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Author: Sven W. Arndt Publisher: OUP Oxford ISBN: 0191589063 Category : Business & Economics Languages : en Pages : 270
Book Description
"Fragmentation" is a term used in this volume to describe cross-border component specialization and production-sharing. Examination of recent trade data suggests that offshore sourcing of parts and components, as well as offshore assembly, are assuming an increasing role in the world economy. The theoretical implications of this type of specialization are examined in several chapters with the aid of both Ricardian and Heckscher-Ohlin trade models. Production is first decomposed ("fragmented") into its constituent parts and activities, and then it is at this level that factor-intensities and technologies are calibrated. The implications of intra-product specialization and component trade are investigated under conditions of free, restricted, and preferential trade. The role of multinationals is explored and the importance of cross-border service-links among component activities is examined. Overall, extension of the principle of comparative advantage beyond products to the realm of parts and components is welfare-enhancing. Industries take advantage of offshore sourcing in order to reduce costs and increase competitiveness. Component specialization offers new and additional opportunities for the exploitation of scale economies. Across a broad range of conditions, it raises output and employment. Its effects on wages are spelled out. Trade between advanced, high-wage and developing low-wage countries is an obvious candidate for the two-way application of component specialization. The empirical part of the volume presents an evaluation of new data which allow the separation of trade in components and in final products. It also provides assessments of the role of component specialization in the trade of several countries and regions. In addition to their relevance for trade theorists and country specialists, the studies collected in this volume have interesting implications for the conduct of trade policy. They contradict claims that trade with low-wage countries must be welfare-reducing and they suggest new approaches to industrialization and economic development.
Author: Sven W. Arndt Publisher: OUP Oxford ISBN: 0191589063 Category : Business & Economics Languages : en Pages : 270
Book Description
"Fragmentation" is a term used in this volume to describe cross-border component specialization and production-sharing. Examination of recent trade data suggests that offshore sourcing of parts and components, as well as offshore assembly, are assuming an increasing role in the world economy. The theoretical implications of this type of specialization are examined in several chapters with the aid of both Ricardian and Heckscher-Ohlin trade models. Production is first decomposed ("fragmented") into its constituent parts and activities, and then it is at this level that factor-intensities and technologies are calibrated. The implications of intra-product specialization and component trade are investigated under conditions of free, restricted, and preferential trade. The role of multinationals is explored and the importance of cross-border service-links among component activities is examined. Overall, extension of the principle of comparative advantage beyond products to the realm of parts and components is welfare-enhancing. Industries take advantage of offshore sourcing in order to reduce costs and increase competitiveness. Component specialization offers new and additional opportunities for the exploitation of scale economies. Across a broad range of conditions, it raises output and employment. Its effects on wages are spelled out. Trade between advanced, high-wage and developing low-wage countries is an obvious candidate for the two-way application of component specialization. The empirical part of the volume presents an evaluation of new data which allow the separation of trade in components and in final products. It also provides assessments of the role of component specialization in the trade of several countries and regions. In addition to their relevance for trade theorists and country specialists, the studies collected in this volume have interesting implications for the conduct of trade policy. They contradict claims that trade with low-wage countries must be welfare-reducing and they suggest new approaches to industrialization and economic development.
Author: Miroslav Jovanovic Publisher: Routledge ISBN: 1134711662 Category : Business & Economics Languages : en Pages : 472
Book Description
This new edition of International Economic Integration, has been fully revised and updated to reflect current developments in this increasingly important area. New features include: * Completely new introduction and conclusion * Chapter added on integration schemes which includes discussion of the East and the enlargement of the European Union * Chapter on the Common Market expanded to include new developments in capital mobility and industrial policy * new real life examples, quanitative studies and statistical material * Treatment of issues even more accessible following feedback from first edition Building on the reputation of the highly successful first edition, this volume will continue to be considered the definitive work on the subject and to be a vital reference for students of international economics.
Author: Miroslav N. Jovanović Publisher: Edward Elgar Publishing ISBN: 1845428935 Category : Business & Economics Languages : en Pages : 919
Book Description
International economic integration has played a significant part in economic policy decisions for most countries and regions throughout the world over decades. This text looks at why the success of integration schemes has been so variable and what the prospects are for integration in the future.
Author: Publisher: ISBN: Category : Business & Economics Languages : en Pages : 102
Book Description
A survey of the current empirical literature on the potential impact of economic monetery union (EMU) on the Cohesion economies. The Cohesion economies being the economies of the countries whose gross national product is below 90% of the Community average and follow an economic convergence programme and are therefore eligible for assistance from the Cohesion Fund. At present only Spain, Greece, Ireland and Portugal qualify. The report examines adjustment costs and benefits of enhanced stability from EMU; impact of the loss of the nominal exchange rate as an instrument of economic policy; the potential long-term effects of lower transactions costs following EMU.
Author: Kathleen R. McNamara Publisher: Cornell University Press ISBN: 1501711938 Category : Political Science Languages : en Pages : 211
Book Description
Why have the states of Europe agreed to create an Economic and Monetary Union (EMU) and a single European currency? What will decide the fate of this bold project? This book explains why monetary integration has deepened in Europe from the Bretton Woods era to the present day. McNamara argues that the development of a neoliberal economic policy consensus among European leaders in the years after the first oil crisis was crucial to stability in the European Monetary System and progress towards EMU. She identifies two factors, rising capital mobility and changing ideas about the government's proper role in monetary policymaking, as critical to the neoliberal consensus but warns that unresolved social tensions in this consensus may provoke a political backlash against EMU and its neoliberal reforms.McNamara's findings are relevant not only to European monetary integration, but to more general questions about the effects of international capital flows on states. Although this book delineates a range of constraints created by economic interdependence, McNamara rejects the notion that international market forces simply dictate government policy choice. She demonstrates that the process of neoliberal policy change is a historically dependent one, shaped by policymakers' shared beliefs and interpretations of their experiences in the global economy.
Author: Birgit Bednar-Friedl Publisher: Springer ISBN: 3319233246 Category : Business & Economics Languages : en Pages : 193
Book Description
This book addresses three big economic challenges from a dynamic perspective: European integration, economic growth, and global climate change. In the light of the recent crises of the European Union (EU), the first part of the book deals with challenges to the real, monetary and fiscal integration of the EU and required institutional adjustments. The second part of the book addresses fundamental challenges of advanced market economies like economic growth and changes of technologies. The final part focuses on the global challenge of climate change from an economic perspective and discusses policy strategies for a successful mitigation of climate change.
Author: Francesco Farina Publisher: Taylor & Francis ISBN: 1134293550 Category : Business & Economics Languages : en Pages : 348
Book Description
Internationally, globalization and increased economic integration has impacted quality of life and individual well-being. Attempts to evaluate the impact on income dispersion from this process have been extremely controversial. This key volume is the first real attempt to build up indices and a theoretical framework in order to deal with inequality of opportunity, and to enable social and political institutions to monitor increasing disparities in well-being and social exclusion. It thoroughly examines the possible relationships between the recent acceleration in economic integration and inequality among persons and countries and will enable social and political institutions to monitor increasing disparities in well-being and social exclusion. The contributions to this volume cover various subfields of economics, and examine both the negative and positive spillover effects of economic integration on individuals, social groups and nations. Since the impact of globalization on the most deprived people is multidimensional in nature, the theoretical framework is extended to a multivariate context where several individual characteristics are simultaneously considered. This original volume covers many important topics and features an impressive array of respected contributors. As such, it is sure to be an invaluable resource for postgraduates and professionals in the fields of political economy and economics.
Author: Harry P. Bowen Publisher: Bloomsbury Publishing ISBN: 1137015519 Category : Business & Economics Languages : en Pages : 568
Book Description
This thoroughly revised second edition of Applied International Trade presents the leading theoretical and applied methods used in the field of international trade. It highlights the importance of linking theory to data and of verifying theoretical predictions through empirical investigation. The book also draws out and highlights the theoretical and policy implications that arise from empirical findings. Features of the second edition include: ? Expanded focus on emerging topics such as firm heterogeneity, intrafirm trade, and the basis and structure of multinational production ? Increased coverage of gravity models and international factor movements, including labor migration ? Fully updated presentation and discussion of the most recent empirical findings, data methods and sources Rigorous and analytical, yet written in an accessible manner with ample use of graphs throughout, Applied International Trade is an ideal text for courses at advanced undergraduate and masters level. For instructors: A companion website is available at www.palgrave.com/economics/AIT2, comprising lecture slides and an Instructor's Manual with solutions to end-of-chapter problems.
Author: Mordechai Elihau Kreinin Publisher: Edward Elgar Publishing ISBN: 9781845423537 Category : Business & Economics Languages : en Pages : 280
Book Description
Internationalization of the world economy has made trade a key factor in the growth potential of nearly every economy. Hence, economists have become increasingly interested in the determinants of international trade and competitiveness. Empirical Models i
Author: Alan Cafruny Publisher: Martinus Nijhoff Publishers ISBN: 9004640312 Category : Political Science Languages : en Pages : 320
Book Description
During the last decade Europe has been transformed both politically and commercially. The establishment of a genuinely single marketplace in the context of an expanding membership has enabled the European Union greatly to enhance its role on the world stage. In the areas of trade and commercial policy the Union increasingly speaks with one voice. As a result of the Maastricht Treaty on Economic and Political Union of 1993, a process has been set in motion whereby the embryonic mechanisms of a common foreign policy (European Political Cooperation or EPC) are gradually evolving into a more comprehensive Common Foreign and Security Policy (CFSP). The contributors to this volume describe and evaluate the nature and extent to which the European Union plays an independent role in international affairs. This pioneering work makes an important contribution to the literature on the European Union since the chapters present a comprehensive picture of the Union's foreign economic policies and actions, its foreign security policy, and the supranational nature of much Union decision-making. The book is significant, not only because of its dual focus on economics as well as politics, but also because it comprehensively covers the broad range of Union policies in both the economic and political spheres. The intended level of readership is undergraduate courses on the EU and on European politics; upper level undergraduate courses in International Relations; and graduate survey courses on the EU. The book is sufficiently comprehensive and instructive to achieve a wide readership, especially in North America and the UK.
Author: Sven W. Arndt
Author: Sven W. Arndt
Author: Miroslav Jovanovic
Author: Miroslav N. Jovanović
Author: 
Author: Kathleen R. McNamara
Author: Birgit Bednar-Friedl
Author: Francesco Farina
Author: Harry P. Bowen
Author: Mordechai Elihau Kreinin
Author: Alan Cafruny