Trade Liberalization
Trade Liberalization

Author: Romain Wacziarg

Publisher: Edward Elgar Publishing

Published: 2018

Total Pages: 0

ISBN-13: 9781788111492

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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.

Income Distribution, Inflation, and Growth
Income Distribution, Inflation, and Growth

Author: Lance Taylor

Publisher: MIT Press

Published: 1991

Total Pages: 316

ISBN-13: 9780262700450

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Structuralist macroeconomics has emerged recently as the only viable theoretical alternative for economists and practitioners in developing countries. Lance Taylor's innovative work represents a landmark in this field. It codifies a new generation of structuralist macroeconomic models that incorporate the economic power relationships of key institutions and groups, integrates both finance and real macroeconomics, and covers a diverse range of experience in the developing world over the past three decades. In an introduction Taylor explains his methodology, describes assumptions underlying the models used, and reviews theories that relate economic growth and the role of financial assets. He then takes up basic structuralist models of a closed economy and moves on to consider the open economy cases. He incorporates the latest developments in the field (inflation, financial crisis, exchange rate management, increasing returns, and the like) in a treatment that departs substantially from economic orthodoxy. Taylor first addresses the question of how to specify "closure" or define the causal structure of macro models. He also considers how income redistribution influences growth and output and how income redistribution interacts with inflation. Next, an investment-driven non-full employment growth model draws on ideas introduced earlier to illustrate how different sorts of macroeconomic policies affect short-run adjustment and growth prospects over time. Taylor then turns to the problems proposed by economic openness in a stylized semi-industrialized country, starting with international trade. A fix-price/flex-price model is developed, and additional models demonstrate cases of policy relevance as well as interactions between class conflict and growth.

Challenges to Globalization
Challenges to Globalization

Author: Robert E. Baldwin

Publisher: University of Chicago Press

Published: 2007-11-01

Total Pages: 560

ISBN-13: 0226036553

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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.

Democracy and Income Inequality
Democracy and Income Inequality

Author: Branko Milanovic

Publisher:

Published: 2004

Total Pages: 0

ISBN-13:

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Ideology, as proxied by a country's dominant religion, seems to be related to inequality. In Judeo-Christian societies increased democratization appears to lead to lower inequality; in Muslim and Confucian societies it has an insignificant effect. One reason for this difference may be that Muslim and Confucian societies rely on informal transfers to reach the desired level of inequality, while Judeo-Christian societies, where family ties are weaker, use political action. Standard political economy theories suggest that democratization has a moderating effect on income inequality. But the empirical literature has failed to uncover any such robust relationship. Gradstein, Milanovic, and Ying take another look at the issue. The authors argue that prevailing ideology may be an important determinant of inequality and that the democratization effect "works through" ideology. In societies that value equality highly there is less distributional conflict among income groups, so democratization may have only a negligible effect on inequality. But in societies that value equality less, democratization reduces inequality through redistribution as the poor outvote the rich. The authors' cross-country empirical analysis, covering 126 countries in 1960-98, confirms the hypothesis: ideology, as proxied by a country's dominant religion, seems to be related to inequality. In addition, while in Judeo-Christian societies increased democratization appears to lead to lower inequality, in Muslim and Confucian societies it has an insignificant effect. The authors hypothesize that Muslim and Confucian societies rely on informal transfers to reach the desired level of inequality, while Judeo-Christian societies, where family ties are weaker, use political action. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to study inequality and income redistribution. The study was funded by the Bank's Research Support Budget under the research projects "Democracy, Redistribution, and Inequality" (RPO 683-01) and "Deriving World Income Distribution in 1988 and 1993" (RPO 683-68).

The Growth Report
The Growth Report

Author: Commission on Growth and Development

Publisher: World Bank Publications

Published: 2008-07-23

Total Pages: 198

ISBN-13: 0821374923

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The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.

International Financial Integration
International Financial Integration

Author: Mr.Gian Milesi-Ferretti

Publisher: International Monetary Fund

Published: 2003-04-01

Total Pages: 46

ISBN-13: 1451850905

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In recent decades, the foreign assets and liabilities of advanced economies have grown rapidly relative to GDP, with the increase in gross cross-holdings far exceeding changes in the size of net positions. Moreover, the portfolio equity and FDI categories have grown in importance relative to international debt stocks. This paper describes the broad trends in international financial integration for a sample of industrial countries and seeks to explain the cross-country and time-series variation in the size of international balance sheets. It also examines the behavior of the rates of return on foreign assets and liabilities, relating them to "market" returns.

Trade and Income Distribution
Trade and Income Distribution

Author: William R. Cline

Publisher: Peterson Institute

Published: 1997

Total Pages: 330

ISBN-13: 9780881322163

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"Cline also finds that trade liberalization has tended to raise skilled wages rather than reduce unskilled wages. Moreover, its impact has probably been no larger than falling transport and communication costs. Most importantly for policy, model simulations for the future show more limited trade impact than in the past and little unequalizing impact of further trade liberalization. Book jacket."--Jacket.

Human Development Report 1996
Human Development Report 1996

Author: United Nations Development Programme

Publisher: Human Development Report

Published: 1996

Total Pages: 157

ISBN-13: 0195111583

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The Human Development Report, now in its seventh edition, updates the unique Human Development Indicators comparing human development in most countries of the world, and the data tables on all aspects of human development. The special focus of this edition is on the important link between economic growth and human development. The Report maintains that the link is not automatic but can be established through proper policy management, arguing the case for initiating and accelerating economic growth and at the same time accelerating and sustaining human development in different parts of the world. The Report also maintains that the quality of growth is as important as its quantity; otherwise, growth can be jobless, voiceless, ruthless, rootless, and futureless. It identifies employment as an important instrument in translating the benefits of economic growth into people's lives.An indispensable resource for courses in international development, the Report ranks 174 countries according to the Human Development Index (HDI). It also gives the global ranking of more than 100 countries in terms of Gender-Related Development Index (GDI) and the Gender Empowerment Measure (GEM). The first index represents HDI, taking into account gender inequality in capabilities, and the second represents female opportunities in selected economic and political areas. New to this edition is the Capability Poverty Measure (CPM), which is used as an alternative to the traditional income poverty measure. The Report concludes that the future challenge is how to forge and sustain the desired kind of linkage between economic growth and human development in a globalized world which represents both opportunities and threats for the nations of the world.

Does Foreign Direct Investment Promote Development?
Does Foreign Direct Investment Promote Development?

Author: Theodore H. Moran

Publisher: Peterson Institute

Published: 2005

Total Pages: 442

ISBN-13: 9780881323818

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This volume gathers the cutting edge of new research on foreign direct investment and host country economic performance, and presents the most sophisticated critiques of current and past inquiries. It presents new results, concludes with an analysis of the implications for contemporary policy debates, and proposed new avenues for future research.