Trade Liberalization Macroeconomic Adjustment And Welfare

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Trade Liberalization, Macroeconomic Adjustment, and Welfare

Author : Hamid Faruqee
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Trade Liberalization, Macroeconomic Adjustment, and Welfare by : Hamid Faruqee

Download or read book Trade Liberalization, Macroeconomic Adjustment, and Welfare written by Hamid Faruqee and published by International Monetary Fund. This book was released on 2006-12 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade liberalization leads to long-run gains, but it can also involve costly short-run macroeconomic adjustment. The paper explores the relative importance of these effects within a dynamic general equilibrium model that captures key elements of both international trade and macroeconomic models. The welfare effect of trade liberalization is decomposed into a steady-state efficiency gain and a transitional loss associated with wage-price stickiness. Our estimates show that the transitional loss is small relative to the steady-state gain, and tends to be lower under flexible as compared to fixed exchange rates. We also show that the loss can be reduced further by a flexible price-level targeting policy rule.

The Expected Benefits of Trade Liberalization for World Income and Development

Author : Antoine Bouët
Publisher : Intl Food Policy Res Inst
ISBN 13 : 0896295109
Total Pages : 176 pages
Book Rating : 4.8/5 (962 download)

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Book Synopsis The Expected Benefits of Trade Liberalization for World Income and Development by : Antoine Bouët

Download or read book The Expected Benefits of Trade Liberalization for World Income and Development written by Antoine Bouët and published by Intl Food Policy Res Inst. This book was released on 2008-01-01 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: Development experts often promote trade liberalization as a path to economic development and poverty alleviation. This study examines the trade models used to support such claims. The author surveys the methodologies used to assess trade liberalization’s impact and examines the extent to which assessments of impact diverge. Through careful analysis of models and their results, the author provides a more nuanced assessment of the liberalization’s possible benefits

Trade Liberalization and Poverty

Author : Neil McCulloch
Publisher : Centre for Economic Policy Research
ISBN 13 : 9781898128625
Total Pages : 436 pages
Book Rating : 4.1/5 (286 download)

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Book Synopsis Trade Liberalization and Poverty by : Neil McCulloch

Download or read book Trade Liberalization and Poverty written by Neil McCulloch and published by Centre for Economic Policy Research. This book was released on 2001 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: Openness to trade is a key element of economic policy; continuing extreme poverty in developing countries is a disgrace. This Handbook examines how concerns about the world's poor should affect our attitude towards trade liberalization. Part I draws on economic analysis and practical experience to construct a framework to analyse the links between trade liberalization and poverty. It shows policy-makers how to identify the critical features in their economies so they can ensure that the poor benefit from liberalization. Part II explores the reform of particular sectors -- agriculture, services, etc., and particular instruments of trade policy -- export subsidies, anti-dumping measures, etc. It presents an economic analysis of each type of reform, shows the likely outcome for the poor, and discusses the issue's status on the World Trade Organization's agenda. Book jacket.

Welfare and Work in the Open Economy: Volume I: From Vulnerability to Competitivesness in Comparative Perspective

Author : Fritz W. Scharpf
Publisher : OUP Oxford
ISBN 13 : 0191529001
Total Pages : 420 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis Welfare and Work in the Open Economy: Volume I: From Vulnerability to Competitivesness in Comparative Perspective by : Fritz W. Scharpf

Download or read book Welfare and Work in the Open Economy: Volume I: From Vulnerability to Competitivesness in Comparative Perspective written by Fritz W. Scharpf and published by OUP Oxford. This book was released on 2000-11-23 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this ground-breaking, two-volume study of the adjustment of advanced welfare states to international economic pressures, leading scholars detail the wide variety of responses in twelve countries. Rejecting any notion of convergence to some kind of neo-liberal orthodoxy, they find that most countries have remained true to the basic features their postwar model as they have liberalized. Moreover, within differenct welfare-state constellations, while some countries are still struggling to adjust, others have reached a new sustainable equilibrium. Volume I presents comparative analyses of differences in countries' vulnerabilities and capabilities, the effectiveness of their policy responses, and the role of values and discourse in the politics of adjustment. Volume II presents in-depth analyses of the experiences of Australia, Austria, Belgium, Denmark, France, Germany, Italy, the Netherlands, New Zealand, Sweden, Switzerland and the United Kingdom as well as special studies on the participation of women in the labor market, early retirement, the liberalization of public services, and international tax competition.

Trade Liberalization

Author : Romain Wacziarg
Publisher : Edward Elgar Publishing
ISBN 13 : 9781788111492
Total Pages : 0 pages
Book Rating : 4.1/5 (114 download)

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Book Synopsis Trade Liberalization by : Romain Wacziarg

Download or read book Trade Liberalization written by Romain Wacziarg and published by Edward Elgar Publishing. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This compelling two-volume collection presents the major literary contributions to the economic analysis of the consequences of trade liberalization on growth, productivity, labor market outcomes and economic inequality. Examining the classical theories that stress gains from trade stemming from comparative advantage, the selection also comprises more recent theories of imperfect competition, where any potential gains from trade can stem from competitive effects or the international transmission of knowledge. Empirical contributions provide evidence regarding the explanatory power of these various theories, including work on the effects of trade openness on economic growth, wages, and income inequality, as well as evidence on the effects of trade on firm productivity, entry and exit. Prefaced by an original introduction from the editor, the collection will to be an invaluable research resource for academics, practitioners and those drawn to this fascinating topic.

Adjusting to Trade Policy Reform

Author : Steven J. Matusz
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Adjusting to Trade Policy Reform by : Steven J. Matusz

Download or read book Adjusting to Trade Policy Reform written by Steven J. Matusz and published by . This book was released on 2016 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: A survey of more than 50 empirical papers shows that the adjustment costs of trade liberalization are small relative to the benefits. Moreover, manufacturing employment typically increases with trade liberalization. The limited data suggest that trade liberalization reduces poverty.Virtually all of the studies that quantify the adjustment costs of trade liberalization relative to the benefits point to the conclusion that adjustment costs are small in relation to the benefits of trade liberalization.The explanation for low adjustment costs is that: These costs are typically short term and end when workers find a job, but the benefits grow as the economy does. Unemployment doesn't last long, especially where workers' pay was not substantial in the original job. Normal labor turnover often exceeds job displacement from trade liberalization.Moreover, studies that examine the impact of trade liberalization on employment in developing countries find there is little decline - and usually an increase - in manufacturing employment in developing countries a year after trade liberalization, for three reasons: Developing countries tend to have comparative advantage in labor-intensive industries, and trade liberalization tends to favor labor. Interindustry shifts occur after trade liberalization, which minimizes the dislocation of factors of production. In many industries normal labor turnover exceeds dislocation from trade liberalization, so downsizing, when necessary, can be accomplished without much forced unemployment. Matusz and Tarr recommend a uniform tariff to minimize special-interest lobbying for protection since it diffuses the benefits of protection.This paper - a product of Trade, Development Research Group - is part of larger effort in the group to examine how trade liberalization affects growth and poverty reduction. David Tarr may be contacted at dtarr @worldbank.org.

How Expectations Affect Reform Dynamics in Developing Countries

Author : Francesco Daveri
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 51 pages
Book Rating : 4./5 ( download)

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Book Synopsis How Expectations Affect Reform Dynamics in Developing Countries by : Francesco Daveri

Download or read book How Expectations Affect Reform Dynamics in Developing Countries written by Francesco Daveri and published by World Bank Publications. This book was released on 1991 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bold moves were effective in trade reform in Chile, Turkey, and Venezuela. But discredited governments, in countries with a history of policy failure, are probably better off sending no signals of policy reform and approaching it in small, cautious steps.

Welfare and Work in the Open Economy: Volume II: Diverse Responses to Common Challenges in Twelve Countries

Author : Fritz W. Scharpf
Publisher : Oxford University Press
ISBN 13 : 0199240914
Total Pages : 679 pages
Book Rating : 4.1/5 (992 download)

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Book Synopsis Welfare and Work in the Open Economy: Volume II: Diverse Responses to Common Challenges in Twelve Countries by : Fritz W. Scharpf

Download or read book Welfare and Work in the Open Economy: Volume II: Diverse Responses to Common Challenges in Twelve Countries written by Fritz W. Scharpf and published by Oxford University Press. This book was released on 2000-09-07 with total page 679 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this ground-breaking, two-volume study of the adjustment of advanced welfare states to international economic pressures, leading scholars detail the wide variety of responses in twelve countries. Rejecting any notion of convergence to some kind of neo-liberal orthodoxy, they find that most countries have remained true to the basic features of their postwar model as they have liberalized. Moreover, within different welfare- state constellations, while some countries are stillstruggling to adjust, others have reached a new sustainable equilibrium. Volume I presents comparative analyses of differences in countries' vulnerabilities and capabilities, the effectiveness of the policy responses, and the role of values and discourse in the politics of adjustment. Volume II presentsin-depth analyses of the experiences of Australia, Austria, Belgium, Denmark, France, Germany, Italy, the Netherlands, New Zealand, Sweden, Switzerland, and the United Kingdom as well as special studies on the the participation of women in the labour market, early retirement, the liberalization of public services, and international tax competition.

Free Trade In The World Economy

Author : Herbert Giersch
Publisher : Routledge
ISBN 13 : 0429689837
Total Pages : 633 pages
Book Rating : 4.4/5 (296 download)

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Book Synopsis Free Trade In The World Economy by : Herbert Giersch

Download or read book Free Trade In The World Economy written by Herbert Giersch and published by Routledge. This book was released on 2019-03-04 with total page 633 pages. Available in PDF, EPUB and Kindle. Book excerpt: International trade policy is facing a cross-roads. This is creating uncertainty, impairing world economic growth. Unless a policy of more open markets is pursued, protectionism may well turn into a self-perpetuating and cumulative process. This is why the 1986 Kiel Conference was devoted to Free Trade in the World Economy: Towards an Opening of Markets. We felt that such a conference would help to stimulate policy discussion preceding the Uruguay Round under the auspices of the GATT and the moves within the European Community towards completing a common internal market by 1992.

Trade Liberalization in China's Accession to the World Trade Organization

Author : Elena Ianchovichina
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4./5 ( download)

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Book Synopsis Trade Liberalization in China's Accession to the World Trade Organization by : Elena Ianchovichina

Download or read book Trade Liberalization in China's Accession to the World Trade Organization written by Elena Ianchovichina and published by World Bank Publications. This book was released on 2001 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's forthcoming access to the World Trade Organization involves reform in many sectors, both domestic and trade-related. The starting point for reform is a partially reformed economy with relatively high import duties, in which export sectors benefit from liberal duty exemptions on inputs. Both China and its major trading partners will gain from access - with China gaining most (perhaps half of the estimated $56 billion in annual welfare gains). Some developing countries will suffer small losses because of increased competition from China. The adjustments required are greatly reduced by China's dramatic liberalization in the 1990s.

The Inequality Adjusted Gains from Trade

Author : Erhan Artuc
Publisher : Springer
ISBN 13 : 9783030930622
Total Pages : 0 pages
Book Rating : 4.9/5 (36 download)

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Book Synopsis The Inequality Adjusted Gains from Trade by : Erhan Artuc

Download or read book The Inequality Adjusted Gains from Trade written by Erhan Artuc and published by Springer. This book was released on 2023-02-10 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the relationship between trade liberalization policies and income inequality in developing countries. Using survey data for 54 developing countries, the book explores the potential trade-off between the gains from trade and the distribution of those gains and provides a quantification of the inequality-adjusted welfare gains from trade. The book begins with an introduction to the model and its methodology. Chapter 2 sets up the model and derives the formulas for the welfare effects of trade policy. Chapter 3 uses the tariff data and the survey data to estimate those welfare effects in 54 countries. Chapter 4 discusses the gains from trade and their distribution. Chapter 5 evaluates and quantifies the trade-off between income gains and inequality costs of trade. Chapter 6 presents robustness tests and results from alternative models of the impacts of trade. The last chapter reviews the Household Impacts of Trade database and dashboard, which provides data for replication and a platform that allows researchers to simulate agricultural tariff policy shocks. Providing a comprehensive empirical analysis of the effects of trade policy on inequality in developing countries, this volume will be of interest to researchers and students of economic inequality, development, and international trade as well as policymakers interested in the inequality and poverty consequences of trade policy.

Globalization and Poverty

Author : Ann Harrison
Publisher : University of Chicago Press
ISBN 13 : 0226318001
Total Pages : 674 pages
Book Rating : 4.2/5 (263 download)

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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.

Trade Policies for Development and Transition

Author : David G Tarr
Publisher : World Scientific Publishing Company
ISBN 13 : 9813108444
Total Pages : 695 pages
Book Rating : 4.8/5 (131 download)

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Book Synopsis Trade Policies for Development and Transition by : David G Tarr

Download or read book Trade Policies for Development and Transition written by David G Tarr and published by World Scientific Publishing Company. This book was released on 2016-12-29 with total page 695 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author has virtually incomparable experience in both providing trade policy advice to more than 25 countries on behalf of the World Bank and also publishing quality journal articles in most of those cases. In this volume, he focuses on his work on: (i) trade policies for countries making the transition from planned to market economies; (ii) his trade policy guideline papers for the World Bank on trade policies for poverty alleviation, uniform tariff policy, adjustment costs of trade liberalization, exchange rate overvaluation, globalization and technology transfer and rules of thumb on regional trade policies; (iii) multilateral, dynamic and environmental issues in trade policy using computable general equilibrium models; (iv) trade policy of the United States in the auto and steel industries; and (v) mathematical methods for modeling. The papers show an unusual combination of policy relevance, advice and impact, with rigor and international trade theory insights. The papers in this volume have appeared in many of the economics profession's more prestigious journals, including Econometrica, Review of Economic Studies, Quarterly Journal of Economics, Economic Journal, the Journal of International Economics, International Economic Review, European Economic Review, Canadian Journal of Economics, Economic Inquiry, the Journal of Comparative Economic, Review of International Economics, World Economy, the Southern Economic Journal, the World Bank Economic Review, the Japanese Economic Review and the Latin American Journal of Economics. In this book, the author elaborates on the articles by discussing some of the policy contexts for the requests for the work from developing and transition countries to the World Bank, the key trade theory or policy insights, policy recommendations and conclusions and the policy impacts.

Adjusting to Trade Liberalization

Author : Marc Bacchetta
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Adjusting to Trade Liberalization by : Marc Bacchetta

Download or read book Adjusting to Trade Liberalization written by Marc Bacchetta and published by . This book was released on 2003 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication identifies tools at the disposal of governments to smooth adjustment, to minimize an economy's adjustment costs and to alleviate the burden of those who suffer most.--Publisher's description.

Adjusting to Trade Policy Reform

Author : Steven Joseph Matusz
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Adjusting to Trade Policy Reform by : Steven Joseph Matusz

Download or read book Adjusting to Trade Policy Reform written by Steven Joseph Matusz and published by World Bank Publications. This book was released on 1999 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: A survey of more than 50 empirical papers shows that the adjustment costs of trade liberalization are small relative to the benefits. Moreover, manufacturing employment typically increases with trade liberalization. The limited data suggests that trade liberalization reduces poverty.

Welfare Effects of Trade Reform and Macroeconomic Conditions on Labor Market Outcomes and Poverty in Mexico

Author : Teena Marie Archuleta
Publisher :
ISBN 13 :
Total Pages : 124 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Welfare Effects of Trade Reform and Macroeconomic Conditions on Labor Market Outcomes and Poverty in Mexico by : Teena Marie Archuleta

Download or read book Welfare Effects of Trade Reform and Macroeconomic Conditions on Labor Market Outcomes and Poverty in Mexico written by Teena Marie Archuleta and published by . This book was released on 2004 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Trade Agreements

Author : James K. Jackson
Publisher : DIANE Publishing
ISBN 13 : 1437930646
Total Pages : 26 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Trade Agreements by : James K. Jackson

Download or read book Trade Agreements written by James K. Jackson and published by DIANE Publishing. This book was released on 2010-08 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents: (1) Background; (2) An Overview of the Major Agreements: Multilateral Agreements; Regional Trade Agreements; Completed Bilateral Trade Agreements; Signed Bilateral Trade Agreements Requiring Congressional Approval; Pending Bilateral Trade Agreements; (3) Trade Liberalization and the Gains From Trade: Production Gains; Adjustment Costs; Consumption Gains; Economic Growth; (4) Estimating the Economic Impact of Trade Agreements: Overview; The Michigan Model and Estimates; Investment and Capital Flows; Data on Barriers to Trade in Services; (5) Implications for Congress. Charts and tables.