Download or read book Quantifying the Impact of Services Liberalization in a Developing Country written by Denise Eby Konan and published by World Bank Publications. This book was released on 2004 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors consider how service liberalization differs from goods liberalization in terms of welfare, the level and composition of output, and factor prices within a developing economy, in this case Tunisia. Despite recent movements toward liberalization, Tunisian service sectors remain largely closed to foreign participation and are provided at high cost relative to many developing nations. The authors develop a computable general equilibrium (CGE) model of the Tunisian economy with multiple products and services and three trading partners. They model goods liberalization as the unilateral removal of product tariffs. Restraints on services trade involve both restrictions on cross-border supply (mode 1 in the GATS) and on foreign ownership through foreign direct investment (mode 3 in the GATS). The former are modeled as tariff-equivalent price wedges while the latter are comprised of both monopoly-rent distortions (arising from imperfect competition among domestic producers) and inefficiency costs (arising from a failure of domestic service providers to adopt least-cost practices). They find that goods-trade liberalization yields a gain in aggregate welfare and reorients production toward sectors of benchmark comparative advantage. However, a reduction of services barriers in a way that permits greater competition through foreign direct investment generates larger welfare gains. Service liberalization also requires lower adjustment costs, measured in terms of sectoral movement of workers, than does goods-trade liberalization. And it tends to increase economic activity in all sectors and raise the real returns to both capital and labor. The overall welfare gains of comprehensive service liberalization amount to more than 5 percent of initial consumption. The bulk of these gains come from opening markets for finance, business services, and telecommunications. Because these are key inputs into all sectors of the economy, their liberalization cuts costs and drives larger efficiency gains overall. The results point to the potential importance of deregulating services provision for economic development.
Download or read book Quantifying the Impact of Services Liberalization in a Developing Country written by Denise Eby Konan and published by . This book was released on 2016 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Konan and Maskus consider how service liberalization differs from goods liberalization in terms of welfare, the level and composition of output, and factor prices within a developing economy, in this case Tunisia. Despite recent movements toward liberalization, Tunisian service sectors remain largely closed to foreign participation and are provided at high cost relative to many developing nations. The authors develop a computable general equilibrium (CGE) model of the Tunisian economy with multiple products and services and three trading partners. They model goods liberalization as the unilateral removal of product tariffs. Restraints on services trade involve both restrictions on cross-border supply (mode 1 in the GATS) and on foreign ownership through foreign direct investment (mode 3 in the GATS). The former are modeled as tariff-equivalent price wedges while the latter are comprised of both monopoly-rent distortions (arising from imperfect competition among domestic producers) and inefficiency costs (arising from a failure of domestic service providers to adopt least-cost practices). They find that goods-trade liberalization yields a gain in aggregate welfare and reorients production toward sectors of benchmark comparative advantage. However, a reduction of services barriers in a way that permits greater competition through foreign direct investment generates larger welfare gains. Service liberalization also requires lower adjustment costs, measured in terms of sectoral movement of workers, than does goods-trade liberalization. And it tends to increase economic activity in all sectors and raise the real returns to both capital and labor. The overall welfare gains of comprehensive service liberalization amount to more than 5 percent of initial consumption. The bulk of these gains come from opening markets for finance, business services, and telecommunications. Because these are key inputs into all sectors of the economy, their liberalization cuts costs and drives larger efficiency gains overall. The results point to the potential importance of deregulating services provision for economic development.This paper - product of the Trade, Development Research Group - is part of a larger effort in the department to measure the benefits of services trade.
Download or read book The Welfare Implications of Services Liberalization in a Developing Country written by Mr.Nizar Jouini and published by International Monetary Fund. This book was released on 2013-05-15 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose an integrated method based on a two-sector small open economy dynamic and stochastic general equilibrium model to estimate non-tariff barriers and quantify the impact of services liberalization. The major component of trade barriers is explicitly modeled through the introduction of entry-sunk costs. Hence, liberalization is treated assuming a government's policy decision aimed at reducing those costs. Then, we estimate the model using Bayesian techniques for Tunisia and the Euro Area. The paper presents a precise quantitative evaluation of services trade barriers as the difference between entry-sunk costs in Tunisia versus the Euro Area. We find significant welfare benefits in addition to aggregate and sectoral growth gains the Tunisian economy could attain following services liberalization. Surprisingly, the goods sector is the one that benefits the most from services liberalization in the short- and long-term horizons.
Download or read book Measuring Services Trade Liberalization and Its Impact on Economic Growth written by Aaditya Mattoo and published by World Bank Publications. This book was released on 2001 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries that fully liberalize their telecommunications and financial services sectors may be able to expect economic growth rates up to 1.5 percentage point higher than rates in other countries.
Download or read book Quantifying the Benefits of Liberalising Trade in Services written by OECD and published by OECD Publishing. This book was released on 2003-06-04 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amongst other issues, the papers in this volume explore fundamental issues for empirical research on trade in services. It highlights the specific data requirements and conceptual challenges for modelling liberalisation of services.
Download or read book Measuring Services Trade Liberalization and its Impact on Economic Growth written by Aaditya Mattoo and published by . This book was released on 2016 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries that fully liberalize their telecommunications and financial services sectors may be able to expect economic growth rates up to 1.5 percentage points higher than rates in other countries. Mattoo, Rathindran, and Subramanian explain how the output growth effect from liberalizing the service sectors differs from the effect from liberalizing trade in goods. They also suggest using a policy-based rather than outcome-based measure of the openness of a country's services regime. They construct such openness measures for two key service sectors' basic telecommunications and financial services.Finally, the authors provide some econometric evidence - relatively strong for the financial sector and less strong, but nevertheless statistically significant, for the telecommunications sector - that openness in services influences long-run growth performance. Their estimates suggest that growth rates in countries with fully open telecommunications and financial services sectors are up to 1.5 percentage points higher than those in other countries.This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to assess the implications of liberalizing trade in services.
Download or read book Measuring and Analyzing the Impact of GVCs on Economic Development written by World Trade Organization and published by World Trade Organization. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report is about a huge contribution to our deepening understanding of what the global economy really means and how it is changing. The report helpfully distinguishes elements of an economy that are tradable and the large set that are non-tradable. Clearly the tradables set is expanding with the support of enabling technology. The report argues that connectivity in the networks that define the evolving architecture of GVCs is important. This Global Value Chain Development Report is the result of intensive and detailed work in assembling and analyzing data on the structure of economies and on how they are linked. It creates a much clearer picture of evolving patterns of independence. It also presents a much clearer picture of comparative advantage. --Publisher description.
Download or read book Quantifying the Impact of Financial Development on Economic Development written by Jeremy Greenwood and published by DIANE Publishing. This book was released on 2010-10 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: How important is financial development for economic development? A costly state verification model of financial intermediation is presented to address this question. The model is calibrated to match facts about the U.S. economy, such as intermediation spreads and the firm-size distribution for the years 1974 and 2004. It is then used to study the international data, using cross-country interest-rate spreads and per-capita GDP. The analysis suggests that a country like Uganda could increase its output by 140 to 180 percent if it could adopt the world's best practice in the financial sector. Still, this amounts to only 34 to 40 percent of the gap between Uganda's potential and actual output. Charts and tables.
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.
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
Download or read book Handbook of Deep Trade Agreements written by Aaditya Mattoo and published by World Bank Publications. This book was released on 2020-09-23 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: Deep trade agreements (DTAs) cover not just trade but additional policy areas, such as international flows of investment and labor and the protection of intellectual property rights and the environment. Their goal is integration beyond trade or deep integration. These agreements matter for economic development. Their rules influence how countries (and hence, the people and firms that live and operate within them) transact, invest, work, and ultimately, develop. Trade and investment regimes determine the extent of economic integration, competition rules affect economic efficiency, intellectual property rights matter for innovation, and environmental and labor rules contribute to environmental and social outcomes. This Handbook provides the tools and data needed to analyze these new dimensions of integration and to assess the content and consequences of DTAs. The Handbook and the accompanying database are the result of collaboration between experts in different policy areas from academia and other international organizations, including the International Trade Centre (ITC), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and World Trade Organization (WTO).
Download or read book How Much Have Global Problems Cost the World written by Bjørn Lomborg and published by Cambridge University Press. This book was released on 2013-10-10 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are often blanket claims that the world is facing more problems than ever but there is a lack of empirical data to show where things have deteriorated or in fact improved. In this book, some of the world's leading economists discuss ten problems that have blighted human development, ranging from malnutrition, education, and climate change, to trade barriers and armed conflicts. Costs of the problems are quantified in percent of GDP, giving readers a unique opportunity to understand the development of each problem over the past century and the likely development into the middle of this century, and to compare the size of the challenges. For example: how bad was air pollution in 1900? How has it deteriorated and what about the future? Did climate change cost more than malnutrition in 2010? This pioneering initiative to provide answers to many of these questions will undoubtedly spark debate amongst a wide readership.
Download or read book Policies Facilitating Firm Adjustment to Globalization written by Bernard M. Hoekman and published by World Bank Publications. This book was released on 2004 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Hoekman and Javorcik focus on policies facilitating firm adjustment to globalization. They briefly review the effects of trade and investment liberalization on firms, focusing on within-industry effects. They postulate that governments' role in supporting the process is to (1) ensure that firms face "right" incentives to adjust, and (2) intervene in areas where market failures are present. Their main message is that while many policies could be adopted to address market failures, they need to be carefully designed and implemented in a stable macroeconomic environment. An institutional infrastructure that supports the functioning of modern markets is most important. Proactive support policies of whatever stripe should be subject to cost-benefit analysis, based on the existence of an identified market failure, and monitored for performance and cost effectiveness. Transparency and accountability are critical in ensuring that interventions accomplish their intended objectives rather than being vehicles for rent seeking. This paper--a product of the Trade Team, Development Research Group--is part of a larger effort in the group to examine the effects of globalization on developing countries"--World Bank web site.
Download or read book Liberalizing Trade in Services written by Bernard M. Hoekman and published by World Bank Publications. This book was released on 2006 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Since the mid 1980s a substantial amount of research has been undertaken on trade in services. Much of this is inspired by the World Trade Organization or regional trade agreements, especially the European Union, but an increasing number of papers focus on the impacts of services sector liberalization. This paper surveys the literature, focusing on contributions that investigate the determinants of international trade and investment in services, the potential gains from greater trade (and liberalization), and efforts to cooperate to achieve such liberalization through trade agreements. It concludes that there is increasing evidence that services liberalization is an important source of potential welfare gains, but relatively little research has been done that can inform the design of international cooperation-both trade agreements and development assistance-so as to more effectively promote development objectives.
Download or read book Policy Priorities for International Trade and Jobs written by OECD and published by OECD Publishing. This book was released on 2012-05-23 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: Launched and co-ordinated by the OECD, the International Collaborative Initiative on Trade and Employment (ICITE) is a two-year old joint undertaking of ten international organisations. This book brings together some of the results of ICITE's research.
Download or read book Services Trade and Development written by Aaditya Mattoo and published by World Bank Publications. This book was released on 2007-03-21 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some see trade in services as irrelevant to the development agenda for least developed countries (LDCs). Others see few benefits from past market openings by LDCs. This book debunks both views. It finds that serious imperfections in Zambia's reform of services trade deprived the country of significant benefits and diminished faith in liberalization. What is to be done? Move aggressively and consistently to eliminate barriers to entry and competition. Develop and enforce regulations to deal with market failures. And implement proactive policies to widen the access of firms, farms, and consumers to services of all kinds. These lessons from Zambia are applicable to all LDCs. In all this, international agreements can help. But to succeed, LDCs mustcommit to open markets and their trading partners must provide assistance for complementary reforms. Zambia, which leads the LDC group at the World Trade Organization, can show the way.
Download or read book The Works of Francis Bacon written by Francis Bacon and published by World Bank Publications. This book was released on 2011-11-24 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The complete writings of English philosopher Francis Bacon are arranged according to subject matter in this 1857-74 edition.