Author: Romain Wacziarg Publisher: Edward Elgar Publishing ISBN: 9781788111492 Category : Free trade Languages : en Pages : 0
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: Ronald Alexander Shearer Publisher: Published for the Private Planning Association of Canada by Univeristy of Toronto Press ISBN: Category : British Columbia Languages : en Pages : 226
Author: Csongor István Nagy Publisher: Springer Nature ISBN: 3030419207 Category : Law Languages : en Pages : 266
Book Description
Trade liberalization has shaped international economic relations since the conclusion of the GATT 1947. The last few decades have seen a significant shift in the focus of this process: multilateralism seems to have reached its limits, giving way to regionalism, and the focus of trade liberalization has shifted to non-tariff barriers. While these developments have attracted considerable attention, exploring them from comparative perspectives has been largely neglected. Trading systems – the WTO, regional economic integrations and federal systems – are all based on the same dichotomy of free trade and local public interest: they generally prohibit the constituent parties (states) from restricting trade, but exempt them from this limitation if the restriction is warranted by a legitimate local end. The purpose of this volume is to contribute to filling the above-mentioned research gap by exploring central issues in regional economic integrations from a comparative perspective. It provides a general economic analysis of the costs and benefits of trade liberalization and the role and function of normative values in commercial policy. This is followed by a comparative analysis of the approaches used in various regional economic integrations (in North America, Europe and Latin America) and federal markets (the United States, Australia and India) regarding the balance between free trade and local public interest. Key issues in investment law, one of the most contentious elements of next-generation free trade agreements, are also addressed.
Author: Mr.Athanasios Vamvakidis Publisher: International Monetary Fund ISBN: 1451845944 Category : Business & Economics Languages : en Pages : 35
Book Description
Should a closed economy open its trade to all countries or limit itself to participation in regional trade agreements (RTAs)? Based on time-series evidence for a data set for 1950-92, this paper estimates and compares the growth performance of countries that liberalized broadly and those that joined an RTA. The comparisons show that economies grew faster after broad liberalization, both in the short and long run, but slower after participation in an RTA. Economies also had higher investment shares after broad liberalization, but lower ones after joining an RTA. The policy implications support broad liberalization.
Author: A. P. Thirlwall Publisher: Edward Elgar Publishing ISBN: 184844401X Category : Business & Economics Languages : en Pages : 265
Book Description
This is a meticulously researched and well written book on a subject of immense contemporary academic and policy interest. Prema-chandra Athukorala, Journal of Development Studies The book is a valuable contribution to the analysis of the links between trade liberalisation, poverty and inequality . . . The book is a coherent piece of work offering an abundance of well-researched and argued information, effectively establishing it as a notable contribution to the investigation and understanding of this very important field. Therefore this book is highly recommended as an important publication for everyone interested in this field as it is a powerful guide to the complex questions that emerge when dealing with the issues of trade liberalisation and poverty elimination at international level. Marios Koutsias, International Trade Law and Regulation Thirlwall and Pacheco-López s book makes its contribution by serving as a clearly written synthesis of a diversity of literatures on trade liberalization and its impacts on growth, inequality and wages, and poverty. . . . the book is an excellent one. It should be a required reading companion to any graduate-level trade course. Kevin P. Gallagher, Journal of Human Development and Capabilities This book breaks out of the standard distinction between free trade and protectionism , and shows how to think constructively about trade policy as an instrument of national economic strategy. It is highly recommended for those who wish to think beyond orthodoxy, and especially for those in developing countries who wish to influence negotiations with developed countries and western-based international organisations. Robert Wade, London School of Economics, UK This is a gem of a book. Based on deep understanding of diverse economic theories and empirical evidence, it offers us a succinct but highly informative overview of the controversies surrounding the impact of trade policy on growth, inequality, and macroeconomics. Ha-Joon Chang, University of Cambridge, UK, and author of Kicking Away the Ladder, and Bad Samaritans Free-trade fundamentalism is gradually making way for a more nuanced and historically well-informed understanding of the role that trade policy plays in economic development. Thirlwall and Pacheco-López provide an excellent review of the relevant literature as well as a sophisticated critique of the earlier, simplistic views. As they explain, it is the details the timing, sequencing, and context that determine whether liberalization will succeed. Dani Rodrik, Harvard University, US This book will infuriate the free trade ultras who believe that liberalisation is the answer to every problem and a good thing too. The real world, as Thirlwall and Pacheco-López show clearly and vividly, is different from the world of theoretical models so beloved by today s economic orthodoxy, and they take delight in tweaking the noses of the Washington consensus. History suggests they are right to argue that managed trade is better for developing countries than swallowing large doses of free-trade medicine. Larry Elliott, The Guardian Orthodox trade and growth theory, and the world s multilateral development institutions, extol the virtues of trade liberalisation and free trade for more rapid economic development of poor countries. However, the contemporary reality and history seem to tell a different story. The world economy has experienced an unprecedented period of trade liberalisation in the last thirty years, and yet international and global inequality is widening; domestic poverty (outside of China) is increasing; poor countries exports have grown more slowly than their imports leading to balance of payments crises, and the so-called globalising economies of the world (excluding China and India) have fared no better, and in some cases worse, than those countries that have not liberalised so extensively. This book argues that orthodox theory is based on many unreal assumptions,
Author: Ross Garnaut Publisher: Institute of Southeast Asian ISBN: 9813055456 Category : Business & Economics Languages : en Pages : 233
Book Description
Open Regionalism is regional economic co-operation without discrimination against countries outside the region. The concept grew from the experience of rapid growth, and expanding trade and investment across national borders, in East Asia and the Pacific. It became the guiding idea of Asia-Pacific Economic Co-operation. It is now recognized as being the means through which the growing appeal of regional trading arrangements can be reconciled with a flourishing global trade system within the framework of the new World Trade Organization.
Author: Muhammad Shoaib Butt Publisher: Routledge ISBN: 113403735X Category : Business & Economics Languages : en Pages : 269
Book Description
This is the first study to distinguish a possible link between trade liberalisation and regional disparities under dissimilar political regimes, such as autocracy and democracy. It uses Pakistan as a case study to draw broader lessons for other developing countries.
Author: Ali Zafar Publisher: World Bank Publications ISBN: Category : Free trade Languages : en Pages : 27
Book Description
First, the preferred tariff regime in terms of overall fiscal and job creation impact was the harmonized Swiss formula in contrast to a 10 and 15 percent uniform tariff. Second, a possible Regional Economic Partnership Agreement (REPA) between the European Union and l'Union 9conomique et Monťaire Ouest-Africaine (UEMOA) by 2015 that would abolish duties on EU imports to the UEMOA countries would have negative fiscal effects on Niger of more than 1 percent of GDP, positive effects on trade creation of about 1.5 percent of GDP, and ambiguous effects on local industry. While there will be some welfare gains for consumers and importers from lower import tariffs and the possibility of trade creation, the fiscal losses and adjustment costs would be significant, particularly in the machinery and transport sectors. Third, there are asymmetric gains and losses from regional integration and tariff changes, and a 10 percent uniform tariff would have the greatest impact on Niger and Togo. In sum, further trade liberalization in Niger will have significant fiscal costs, partially offset by trade creation through increased imports"--Abstract.
Author: Romain Wacziarg
Author: Ronald Alexander Shearer
Author: Csongor István Nagy
Author: Mr.Athanasios Vamvakidis
Author: Ronald Alexander Shearer
Author: A. P. Thirlwall
Author: Ronald Alexander Shearer
Author: Ross Garnaut
Author: Muhammad Shoaib Butt
Author: Ali Zafar