How Does Trade Openness Influence Budget Deficits In Developing Countries
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How Does Trade Openness Influence Budget Deficits In Developing Countries
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Author : Tahsin Saadi-Sedik
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2006-01-01
How Does Trade Openness Influence Budget Deficits In Developing Countries written by Tahsin Saadi-Sedik and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-01 with Budget categories.
This paper analyzes the effects of trade openness on budget balances by distinguishing the effects of natural openness from those of trade-policy induced openness. Using the GMMsystem estimator, the econometric analysis focuses on 66 developing countries during 1974-98. The results show that trade openness increases a country's exposure to external shocks regardless of its underlying causes. This reinforces the adverse effects of terms of trade instability on budget balances. However, trade openness also influences budget balances through several other channels: corruption, income inequalities, etc. The paper shows that these additional effects of natural openness and trade-policy induced openness on budget balances go in opposite directions: the former deteriorates budget balances whereas the latter improves them.
Twin Deficits In Developing Economies
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Author : Davide Furceri
language : en
Publisher: International Monetary Fund
Release Date : 2018-07-27
Twin Deficits In Developing Economies written by Davide Furceri and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-27 with Business & Economics categories.
This paper provides new evidence on the existence and magnitude of the “twin deficits” in developing economies. It finds that a one percent of GDP unanticipated increase in the government budget balance improves, on average, the current account balance by 0.8 percentage point of GDP. This effect is substantially larger than that obtained using standard measures of fiscal impulse, such as the cyclically-adjusted budget balance. The results point to heterogeneity across countries and over time. The effect tends to be larger: (i) during recessions; in countries (ii) that are more open to trade; (iii) that have less flexible exchange rate regimes; and (iv) with lower initial public debt-to-GDP ratios.
The Impact Of Trade Liberalization On The Trade Balance In Developing Countries
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Author : Yi Wu
language : en
Publisher: International Monetary Fund
Release Date : 2008
The Impact Of Trade Liberalization On The Trade Balance In Developing Countries written by Yi Wu and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.
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).
How Trade Openness Influences Budget Deficits
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Author :
language : en
Publisher:
Release Date : 2002
How Trade Openness Influences Budget Deficits written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Impact Of Trade Openness And External Debt On Economic Growth
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Author : Mahwish Zafar
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2015-10-24
Impact Of Trade Openness And External Debt On Economic Growth written by Mahwish Zafar and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-24 with categories.
Do lesser obstacles to international trade and more external debt encourage an optimistic result on economic growth? This has been a burning topic within the ground of economics for more than a century. The most important purpose of this research is to investigate the impact of trade openness and external debt on wide-reaching economic growth. Panel regression has been used for the analysis purpose.Conclusion of the research indicates a positive relationship between trade openness and economic growth but negative association between foreign debt and economic growth of regions. On the basis of the empirical results acquired, it is strongly recommended to policy makers and economists to provide new horizons for lesser trade barriers. However, we conclude that macroeconomic instabilities, economic factors like inflation, unemployment and government expenditures are the main source of explaining economic growth in the long run.Furthermore external debt is an essential factor for economic growth in the developing countries. Even then it is considered as burden for the economic health of that state.
How Big Small Are Fiscal Multipliers
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Author : Ethan Ilzetzki
language : en
Publisher: International Monetary Fund
Release Date : 2011-03-01
How Big Small Are Fiscal Multipliers written by Ethan Ilzetzki and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03-01 with Business & Economics categories.
We contribute to the intense debate on the real effects of fiscal stimuli by showing that the impact of government expenditure shocks depends crucially on key country characteristics, such as the level of development, exchange rate regime, openness to trade, and public indebtedness. Based on a novel quarterly dataset of government expenditure in 44 countries, we find that (i) the output effect of an increase in government consumption is larger in industrial than in developing countries, (ii) the fisscal multiplier is relatively large in economies operating under predetermined exchange rate but zero in economies operating under flexible exchange rates; (iii) fiscal multipliers in open economies are lower than in closed economies and (iv) fiscal multipliers in high-debt countries are also zero.
Public Debt And Growth
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Author : Jaejoon Woo
language : en
Publisher: International Monetary Fund
Release Date : 2010-07-01
Public Debt And Growth written by Jaejoon Woo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-01 with Business & Economics categories.
This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality and endogeneity. In addition, threshold effects, nonlinearities, and differences between advanced and emerging market economies are examined. The empirical results suggest an inverse relationship between initial debt and subsequent growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the initial debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.2 percentage points per year, with the impact being somewhat smaller in advanced economies. There is some evidence of nonlinearity with higher levels of initial debt having a proportionately larger negative effect on subsequent growth. Analysis of the components of growth suggests that the adverse effect largely reflects a slowdown in labor productivity growth mainly due to reduced investment and slower growth of capital stock.
Handbook Of Research On The Empirical Aspects Of Strategic Trade Negotiations And Management
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Author : Crespo, Nuno
language : en
Publisher: IGI Global
Release Date : 2021-06-18
Handbook Of Research On The Empirical Aspects Of Strategic Trade Negotiations And Management written by Crespo, Nuno and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-18 with Business & Economics categories.
International trade is a key dimension of the world economy, it is a critical factor in raising living standards, increasing employment, and providing a larger variety of goods to consumers around the world. Despite the strong focus that international trade research has received in theoretical terms, the empirical aspects of trade are less clear and justify further research. In this context, it is essential for studies to focus on shedding light on the most important methods used to evaluate the multiple dimensions of trade within this international context. Trade has a myriad of direct and indirect effects, therefore touching several fields of research, including economics, management, finance, international relations, political science, and sociology, which makes it essential to explore. The Handbook of Research on the Empirical Aspects of Strategic Trade Negotiations and Management provides a systematic overview of the latest trends in the empirical analysis of trade from international perspectives. It provides a survey on the methods used to evaluate a specific topic in international trade, enhance knowledge about the multiple facets of international trade around the world, and grant in-depth surveys of previous empirical findings on specific topics in international trade. Important topics covered within this book include trade diversification, regional centrality, ethical pricing, globalization, cultural impacts, and open economies. This book is a valuable reference tool for government officials, policy makers, managers, executives, economists, practitioners, stakeholders, researchers, academicians, and students.
Trade Liberalization
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Author : Romain Wacziarg
language : en
Publisher: Edward Elgar Publishing
Release Date : 2018
Trade Liberalization written by Romain Wacziarg and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Free trade categories.
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.
Trade Liberalisation And Poverty
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Author : Minh Son Le
language : en
Publisher: Routledge
Release Date : 2015-08-11
Trade Liberalisation And Poverty written by Minh Son Le and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-08-11 with Business & Economics categories.
This book uses Alan Winters’ analytical framework to investigate the effects of trade liberalisation on economic growth and poverty in Vietnam. The country launched a programme of economic and trade reforms, known as Doi Moi, in the mid-1980s which placed the economy on a transitional path from central planning to a market economy. Since then Vietnam has attained a number of remarkable achievements in terms of economic growth and poverty reduction. Although some formidable problems (such as inequality and inflation) remain, it is apparent that trade liberalisation has been associated with a big reduction in poverty. The analysis in the book focuses on the microeconomic (household) level, and there is an emphasis on tracing the effects of trade liberalisation through the four separate channels identified by Winters. Such in-depth and micro-level analyses yield new insights that support important policy lessons and recommendations for Vietnam in particular and, more generally, for similar developing countries.