Trade Liberalization And Endogenous Growth In A Small Open Economy

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Trade Liberalization And Endogenous Growth In A Small Open Economy

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Author : Thomas Fox Rutherford
language : en
Publisher: World Bank Publications
Release Date : 1998

Trade Liberalization And Endogenous Growth In A Small Open Economy written by Thomas Fox Rutherford and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Developing countries categories.

Capital Accumulation And Economic Growth In A Small Open Economy

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Author : Stephen J. Turnovsky
language : en
Publisher: Cambridge University Press
Release Date : 2009-08-20

Capital Accumulation And Economic Growth In A Small Open Economy written by Stephen J. Turnovsky and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-08-20 with Business & Economics categories.

An investigation of the process of economic growth in a small open economy by one of the world's leading economists.

Trade Liberalization And Endogenous Growth In A Small Open Economy

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Author : Thomas F. Rutherford
language : en
Publisher:
Release Date : 2004

Trade Liberalization And Endogenous Growth In A Small Open Economy written by Thomas F. Rutherford and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.

Although trade liberalization has been linked econometrically and through casual empiricism to large income increases, attempts to quantify its impact in static simulation models have shown estimated gains. This paper shows that when the endogenous dynamic effects of trade liberalization are built into simulation models, the estimated gains are indeed very large. But complementary regulatory, financial market, and macroeconomic reforms are important to realize the largest gains. Rutherford and Tarr develop a numerical endogenous growth model approximating an infinite horizon, which allows them to investigate the relationship between trade liberalization and economic growth. Economic theory generally implies that trade liberalization will improve economic growth, and the two phenomena are positively correlated in empirical tests, but the connection is not well-substantiated in numerical general equilibrium models. In the authors' model, an intermediate input affects aggregate output through a Dixit-Stiglitz function. Additional varieties provide the engine of growth in this framework and the existence of this mechanism magnifies the welfare costs. In this model with lump sum revenue replacement, reducing a tariff from 20 percent to 10 percent produces a welfare increase (in terms of Hicksian equivalent variation over the infinite horizon) of 10.7 percent of the present value of consumption in their central model, where the economy is assumed to be unable to borrow on international financial markets. If macroeconomic and financial reforms are in place that would allow international borrowing, however, the same tariff cut is estimated to result in a 37 percent increase in Hicksian equivalent variation. On the other hand, if inefficient replacement taxes must be used in an economy without the capacity to borrow internationally, the gains would be reduced to 4.7 percent. Larger tariff cuts-typical of those in many developing countries over the past 30 years-produce larger estimated welfare gains at least proportionate to the size of the cut. The authors apply the model to five developing countries and estimate the impact of the tariff changes those countries plan to undertake as part of Uruguay Round commitments. Because of the dynamic effects, estimated gains are considerably larger than those found in the literature on the impact of the Uruguay Round. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to assess the impact of trade and investment on economic growth. The study was funded by the Bank's Research Support Budget under the research project The Dynamic Impact of Trade Liberalization in Developing Countries (RPO 681-40).

The World Bank Research Program 2001

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Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2001-01-01

The World Bank Research Program 2001 written by World Bank and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-01-01 with Political Science categories.

This publication is a compilation of reports on research projects initiated, under way, or completed in fiscal year 2001 (July 1, 2000 through June 30, 2001). The abstracts cover 150 research projects from the World Bank and grouped under 11 major headings including poverty and social development, health and population, education, labor and employment, environment, infrastructure and urban development, and agriculture and rural development. The abstracts detail the questions addressed, the analytical methods used, the findings to date and their policy implications. Each abstract identifies the expected completion date of each project, the research team, and reports or publications produced.

The Dynamic Effects Of Trade Liberalization

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Author : Joseph F. Francois
language : en
Publisher:
Release Date : 1993

The Dynamic Effects Of Trade Liberalization written by Joseph F. Francois and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Free trade categories.

Handbook Of Computable General Equilibrium Modeling

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Author : Peter B. Dixon
language : en
Publisher: Newnes
Release Date : 2013-11-14

Handbook Of Computable General Equilibrium Modeling written by Peter B. Dixon and has been published by Newnes this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-14 with Business & Economics categories.

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

Joint Trade Liberalization And Tax Reform In A Small Open Economy

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Author : Denise Konan
language : en
Publisher:
Release Date : 1997

Joint Trade Liberalization And Tax Reform In A Small Open Economy written by Denise Konan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Egypt categories.

The Impact Of Liberalizing Barriers To Foreign Direct Investment In Services

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Author : Jesper Jensen
language : en
Publisher: World Bank Publications
Release Date : 2004

The Impact Of Liberalizing Barriers To Foreign Direct Investment In Services written by Jesper Jensen and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Free trade categories.

The authors estimate that Russia will gain about 7.2 percent of the value of Russian consumption in the medium run from WTO accession and up to 24 percent in the long run. They estimate that the largest gains to Russia will derive from liberalization of barriers against multinational service providers. Piecemeal and systematic sensitivity analysis shows that their results are robust."--Abstract.

Trade Policies For Development And Transition

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Author : David G Tarr
language : en
Publisher: World Scientific Publishing Company
Release Date : 2016-12-29

Trade Policies For Development And Transition written by David G Tarr and has been published by World Scientific Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-29 with Commercial policy categories.

The author has virtually incomparable experience in both providing trade policy advice to more than 25 countries on behalf of the World Bank and also publishing quality journal articles in most of those cases. In this volume, he focuses on his work on: (i) trade policies for countries making the transition from planned to market economies; (ii) his trade policy guideline papers for the World Bank on trade policies for poverty alleviation, uniform tariff policy, adjustment costs of trade liberalization, exchange rate overvaluation, globalization and technology transfer and rules of thumb on regional trade policies; (iii) multilateral, dynamic and environmental issues in trade policy using computable general equilibrium models; (iv) trade policy of the United States in the auto and steel industries; and (v) mathematical methods for modeling. The papers show an unusual combination of policy relevance, advice and impact, with rigor and international trade theory insights. The papers in this volume have appeared in many of the economics profession's more prestigious journals, including Econometrica, Review of Economic Studies, Quarterly Journal of Economics, Economic Journal, the Journal of International Economics, International Economic Review, European Economic Review, Canadian Journal of Economics, Economic Inquiry, the Journal of Comparative Economic, Review of International Economics, World Economy, the Southern Economic Journal, the World Bank Economic Review, the Japanese Economic Review and the Latin American Journal of Economics. In this book, the author elaborates on the articles by discussing some of the policy contexts for the requests for the work from developing and transition countries to the World Bank, the key trade theory or policy insights, policy recommendations and conclusions and the policy impacts.

The Economic Analysis Of Sector Investment Programs

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Author : Sēttaphut Sutthiwātnarưphut
language : en
Publisher: World Bank Publications
Release Date : 1998

The Economic Analysis Of Sector Investment Programs written by Sēttaphut Sutthiwātnarưphut and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Budget categories.