Trade Policy, the Price of Capital Goods and Economic Growth PDF Download

Author: Rainer Maurer
Publisher:
ISBN:
Category : Commercial policy
Languages : en
Pages : 64

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Author: Weicheng Lian
Publisher: International Monetary Fund
ISBN: 149832343X
Category : Business & Economics
Languages : en
Pages : 86

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Over the past three decades, the price of machinery and equipment fell dramatically relative to other prices in advanced and emerging market and developing economies. Using cross-country and sectoral data, we show that the decline in the relative price of tangible tradable capital goods provided a significant impetus to the capital deepening that took place during the same time period. The broad-based decline in the relative price of machinery and equipment, in turn, was driven by the faster productivity growth in the capital goods producing sectors relative to the rest of the economy, and deeper trade integration, which induced domestic producers to lower prices and increase their efficiency. Our findings suggest an additional channel through which rising trade tensions and sluggish productivity could threaten real investment growth going forward.

Author: Ben Bernanke
Publisher: Mit Press
ISBN: 9780262025034
Category : Macroeconomics
Languages : en
Pages : 418

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The NBER Macroeconomics Annual presents, extends, and applies pioneering work in macroeconomics and stimulates work by macroeconomists on important policy issues. Each paper in the Annual is followed by comments and discussion.

Author: Jong-Wha Lee
Publisher:
ISBN:
Category : Capital investments
Languages : en
Pages : 40

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This paper presents an endogenous growth model of an open economy in which the growth rate of income is higher if foreign capital goods are used relatively more than domestic capital goods for the production of capital stock. Empirical results, using cross country data for the period 1960-85, confirm that the ratio of imported to domestically produced capital goods in the composition of investment has a significant positive effect on per capita income growth rates across countries, in particular, in developing countries. Hence, the composition of investment in addition to the volume of total capital accumulation is highlighted as an important determinant of economic growth.

Author: Piyusha Mutreja
Publisher:
ISBN:
Category :
Languages : en
Pages : 40

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International trade in capital goods has quantitatively important effects on economic development through two channels: capital formation and aggregate TFP. We embed a multi country, multi sector Ricardian model of trade into a neoclassical growth framework. Our model matches several trade and development facts within a unified framework: the world distribution of capital goods production and trade, cross-country differences in investment rate and price of final goods, and cross-country equalization of price of capital goods. Reducing barriers to trade capital goods allows poor countries to access more efficient means of capital goods production abroad, leading to relatively higher capital output ratios. Meanwhile, poor countries can specialize more in their comparative advantage--non-capital goods production--and increase their TFP. The income gap between rich and poor countries declines by 40 percent by eliminating barriers to trade capital goods.

Author: Charles L Chanthunya
Publisher: Routledge
ISBN: 042968052X
Category : Business & Economics
Languages : en
Pages : 266

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First published in 1998, this volume focuses on the relationship between trade policy and economic growth, one of the most controversial questions in the emerging paradigm on "international trade and economic development". Authored by a senior monetary expert and a senior lecturer in finance, the question is explored through institutional and policy issues with examples from a sample of ten African countries, with special reference to Malawi and Zambia. Asking which trade regime is appropriate for promoting economic growth in developing countries, the book concludes by discussing the appropriate strategy for African countries.

Author: Hendrik Van den Berg
Publisher: M.E. Sharpe
ISBN: 9780765618023
Category : Business & Economics
Languages : en
Pages : 342

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Serving as a teaching tool for courses in international economics, economic growth, and economic development at both the undergraduate and graduate levels, this book focuses on the dynamic long-run relationship between trade and economic growth.

Author: Manuel Agosin
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 324

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A re-examination of the role of trade policy in development strategies through analyses and five country studies of semi-industrialized economies, this book shows that sustained growth performance is associated with policies geared to the creation of competitiveness in new sectors, rather than to the exploitation of current comparative advantages. This has required selectivity in trade policy and an activist exchange rate policy. The book also places the current trade policy debates in the context of the international policy environment that is emerging in an increasingly globalized world economy.

Author: Robert A. Blecker
Publisher: M.E. Sharpe
ISBN: 9781563245305
Category : Business & Economics
Languages : en
Pages : 350

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This collection of essays offers critical perspectives on current issues in the international economy. Divided into four parts, U.S. Trade Policy and Global Growth discusses managed trade and international interdependence, the effect of trade on domestic wages and employment, the costs and benefits of trade protection, and likely effects of NAFTA. The collection also addresses the U.S. trade deficit and presents a Keynesian proposal for international monetary reform. Part IV focuses on issues facing developing countries in the areas of trade, industrial, and financial policy. Rejecting the dogma that pure free-market policies should be accepted as articles of religious faith, in either international trade or domestic policy, the contributors search for trade and macro policies that can achieve balanced growth with high employment and an equitable distribution of income in both the United States and the rest of the world.

Author: Luis Serven
Publisher: World Bank Publications
ISBN:
Category : Bienes de capital
Languages : en
Pages : 33

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