The Elusive Productivity Effect of Trade Liberalization in the Manufacturing Industries of Emerging Economies PDF Download

Author: Berhanu Abegaz
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Mr.JaeBin Ahn
Publisher: International Monetary Fund
ISBN: 1475525311
Category : Business & Economics
Languages : en
Pages : 31

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This paper reassesses the impact of trade liberalization on productivity. We build a new, unique database of effective tariff rates at the country-industry level for a broad range of countries over the past two decades. We then explore both the direct effect of liberalization in the sector considered, as well as its indirect impact in downstream industries via input linkages. Our findings point to a dominant role of the indirect input market channel in fostering productivity gains. A 1 percentage point decline in input tariffs is estimated to increase total factor productivity by about 2 percent in the sector considered. For advanced economies, the implied potential productivity gains from fully eliminating remaining tariffs are estimated at around 1 percent, on average, which do not factor in the presumably larger gains from removing existing non-tariff barriers. Finally, we find strong evidence of complementarities between trade and FDI liberalization in boosting productivity. This calls for a broad liberalization agenda that cuts across different areas.

Author:
Publisher:
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Category : Computer network resources
Languages : en
Pages : 300

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Author: Diego Anzoategui
Publisher: International Monetary Fund
ISBN: 1513582798
Category : Business & Economics
Languages : en
Pages : 31

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Widespread implicit guarantees and interest ceilings were major distortions in China’s financial system, contributing to a misallocation of resources. We analyze the impact of removing such frictions in a general equilibrium setting. The results show that comprehensive reforms generate better outcomes than partial ones: removing the deposit rate ceiling alone increases output, but the efficiency of capital allocation does not improve. Removing implicit guarantees improves output through lower cost of capital for private companies and better resource allocation.

Author: Joseph E. Stiglitz
Publisher: W. W. Norton & Company
ISBN: 0393330281
Category : Business & Economics
Languages : en
Pages : 401

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Nobel Prize winner Stiglitz focuses on policies that truly work and offers fresh, new thinking about the questions that shape the globalization debate.

Author: Loren Brandt
Publisher: Cambridge University Press
ISBN: 1139470949
Category : Business & Economics
Languages : en
Pages : 887

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This landmark study provides an integrated analysis of China's unexpected economic boom of the past three decades. The authors combine deep China expertise with broad disciplinary knowledge to explain China's remarkable combination of high-speed growth and deeply flawed institutions. Their work exposes the mechanisms underpinning the origin and expansion of China's great boom. Penetrating studies track the rise of Chinese capabilities in manufacturing and in research and development. The editors probe both achievements and weaknesses across many sectors, including China's fiscal, legal, and financial institutions. The book shows how an intricate minuet combining China's political system with sectorial development, globalization, resource transfers across geographic and economic space, and partial system reform delivered an astonishing and unprecedented growth spurt.

Author: Daniel Lederman
Publisher: World Bank Publications
ISBN: 0821384910
Category : Business & Economics
Languages : en
Pages : 153

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Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products—that only incidentally favor some sectors over others.

Author: Anne O. Krueger
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Berhanu Abegaz
Publisher: Routledge
ISBN: 1351671103
Category : Business & Economics
Languages : en
Pages : 306

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Industrial Development in Africa critically synthesizes and reframes the debates on African industrial development in a capability-opportunity framework. It recasts the challenge in a broader comparative context of successive waves of catchup industrialization experiences in the European periphery, Latin America, and East Asia. Berhanu Abegaz explores the case for resource-based and factor-based industrialization in North Africa and Sub-Saharan Africa by drawing on insights from the history of industrialization, development economics, political economy, and institutional economics. Unpacking complex and diverse experiences, the chapters look at Africa at several levels: continent-wide, sub-regions on both sides of the Sahara, and present analytical case studies of 12 representative countries: Egypt, Tunisia, Ethiopia, Kenya, Tanzania, Mauritius, Zimbabwe, South Africa, Ghana, Nigeria, Senegal, and Cote d’Ivoire. Industrial Development in Africa will be of interest to undergraduate and graduate students studying African development, African economics, and late-stage industrialization. The book will also be of interest to policymakers.

Author: Mr.Jonathan David Ostry
Publisher: International Monetary Fund
ISBN: 1589068181
Category : Business & Economics
Languages : en
Pages : 62

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This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.