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A Tariff Growth Paradox
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Book Synopsis A Tariff-growth Paradox? by : Michael A. Clemens
Download or read book A Tariff-growth Paradox? written by Michael A. Clemens and published by . This book was released on 2001 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a new database to establish two findings covering the first globalization boom before World War I, the second since World War II, and the autarkic interlude in between. First, there is strong evidence supporting a Tariff-Growth Paradox: protection was associated with fast growth before World War II, while it was associated with slow growth thereafter. Second, there is strong evidence supporting regional asymmetry: while the tariff-growth association was powerful and positive in the Core and rich New World before World War II, it was typically weak and negative in the poor Periphery. The paper offers explanations for the Paradox by controlling for a changing world economic environment. It shows how the oft-quoted Sachs-Warner results for 1970-1989 are significantly revised when one controls for trading partners' growth, trading partners' tariffs and the effective distance between them over the longer half-century 1950-1997. Falling partners' tariffs was the most important force accounting for the switch in sign on the tariff-growth connection after 1950. An increase in own tariffs after 1950 hurt growth, but it would not have hurt growth in a world where partners' tariffs were much higher, trading partners' growth much slower, and the world less closely connected by transportation. World environment matters. Leader-country reaction to big world events (like the Great Depression) matter. Followers take notice.
Book Synopsis Tariff-growth Nexus in the Australian Economy, 1870-2002 by :
Download or read book Tariff-growth Nexus in the Australian Economy, 1870-2002 written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Globalization Paradox by : Dani Rodrik
Download or read book The Globalization Paradox written by Dani Rodrik and published by OUP Oxford. This book was released on 2012-05-17 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.
Book Synopsis Trade and Poverty by : Jeffrey G. Williamson
Download or read book Trade and Poverty written by Jeffrey G. Williamson and published by MIT Press. This book was released on 2011-01-07 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the rise of globalization over the past two centuries helps explain the income gap between rich and poor countries today. Today's wide economic gap between the postindustrial countries of the West and the poorer countries of the third world is not new. Fifty years ago, the world economic order—two hundred years in the making—was already characterized by a vast difference in per capita income between rich and poor countries and by the fact that poor countries exported commodities (agricultural or mineral products) while rich countries exported manufactured products. In Trade and Poverty, leading economic historian Jeffrey G. Williamson traces the great divergence between the third world and the West to this nexus of trade, commodity specialization, and poverty. Analyzing the role of specialization, de-industrialization, and commodity price volatility with econometrics and case studies of India, Ottoman Turkey, and Mexico, Williamson demonstrates why the close correlation between trade and poverty emerged. Globalization and the great divergence were causally related, and thus the rise of globalization over the past two centuries helps account for the income gap between rich and poor countries today.
Book Synopsis An Economist’s Guide to Economic History by : Matthias Blum
Download or read book An Economist’s Guide to Economic History written by Matthias Blum and published by Springer. This book was released on 2018-12-08 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: Without economic history, economics runs the risk of being too abstract or parochial, of failing to notice precedents, trends and cycles, of overlooking the long-run and thus misunderstanding ‘how we got here’. Recent financial and economic crises illustrate spectacularly how the economics profession has not learnt from its past. This important and unique book addresses this problem by demonstrating the power of historical thinking in economic research. Concise chapters guide economics lecturers and their students through the field of economic history, demonstrating the use of historical thinking in economic research, and advising them on how they can actively engage with economic history in their teaching and learning. Blum and Colvin bring together important voices in the field to show readers how they can use their existing economics training to explore different facets of economic history. Each chapter introduces a question or topic, historical context or research method and explores how they can be used in economics scholarship and pedagogy. In a century characterised to date by economic uncertainty, bubbles and crashes, An Economist’s Guide to Economic History is essential reading. For further information visit http://www.blumandcolvin.org
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.
Book Synopsis The Cambridge Economic History of Latin America: Volume 2, The Long Twentieth Century by : Victor Bulmer-Thomas
Download or read book The Cambridge Economic History of Latin America: Volume 2, The Long Twentieth Century written by Victor Bulmer-Thomas and published by Cambridge University Press. This book was released on 2006-01-23 with total page 782 pages. Available in PDF, EPUB and Kindle. Book excerpt: An indispensable reference work for anyone interested in Latin America's economic development.
Book Synopsis Global Tariff War by : Ramesh Chandra Das
Download or read book Global Tariff War written by Ramesh Chandra Das and published by Emerald Group Publishing. This book was released on 2021-03-09 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Tariff War: Economic, Political and Social Implications traces the impacts that global tariff wars in international trade can have on the growth of national economies. Offering a range of perspectives from developing economies, this collection presents a unique insight into this complex area of geo-political and economic practice.
Book Synopsis Interpreting the Tariff-growth Correlation of the Late Nineteenth Century by : Douglas A. Irwin
Download or read book Interpreting the Tariff-growth Correlation of the Late Nineteenth Century written by Douglas A. Irwin and published by . This book was released on 2002 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent research has documented a positive relationship between tariffs and growth in the late nineteenth century. Such a correlation does not establish a causal relationship between tariffs and growth, but it is tempting to view the correlation as constituting evidence that protectionist or inward-oriented trade strategies were successful during this period. This paper argues that such a conclusion is unwarranted and that the tariff-growth correlation should be interpreted with care. First, several individual country experiences in the late nineteenth century are not consistent with the view that import substitution promoted growth. For example, the two most rapidly expanding, high tariff countries of the period Argentina and Canada grew because capital imports helped stimulate export-led growth in agricultural staples products, not because of protectionist trade policies. Second, most land-abundant countries (such as Argentina and Canada) imposed high tariffs to raise government revenue, and revenue tariffs have a different structure than protective tariffs. The fact that labor-scarce, land-abundant countries had a high potential for growth and also tended to impose high revenue-generating tariffs confounds the inference that high tariffs were responsible for their strong economic performance during this period.
Book Synopsis Myth and Paradox of the Single Market by :
Download or read book Myth and Paradox of the Single Market written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Annual World Bank Conference on Development Economics 2010, Global by : Justin Yifu Lin
Download or read book Annual World Bank Conference on Development Economics 2010, Global written by Justin Yifu Lin and published by World Bank Publications. This book was released on 2011-05-17 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Annual World Bank Conference on Development Economics (ABCDE) is one of the world s best-known series of conferences for the presentation and discussion of new knowledge on development. The conference provides a forum for the world s leading development thinkers to share new knowledge and ideas. 'Lessons from East Asia and the Global Financial Crisis' was the theme of the ABCDE held in Seoul, Republic of Korea, on June 22 24, 2009. The conference was co-organized by the Government of the Republic of Korea, the Korea Development Institute (KDI), and the World Bank.
Book Synopsis Straight Talk on Trade by : Dani Rodrik
Download or read book Straight Talk on Trade written by Dani Rodrik and published by Princeton University Press. This book was released on 2019-08-27 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Deftly navigating the tensions among globalization, national sovereignty, and democracy, Straight Talk on Trade presents an indispensable commentary on today's world economy and its dilemmas, and offers a visionary framework at a critical time when it is most needed.
Book Synopsis Why Did the Tariff-growth Correlation Reverse After 1950? by : Michael A. Clemens
Download or read book Why Did the Tariff-growth Correlation Reverse After 1950? written by Michael A. Clemens and published by . This book was released on 2002 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a new database to establish a key finding: high tariffs were associated with fast growth before World War II, while associated with slow growth thereafter. The paper offers some explanations for the sign switch by controlling for novel measures of the changing world economic environment. Rejecting alternative explanations based on changing export market growth or transportation cost declines, it shows how the oft-quoted Sachs-Warner result might be turned on its head in a world environment characterized by a moderately higher level of generalized tariff protection. We confirm the spirit of recent findings by Rodrik and Rodr¡guez that postwar tariffs need not be negatively correlated with growth in an unconditional fashion. Just a 4% increase in average tariff rates among trading partners might suffice to reverse any negative relationship between an average country's tariffs and its growth. An increase in own tariffs after 1970 hurt or at least didn't help growth, but it would have helped growth in a world where average trading partners' tariffs were moderately higher. The world environment matters. Leader-country reaction to big world events matters.
Book Synopsis The Politics and the Economics of Integration in Asia and the Pacific by : Shiro Armstrong
Download or read book The Politics and the Economics of Integration in Asia and the Pacific written by Shiro Armstrong and published by Routledge. This book was released on 2011-11-03 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The shape of economic integration in the global and regional economies - and the extent to which goods, services and factors of production move more or less freely across borders - depends not only upon underlying economic conditions but also upon politics. Whether integration is market-led, as has been the case in Asia, or institution-led as in Europe, there are political elements that affect all forms of regional and international economic integration. While geopolitics influences international economic integration, so too does domestic politics. Economic integration in Asia has been driven by rapid unilateral trade and investment liberalization and, while trade and investment patterns have been determined largely by comparative advantage, political forces have also affected patterns of economic interdependence. The form that regional institutions take, and their effectiveness, also depends on political relations between countries. The particular circumstances in Asia, and the relationships between regional economies has profoundly shaped regional institutions and will continue to do so. The chapters in this volume draw on papers originally presented to the 33rd Pacific Trade and Development Conference held in Taipei in 2009 to look in original ways at how politics shape economic integration and its various dimensions in Asia and the Pacific and globally.
Book Synopsis Trade Liberalisation and the Poverty of Nations by : A. P. Thirlwall
Download or read book Trade Liberalisation and the Poverty of Nations written by A. P. Thirlwall and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a meticulously researched and well written book on a subject of immense contemporary academic and policy interest. Prema-chandra Athukorala, Journal of Development Studies The book is a valuable contribution to the analysis of the links between trade liberalisation, poverty and inequality . . . The book is a coherent piece of work offering an abundance of well-researched and argued information, effectively establishing it as a notable contribution to the investigation and understanding of this very important field. Therefore this book is highly recommended as an important publication for everyone interested in this field as it is a powerful guide to the complex questions that emerge when dealing with the issues of trade liberalisation and poverty elimination at international level. Marios Koutsias, International Trade Law and Regulation Thirlwall and Pacheco-López s book makes its contribution by serving as a clearly written synthesis of a diversity of literatures on trade liberalization and its impacts on growth, inequality and wages, and poverty. . . . the book is an excellent one. It should be a required reading companion to any graduate-level trade course. Kevin P. Gallagher, Journal of Human Development and Capabilities This book breaks out of the standard distinction between free trade and protectionism , and shows how to think constructively about trade policy as an instrument of national economic strategy. It is highly recommended for those who wish to think beyond orthodoxy, and especially for those in developing countries who wish to influence negotiations with developed countries and western-based international organisations. Robert Wade, London School of Economics, UK This is a gem of a book. Based on deep understanding of diverse economic theories and empirical evidence, it offers us a succinct but highly informative overview of the controversies surrounding the impact of trade policy on growth, inequality, and macroeconomics. Ha-Joon Chang, University of Cambridge, UK, and author of Kicking Away the Ladder, and Bad Samaritans Free-trade fundamentalism is gradually making way for a more nuanced and historically well-informed understanding of the role that trade policy plays in economic development. Thirlwall and Pacheco-López provide an excellent review of the relevant literature as well as a sophisticated critique of the earlier, simplistic views. As they explain, it is the details the timing, sequencing, and context that determine whether liberalization will succeed. Dani Rodrik, Harvard University, US This book will infuriate the free trade ultras who believe that liberalisation is the answer to every problem and a good thing too. The real world, as Thirlwall and Pacheco-López show clearly and vividly, is different from the world of theoretical models so beloved by today s economic orthodoxy, and they take delight in tweaking the noses of the Washington consensus. History suggests they are right to argue that managed trade is better for developing countries than swallowing large doses of free-trade medicine. Larry Elliott, The Guardian Orthodox trade and growth theory, and the world s multilateral development institutions, extol the virtues of trade liberalisation and free trade for more rapid economic development of poor countries. However, the contemporary reality and history seem to tell a different story. The world economy has experienced an unprecedented period of trade liberalisation in the last thirty years, and yet international and global inequality is widening; domestic poverty (outside of China) is increasing; poor countries exports have grown more slowly than their imports leading to balance of payments crises, and the so-called globalising economies of the world (excluding China and India) have fared no better, and in some cases worse, than those countries that have not liberalised so extensively. This book argues that orthodox theory is based on many unreal assumptions,
Book Synopsis The Cambridge Economic History of Modern Britain by : Roderick Floud
Download or read book The Cambridge Economic History of Modern Britain written by Roderick Floud and published by Cambridge University Press. This book was released on 2014-10-09 with total page 607 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new edition of the leading textbook on the economic history of Britain since industrialization. Combining the expertise of more than thirty leading historians and economists, Volume 2 tracks the development of the British economy from late nineteenth-century global dominance to its early twenty-first century position as a mid-sized player in an integrated European economy. Each chapter provides a clear guide to the major controversies in the field and students are shown how to connect historical evidence with economic theory and how to apply quantitative methods. The chapters re-examine issues of Britain's relative economic growth and decline over the 'long' twentieth century, setting the British experience within an international context, and benchmark its performance against that of its European and global competitors. Suggestions for further reading are also provided in each chapter, to help students engage thoroughly with the topics being discussed.
Download or read book Colossus written by Niall Ferguson and published by Penguin. This book was released on 2005-03-29 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is America an empire? Certainly not, according to our government. Despite the conquest of two sovereign states in as many years, despite the presence of more than 750 military installations in two thirds of the world’s countries and despite his stated intention "to extend the benefits of freedom...to every corner of the world," George W. Bush maintains that "America has never been an empire." "We don’t seek empires," insists Defense Secretary Rumsfeld. "We’re not imperialistic." Nonsense, says Niall Ferguson. In Colossus he argues that in both military and economic terms America is nothing less than the most powerful empire the world has ever seen. Just like the British Empire a century ago, the United States aspires to globalize free markets, the rule of law, and representative government. In theory it’s a good project, says Ferguson. Yet Americans shy away from the long-term commitments of manpower and money that are indispensable if rogue regimes and failed states really are to be changed for the better. Ours, he argues, is an empire with an attention deficit disorder, imposing ever more unrealistic timescales on its overseas interventions. Worse, it’s an empire in denial—a hyperpower that simply refuses to admit the scale of its global responsibilities. And the negative consequences will be felt at home as well as abroad. In an alarmingly persuasive final chapter Ferguson warns that this chronic myopia also applies to our domestic responsibilities. When overstretch comes, he warns, it will come from within—and it will reveal that more than just the feet of the American colossus is made of clay.
