Download or read book Making Trade an Engine of Growth for All written by International Monetary Fund and published by International Monetary Fund. This book was released on 2017-10-04 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of trade in the global economy is at a critical juncture. Increased trade integration helped to drive economic growth in advanced and developing economies in the latter part of the 20th century. Since the early 2000’s, however, a slowdown in the pace of trade reform, a post-crisis uptick in protectionism, and risk of further reversals have been a drag on trade, productivity, and income growth. At the same time, trade is leaving too many individuals and communities behind, notably also in advanced economies. To be sure, job losses in certain sectors or regions in advanced economies have resulted to a large extent from technological changes rather than from trade. But adjustment to trade can bring a human and economic downside that is frequently concentrated, sometimes harsh, and has too often become prolonged. It need not be that way. With the right policies, countries can benefit from the great opportunities that trade brings and lift up those who have been left behind. Those polices ease adjustment to trade, as well as strengthen overall economic flexibility and performance.
Download or read book Making Trade an Engine of Growth for All written by Internationaler Währungsfonds and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Longstanding tension between the benefits of open commerce and public support for it has become particularly salient today. G20 leaders pledged to work harder to build an open world economy and to promote greater inclusiveness. They called for action to communicate better the benefits of open markets to the wider public and for domestic policies to distribute those benefits more widely. G20 leaders saw the issue not as a tradeoff between openness and inclusiveness, but as a challenge to achieve more of both. Improved domestic policies and further trade reform can stimulate growth that is more inclusive. Addressing the source of discontent is important in its own right and also critical to shoring up support for trade. This paper draws on a wide range of recent policy analysis. Existing studies from international organizations provide greater depth in a number of areas that goes beyond what is possible in the present paper. Throughout the paper, references to key pieces of research and policy analysis from academics, think tanks, and international organizations help to document the statements made and provide options for readers who wish to delve into certain topics. Lessons are also drawn from country experience.
Download or read book Making Trade an Engine of Growth for All written by Jim Yong Kim and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Jim Yong Kim, President of the World Bank Group, addressed the topic of trade as an engine of growth. Advanced markets are experiencing low growth and in emerging markets, growth rates have fallen by almost 1 percentage point since 2013. This is not just about numbers, these economic developments are limiting opportunities for billions of people around the world, and making it harder to achieve the goal of ending extreme poverty by 2030. One of the drivers of this low growth pattern is the decrease in trade growth. Global trade has slowed from an average yearly growth of 7 percent before the financial crisis to less than 3 percent today. Projections for 2016 indicate an even further slowdown. All this comes at a time when we need more cooperation, greater economic integration and stronger partnerships than ever before for the world economy to continue to grow in a sustainable way. We must respond with a push for lower trade costs, support for multilateral trade negotiations, resist protectionism, and support trade policy reform and greater global trade integration.
Download or read book World Development Report 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-19 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
Download or read book Finance Development September 2014 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2014-08-25 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.
Download or read book China written by Ross Garnaut and published by ANU E Press. This book was released on 2012-12-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty-five years of reform have transformed China from a centrally planned and closed system to a predominantly market-driven and open economy. As a consequence, China is emerging as the new powerhouse for the world economy. China: new engine for world growth discusses the impact and significance of this transformation. It points out risks to the growth process and unfinished tasks of reform. It presents conclusions from recent research on growth, trade and investment, the financial sector, income and regional disparities, industrial location and private sector development.
Download or read book No Ordinary Disruption written by Richard Dobbs and published by PublicAffairs. This book was released on 2016-08-30 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our intuition on how the world works could well be wrong. We are surprised when new competitors burst on the scene, or businesses protected by large and deep moats find their defenses easily breached, or vast new markets are conjured from nothing. Trend lines resemble saw-tooth mountain ridges. The world not only feels different. The data tell us it is different. Based on years of research by the directors of the McKinsey Global Institute, No Ordinary Disruption: The Four Forces Breaking all the Trends is a timely and important analysis of how we need to reset our intuition as a result of four forces colliding and transforming the global economy: the rise of emerging markets, the accelerating impact of technology on the natural forces of market competition, an aging world population, and accelerating flows of trade, capital and people. Our intuitions formed during a uniquely benign period for the world economy -- often termed the Great Moderation. Asset prices were rising, cost of capital was falling, labour and resources were abundant, and generation after generation was growing up more prosperous than their parents. But the Great Moderation has gone. The cost of capital may rise. The price of everything from grain to steel may become more volatile. The world's labor force could shrink. Individuals, particularly those with low job skills, are at risk of growing up poorer than their parents. What sets No Ordinary Disruption apart is depth of analysis combined with lively writing informed by surprising, memorable insights that enable us to quickly grasp the disruptive forces at work. For evidence of the shift to emerging markets, consider the startling fact that, by 2025, a single regional city in China -- Tianjin -- will have a GDP equal to that of the Sweden, of that, in the decades ahead, half of the world's economic growth will come from 440 cities including Kumasi in Ghana or Santa Carina in Brazil that most executives today would be hard-pressed to locate on a map. What we are now seeing is no ordinary disruption but the new facts of business life -- facts that require executives and leaders at all levels to reset their operating assumptions and management intuition.
Download or read book The Growth Report written by Commission on Growth and Development and published by World Bank Publications. This book was released on 2008-07-23 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Women and Trade written by World Bank;World Trade Organization and published by World Bank Publications. This book was released on 2020-09-04 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade can dramatically improve women’s lives, creating new jobs, enhancing consumer choices, and increasing women’s bargaining power in society. It can also lead to job losses and a concentration of work in low-skilled employment. Given the complexity and specificity of the relationship between trade and gender, it is essential to assess the potential impact of trade policy on both women and men and to develop appropriate, evidence-based policies to ensure that trade helps to enhance opportunities for all. Research on gender equality and trade has been constrained by limited data and a lack of understanding of the connections among the economic roles that women play as workers, consumers, and decision makers. Building on new analyses and new sex-disaggregated data, Women and Trade: The Role of Trade in Promoting Gender Equality aims to advance the understanding of the relationship between trade and gender equality and to identify a series of opportunities through which trade can improve the lives of women.
Download or read book The Role of Trade in Ending Poverty written by and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Role of Trade in Ending Poverty looks at the complex relationships between economic growth, poverty reduction and trade, and examines the challenges that poor people face in benefiting from trade opportunities. Written jointly by the World Bank Group and the WTO, the publication examines how trade could make a greater contribution to ending poverty by increasing efforts to lower trade costs, improve the enabling environment, implement trade policy in conjunction with other areas of policy, better manage risks faced by the poor, and improve data used for policy-making.
Download or read book Trade Costs and Inclusive Growth written by Robert R. Teh and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade costs and inclusive growth looks at how implementation of the WTO's Trade Facilitation Agreement (TFA) can help to reduce trade costs and promote growth. The publication rings together contributions from ten participants in the WTO Chairs Programme, which supports trade-related activities by academic institutions in developing countries. The book looks into how the Aid for Trade initiative can assist with implementing the TFA, the importance of mainstreaming trade into national development strategies, and the potential impact of the TFA in various regions.
Download or read book The Global Trade Slowdown and Its Implications for Emerging Asia written by Board of Governors of the Federal Reserv and published by Createspace Independent Publishing Platform. This book was released on 2016-11-18 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy is at a critical juncture today. According to the International Monetary Fund's latest World Economic Outlook, global gross domestic product (GDP) is set to grow at only 3.1 percent this year, the lowest rate of growth since the Global Financial Crisis. Investment and productivity remain subdued, despite extremely low and even negative interest rates in many economies. One key aspect of global weakness that is of particular relevance to emerging Asian economies is the sharp slowdown in global trade. This slowdown represents a notable departure from the "normal" times of the past few decades, and is the subject of my remarks today.
Download or read book Win win written by Matthias Helble and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Sustainable Development Goals (SDGs), adopted in 2015, are expected to chart a course for development over the next 15 years. The 17 SDGs cover poverty, health, sustainable development, and the environment, among others, but not trade. This book shows that international trade can contribute to achieving all SDGs. It maps out a triple-win scenario where good trade policy (i) spurs international trade, (ii) contributes to development, and (iii) helps achieve the SDGs.
Download or read book Review of the Role of Trade in the Work of the Fund written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2023-04-03 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper outlines key changes in the global trade landscape in recent years, reviews the role of the Fund in this area, and outlines a trade strategy for the Fund going forward. The analysis points to three key messages. First, while trade has been resilient vis-à-vis recent global shocks, the deteriorating trade policy environment poses risks to the current levels of prosperity. Second, the Fund has responded quickly to key trade developments in its multilateral surveillance, but attention to trade policy has declined pointing to the need of improved expertise. Third, a reinvigorated trade strategy for the Fund would help country authorities to address key challenges, including adjusting to structural changes associated with climate change and new technologies; promoting policy coherence between trade and non-trade objectives such as climate, inequality, and security; and managing rising geopolitical tensions and risks of geo-economic fragmentation.
Download or read book The Economics of Belonging written by Martin Sandbu and published by Princeton University Press. This book was released on 2022-05-17 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: A radical new approach to economic policy that addresses the symptoms and causes of inequality in Western society today Fueled by populism and the frustrations of the disenfranchised, the past few years have witnessed the widespread rejection of the economic and political order that Western countries built up after 1945. Political debates have turned into violent clashes between those who want to “take their country back” and those viewed as defending an elitist, broken, and unpatriotic social contract. There seems to be an increasing polarization of values. The Economics of Belonging argues that we should step back and take a fresh look at the root causes of our current challenges. In this original, engaging book, Martin Sandbu argues that economics remains at the heart of our widening inequality and it is only by focusing on the right policies that we can address it. He proposes a detailed, radical plan for creating a just economy where everyone can belong. Sandbu demonstrates that the rising numbers of the left behind are not due to globalization gone too far. Rather, technological change and flawed but avoidable domestic policies have eroded the foundations of an economy in which everyone can participate—and would have done so even with a much less globalized economy. Sandbu contends that we have to double down on economic openness while pursuing dramatic reforms involving productivity, regional development, support for small- and medium-sized businesses, and increased worker representation. He discusses how a more active macroeconomic policy, education for all, universal basic income, and better taxation of capital could work together for society’s benefit. Offering real answers, not invective, for facing our most serious political issues, The Economics of Belonging shows how a better economic system can work for all.
Download or read book The Oxford Handbook of Industrial Policy written by Arkebe Oqubay and published by Oxford University Press. This book was released on 2020-10-20 with total page 912 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial policy has long been regarded as a strategy to encourage sector-, industry-, or economy-wide development by the state. It has been central to competitiveness, catching up, and structural change in both advanced and developing countries. It has also been one of the most contested perspectives, reflecting ideologically inflected debates and shifts in prevailing ideas. There has lately been a renewed interest in industrial policy in academic circles and international policy dialogues, prompted by the weak outcomes of policies pursued by many developing countries under the direction of the Washington Consensus (and its descendants), the slow economic recovery of many advanced economies after the 2008 global financial crisis, and mounting anxieties about the national consequences of globalization. The Oxford Handbook of Industrial Policy presents a comprehensive review of and a novel approach to the conceptual and theoretical foundations of industrial policy. The Handbook also presents analytical perspectives on how industrial policy connects to broader issues of development strategy, macro-economic policies, infrastructure development, human capital, and political economy. By combining historical and theoretical perspectives, and integrating conceptual issues with empirical evidence drawn from advanced, emerging, and developing countries, The Handbook offers valuable lessons and policy insights to policymakers, practitioners and researchers on developing productive transformation, technological capabilities, and international competitiveness. It addresses pressing issues including climate change, the gendered dimensions of industrial policy, global governance, and technical change. Written by leading international thinkers on the subject, the volume pulls together different perspectives and schools of thought from neo-classical to structuralist development economists to discuss and highlight the adaptation of industrial policy in an ever-changing socio-economic and political landscape.
Download or read book Reinvigorating Trade and Inclusive Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2018-09-30 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Trade integration can play a much larger role in boosting shared prosperity. The current focus on trade tensions threatens to obscure the great untapped benefits possible from further trade reform. The opportunities provided by information technology and other fundamental changes in the global economy are yet to be reflected in modern areas of trade policy, such as services and electronic commerce. Greater openness in these areas would promote competition, lift productivity, and raise living standards. In many other areas, such as the rural economy, smaller enterprises, and women’s economic empowerment, trade-related reforms are important particularly to foster more inclusive growth. Harnessing flexible approaches to WTO negotiations may be the key to reinvigorating global trade reform. Despite the benefits at stake—and with important exceptions such as the WTO Trade Facilitation Agreement—trade reform has lagged since the early 2000s. For much of this period, governments focused their efforts in the WTO on a single negotiating approach. Now, as groups of WTO members pursue joint initiatives in several areas, attention is turning to how other negotiating approaches—including some used effectively in the past—can be leveraged so that trade once again plays its full role in driving increased global economic prosperity. Building greater, more durable openness—this paper’s focus—should be part of a broader effort to strengthen and reinvest in the global trading system. The system of global trade rules that has nurtured unprecedented economic growth across multiple generations faces tensions. Though only recently brought to the fore, those tensions are rooted in issues that have been left unresolved for too long. Governments need to promptly address outstanding questions involving, for example, the WTO dispute system and the reach of subsidy disciplines. Cooperative action to secure greater openness—an imperative in its own right—could also help to resolve these"
