Specialization Market Access And Real Income

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Specialization, Market Access and Real Income

Author : Dominick Bartelme
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Specialization, Market Access and Real Income by : Dominick Bartelme

Download or read book Specialization, Market Access and Real Income written by Dominick Bartelme and published by International Monetary Fund. This book was released on 2024-03-08 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates the impact of external demand shocks on real income. We utilize a first order approximation to a wide class of small open economy models that feature sector-level gravity in trade flows, which allows us to measure foreign shocks and characterize their welfare impact in terms of reducedform elasticities. We use machine learning techniques to group 4-digit manufacturing sectors into a smaller number of clusters, and show that the cluster-level elasticities of income with respect to foreign shocks can be estimated using high-dimensional statistical techniques. Foreign demand shocks in complex intermediate and capital goods have large positive impacts on real income, whereas impacts in other sectors are negligible. We showthat the estimates imply that countries that specialize in these sectors enjoy greater gains from increased openness, and that (small) export subsidies to these sectors are welfare-improving. Finally, a calibrated multisector production and trade model with input-output linkages and external economies of scale can match the empirical estimates.

Specialization, Market Access and Real Income

Author : Dominick Bartelme
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Specialization, Market Access and Real Income by : Dominick Bartelme

Download or read book Specialization, Market Access and Real Income written by Dominick Bartelme and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates the impact of external demand shocks on real income. Our empirical strategy is based on a first order approximation to a wide class of small open economy models that feature sector-level gravity in trade flows. The framework allows us to measure foreign shocks and characterize their impact on income in terms of reduced-form elasticities. We use machine learning techniques to group 4-digit manufacturing sectors into a smaller number of clusters, and show that the cluster-level elasticities of income with respect to foreign shocks can be estimated using high-dimensional statistical techniques. We find clear evidence of heterogeneity in the income responses to different foreign shocks. Foreign demand shocks in complex intermediate and capital goods have large positive impacts on real income, whereas impacts in other sectors are negligible. The estimates imply that the pattern of sectoral specialization plays a quantitatively large role in how foreign shocks affect real income, while geographic position plays a smaller role. Finally, a calibrated multi-sector production and trade model can rationalize both the average and the heterogeneity in real income elasticities to foreign shocks under reasonable values of structural parameters.

Achieving Inclusive Growth in China Through Vertical Specialization

Author : Wei Wang
Publisher : Chandos Publishing
ISBN 13 : 0081006284
Total Pages : 377 pages
Book Rating : 4.0/5 (81 download)

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Book Synopsis Achieving Inclusive Growth in China Through Vertical Specialization by : Wei Wang

Download or read book Achieving Inclusive Growth in China Through Vertical Specialization written by Wei Wang and published by Chandos Publishing. This book was released on 2016-03-17 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: Vertical Specialization and Inclusive Growth in China discusses the two interrelated developments that have transformed the Chinese economy in recent years. First, the global community has increased calls to foster inclusive economic growth, with China embracing this trend. Second, the explosive growth in China's trade resulting from international vertical specialization production and trade networks which has complicated the notion of inclusive growth in the Chinese context. This book assesses these two trends quantitatively, giving evidence of the link between vertical specialization and inclusive growth, and then decomposing the inclusive growth effects of vertically specialized trade into six components: GDP growth, export growth, FDI, environment, employment, and innovation. It further explores the differing impact of conventional trade and processing trade on inclusive growth, providing direction for future policy. This second book by the author to consider vertical specialization stresses the importance of integration in driving inclusive growth. - Argues that inclusive growth and vertical specialization analyses must be performed together - Gives quantitative evidence for the link between vertical specialization and inclusive growth in China - Investigates the different impact of conventional trade and processing trade on transition to inclusive growth in China, using comparative analysis techniques - Offers insight on forming future policy in China to increase inclusive growth

Power Laws in Firm Size and Openness to Trade

Author : Mr.Andrei A. Levchenko
Publisher : International Monetary Fund
ISBN 13 : 1455200689
Total Pages : 33 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Power Laws in Firm Size and Openness to Trade by : Mr.Andrei A. Levchenko

Download or read book Power Laws in Firm Size and Openness to Trade written by Mr.Andrei A. Levchenko and published by International Monetary Fund. This book was released on 2010-04-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Existing estimates of power laws in firm size typically ignore the impact of international trade. Using a simple theoretical framework, we show that international trade systematically affects the distribution of firm size: the power law exponent among exporting firms should be strictly lower in absolute value than the power law exponent among non-exporting rms. We use a dataset of French firms to demonstrate that this prediction is strongly supported by the data. While estimates of power law exponents have been used to pin down parameters in theoretical and quantitative models, our analysis implies that the existing estimates are systematically lower than the true values. We propose two simple ways of estimating power law parameters that take explicit account of exporting behavior.

Does What You Export Matter?

Author : Daniel Lederman
Publisher : World Bank Publications
ISBN 13 : 0821384910
Total Pages : 153 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Does What You Export Matter? by : Daniel Lederman

Download or read book Does What You Export Matter? written by Daniel Lederman and published by World Bank Publications. This book was released on 2012-06-18 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Trade Liberalization Among Major World Trading Areas

Author : John Whalley
Publisher : MIT Press
ISBN 13 : 9780262231206
Total Pages : 336 pages
Book Rating : 4.2/5 (312 download)

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Book Synopsis Trade Liberalization Among Major World Trading Areas by : John Whalley

Download or read book Trade Liberalization Among Major World Trading Areas written by John Whalley and published by MIT Press. This book was released on 1985 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a much needed quantitative response to the classic question of whogains and who loses in trade liberalization and shows how important the process is for the globaleconomy. It contributes significantly to the debate concerning trade between developed anddeveloping countries.John Whalley describes and uses a numerical general equilibrium model of worldtrade to explore issues in the area of trade liberalization among major world trading areas - theEuropean Economic Community, the United States, Japan, and developing countries. His book is uniqueboth in using this framework to analyze world trading patterns, and in considering a number oftrading areas simultaneously within the same model. It is able to quantify the merits of alternativeactions in international trade policy, the ways that the interests of the EEC, the United States,and Japan are similar and ways in which they differ, and show how the interests of less developedcountries are affected by various trade liberalization initiatives.Part I provides a description ofthe model, data sources and adjustments to basic data, and methods for specification and solution ofthe model. Part II presents results from model applications along with policy conclusions.Applications include analysis of tariff cutting formulae in the Toyko Round, an evaluation of theTokyo Round trade agreement, examination of incentives for a retaliatory trade protection 'war'between world trade blocs, and analysis of the impact of protectionist policies on North-Southtrade.John Whalley is Professor of Economics at the University of Western Ontario.

Global Economic Prospects and the Developing Countries

Author :
Publisher : World Bank Publications
ISBN 13 : 9780821349960
Total Pages : 286 pages
Book Rating : 4.3/5 (499 download)

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Book Synopsis Global Economic Prospects and the Developing Countries by :

Download or read book Global Economic Prospects and the Developing Countries written by and published by World Bank Publications. This book was released on 2002 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the annual publication considers the need to reshape the global architecture of world trade, in order to help strengthen the economies of developing countries and reduce world poverty. The report focuses on four policy areas: the establishment of a development round of WTO negotiations to reduce trade barriers; global co-operation to expand trade outside the WTO; the adoption of pro-trade development policies by high-income countries; and enacting trade reforms in developing countries. The findings of the report suggest that developing countries could significantly increase their incomes, if all countries progressively implement the proposed trade reforms. This would result in a world with a much higher standard of living, an estimated 300 million people lifted out of poverty by 2015, and a significant increase in the number of children living beyond their fifth birthday throughout the developing world.

Models of Balance of Payments Constrained Growth

Author : E. Soukiazis
Publisher : Springer
ISBN 13 : 1137023953
Total Pages : 286 pages
Book Rating : 4.1/5 (37 download)

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Book Synopsis Models of Balance of Payments Constrained Growth by : E. Soukiazis

Download or read book Models of Balance of Payments Constrained Growth written by E. Soukiazis and published by Springer. This book was released on 2012-10-15 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book extends Thirlwall's model and adapts its implications to the current problems facing developed and emerging economies. In this context, this book combines theoretical models and empirical applications, unveiling new results and highlighting the importance of the balance of payments as a constraint to growth.

Sustainability of Organic Farming in Nepal

Author : Mrinila Singh
Publisher : Springer
ISBN 13 : 9811056196
Total Pages : 224 pages
Book Rating : 4.8/5 (11 download)

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Book Synopsis Sustainability of Organic Farming in Nepal by : Mrinila Singh

Download or read book Sustainability of Organic Farming in Nepal written by Mrinila Singh and published by Springer. This book was released on 2017-11-07 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the sustainability aspect of organic and conventional farming systems, which is commonly categorized into three sub-aspects: social, environmental and economic. The social structure of a given area, organic friendly technologies, soil properties, crop diversification and income are the elements chosen for comparison, and are analyzed using descriptive and statistical methods. In addition, the book assesses the current status of the local organic market in Nepal and field experiments involving the use of various organic means to achieve better production for selected vegetables. Determining the benefits and/or challenges of organic and conventional farming is important to determining the most viable type of farming in the long term, but can be greatly impacted by a given area’s specific characteristics (social, environmental, political, etc.), which is why this study focuses on a specific location: the Chitwan district of Nepal, where group conversion to organic farming has existed alongside conventional farming for years. This book offers a useful guide for both practitioners and academic researchers who are interested in organic farming and food security, particularly in developing countries.

The Internal Geography of Trade

Author : Thomas Farole
Publisher : World Bank Publications
ISBN 13 : 0821398954
Total Pages : 301 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis The Internal Geography of Trade by : Thomas Farole

Download or read book The Internal Geography of Trade written by Thomas Farole and published by World Bank Publications. This book was released on 2013-04-01 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: While national incomes have converged in recent decades, the emergence of entrenched leading and lagging regions within countries is becoming a critical policy challenge. Drawing on empirical studies and case studies, this book assesses the role of trade integration and connectivity in shaping and addressing the challenges of lagging regions.

Trade and Investment Relations Among the United States, Canada, and Japan

Author : Robert Mitchell Stern
Publisher : University of Chicago Press
ISBN 13 : 9780226773179
Total Pages : 470 pages
Book Rating : 4.7/5 (731 download)

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Book Synopsis Trade and Investment Relations Among the United States, Canada, and Japan by : Robert Mitchell Stern

Download or read book Trade and Investment Relations Among the United States, Canada, and Japan written by Robert Mitchell Stern and published by University of Chicago Press. This book was released on 1989-11-03 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic futures of the United States, Canada, and Japan are tightly linked by the extremely powerful trade network these nations share. Yet because of trade and domestic policies aimed at preserving economic and, some argue, cultural integrity, there has at times been considerable friction among the three nations. Much of the recent trade animus of the U.S. has been aimed Japan, the country with the largest trade surplus with the United States. Canada, the largest trade partner of the U.S., maintains fiscal policies which resemble those of Japan, but has not been the focus of similar concern. Since the actions of each nation reverberate throughout the network, a full and accurate understanding of these complex relations will be essential if ongoing trade negotiations, policymaking, and international relations are to be constructive. The papers in this volume were developed from a conference that addressed the need to discover which structural determinants and policies shape the close economic ties among these nations. Leading experts on trade and macroeconomics from all three countries examine disproportionate saving rates, exchange rate volatility, varying industrial policies and levels of financial innovation, the effects of present tax policies and proposed reforms, and the dynamism of major Pacific nations and the leadership role Japan may play in U.S. relations with that region. Several important conclusions are reached by the contributors. They assert that Japan's trade barriers are relatively low overall and are comparable to those maintained by the United States and Canada, and that divergent fiscal policies have been the major source of macroeconomic imbalances between the United States and other major countries in the 1980s. They also conclude that current trade imbalances may persist for some time. The analyses offered here are likely to prove influential in future policymaking and will be of interest to a wide audience, including academic economists, government officials, and students of theoretical and policy issues of international trade, investment, and finance.

Globalization for Development

Author : Ian Goldin
Publisher : World Bank Publications
ISBN 13 : 082136930X
Total Pages : 332 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Globalization for Development by : Ian Goldin

Download or read book Globalization for Development written by Ian Goldin and published by World Bank Publications. This book was released on 2007-05-16 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization and its relation to poverty reduction and development is not well understood. The book identifies the ways in which globalization can overcome poverty or make it worse. The book defines the big historical trends, identifies main global flows - trade, finance, aid, migration, and ideas - and examines how each can contribute to undermine economic development. By considering what helps and what does not, the book presents policy recommendations to make globalization more effective as a vehicle for shared growth and prosperity. It will be of interest to students, researchers and anyone interested in the effects of globalization in today's economy and in international development issues.

Ensuring Quality to Gain Access to Global Markets

Author : Martin Kellermann
Publisher : World Bank Publications
ISBN 13 : 1464813728
Total Pages : 275 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Ensuring Quality to Gain Access to Global Markets by : Martin Kellermann

Download or read book Ensuring Quality to Gain Access to Global Markets written by Martin Kellermann and published by World Bank Publications. This book was released on 2019-04-09 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a modern world with rapidly growing international trade, countries compete less based on the availability of natural resources, geographical advantages, and lower labor costs and more on factors related to firms' ability to enter and compete in new markets. One such factor is the ability to demonstrate the quality and safety of goods and services expected by consumers and confirm compliance with international standards. To assure such compliance, a sound quality infrastructure (QI) ecosystem is essential. Jointly developed by the World Bank Group and the National Metrology Institute of Germany, this guide is designed to help development partners and governments analyze a country's quality infrastructure ecosystems and provide recommendations to design and implement reforms and enhance the capacity of their QI institutions.

Regional Integration in East Asia

Author : Masahisa Fujita
Publisher : Springer
ISBN 13 : 0230626602
Total Pages : 188 pages
Book Rating : 4.2/5 (36 download)

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Book Synopsis Regional Integration in East Asia by : Masahisa Fujita

Download or read book Regional Integration in East Asia written by Masahisa Fujita and published by Springer. This book was released on 2007-01-30 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book applies a spatial economics perspective to the understanding of the recent dynamism of the global economy, with particular focus on East Asia, and examines the prospects of regional integration in East Asia.

Economic Integration and Spatial Location of Firms and Industries: Transnational corporations and search for evidence

Author : Miroslav N. Jovanović
Publisher :
ISBN 13 :
Total Pages : 834 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Economic Integration and Spatial Location of Firms and Industries: Transnational corporations and search for evidence by : Miroslav N. Jovanović

Download or read book Economic Integration and Spatial Location of Firms and Industries: Transnational corporations and search for evidence written by Miroslav N. Jovanović and published by . This book was released on 2007 with total page 834 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aims to provide a survey of the theoretical foundations of spatial location of firms and industries, and to explore the impact of economic integration on this process. This book is intended for scholars, theorists, policymakers and business executives, who face these challenges to the economy.

Challenges to Globalization

Author : Robert E. Baldwin
Publisher : University of Chicago Press
ISBN 13 : 0226036553
Total Pages : 560 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis Challenges to Globalization by : Robert E. Baldwin

Download or read book Challenges to Globalization written by Robert E. Baldwin and published by University of Chicago Press. This book was released on 2007-11-01 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: People passionately disagree about the nature of the globalization process. The failure of both the 1999 and 2003 World Trade Organization's (WTO) ministerial conferences in Seattle and Cancun, respectively, have highlighted the tensions among official, international organizations like the WTO, the International Monetary Fund (IMF), the World Bank, nongovernmental and private sector organizations, and some developing country governments. These tensions are commonly attributed to longstanding disagreements over such issues as labor rights, environmental standards, and tariff-cutting rules. In addition, developing countries are increasingly resentful of the burdens of adjustment placed on them that they argue are not matched by commensurate commitments from developed countries. Challenges to Globalization evaluates the arguments of pro-globalists and anti-globalists regarding issues such as globalization's relationship to democracy, its impact on the environment and on labor markets including the brain drain, sweat shop labor, wage levels, and changes in production processes, and the associated expansion of trade and its effects on prices. Baldwin, Winters, and the contributors to this volume look at multinational firms, foreign investment, and mergers and acquisitions and present surprising findings that often run counter to the claim that multinational firms primarily seek countries with low wage labor. The book closes with papers on financial opening and on the relationship between international economic policies and national economic growth rates.

Place, Productivity, and Prosperity

Author : Arti Grover
Publisher : World Bank Publications
ISBN 13 : 1464817944
Total Pages : 309 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Place, Productivity, and Prosperity by : Arti Grover

Download or read book Place, Productivity, and Prosperity written by Arti Grover and published by World Bank Publications. This book was released on 2022-02-08 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: Place matters for productivity and prosperity. Myriad factors support a successful place, including not only the hard infrastructure such as roads, but also the softer elements such as worker skills, entrepreneurial ability, and well-functioning institutions. History suggests that prosperous places tend to persist, while “left behind†? regions, or those hurt by climatic, technological, or commercial shocks, struggle to catch up. This division gives rise to demands to “do something†? about the subsequent spatial inequality. Such pressures often result in costly spatially targeted policies whose outcomes disappoint because of a lack of analysis of the underlying barriers to growth and structural transformation and a fair appraisal of the possibility of overcoming them. The latest volume of the World Bank Productivity Project series, Place, Productivity, and Prosperity: Revisiting Spatially Targeted Policies for Regional Development makes three broad contributions. First, it provides new analytical and empirical insights into the three drivers of economic geography—agglomeration economies, migration, and distance—and the way in which they interact. Second, it argues that these forces are playing out differently in developing countries than they have in advanced countries: urbanization is not accompanied by structural transformation, leaving cities simply crowded and accruing all the negative aspects of urbanization without being productively concentrated. Long-term amelioration of poverty in lagging regions requires advancing the overall national agenda of structural change and productivity growth. Third, the volume provides a heuristic framework with which to inform policy makers’ assessments of place-based policy proposals, enabling them to identify the regions in which policy is likely to have an impact and those that are nonviable; to clarify the implications of various policy options; to think critically about policy design priorities, including necessary complementary policies to, for instance, infrastructure investment; and to navigate implementation challenges.