354 results
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2. A life's work on trade and development.
- Author
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Greenaway, David and Morrissey, Oliver
- Subjects
INTERNATIONAL trade ,ECONOMIC development ,INTERNATIONAL economic relations - Abstract
Abstract: This paper reflects on the career contributions of Professor Chris Milner to the literature on international trade and economic development. As such, it not only provides an overview of a life's work, but also sets the context for the nine papers which follow. All of these were specially written for this Special Issue of
The World Economy , and all relate to different areas that Professor Milner worked in. [ABSTRACT FROM AUTHOR]- Published
- 2018
- Full Text
- View/download PDF
3. CONTRIBUTED PAPERS ON DEVELOPMENT AND TRADE.
- Subjects
ECONOMIC development ,INTERNATIONAL trade ,GROSS national product ,INDIAN economy - Abstract
Presents abstracts of studies about economic development and trade, presented at a convention in Rome, Italy in September 1965. 'A Factor Analysis of the Interrelationship Between Social and Political Variables and Per Capita GNP,' by Irma Adelman; 'An Almost Consistent Intertemporal Model for India's Fourth and Fifth Plans,' by Joel Bergsman.
- Published
- 1966
4. Fair trade, business and sustainable development.
- Author
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Young, William and Utting, Karla
- Subjects
UNFAIR competition ,SUSTAINABLE development ,DEVELOPING countries ,ECONOMIC development ,INTERNATIONAL trade - Abstract
Fair trade has never been more popular, with worldwide sales soaring. This editorial to the special issue of Sustainable Development on ‘Fair trade, business and sustainable development’ introduces the topic and papers within the special issue. It discusses the success of the ‘fairtrade’ brand and the impacts of fair trade schemes as well as the future of the brand. The paper concludes that this alternative trading system does work in practical terms and in helping marginalized producers in developing countries. Copyright © 2005 John Wiley & Sons, Ltd and ERP Environment. [ABSTRACT FROM AUTHOR]
- Published
- 2005
- Full Text
- View/download PDF
5. THE REAL EXCHANGE RATE AND DEVELOPMENT THEORY, EVIDENCE, ISSUES AND CHALLENGES.
- Author
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Demir, Firat and Razmi, Arslan
- Subjects
FOREIGN exchange rates ,INTERNATIONAL trade ,ECONOMIC development ,ECONOMIC expansion - Abstract
This paper surveys the theoretical and empirical literature on the effects of the real exchange rate (RER) on international trade, economic development and growth. We summarize the main conceptual issues, briefly discuss the relevance of the RER as an instrument of development policy, provide an overview of the macroeconomic and microeconomic mechanisms that link the RER to trade and long‐run growth and development, analyse the challenges – especially the disconnect between theory and data – that often arise in empirical applications, and discuss new avenues for future research. In the process, we present some updated estimates and illustrative figures. The mechanisms through which the RER influences long‐run growth and structural change remains a promising area of research and the relevance of individual channels in different contexts deserves much more careful investigation. Greater data availability should help fill some of these gaps in our understanding. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
6. INTERNATIONAL CRISES AND DEVELOPING ECONOMIES: LINKAGES AND RECENT EXPERIENCES.
- Author
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Amann, Edmund and Lawson, David
- Subjects
GLOBAL Financial Crisis, 2008-2009 ,ECONOMIC development ,INTERNATIONAL trade ,SURVEYS ,MACROECONOMICS ,MICROECONOMICS ,EMPIRICAL research - Abstract
This article provides the theoretical and empirical context to the papers contained in this special issue. We provide background on the recent developed country financial crisis and perspective via a review of prior shocks and crises. The paper then considers the transmission mechanisms through which economic crises can affect economies and individuals in the developing world. The linkages centre on trade, capital flows and remittances. This section also critically surveys the literature concerning the macroeconomic and microeconomic impact of such crises on developing countries. Finally, we review the papers that comprise the special issue, before providing some policy conclusions. Copyright © 2013 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
7. Virtual trade between separated time zones and growth.
- Author
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Marjit, Sugata and Mandal, Biswajit
- Subjects
INTERNATIONAL trade ,ECONOMIC development ,UNITS of time ,NEOCLASSICAL school of economics ,EXPORTS - Abstract
The purpose of this paper is to propose a model where trade has a direct and positive impact on growth rate of two trading nations beyond the level effect. We use the idea of virtual trade in intermediates induced by non-overlapping time zones and show how trade can increase the equilibrium optimal rate of growth. In this structure the trade impact goes beyond the level effect and directly causes growth. Typically standard models of trade cannot generate an automatic growth impact. Virtual trade may allow production to continue uninterrupted in separated time zones such as between the USA and India, and that can lead to higher growth for both countries. Later we extend the model to incorporate the accumulation of skills which becomes necessary for sustaining steady state growth. [ABSTRACT FROM AUTHOR]
- Published
- 2017
- Full Text
- View/download PDF
8. Trade Liberalisation, Economic Development and Poverty Alleviation.
- Author
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Sapsford, David and Garikipati, Supriya
- Subjects
INTERNATIONAL trade ,ECONOMIC development ,COMMERCIAL policy ,COMMERCE ,POVERTY ,INTERNATIONAL economic relations ,TRADE regulation - Abstract
In a distinguished career spanning more than four decades, Jagdish Bhagwati has made numerous contributions to both trade theory and trade policy analysis. The current paper focuses on Bhagwati's major contribution to the ongoing debate surrounding the influence of trade liberalisation upon economic development and its potential to alleviate poverty in the world's poorest economies. In order to highlight Bhagwati's contributions in these fields we focus on the arguments developed in two of his numerous landmark publications; first his seminal 1964 paper on the Pure Theory of International Trade and, second, his 2004 book entitled In Defense of Globalization. Although separated in time by some four decades we argue that these two publications, despite their very different characters, each demonstrate beyond doubt the significance of Bhagwati's work in improving our understanding of the true nature of international trade and its potential to address questions of global poverty. [ABSTRACT FROM AUTHOR]
- Published
- 2006
- Full Text
- View/download PDF
9. Emissions‐Adjusted International Trade for Sustainable Development in China: Evidence from dynamic autoregressive distributed lags model and kernel based regression.
- Author
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Khan, Zeeshan, Badeeb, Ramez Abubakr, Hassan, Taimoor, Zhang, Changyong, and Elfaki, Khalid Eltayeb
- Subjects
SUSTAINABLE development ,RENEWABLE energy sources ,ECONOMIC development ,INTERNATIONAL trade ,ENVIRONMENTAL quality ,MICROGRIDS - Abstract
Efficient allocation of resources and transition towards cleaner sources of energy are among the key factors in minimizing the negative externalities arising from the growing dependency on fossil fuels. Moreover, environmentally benign trade policies are crucial due to the rapid expansion in global trade and comparative advantage. To explore the relationship between global trade and Consumption‐Based Carbon Emissions (CBCE) in China in the context of renewable energy consumption and energy efficiency from 1990 Q1 to 2020 Q4, this paper employs the dynamic Autoregressive Distributed Lags (Dynamic ARDL) model to evaluate the connection between international trade, renewable energy usage, energy efficiency, and CBCE, with the Kernel‐Based Regularized Least Squares analysis being used to determine the causal association. The findings reveal that GDP and imports are directly linked with CBCE in the long run, while exports, energy efficiency, and renewable energy consumption have a negative significant long‐run and short‐run influence on CBCE. In addition, exports help in the reduction of CBCE by sharing and adapting environmentally friendly technologies adopted in, for example, renewable energy and ecological advancements. Renewable energy promotes the quality of the environment, which is attributable to the performance of renewable energy and environmentally friendly technologies that directly stimulate the reduction of CBCE emissions. By cutting CBCE, energy efficiency tends to boost environmental quality. The research findings have noteworthy policy implications; trade enhances the quality of environment by introducing lower energy intensive production methods and technology that support sustainable development. As a result, this study advocated quite stringent policies in terms of aligning international trade orientation with environmental quality policy in China. Furthermore, energy efficiency policies are required to lower CBCE by focusing on high‐energy‐using industries and providing alternative clean energy sources. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
10. Competitiveness and diversification of services exports in sub‐Saharan Africa.
- Author
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Were, Maureen and Odongo, Maureen
- Subjects
ECONOMIC development ,CUSTOMS unions ,CULTURAL pluralism ,COMPARATIVE method ,COMPARATIVE advantage (International trade) ,INTERNATIONAL trade - Abstract
Trade in services has become the most dynamic segment of international trade. This paper examines the competitiveness of services exports in sub‐Saharan Africa (SSA) for the period 2005–2019 using revealed comparative advantage approach. The analysis shows that although SSA has a comparative advantage in traditional services, that is travel and transport, it has remained less competitive compared to other regions globally, and its share of world services exports is negligible. Moreover, SSA has not developed competitiveness in modern commercial services and, hence, continue to perform poorly. The results suggest only Nigeria and Kenya have so far developed comparative advantage in financial services. SSA's dismal performance of services exports can be attributed to various factors such as technological and infrastructure constraints, protectionist and regulatory barriers. There is need to rethink strategies of revamping and diversifying services esports to spur Africa's trade and economic transformation. These include leveraging the opportunities availed by the African Continental Free Trade Area (AfCFTA). Unexploited opportunities include Africa's rich cultural diversity, recreation, business and conferencing services. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
11. Recent developments on trade and inequality.
- Author
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Dai, Mi
- Subjects
ECONOMIC development ,REAL income ,INCOME inequality ,FREE trade ,INCOME distribution ,REMANUFACTURING - Abstract
This paper surveys developments in the literature on trade and inequality over the past decade. I first discuss the impact of trade on nominal income inequality, with a focus on firm heterogeneity and the role of mobility frictions. Then, I provide an overview of the literature on the redistributional role of government in an open economy. Finally, I assess the current state of studies on how trade affects real income inequality through the expenditure channel. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
12. Institutions, innovation and growth.
- Author
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Silve, Florent and Plekhanov, Alexander
- Subjects
EXPORTS ,INVESTMENTS ,INTERNATIONAL trade ,ECONOMIC development ,TECHNOLOGICAL innovations - Abstract
Abstract: This paper looks at the link between the quality of economic institutions and innovation, and innovation and growth. We construct a measure of the innovation content of individual manufacturing industries and show that countries with stronger economic institutions specialize in more innovation‐intensive industries. Our results also provide evidence that industries involving higher levels of innovation grow relatively faster in countries with better economic institutions. The results suggest that innovation is an important channel through which higher quality economic institutions contribute to better growth performance in the long run. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
13. Fundamentals of Myanmar's Macroeconomy: A Political Economy Perspective.
- Author
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Turnell, Sean
- Subjects
ECONOMIC research ,ECONOMIC development ,PUBLIC finance ,INTERNATIONAL trade ,MYANMAR economy - Abstract
The serial underperformer of the region, Myanmar's economy is largely without the institutions and qualities necessary to achieve genuine economic growth. This paper explores the fundamentals of Myanmar's economy, from a perspective that emphasizes policy and institutional failure as the principal determinants of the country's present circumstances. The paper explores Myanmar's economy in a multifaceted way, examining concerns over economic growth, public finances, monetary and financial policies, corruption, and international trade. Notwithstanding the change in the form of Myanmar's governing institutions following the elections of November 2010, the paper concludes pessimistically as to the likelihood of meaningful economic reform in the foreseeable future. [ABSTRACT FROM AUTHOR]
- Published
- 2011
- Full Text
- View/download PDF
14. How Central Asia to Escape from trade isolation?: Policy targeted scenarios by CGE modelling.
- Author
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Cheong, Inkyo and Turakulov, Valijon
- Subjects
COMMERCIAL policy ,ECONOMIC systems ,INTERNATIONAL trade ,POVERTY rate ,ECONOMIC development ,UNEMPLOYMENT ,TARIFF ,PROTECTIONISM - Abstract
It has been 30 years since Central Asian '‐stan' countries, namely, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, declared their independence in 1991. The Republics have chosen various transition paths from centrally planned to the market‐based economic system. The research found that Central Asian leaders' protectionist policy, on top of the landlocked geographical environment, made trade costly, rendering these countries further isolated. Consequently, economic development slows down, unemployment increases and poverty rate extremes. Eventually, the isolated region (relatively, excluding Kazakhstan) is imprisoned in a low‐income trap and framed into a vicious circle. As a solution for tackling high‐trade costs in the region, this paper utilises the Global Trade Analysis Project (GTAP) Computational General Equilibrium (CGE) modelling to simulate the impacts of implementing policy‐targeted scenarios. The study presents that tariff reduction/elimination and trade facilitation policies could flourish the region by bringing significant economic welfare and robust GDP growth. The trade facilitation scenarios impact the region's economy much more positively than do tariff liberalisation scenarios. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
15. Why has export diversification been so hard to achieve in Africa?
- Author
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Mosley, Paul
- Subjects
DIVERSIFICATION in industry ,INTERNATIONAL trade ,ECONOMIC development ,COMMERCIAL policy ,LOW-income countries ,SUBSIDIES - Abstract
Abstract: This paper addresses two research issues to which Chris Milner has contributed: the role of trade policy in economic development, and the particular development case of Mauritius. On the first issue, the focus is on understanding why so few low‐income countries, especially in Africa, have achieved a sustained level of export diversification. The paper argues that the standard “Washington Consensus” advice on trade policy placed too much emphasis on liberalisation alone and neglected the important role of government policy, in particular the potential to use targeted input subsidies to support the development of export sectors. Mauritius is then discussed as an example of relatively successful subsidy policies that enabled diversification of exports: indeed the only African country to achieve this in a sustained manner. Subsidies are not advocated as a panacea, and it is recognised that they are not always feasible or effective, but they can be part of an export diversification strategy that supports economic growth. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
16. Macroeconomic Effects of Commodity Price Shocks in a Low‐income Economy: The Case of Tobacco in Malawi.
- Author
-
Bangara, Bertha Chipo and Dunne, John Paul
- Subjects
ECONOMIC shock ,TOBACCO industry ,TOBACCO sales & prices ,ECONOMIC development ,TOBACCO products ,INTERNATIONAL trade - Abstract
Abstract: A major concern for developing economies is a dependence on commodities when their prices are volatile as a major change in the international commodity price can have important implications for economic growth. While some cross‐country studies exist, there is lack of country specific studies that take into account the different characteristics of low‐income economies. This paper contributes to the growing literature by considering the case of Malawi and the macroeconomic impact of price shocks in its major export crop of tobacco. Using a structural vector autoregression (SVAR) approach on quarterly Malawian data from 1980:1 to 2012:4, the paper establishes that a positive tobacco price shock has a significant positive impact on the country's gross domestic product, decreasing consumer prices and inducing real exchange rate appreciation. The results are robust to alternative specifications of a SVAR on difference stationary data and cointegrating VAR. The cointegrating VAR confirms the existence of a long run‐relationship among the variables and causality that runs from tobacco prices. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
17. On the sensitivity of trade costs to services trade restrictions†.
- Author
-
Blank, Sven and Egger, Peter H.
- Subjects
REPAIR & maintenance services ,INTERNATIONAL trade ,TRANSACTION costs ,PRICE increases ,ECONOMIC development - Abstract
Services constitute a significant part of GDP and overall trade in modern economies, but little is known about the magnitude of its obstacles. Great effort has been made to establish measures of services trade frictions on the part of the Organization of Economic Cooperation and Development (OECD) and the World Bank. A customary way of using these measures is to employ them in log‐linear regressions to gauge their effect on services trade flows. This may be problematic to the extent that these measures do not capture ad valorem (tariff type price increasing) trade costs. Hence, it is natural to believe that available services trade cost measures may have a nonlinear impact on services trade flows. The present paper documents that this is the case, using nonparametric estimates to quantify the direct impact of important trade cost measures captured by the Services Trade Restrictiveness Index of the OECD on cross‐border services transaction costs and trade. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
18. Trade costs, wage difference, and endogenous growth.
- Author
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Tanaka, Akinori and Yamamoto, Kazuhiro
- Subjects
ECONOMIC development ,ECONOMIC models ,INTERNATIONAL trade ,ECONOMIC equilibrium ,WAGE differentials ,MANUFACTURING industries ,INNOVATIONS in business - Abstract
Copyright of Papers in Regional Science is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2013
- Full Text
- View/download PDF
19. TRADE DIVERSIFICATION, INCOME, AND GROWTH: WHAT DO WE KNOW?
- Author
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Cadot, Olivier, Carrère, Céline, and Strauss‐Kahn, Vanessa
- Subjects
INCOME ,ECONOMIC development ,LITERATURE reviews ,EVOLUTIONARY economics ,INDUSTRIAL productivity ,EMPIRICAL research ,FREE trade ,SURVEYS - Abstract
This paper surveys the empirical literature on export and import diversification and its linkages with growth. We review widely used measures of diversification and the evidence about their evolution focusing on how export diversification relates to trade liberalization and economic development. We also discuss the linkages between trade diversification and productivity at the firm and industry level, highlighting new advances on the linkages between import diversification and productivity. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
20. Recent Regional Agreements: Why So Many, Why So Much Variance in Form, Why Coming So Fast, and Where Are They Headed?
- Author
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Whalley, John
- Subjects
INTERNATIONAL economic relations ,TREATIES ,INTERNATIONAL obligations ,NEGOTIATION ,INTERNATIONAL trade ,ECONOMIC development ,ECONOMIC systems ,INDUSTRIALISM ,DIPLOMACY - Abstract
Recent years have seen a sharp growth in the number of regional agreements both concluded and under negotiation. This paper attempts to document and discuss this growth focusing on US, EU, Chinese, Indian and other agreements. The form, coverage and content of these agreements vary considerably from case to case. The paper asks why so many, why the variation in form, and why the recent acceleration. Implications for the trading system are discussed in a final section. [ABSTRACT FROM AUTHOR]
- Published
- 2008
- Full Text
- View/download PDF
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