Download or read book The Impact of Trade Liberalization on the Trade Balance in Developing Countries written by Yi Wu and published by International Monetary Fund. This book was released on 2008 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using two recently constructed measures of trade liberalization dates, this research studies the impact of trade liberalization on imports, exports, and overall trade balance for a large sample of developing countries. We find strong and consistent evidence that trade liberalization leads to higher imports and exports. However, in contrast Santos-Paulino and Thirwall (2004) who find a robustly negative impact of trade liberalization on the overall trade balance, we only find mixed evidence of such a negative impact. In particular, we find little evidence of a statistically significant negative impact using our first measure of liberalization dates which extends Li (2004). Using a second measure of liberalization dates compiled by Wacziarg and Welch (2003), we find some evidence that liberalization worsens the trade balance, but the evidence is not robust across different estimation specifications, and the estimated impact is smaller than that reported by Santos-Paulino and Thirwall (2004).
Download or read book Trade Liberalisation Impact On Growth And Trade In Developing Countries written by Ashok Parikh and published by World Scientific Publishing Company. This book was released on 2007-06-04 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is one of few books on the quantitative assessment of trade liberalisation and its impact on micro and macro economics structure in developing countries. Addressing the prospects of economic growth at a macro level, gives a thorough analysis of various issues such as profitability of enterprises after liberalisation, structural change, imports and exports by sectors and regions, and the trade balances of developing countries. The aspects of terms of trade and the trade balances in African, Latin American and Asian economies are studied using econometric techniques.
Download or read book Impact of Liberalization Economic Growth and Trade Policies on Current Accounts of Developing Countries written by Ashok Parikh and published by . This book was released on 2002 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trade Liberalisation written by Ashok K. Parikh and published by World Scientific. This book was released on 2007 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is one of few books on the quantitative assessment of trade liberalisation and its impact on micro and macro economics structure in developing countries. Addressing the prospects of economic growth at a macro level, gives a thorough analysis of various issues such as profitability of enterprises after liberalisation, structural change, imports and exports by sectors and regions, and the trade balances of developing countries. The aspects of terms of trade and the trade balances in African, Latin American and Asian economies are studied using econometric techniques.
Download or read book The Impact of Trade Liberalization on Developing and OIC Countries Merchandise Trade Balance Imports and Exports with Industrial and Developing Countries written by Gairuzazmi Mat Ghani and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
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,
Download or read book Relationship Between Trade Liberalization Economic Growth and Trade Balance written by Ashok Parikh and published by . This book was released on 2004 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trade Liberalization and the Balance of Payments in Selected Developing Countries written by Amelia U. Santos-Paulino and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis is made of the impact of the reduction of tariff and non-tariff barriers on the trade balance and the current account of the balance of payments of 22 developing countries from Africa, Latin America, East Asia and South Asia that have undertaken important trade reforms since the mid-1970s. The study applies dynamic panel data and time series/cross-section analysis. The main findings are that liberalization has worsened the balance of trade and the balance of payments, because imports have increased more rapidly than exports. The adverse effect on the trade balance has been nearly 2 per cent of GDP. The impact of liberalization and other variables varies according to the region and type of trade policy regime existing.
Download or read book Growth Before and After Trade Liberalization written by Gonzalo Salinas and published by World Bank Publications. This book was released on 2006 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The empirical study of the impact of trade liberalization has not convinced the skeptics about the economic gains after trade reforms. Some have even argued that trade reforms have led to economic collapse and to deindustrialization. Using a sample that excludes countries that were subject to major exogenous disruptions, the authors note that post-reform economic growth was 1.2 percentage points higher than before the reforms. This is remarkable considering that pre-reform periods were characterized by highly expansionary state policies and large external borrowing, and the crisis years that preceded trade liberalization in the comparisons are eliminated. Through multivariate fixed effects estimations the authors calculate that annual per capita GDP growth rates increased by up to 2.6 percentage points after the trade reforms, compared to a counterfactual that takes into consideration the evolution of several growth determinants. Moreover, trade liberalization has been followed by an acceleration of growth in investment, exports of goods and services, and manufacturing exports, and as opposed to common belief, outward orientation did not lead to significant deindustrialization and actually seems to have increased export diversification. Growth acceleration occurred irrespective of income per capita level and was quite significant in Sub-Saharan Africa. As expected, small countries benefited most from the reforms.
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 Trade Liberalization in Developing Countries written by Jonathan David Ostry and published by . This book was released on 1990 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Evaluating the Effects of Trade Liberalization written by Robert E.. Baldwin and published by . This book was released on 1979 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Managing Openness written by Mona Haddad and published by World Bank Publications. This book was released on 2011 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis triggered a broad reassessment of economic integration policies in developed and developing countries worldwide. The crisis-induced collapse in trade was the sharpest ever since World War II, affecting all countries and all product categories. A huge shock to the trading system, combined with severe macroeconomic instability, makes it natural for policymakers to call into question the basic underlying assumptions of trade liberalization and openness. In particular, outward-oriented or export-led growth strategies are being reassessed as openness is increasingly associated with greater volatility. However, it is crucial not to lose sight of the dynamic benefits that openness can offer. Examples include technology transfer, increased competitive pressure that reduces markups and improves efficiency, and economies of scale. The real question is how to manage outward-oriented strategies so as to maximize the benefits of openness while minimizing risks. This book aims to contribute to this important and ongoing policy debate, bringing together recent empirical work on the trade collapse, its causes and consequences, and the broader trade policy agenda in the post-crisis environment. It addresses critical policy issues revolving around the topic of outward-oriented growth strategy, including policy instruments that help manage risks associated with outward-orientation, lessons learned from the crisis for particular countries and regions, and how emerging trade policy issues such as climate change, commodities, global production networking, and migration affect the prospects for recovery and outward-oriented growth.
Download or read book Trade Liberalization in the Western Hemisphere written by and published by . This book was released on 1995 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trade Reforn Efficiency and Growth written by and published by World Bank Publications. This book was released on with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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
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.
