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Author: Carlos Góes Publisher: International Monetary Fund ISBN: 151359236X Category : Business & Economics Languages : en Pages : 11
Book Description
This paper presents the first assessment domestic market integration in Brazil using the law of one price. The law of one price is tested using two panel unit root methodologies and a unique data set comprising price indices for 51 products across 11 metro-areas. We find that the law of one price holds for most tradable products and, not surprisingly, non-tradable products are found to be less likely to satisfy the law of one price. While these findings are consistent with evidence found for other countries, price convergence occurs very slowly in Brazil, suggesting relatively limited domestic market integration.
Author: Carlos Góes Publisher: International Monetary Fund ISBN: 151359236X Category : Business & Economics Languages : en Pages : 11
Book Description
This paper presents the first assessment domestic market integration in Brazil using the law of one price. The law of one price is tested using two panel unit root methodologies and a unique data set comprising price indices for 51 products across 11 metro-areas. We find that the law of one price holds for most tradable products and, not surprisingly, non-tradable products are found to be less likely to satisfy the law of one price. While these findings are consistent with evidence found for other countries, price convergence occurs very slowly in Brazil, suggesting relatively limited domestic market integration.
Author: Jeffrey A. Frankel Publisher: University of Chicago Press ISBN: 0226260224 Category : Business & Economics Languages : en Pages : 295
Book Description
Regional economic arrangements such as free trade areas (FTAs), customs unions, and currency blocs, have become increasingly prevalent in the world economy. Both pervasive and controversial, regionalization has some economists optimistic about the opportunities it creates and others fearful that it may corrupt fragile efforts to encourage global free trade. Including both empirical and theoretical studies, this volume addresses several important questions: Why do countries adopt FTAs and other regional trading arrangements? To what extent have existing regional arrangements actually affected patterns of trade? What are the welfare effects of such arrangements? Several chapters explore the economic effects of regional arrangements on patterns of trade, either on price differentials or via the gravity model on bilateral trade flows. In addition, this book examines the theoretical foundation of the gravity model. Making extensive use of the gravity model of bilateral trade, several chapters explore the economic effects of regional arrangements. In addition, this book examines the theoretical foundation of the gravity model.
Author: Robert Bork Publisher: ISBN: 9781736089712 Category : Languages : en Pages : 536
Book Description
The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Author: Michelle Egan Publisher: OUP Oxford ISBN: 0191045705 Category : Political Science Languages : en Pages : 300
Book Description
This timely book provides in-depth analytical comparison of the nineteenth century evolution of the American single market with corresponding political, economic, and social developments in post-WWII European efforts to create a single European market. Building the regulatory framework needed for successful adoption of an integrated single market across diverse political units represents one of the most important issues in comparative political economy. What accounts for the political success or failure in creating integrated markets in their respective territories? When social discontent threatens market integration with populist backlash, what must be done to create political support and greater legitimacy? Single Markets focuses on the creation of integrated economies, in which the United States and European Union experienced sharply contested ideas about the operation of their respective markets, conflict over the allocation of institutional authority, and pressure from competing political, economic, and social forces over the role and consequences of increased competition. Drawing upon four case studies, the book highlights the contestation surrounding the US and EUs efforts to create common currencies, expand their borders and territories, and deal with the pressures of populist parties, regional interests and varied fiscal and economic challenges. Theoretically, the book draws on work in European integration and American Political Development (APD) to illustrate that the consolidation of markets in the US and EU took place in conjunction with the expansion of state regulatory power and pressure for democratic reform. Single Markets situates the consolidation of single markets in the US and EU in a broader comparative context that draws on research in economics, public administration, political science, law, and history.
Author: Karl Gunnar Persson Publisher: Cambridge University Press ISBN: 1139426311 Category : History Languages : en Pages : 197
Book Description
In this 1999 book, Karl Gunnar Persson surveys a broad sweep of economic history, examining one of the most crucial markets - grain. His analysis allows him to draw more general lessons, for example that liberalization of markets was linked to political authoritarianism. Grain Markets in Europe traces the markets' early regulation, their poor performance and the frequent market failures. Price volatility caused by harvest shocks was of major concern for central and local government because of the unrest it caused. Regulation became obsolete when markets became more integrated and performed better through trade triggered by falling transport costs. Persson, a specialist in economic history, uses insights from development economics, explores contemporary economic thought on the advantages of free trade, and measures the extent of market integration using the latest econometric methods. Grain Markets in Europe will be of value to scholars and students in economic history, social history and agricultural and institutional economics.
Author: T. J. Hatton Publisher: MIT Press ISBN: 0262083612 Category : Economic history Languages : en Pages : 431
Book Description
Essays by internationally prominent economists examine long run cross-country economic trends from the perspective of New Comparative Economic History, an approach pioneered by Harvard economist Jeffrey G. Williamson. The innovative approach to economic history known as the New Comparative Economic History represents a distinct change in the way that many economic historians view their role, do their work, and interact with the broader economics profession. The New Comparative Economic History reflects a belief that economic processes can best be understood by systematically comparing experiences across time, regions, and, above all, countries. It is motivated by current questions that are not nation specific--the sources of economic growth, the importance of institutions, and the impact of globalization--and focuses on long-run trends rather than short-run ups and downs in economic activity. The essays in this volume offer a New Economic Comparative History perspective on a range of topics and are written in honor of Jeffrey G. Williamson, the most distinguished and influential scholar in the field. The contributors, prominent American and European economists, consider such topics as migration, education, and wage convergence; democracy and protectionism in the nineteenth century; trade and immigration policies in labor-scarce economies; and the effect of institutions on European productivity and jobs.
Author: Howard W. French Publisher: Vintage ISBN: 0385351682 Category : Social Science Languages : en Pages : 301
Book Description
A New York Times Notable Book Chinese immigrants of the recent past and unfolding twenty-first century are in search of the African dream. So explains indefatigable traveler Howard W. French, prize-winning investigative journalist and former New York Times bureau chief in Africa and China, in the definitive account of this seismic geopolitical development. China’s burgeoning presence in Africa is already shaping, and reshaping, the future of millions of people. From Liberia to Senegal to Mozambique, in creaky trucks and by back roads, French introduces us to the characters who make up China’s dogged emigrant population: entrepreneurs singlehandedly reshaping African infrastructure, and less-lucky migrants barely scraping by but still convinced of Africa’s opportunities. French’s acute observations offer illuminating insight into the most pressing unknowns of modern Sino-African relations: Why China is making these cultural and economic incursions into the continent; what Africa’s role is in this equation; and what the ramifications for both parties and their people—and the watching world—will be in the foreseeable future. One of the Best Books of the Year at • The Economist • The Guardian • Foreign Affairs
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: Pinelopi Koujianou Goldberg Publisher: ISBN: Category : Automobile industry and trade Languages : en Pages : 48
Book Description
This paper exploits the unique experiment of European market integration to investigate the relationship between integration and price convergence in international markets. Using a panel data set of car prices we examine how the process of integration has affected cross-country price dispersion in Europe. We find surprisingly strong evidence of convergence towards both the absolute and the relative versions of Purchasing Power Parity. Our analysis illuminates the main sources of segmentation in international markets and suggests the type of institutional changes that can successfully reduce it.
Author: Carlos Góes
Author: Carlos Góes
Author: Jeffrey A. Frankel
Author: Robert Bork
Author: Michelle Egan
Author: Maurice Obstfeld
Author: Karl Gunnar Persson
Author: T. J. Hatton
Author: Howard W. French
Author: Miroslav N. Jovanović
Author: Pinelopi Koujianou Goldberg