Author: Romain Wacziarg
Publisher: Edward Elgar Publishing
ISBN: 9781788111492
Category : Free trade
Languages : en
Pages : 0
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Book Description
This compelling two-volume collection presents the major literary contributions to the economic analysis of the consequences of trade liberalization on growth, productivity, labor market outcomes and economic inequality. Examining the classical theories that stress gains from trade stemming from comparative advantage, the selection also comprises more recent theories of imperfect competition, where any potential gains from trade can stem from competitive effects or the international transmission of knowledge. Empirical contributions provide evidence regarding the explanatory power of these various theories, including work on the effects of trade openness on economic growth, wages, and income inequality, as well as evidence on the effects of trade on firm productivity, entry and exit. Prefaced by an original introduction from the editor, the collection will to be an invaluable research resource for academics, practitioners and those drawn to this fascinating topic.
Author: Mr.Pablo Emilio Guidotti
Publisher: International Monetary Fund
ISBN: 1451852452
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
This paper examines the empirical relationship between long–run growth and the degree of financial development, proxied by the ratio of bank credit to the private sector as a fraction of GDP. We find that this proxy enters significantly and with a positive sign in growth regressions on a large cross–country sample, but with a negative sign using panel data for Latin America. Our findings suggest that the main channel of transmission from financial development to growth is the efficiency of investment, rather than its volume. We also present a model where the negative correlation between financial intermediation and growth results from financial liberalization in a poor regulatory environment.
Author: Mr.Gian Milesi-Ferretti
Publisher: International Monetary Fund
ISBN: 1451850905
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
In recent decades, the foreign assets and liabilities of advanced economies have grown rapidly relative to GDP, with the increase in gross cross-holdings far exceeding changes in the size of net positions. Moreover, the portfolio equity and FDI categories have grown in importance relative to international debt stocks. This paper describes the broad trends in international financial integration for a sample of industrial countries and seeks to explain the cross-country and time-series variation in the size of international balance sheets. It also examines the behavior of the rates of return on foreign assets and liabilities, relating them to "market" returns.
Author: Faezeh Foroutan
Publisher:
ISBN:
Category : Regional planning
Languages : en
Pages : 54
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Book Description
Author: Theodore H. Moran
Publisher: Peterson Institute
ISBN: 9780881323818
Category : Business & Economics
Languages : en
Pages : 442
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Book Description
This volume gathers the cutting edge of new research on foreign direct investment and host country economic performance, and presents the most sophisticated critiques of current and past inquiries. It presents new results, concludes with an analysis of the implications for contemporary policy debates, and proposed new avenues for future research.
Author: B. J. Ndulu
Publisher: World Bank Publications
ISBN: 0821368834
Category : Business & Economics
Languages : en
Pages : 280
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Book Description
Poverty in Africa is largely the outcome of slow growth. With the region hosting 10 percent of the world's population but a staggering 30 percent of the world's poor, the challenges it faces are enormous but NOT insurmountable. The message of this book is clear - poverty-eradicating development in Africa is possible. In fact, there are indications that Africa is at a turning point, and there is growing momentum among front-runner economies in the region toward higher and sustained growth. This study challenges African countries and their development partners to consolidate and continue this momentum and to exploit the advantages of the continent as a latecomer, particularly in innovation and in drawing lessons from successful export-led growth experiences in Asia and Latin America. "Challenges of African Growth" identifies opportunities, constraints, and strategic choices that African countries face in their quest for achieving the growth necessary for poverty alleviation. More important, the study provides a broad menu of stategic options for ensuring not only that countries embark on a growth path, but also that the growth is shared and sustainable. The critical areas for action rest on four pillars: the investment climate; infrastructure; innovation for increasing productivity and competitiveness; and institutional capacity.
Author: Robert E. Baldwin
Publisher: University of Chicago Press
ISBN: 0226036510
Category : Business & Economics
Languages : en
Pages : 392
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Book Description
Interest in U.S. trade policy has been stimulated in recent years by the massive American trade deficit, by the belief that intervention by foreign governments in international markets has given other countries a competitive edge over the United States, and by concern about the increase in protectionism among industrial countries. In turn, major analytical developments in international economics have revolutionized trade theory, broadening its scope both by introducing in a more formal manner such concepts as imperfect competition, increasing returns, product differentiation, and learning effects and by including the study of political and economic factors that shape trade policy decisions. This collection of papers—the result of a conference held by the NBER—applies these "new" trade theories to existing world cases and also presents complementary empirical studies that are grounded in more traditional trade theories. The volume is divided into four parts. The papers in part 1 consider the problem of imperfect competition, empirically assessing the economic effect of various trade policies introduced in industries in which the "new" trade theory seems to apply. Those in part 2 isolate the effects of protection from the influences of the many economic changes that accompany actual periods of protection and also examine how the effects from exogenous changes in economic conditions vary with the form of protection. Part 3 provides new empirical evidence on the effect of foreign production by a country's firms on the home country's exports. Finally, in part 4, two key bilateral issues are analyzed: recent U.S.-Japanese trade tensions and the incident involving the threat of the imposition of countervailing duties by the United States on Canadian softwood lumber.
Author: Mona Haddad
Publisher: World Bank Publications
ISBN: 0821386336
Category : Business & Economics
Languages : en
Pages : 352
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Book Description
The global financial crisis triggered a broad reassessment of economic integration policies in developed and developing countries worldwide. The crisis-induced collapse in trade was the sharpest ever since World War II, affecting all countries and all product categories. A huge shock to the trading system, combined with severe macroeconomic instability, makes it natural for policymakers to call into question the basic underlying assumptions of trade liberalization and openness. In particular, outward-oriented or export-led growth strategies are being reassessed as openness is increasingly associated with greater volatility. However, it is crucial not to lose sight of the dynamic benefits that openness can offer. Examples include technology transfer, increased competitive pressure that reduces markups and improves efficiency, and economies of scale. The real question is how to manage outward-oriented strategies so as to maximize the benefits of openness while minimizing risks. This book aims to contribute to this important and ongoing policy debate, bringing together recent empirical work on the trade collapse, its causes and consequences, and the broader trade policy agenda in the post-crisis environment. It addresses critical policy issues revolving around the topic of outward-oriented growth strategy, including policy instruments that help manage risks associated with outward-orientation, lessons learned from the crisis for particular countries and regions, and how emerging trade policy issues such as climate change, commodities, global production networking, and migration affect the prospects for recovery and outward-oriented growth.
Author: Vanessa T. Tang
Publisher: Springer
ISBN: 3319961667
Category : Political Science
Languages : en
Pages : 276
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Book Description
This edited volume analyzes the Mauritius economy and highlights what conditions and policies have contributed to the development of the country. The project gives a historical and economic analysis of Mauritius and provides comparative approaches looking at other developing states in Africa and Asia. This book is intended for a broad audience, consisting of not only economists with quantitative expertise but also other social scientists, policymakers and scholars interested in the intellectually fascinating exploration of Mauritius’s rapid rise and sustained growth performance.
Author: Organisation for Economic Co-operation and Development
Publisher: OECD Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 184
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Book Description
The benefits of open markets are tangible. In the last decade, countries that have been more open to trade and investment have achieved double the average annual growth of more closed economies. More individuals, firms and nations than ever before depend on the gains from trade and investment liberalisation. Yet anxiety about the effects of greater market integration remains. It is essential for long-term world prosperity that countries' commitment to trade and investment liberalisation be sustained. To be credible, that commitment must be rooted in and enjoy broad public support and understanding. This makes it all the more important to communicate what trade and investment liberalisation can and cannot do and be held responsible for. Trade and investment liberalisation is not painless. It should not be viewed as a cure-all nor presented as an end in itself. It is, however, an essential component of any coherent set of policies aimed at helping societies adjust to - and take advantage of - technology-driven transformations whose pace and depth are unprecedented. The stakes are high. This book examines the various channels through which open markets deliver considerable benefits to societies and their citizens; recalls the real pocket-book costs of protectionism; and addresses the full range of concerns that feature prominently in ongoing discussions over the effects of market liberalisation on employment, income distribution, environmental protection and national sovereignty. A central message of this book is that liberalisation forms part of the solution to the concerns of citizens, rather than being their root cause. The book's comprehensive treatment of the ins and outs of trade and investment liberalisation should make an important contribution to the public debate. It is essential reading for public officials, business leaders and private citizens who wish to take an active part in it.
