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Trade Income Levels And Dependence
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Book Synopsis Trade, Income Levels, and Dependence by : Michael Michaely
Download or read book Trade, Income Levels, and Dependence written by Michael Michaely and published by North Holland. This book was released on 1984 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Study of the theory and measurement of economic dependence on international trade structure - discusses Terms of Trade, import and export ratios and their implications for world trade; suggests a classification of intermediate and final goods; examines the geographic commodity concentration, national level shares in world markets and national income level of goods; discusses trade policies. References, statistical tables.
Book Synopsis Income levels & the structure of trade by : Michael Michaely
Download or read book Income levels & the structure of trade written by Michael Michaely and published by . This book was released on 1981 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Income Levels and the Structure of Trade by : Michael Michaely
Download or read book Income Levels and the Structure of Trade written by Michael Michaely and published by . This book was released on 1978 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Putting Per-capita Income Back Into Trade Theory by : James R. Markusen
Download or read book Putting Per-capita Income Back Into Trade Theory written by James R. Markusen and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: A major role for per-capita income in international trade, as opposed to simply country size, was persuasively advanced by Linder (1961). Yet this crucial element of Linder's story was abandon by most later trade economists in favor of the analytically-tractable but counter-empirical assumption that all countries share identical and homothetic preferences. This paper collects and unifies a number of disjoint points in the existing literature and builds further on them using simple and tractable alternative preferences. Adding non-homothetic preferences to a traditional models helps explain such diverse phenomenon as growing wage gaps, the mystery of the missing trade, home bias in consumption, and the role of intra-country income distribution, solely from the demand side of general equilibrium. With imperfect competition, we can explain higher markups and higher price levels in higher per-capita income countries, and the puzzle that gravity equations show a positive dependence of trade on per-capita incomes, aggregate income held constant. In all cases, the effects of growth are quite different depending on whether it is growth in productivity or through factor accumulation. The paper concludes with some suggestions for calibration, estimation, and gravity equations
Book Synopsis Causes and Consequences of Income Inequality by : Ms.Era Dabla-Norris
Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
Book Synopsis Trade and Economic Development by : Ngoc Thien Anh Pham
Download or read book Trade and Economic Development written by Ngoc Thien Anh Pham and published by . This book was released on 2016 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Improving living standards is a key priority for both policymakers and researchers. While trade is positively associated with income levels, finding evidence on the causal effect that trade may have on living standards is a challenge because decisions on whether to trade and how much to trade are not random. This thesis offers evidence on the extent to which trade activities can affect economic development in three groups of less developed countries: least developed countries (LDCs), landlocked developing countries (LLDCs), and Sub-Saharan African countries (SSAs). First, the thesis investigates if a reduction in child mortality can be achieved by increasing trade in 48 LDCs between 1995 and 2012, and whether this effect depends on a country's type of political regime, namely, democracy or autocracy. While trade empirically promotes income levels, whether the benefits of trade activities do trickle down to ordinary citizens is questionable and may be influenced by political institutions. The thesis adopts an instrumental variable approach in a panel country and year fixed effects model to deal with unobserved factors and reverse causality. To do so, the thesis employs a known trade cost indicator that exploits information of bulk dry shipping costs captured by the Baltic Dry Index (BDI). The thesis finds that regardless of political regimes, there is no evidence that under-5 child mortality rate responds to trade arising from a cheaper shipping cost. Indeed, in autocratic LDCs, trade could even cause the child mortality rate to rise. To explore why this is the case, the thesis investigates the effect that trade might have on the environment. Evidently, trade could increase pollution, and this subsequent increase in pollution in turn relates to an increase in child mortality. Second, the thesis investigates the effect of trade cost on economic development in 31 LLDCs between 2001 and 2012. Lacking direct sea access, the LLDCs have expensive trade costs for shipping goods, which is considered a major reason for the LLDCs'underdevelopment. Given that the LLDCs may rely on container freight for trade because of the long distances over land, the thesis proposes a new measurement of trade cost by exploiting information from the Harpex index, an international container shipping rate. The thesis employs a recent advancement in panel data estimation - the interactive fixed effect which has the ability to deal with a large class of unobserved confounding information. Consequently, a reduction in trade cost is found to benefit the LLDCs substantially, in such was as higher income levels and better health conditions. The thesis also finds that a trade elasticity of income is roughly 1 for the LLDCs, which is about five times that estimated for the world as a whole, suggesting that trade can be a powerful force for the LLDCs progress. Finally, the thesis investigates the effect of exports on urbanization in 48 SSAs between 1985 and 2012. As a feature of development, the high rate of urbanization may reflect improvements in living standards in the SSAs. Finding factors contributory to determining urbanization is important to the SSAs, that are among the worlds poorest countries and home to 13% of the worlds population. The thesis adopts a novel estimator, the correlated common effects (CCE) estimator, which employs interactive fixed effects to handle a large class of omitted and potentially confounding variables and cross-sectional dependence. The thesis uses a known instrumental variable for exports, the BDI cost, which is relevant to the SSAs to address the possibility of reverse causality. An expansion in exports is found to increase the urbanization rate, expand the size of primate cities and reduce income levels of these cities. The thesis also finds that an increase in exports can improve the accessibility of water and sanitation facilities for urban residents, but at a cost of expanding an urban-rural gap in water access and sanitation facilities. To explain how exports can affect urbanization, the thesis examines the effect of exports on shaping a country's production in agriculture, manufacturing and services. Evidently, higher exports could expand the size of the services sector, which in turn relates to the urbanization process in the SSAs.
Book Synopsis Changing Patterns of Global Trade by : Nagwa Riad
Download or read book Changing Patterns of Global Trade written by Nagwa Riad and published by International Monetary Fund. This book was released on 2012-01-15 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.
Book Synopsis A Practical Guide to Trade Policy Analysis by : Marc Bacchetta
Download or read book A Practical Guide to Trade Policy Analysis written by Marc Bacchetta and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development
Book Synopsis The Atlas of Economic Complexity by : Ricardo Hausmann
Download or read book The Atlas of Economic Complexity written by Ricardo Hausmann and published by MIT Press. This book was released on 2014-01-17 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maps capture data expressing the economic complexity of countries from Albania to Zimbabwe, offering current economic measures and as well as a guide to achieving prosperity Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products. Through the graphical representation of the "Product Space," the authors are able to identify each country's "adjacent possible," or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling. Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity.
Book Synopsis Trade Integration in Latin America: A Network Perspective by : Ms.Kimberly Beaton
Download or read book Trade Integration in Latin America: A Network Perspective written by Ms.Kimberly Beaton and published by International Monetary Fund. This book was released on 2017-06-30 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper applies a network analysis framework to analyze the regional and global integration of Latin American and Caribbean (LAC) countries. We compare network-based measures of trade integration to conventional measures, decomposing integration along several dimensions to better understand the sources of trade connectivity and their impact on growth. The paper finds that LAC countries are relatively well integrated in terms of links to diversified markets, but the strength of those links is weak. Comparing trade integration to predictions from gravity models, we find many LAC countries have significant scope to improve connectivity and increase their roles in regional and world trade networks.
Book Synopsis Export Diversification in Low-Income Countries and Small States: Do Country Size and Income Level Matter? by : Dongyeol Lee
Download or read book Export Diversification in Low-Income Countries and Small States: Do Country Size and Income Level Matter? written by Dongyeol Lee and published by International Monetary Fund. This book was released on 2019-05-24 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Export structure is less diversified in low-income countries (LICs) and especially small states that face resource constraints and small economic size. This paper explores the potential linkages between export structure and economic growth and its volatility in LICs and small states, using a range of indices of export concentration differing in the coverage of industries. The empirical analysis finds that export diversification may promote economic growth and reduce economic volatility in these countries. Furthermore, the analysis demonstrates that the economic benefits of export diversification differ by country size and income level—there are bigger benefits for relatively larger and poorer countries within the group of LICs and small states.
Book Synopsis Rigged Rules and Double Standards by : Kevin Watkins
Download or read book Rigged Rules and Double Standards written by Kevin Watkins and published by Oxfam. This book was released on 2002 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical and detailed analysis of inequalities of world trade systems.
Book Synopsis Rising Income Inequality by : Chris Papageorgiou
Download or read book Rising Income Inequality written by Chris Papageorgiou and published by International Monetary Fund. This book was released on 2008-07 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the relationship between trade and financial globalization and the rise in inequality in most countries in recent decades. We find technological progress as having a greater impact than globalization on inequality. The limited overall impact of globalization reflects two offsetting tendencies: whereas trade globalization is associated with a reduction in inequality, financial globalization-and foreign direct investment in particular-is associated with an increase. A key finding is that both globalization and technological changes increase the returns on human capital, underscoring the importance of education and training in both developed and developing countries in addressing rising inequality.
Book Synopsis The Role of Trade in Ending Poverty by :
Download or read book The Role of Trade in Ending Poverty written by and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Role of Trade in Ending Poverty looks at the complex relationships between economic growth, poverty reduction and trade, and examines the challenges that poor people face in benefiting from trade opportunities. Written jointly by the World Bank Group and the WTO, the publication examines how trade could make a greater contribution to ending poverty by increasing efforts to lower trade costs, improve the enabling environment, implement trade policy in conjunction with other areas of policy, better manage risks faced by the poor, and improve data used for policy-making.
Book Synopsis Product Characteristics in International Economics by : Stephan Huber
Download or read book Product Characteristics in International Economics written by Stephan Huber and published by Springer. This book was released on 2018-04-16 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: National economies are linked through flows of capital and goods. This book addresses those linkages, analyzes their benefits for economic development, and evaluates a country’s opportunities to reap the best possible rewards by influencing the linkages. The book focuses on the role of product characteristics in international economics and their impact on economic development. After an introduction to the topic, it analyzes the influence of product sophistication on growth, and offers alternative means of measuring product characteristics. In turn, the book provides evidence for the impact of foreign equity on the characteristics of the products that firms produce. Moreover, it presents empirical findings that prove that the quality of a country's legal and institutional framework is influenced by said country’s predisposition to trade rule-of-law-intensive goods.
Book Synopsis Globalization and Poverty by : Ann Harrison
Download or read book Globalization and Poverty written by Ann Harrison and published by University of Chicago Press. This book was released on 2007-11-01 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.
Book Synopsis World Development Report 2020 by : World Bank
Download or read book World Development Report 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-19 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
