Download or read book Specialization and Trade written by Arnold Kling and published by Cato Institute. This book was released on 2016-06-14 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the end of the second World War, economics professors and classroom textbooks have been telling us that the economy is one big machine that can be effectively regulated by economic experts and tuned by government agencies like the Federal Reserve Board. It turns out they were wrong. Their equations do not hold up. Their policies have not produced the promised results. Their interpretations of economic events -- as reported by the media -- are often of-the-mark, and unconvincing. A key alternative to the one big machine mindset is to recognize how the economy is instead an evolutionary system, with constantly-changing patterns of specialization and trade. This book introduces you to this powerful approach for understanding economic performance. By putting specialization at the center of economic analysis, Arnold Kling provides you with new ways to think about issues like sustainability, financial instability, job creation, and inflation. In short, he removes stiff, narrow perspectives and instead provides a full, multi-dimensional perspective on a continually evolving system.

Download or read book Services In Global Value Chains Manufacturing related Services written by Patrick Low and published by World Scientific. This book was released on 2016-06-21 with total page 784 pages. Available in PDF, EPUB and Kindle. Book excerpt: This compilation of 22 firm-specific case studies is an important contribution to the discussion of 'servicification' trends in manufacturing. 'Services have increased in importance and value in many manufacturing value chains, making companies that produce physical products look more like service enterprises. What services do global value chains use in their operations, how important are they and how do economic policies shape firms' configurations, operations, and location of global value chains? This book addresses these questions and more.The interviewed firms, based in 12 APEC economies, come from different sectors ranging from multinational automotive, construction equipment, and electrical appliance manufacturers to small and medium manufacturers of watches or chemical for water treatment. The book analyses what specific services are important in different stages of the value chain, and whether they are typically provided in-house or outsourced.

Download or read book Changing Patterns of Global Trade written by Nagwa Riad and published by International Monetary Fund. This book was released on 2012-01-15 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.

Download or read book Trade Patterns and Global Value Chains in East Asia written by World Trade Organization and published by . This book was released on 2011 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book International Trade written by Nigel Grimwade and published by Routledge. This book was released on 2003-09-02 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 1967. Routledge is an imprint of Taylor & Francis, an informa company.

Download or read book Achieving Inclusive Growth in China Through Vertical Specialization written by Wei Wang and published by Chandos Publishing. This book was released on 2016-03-17 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: Vertical Specialization and Inclusive Growth in China discusses the two interrelated developments that have transformed the Chinese economy in recent years. First, the global community has increased calls to foster inclusive economic growth, with China embracing this trend. Second, the explosive growth in China's trade resulting from international vertical specialization production and trade networks which has complicated the notion of inclusive growth in the Chinese context. This book assesses these two trends quantitatively, giving evidence of the link between vertical specialization and inclusive growth, and then decomposing the inclusive growth effects of vertically specialized trade into six components: GDP growth, export growth, FDI, environment, employment, and innovation. It further explores the differing impact of conventional trade and processing trade on inclusive growth, providing direction for future policy. This second book by the author to consider vertical specialization stresses the importance of integration in driving inclusive growth. - Argues that inclusive growth and vertical specialization analyses must be performed together - Gives quantitative evidence for the link between vertical specialization and inclusive growth in China - Investigates the different impact of conventional trade and processing trade on transition to inclusive growth in China, using comparative analysis techniques - Offers insight on forming future policy in China to increase inclusive growth

Download or read book Rethinking International Trade written by Paul Krugman and published by MIT Press. This book was released on 1994-03-29 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decade, a small group of economists has challenged traditional wisdom about international trade. Rethinking International Trade provides a coherent account of this research program and traces the key steps in an exciting new trade theory that offers, among other possibilities, new arguments against free trade. Over the past decade a small group of economists has challenged traditional wisdom about international trade. Rethinking International Trade provides a coherent account of this research program and traces the key steps in an exciting new trade theory that offers, among other possibilities, new arguments against free trade. Krugman's introduction is a valuable guide to research that has delved anew into the causes of international trade and reopened basic questions about the international pattern of specialization, the effects of protectionism, and what constitutes an optimal trade policy. In the four sections that follow, he takes a revisionary look at the causes of international trade, and discusses growth and the role of history, technological change and trade, and strategic trade policy.

Download or read book Understanding Global Trade written by Elhanan Helpman and published by Harvard University Press. This book was released on 2011-04-25 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global trade is of vital interest to citizens as well as policymakers, yet it is widely misunderstood. This compact exposition of the market forces underlying international commerce addresses both of these concerned groups, as well as the needs of students and scholars. Although it contains no equations, it is almost mathematical in its elegance, precision, and power of expression. Understanding Global Trade provides a thorough explanation of what shapes the international organization of production and distribution and the resulting trade flows. It reviews the evolution of knowledge in this field from Adam Smith to today as a process of theoretical modeling, accumulation of new empirical data, and then revision of analytical frameworks in response to evidence and changing circumstances. It explains the sources of comparative advantage and how they lead countries to specialize in making products which they then sell to other countries. While foreign trade contributes to the overall welfare of a nation, it also creates winners and losers, and Helpman describes mechanisms through which trade affects a country's income distribution. The book provides a clear and original account of the revolutions in trade theory of the 1980s and the most recent decade. It shows how scholars shifted the analysis of trade flows from the sectoral level to the business-firm level, to elucidate the growing roles of multinational corporations, offshoring, and outsourcing in the international division of labor. Helpman’s explanation of the latest research findings is essential for an understanding of world affairs.

Download or read book Trade Specialisation Patterns written by Bernadina Algieri and published by . This book was released on 2004 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä.

Download or read book Global Production written by Pol Antràs and published by Princeton University Press. This book was released on 2020-10-13 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Production is the first book to provide a fully comprehensive overview of the complicated issues facing multinational companies and their global sourcing strategies. Few international trade transactions today are based on the exchange of finished goods; rather, the majority of transactions are dominated by sales of individual components and intermediary services. Many firms organize global production around offshoring parts, components, and services to producers in distant countries, and contracts are drawn up specific to the parties and distinct legal systems involved. Pol Antràs examines the contractual frictions that arise in the international system of production and how these frictions influence the world economy. Antràs discusses the inevitable complications that develop in contract negotiation and execution. He provides a unified framework that sheds light on the factors helping global firms determine production locations and other organizational choices. Antràs also implements a series of systematic empirical tests, based on recent data from the U.S. Customs and Census Offices, which demonstrate the relevance of contractual factors in global production decisions. Using an integrated approach, Global Production is an excellent resource for researchers, graduate students, and advanced undergraduates interested in the inner workings of international economics and trade.

Download or read book The Great Convergence written by Richard Baldwin and published by Harvard University Press. This book was released on 2016-11-14 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Economist Best Book of the Year A Financial Times Best Economics Book of the Year A Fast Company “7 Books Microsoft CEO Satya Nadella Says You Need to Lead Smarter” Between 1820 and 1990, the share of world income going to today’s wealthy nations soared from twenty percent to almost seventy. Since then, that share has plummeted to where it was in 1900. As the renowned economist Richard Baldwin reveals, this reversal of fortune reflects a new age of globalization that is drastically different from the old. The nature of globalization has changed, but our thinking about it has not. Baldwin argues that the New Globalization is driven by knowledge crossing borders, not just goods. That is why its impact is more sudden, more individual, more unpredictable, and more uncontrollable than before—which presents developed nations with unprecedented challenges as they struggle to maintain reliable growth and social cohesion. It is the driving force behind what Baldwin calls “The Great Convergence,” as Asian economies catch up with the West. “In this brilliant book, Baldwin has succeeded in saying something both new and true about globalization.” —Martin Wolf, Financial Times “A very powerful description of the newest phase of globalization.” —Larry Summers, former U.S. Secretary of the Treasury “An essential book for understanding how modern trade works via global supply chains. An antidote to the protectionist nonsense being peddled by some politicians today.” —The Economist “[An] indispensable guide to understanding how globalization has got us here and where it is likely to take us next.” —Alan Beattie, Financial Times

Download or read book Handbook of Computable General Equilibrium Modeling written by Peter B. Dixon and published by Newnes. This book was released on 2013-11-14 with total page 1143 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. - Presents coherent summaries of CGE theories that inform major model types - Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results - Shows how CGE modeling has made a contribution to economic policy

Download or read book China s Growing Role in World Trade written by Robert C. Feenstra and published by University of Chicago Press. This book was released on 2010-03-10 with total page 603 pages. Available in PDF, EPUB and Kindle. Book excerpt: In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms. Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.

Download or read book OECD Insights International Trade Free Fair and Open written by Love Patrick and published by OECD Publishing. This book was released on 2009-05-19 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that prosperity has rarely, if ever, been achieved or sustained without trade. Trade alone, however, is not enough; policies targeting employment, education, health and other issues are also needed to promote well-being and tackle the challenges of a globalised economy.

Download or read book The Collapse of Global Trade Murky Protectionism and the Crisis written by Richard E. Baldwin and published by . This book was released on 2011-03 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.

Download or read book International Economic Integration and Domestic Performance written by Mary E Lovely and published by World Scientific Publishing Company. This book was released on 2017-02-27 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Economic Integration and Domestic Performance brings together the essays of Mary E Lovely focused on the relationship between international economic integration and domestic performance. It is a collection of sole-authored and co-authored papers that have been published in various scholarly journals over the last two decades. The first section considers the welfare effects and optimal design of retail sales taxes when consumers can avoid taxation by crossing jurisdictional boundaries. The second section highlights the role of scale economies in the design of industrial policies and as a determinant of firm location. The third section explores the influence of environmental policy on foreign investor's location decisions and the role of trade and technology on country's environmental regulation. The final section considers the determinants of wage differences, the attraction of low wages for foreign investors, and misallocations of labor in an emerging economy — China. The collection, taken as a whole, highlights the power of international factor mobility to determine domestic tax burdens, to influence welfare implications of domestic policy alternatives, and to influence the location of productive factors and their rewards.

Download or read book China s Changing Trade and the Implications for the CLMV written by Mr.Koshy Mathai and published by International Monetary Fund. This book was released on 2016-09-01 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s trade patterns are evolving. While it started in light manufacturing and the assembly of more sophisticated products as part of global supply chains, China is now moving up the value chain, “onshoring” the production of higher-value-added upstream products and moving into more sophisticated downstream products as well. At the same time, with its wages rising, it has started to exit some lower-end, more labor-intensive sectors. These changes are taking place in the broader context of China’s rebalancing—away from exports and toward domestic demand, and within the latter, away from investment and toward consumption—and as a consequence, demand for some commodity imports is slowing, while consumption imports are slowly rising. The evolution of Chinese trade, investment, and consumption patterns offers opportunities and challenges to low-wage, low-income countries, including China’s neighbors in the Mekong region. Cambodia, Lao P.D.R., Myanmar, and Vietnam (the CLMV) are all open economies that are highly integrated with China. Rebalancing in China may mean less of a role for commodity exports from the region, but at the same time, the CLMV’s low labor costs suggest that manufacturing assembly for export could take off as China becomes less competitive, and as China itself demands more consumption items. Labor costs, however, are only part of the story. The CLMV will need to strengthen their infrastructure, education, governance, and trade regimes, and also run sound macro policies in order to capitalize fully on the opportunities presented by China’s transformation. With such policy efforts, the CLMV could see their trade and integration with global supply chains grow dramatically in the coming years.