The Global Financial Crisis and the Developing World
... growth and development, these experiences have made policy makers in emerging market economies aware of the enormous costs that they have to bear from the periphery by participating in the financial globalization process. Consequently, many of them have opted to hold large amounts of international r ...
... growth and development, these experiences have made policy makers in emerging market economies aware of the enormous costs that they have to bear from the periphery by participating in the financial globalization process. Consequently, many of them have opted to hold large amounts of international r ...
research paper series Research Paper 2005/05
... a model with at least two sectors. Furthermore, since we are interested in equilibrium unemployment, we will need the fairness constraint to be binding in both sectors. In previous work, Agell and Lundborg (1995) have provided a two-sector general equilibrium model of a trading fair wage economy tha ...
... a model with at least two sectors. Furthermore, since we are interested in equilibrium unemployment, we will need the fairness constraint to be binding in both sectors. In previous work, Agell and Lundborg (1995) have provided a two-sector general equilibrium model of a trading fair wage economy tha ...
the Case of a Small Open Economy
... exported good and by assumption is specific in high-skilled labour10. Thus, my first objective is to find how the exogenous inflows of sector specific factors (either low-skilled or highskilled labour) would change the flows of mobile factor (capital). In the second part of the paper, I discuss whet ...
... exported good and by assumption is specific in high-skilled labour10. Thus, my first objective is to find how the exogenous inflows of sector specific factors (either low-skilled or highskilled labour) would change the flows of mobile factor (capital). In the second part of the paper, I discuss whet ...
In particular, the assumptions about the wage
... Both manufactures and food are produced using capital and labor. The output of each good depends on how much capital and labor are used. This relationship is summarized by the neoclassical production function: Qi Qi ( K i , Li ) , for i = F, M. ...
... Both manufactures and food are produced using capital and labor. The output of each good depends on how much capital and labor are used. This relationship is summarized by the neoclassical production function: Qi Qi ( K i , Li ) , for i = F, M. ...
2.- econometric estimations of gravity equations
... Sometimes, instead of using origin and destination GDP’s, the product of both “i” and “j” GDP’s is used as a single variable (or the share of that product over total GDP), tij could contain both BARRIERS and/or INCENTIVES to trade between “i” and “j”. (dij): Bilateral distance “ij” (computed in ...
... Sometimes, instead of using origin and destination GDP’s, the product of both “i” and “j” GDP’s is used as a single variable (or the share of that product over total GDP), tij could contain both BARRIERS and/or INCENTIVES to trade between “i” and “j”. (dij): Bilateral distance “ij” (computed in ...
class presentation
... not as valid as some had initially believed. • New industries did not become competitive despite or because of trade restrictions. • Import-substitution industrialization involved costs and promoted wasteful use of resources: – It involved complex, time-consuming regulations. – It set high tariff ra ...
... not as valid as some had initially believed. • New industries did not become competitive despite or because of trade restrictions. • Import-substitution industrialization involved costs and promoted wasteful use of resources: – It involved complex, time-consuming regulations. – It set high tariff ra ...
Chapter 4
... We discuss the two factor Heckscher-Ohlin model using the following simplifying assumptions: 1. Labor and land are the resources important for production (two factors of production = labor and land). 2. The amount of labor services and land varies across countries, and this variation influences prod ...
... We discuss the two factor Heckscher-Ohlin model using the following simplifying assumptions: 1. Labor and land are the resources important for production (two factors of production = labor and land). 2. The amount of labor services and land varies across countries, and this variation influences prod ...
Trade Liberalization: Cordell Hull and the Case for Optimism
... consequences of lower tariffs in the midst of high unemployment, gave Hull only tepid support. But Hull fought a hard battle to get the administration to propose and Congress to enact the Reciprocal Trade Agreements Act (RTAA) of 1934. This act, a forerunner to what today is known as Trade Promotio ...
... consequences of lower tariffs in the midst of high unemployment, gave Hull only tepid support. But Hull fought a hard battle to get the administration to propose and Congress to enact the Reciprocal Trade Agreements Act (RTAA) of 1934. This act, a forerunner to what today is known as Trade Promotio ...
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... assemble an aircraft and produce some of its components and parts. Together, the U.S. contractor and foreign country determined that these particular components and parts were compatible with the foreign companies’ manufacturing processes and concluded they could be produced at a lower cost by the f ...
... assemble an aircraft and produce some of its components and parts. Together, the U.S. contractor and foreign country determined that these particular components and parts were compatible with the foreign companies’ manufacturing processes and concluded they could be produced at a lower cost by the f ...
Parallel Imports TRIPS Post-Grant Flexibilities:
... Parallel imports: beyond patents (3) • Even where parallel imports are authorized, the importer in order to market the product will still need the DRA’s marketing approval in the importing country. • As parallel imports concern patented products (and not generics), marketing approval will normally ...
... Parallel imports: beyond patents (3) • Even where parallel imports are authorized, the importer in order to market the product will still need the DRA’s marketing approval in the importing country. • As parallel imports concern patented products (and not generics), marketing approval will normally ...
NBER WORKING PAPER SERIES DEMOGRAPHICS IN DYNAMIC HECKSCHER-OHLIN MODELS:
... This paper studies the properties of dynamic Heckscher-Ohlin models — combinations of static Heckscher-Ohlin trade models and two-sector growth models — with two different demographic environments, an infinitely lived consumer environment and an overlapping generations environment. In the model, a f ...
... This paper studies the properties of dynamic Heckscher-Ohlin models — combinations of static Heckscher-Ohlin trade models and two-sector growth models — with two different demographic environments, an infinitely lived consumer environment and an overlapping generations environment. In the model, a f ...
On the Mechanics of Economic Development
... My plan is as follows. I will begin with an application of a now-standard neoclassical model to the study of twentieth century U.S. growth, closely following the work of Robert Solow, Edward Denison and many others. I will then ask, somewhat unfairly, whether this model as it stands is an adequate m ...
... My plan is as follows. I will begin with an application of a now-standard neoclassical model to the study of twentieth century U.S. growth, closely following the work of Robert Solow, Edward Denison and many others. I will then ask, somewhat unfairly, whether this model as it stands is an adequate m ...
Free Trade: What Are the Terms%of%Trade Effects?
... tions who have an ability to obtain better terms of trade with protection. In a two-country world, Harry Johnson (1953-54) showed that if the two countries’ import elasticities are relatively similar both will lose from deviating from free trade, but that if one country has relatively more elastic ...
... tions who have an ability to obtain better terms of trade with protection. In a two-country world, Harry Johnson (1953-54) showed that if the two countries’ import elasticities are relatively similar both will lose from deviating from free trade, but that if one country has relatively more elastic ...
Sources of competitive advantage in the Uruguayan and New
... beef comes from 10 abattoirs. There is only one co-operative and most of the processing companies are owned by Uruguayans (INAC 2002). The technologies employed in the processing plants are similar in each country. There is considerable diversity of marketing strategy within both countries. For exam ...
... beef comes from 10 abattoirs. There is only one co-operative and most of the processing companies are owned by Uruguayans (INAC 2002). The technologies employed in the processing plants are similar in each country. There is considerable diversity of marketing strategy within both countries. For exam ...
IOSR Journal of Business and Management (IOSR-JBM)
... remove internal trade barrier and may lead firms to strengthen their structures and adding-value activities to reflect regional market rather than national market. While on the other hand, [8] argued that trade creation redirect trade away from the most efficient global producers in the favor of reg ...
... remove internal trade barrier and may lead firms to strengthen their structures and adding-value activities to reflect regional market rather than national market. While on the other hand, [8] argued that trade creation redirect trade away from the most efficient global producers in the favor of reg ...
DRAFT – Not to be Cited Maladjusted African Economies and Globalisation Introduction
... privately held wealth was invested outside Africa and that in relations to workforce, capital flight from Africa has been much higher than in other developing country groups. In a recent most systematic attempt tot measure the extent of capital James Boyce and Léonce Ndikumana show that for the peri ...
... privately held wealth was invested outside Africa and that in relations to workforce, capital flight from Africa has been much higher than in other developing country groups. In a recent most systematic attempt tot measure the extent of capital James Boyce and Léonce Ndikumana show that for the peri ...
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... American Free Trade Agreement (NAFTA) member countries on U.S. domestic catfish industry. Asche et al (2005) studied the swordfish import of the United States and find that demand is inelastic for all products, indicating a limited degree of substitution possibilities. Ligeon et al (2007) used a sou ...
... American Free Trade Agreement (NAFTA) member countries on U.S. domestic catfish industry. Asche et al (2005) studied the swordfish import of the United States and find that demand is inelastic for all products, indicating a limited degree of substitution possibilities. Ligeon et al (2007) used a sou ...
Importance of quantity
... Net weight / Quantity must be reported as is, not estimated The data must come from more than two reporting countries. There must be at least 30 observations in the sample The relative standard deviation must be less than or equal to 1.75, or it must be between 1.75 and 3, provided that its multimod ...
... Net weight / Quantity must be reported as is, not estimated The data must come from more than two reporting countries. There must be at least 30 observations in the sample The relative standard deviation must be less than or equal to 1.75, or it must be between 1.75 and 3, provided that its multimod ...
THE IMPACT OF TRADE OPENNESS ON ECONOMIC GROWTH
... developing countries, Rodrik (1997) proposed the accumulation of human capital, physical infrastructures, macroeconomic stability, private sector development and the rule of law. In addition to this, Abramovitz (1986) and Howitt (2000) support that host economies should have a sufficiently high leve ...
... developing countries, Rodrik (1997) proposed the accumulation of human capital, physical infrastructures, macroeconomic stability, private sector development and the rule of law. In addition to this, Abramovitz (1986) and Howitt (2000) support that host economies should have a sufficiently high leve ...
Trade Costs and Business Cycle Transmission in a
... standard deviations across G7 countries. The data suggest the following: Output is positively correlated across countries; consumption’s cross-country correlation is as high as output’s; investment is positively correlated across countries; labor input is positively correlated across countries; net ...
... standard deviations across G7 countries. The data suggest the following: Output is positively correlated across countries; consumption’s cross-country correlation is as high as output’s; investment is positively correlated across countries; labor input is positively correlated across countries; net ...
Fragmentation versus Unity of the World Economy
... the one hand, which refers to the increase of the trade among the members of an RTA thanks to the elimination of the trade barriers. On the other hand, however, they may lead to trade diversion, by which non-member states are afflicted. The trade diversion is caused by the trade barrier increase whi ...
... the one hand, which refers to the increase of the trade among the members of an RTA thanks to the elimination of the trade barriers. On the other hand, however, they may lead to trade diversion, by which non-member states are afflicted. The trade diversion is caused by the trade barrier increase whi ...
Trade in Tasks, Tariff Policy and Effective Protection Rates
... for explaining bilateral trade from a network perspective: bilateral “trade in tasks” as economists call it, or “trade in value-added”, using the denomination preferred by statisticians, 1 depends not only of comparative advantages between two countries, but also on their trade partners. The capacit ...
... for explaining bilateral trade from a network perspective: bilateral “trade in tasks” as economists call it, or “trade in value-added”, using the denomination preferred by statisticians, 1 depends not only of comparative advantages between two countries, but also on their trade partners. The capacit ...
Indicators of quality adjusted price competitiveness
... intermediate goods in Kugler and Verhoogen (2012) or in Hallak and Sivadasan forthcoming-. Producing high-quality goods requires high-quality inputs with highwage or high-cost. Marginal costs are then increasing in the level of product quality. In a framework of heterogeneous firms and endogenous p ...
... intermediate goods in Kugler and Verhoogen (2012) or in Hallak and Sivadasan forthcoming-. Producing high-quality goods requires high-quality inputs with highwage or high-cost. Marginal costs are then increasing in the level of product quality. In a framework of heterogeneous firms and endogenous p ...
Advanced International Trade: Theory and Evidence, Second
... home country has a comparative advantage in producing good 1, meaning that a1/a2 < a)1 /a)2. This implies that the home autarky relative price of good 1 is lower than that abroad. Now letting the two countries engage in international trade, what is the equilibrium price p at which world demand equal ...
... home country has a comparative advantage in producing good 1, meaning that a1/a2 < a)1 /a)2. This implies that the home autarky relative price of good 1 is lower than that abroad. Now letting the two countries engage in international trade, what is the equilibrium price p at which world demand equal ...