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2002

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Articles 1 - 30 of 34

Full-Text Articles in International Economics

Is Ricardo's Essay On Profits A Precursor Of The New Trade Theory?, Hian Teck Hoon Dec 2002

Is Ricardo's Essay On Profits A Precursor Of The New Trade Theory?, Hian Teck Hoon

Research Collection School Of Economics

This paper carefully analyzes a passage of Ricardo’s Essay on Profits ([1815] 1923), which suggests that he clearly understood the effects of both interindustry as well as intraindustry trade. In the context of the Essay model, Ricardo argues that free interindustry trade involving an exchange of manufactures for agricultural good (from England’s point of view) raises the rate of profit through lowering the relative price of the agricultural good. On the other hand, where trade involves simply an exchange of manufactures for manufactures, these being produced under conditions of economies of scale (division of labour in manufactures (pg ...


A Model Of Industrialization And International Wage Convergence Based On Multi-Plant Foreign Direct Investment, Hian Teck Hoon, Irene Ng Dec 2002

A Model Of Industrialization And International Wage Convergence Based On Multi-Plant Foreign Direct Investment, Hian Teck Hoon, Irene Ng

Research Collection School Of Economics

We show that for industrialization and international wage convergence through multi-plant foreign direct investment (FDI) to occur, the measure of the quality of the social infrastructure in the South relative to that in the North must be at least as large as the South-North wage ratio. We also show that if profitable FDI flows already take place from the North to the most productive economy in the South, then less productive Southern economies can also become recipients of FDI, provided that they are integrated into the world trading system, and there are no impediments to the decline of their wage ...


Three Essays On Economic Reform: Effects On Human Development, Fertility, And Factor Shares, Khaled Ibrahim Abdel-Kader Dec 2002

Three Essays On Economic Reform: Effects On Human Development, Fertility, And Factor Shares, Khaled Ibrahim Abdel-Kader

Dissertations

This dissertation contains three essays on economic reform programs supported by the IMF and World Bank. Using appropriate theoretical and empirical models, we investigate the impact of reform on three aspects of economic development: (1) human development, (2) fertility, and (3) income shares of factors of production. In the first essay, we examine the long-run impact of reform on different measures o f human development and income. Empirical results show that reform has long-run positive impact on GDP per capita and measures of human development. However, worse initial macroeconomic conditions offset this impact. In the second essay, we examine the ...


The Doha Round Of The World Trade Organization: Appraising Further Liberalization Of Agricultural Markets, Bruce A. Babcock, John C. Beghin, Jacinto F. Fabiosa, Stéphane De Cara, Amani E. Elobeid, Cheng Fang, Chad E. Hart, Murat Isik, Holger Matthey, Alexander E. Saak, Karen P. Kovarik, Food And Agricultural Policy Research Institute Nov 2002

The Doha Round Of The World Trade Organization: Appraising Further Liberalization Of Agricultural Markets, Bruce A. Babcock, John C. Beghin, Jacinto F. Fabiosa, Stéphane De Cara, Amani E. Elobeid, Cheng Fang, Chad E. Hart, Murat Isik, Holger Matthey, Alexander E. Saak, Karen P. Kovarik, Food And Agricultural Policy Research Institute

CARD Working Papers

Using the Food and Agricultural Policy Research Institute (FAPRI) modeling system, we investigate the multilateral removal of border taxes and farm programs and their distortion of world agricultural markets. We find that agricultural and trade distortions have significant terms-of-trade effects. Terms-of-trade effects caused by trade barriers are much larger than those caused by domestic farm programs. World trade is also significantly impacted. Trade expansion is substantial for most commodities, especially dairy, meats, and vegetable oils. Net agricultural and food exporters, such as Brazil, Australia, and Argentina, emerge with expanded exports, whereas net importing countries with limited distortions before liberalization are ...


Why Can't U.S. Beef Compete In The European Union?, Roxanne L. B. Clemens, Bruce A. Babcock Nov 2002

Why Can't U.S. Beef Compete In The European Union?, Roxanne L. B. Clemens, Bruce A. Babcock

MATRIC Briefing Papers

The stringent guidelines for producing, harvesting, and shipping certified non-hormone treated beef for the European Union create additional costs that greatly reduce the competitiveness of U.S. beef. What had once been a large market for beef variety meats and then a niche market for non-treated beef has all but vanished because the E.U. hormone ban and regulations for producing and certifying non-treated beef have made U.S. product too expensive to export. Some producers continue to obtain U.S. Department of Agriculture certification for their non-hormone treated beef, but most are selling their fully traceable, certified cattle into ...


Trends. When Governments Want Government To Change, Editor Oct 2002

Trends. When Governments Want Government To Change, Editor

International Bulletin of Political Psychology

This Trends article discusses regime change in Germany and Iraq in a political psychological context.


Thinking About Thinking In An Era Of Globalization: Implications For International Security, Editor Oct 2002

Thinking About Thinking In An Era Of Globalization: Implications For International Security, Editor

International Bulletin of Political Psychology

This article identifies and critiques hypotheses concerning the impact of globalization on thinking and suggests consequences of thinking (reason, logic) as an epistemological tool of international security.


Japanese Capitalism In Crisis: A Regulationist Interpretation (Book Review), Ramzi N. Frangul Oct 2002

Japanese Capitalism In Crisis: A Regulationist Interpretation (Book Review), Ramzi N. Frangul

WCBT Faculty Publications

Book review by Ramzi N. Frangul.

Boyer, Robert and Toshio Yamada, eds. Japanese Capitalism in Crisis: A Regulationist Interpretation. London, New York: Routledge, 2000. ISBN 9780415205597


Globalization Of Financial Markets And The Asian Crisis: Some Lessons For Third World Developing Countries, Jong H. Park Oct 2002

Globalization Of Financial Markets And The Asian Crisis: Some Lessons For Third World Developing Countries, Jong H. Park

Faculty Publications

Park examines the causes of the Asian financial crisis and draws some lessons and implications for a series of issues, which may be of particular relevance to the Third World developing countries. These issues include: the appropriate role of the International Monetary Fund as an international agency in charge of helping member countries to maintain financial stability; the choice of an appropriate exchange rate regime and use of restrictions on private capital flows in the face of rising globalization; and the debate on the East Asian model of economic development.


Trade Policy Under Asymmetric Information, Harvey E. Lapan, Tigran Melkonian Sep 2002

Trade Policy Under Asymmetric Information, Harvey E. Lapan, Tigran Melkonian

Economics Working Papers (2002–2016)

We consider optimal trade policy for a large country with private information. We show that the optimal tariff leads to a signaling equilibrium with higher tariffs and lower welfare than under complete information, whereas the optimal import quota replicates the complete information equilibrium and thus is superior to the tariff. We also show that, with the tariff, the country may be better off being uninformed. Finally, we show that if the importing nation cannot commit to its tariff, the use of futures contracts together with the dynamically consistent tariff leads to the same equilibrium as under complete information with commitment.


Networking And Foreign Direct Investment Activity, Bruce A. Blonigen, Rossitza B. Wooster Sep 2002

Networking And Foreign Direct Investment Activity, Bruce A. Blonigen, Rossitza B. Wooster

Economics Faculty Publications and Presentations

We conduct an empirical investigation into whether networking effects affect foreign direct investment (FDI) activity. Using bibliographical information on CEOs’ birth and education locations, we are able to identify changes from U.S. to foreign-connected CEOs that occurred in U.S. manufacturing firms of the S&P 500 from 1992 through 1997. Robust to a variety of specifications, we find that a U.S. firm’s switch from a U.S.- to a foreign-connected CEO leads to substantial increases in the firm’s proportion of its assets and sales that are in foreign markets. In fact, our preferred specification indicates ...


Does The U.S. Midwest Have A Cost Advantage Over China In Producing Corn, Soybeans, And Hogs?, Cheng Fang, Jacinto F. Fabiosa Aug 2002

Does The U.S. Midwest Have A Cost Advantage Over China In Producing Corn, Soybeans, And Hogs?, Cheng Fang, Jacinto F. Fabiosa

MATRIC Research Papers

China's accession to the World Trade Organization, a significant event for U.S. agricultural trade, has been viewed as benefitting U.S. farmers, especially midwestern farmers. This research compares the productivity and cost of production (COP) of China and the United States in producing corn, soybeans, and hogs. The results show that the U.S. Midwest (defined in this study as the Heartland region as classified by the U.S. Department of Agriculture's Economic Research Service) has a substantial advantage in land and labor productivities in producing corn and soybeans, especially compared to China's South and West ...


The Evolution And Utilization Of The Gatt/Wto Dispute Settlement Mechanism, Pao Li Chang Aug 2002

The Evolution And Utilization Of The Gatt/Wto Dispute Settlement Mechanism, Pao Li Chang

Research Collection School Of Economics

This paper attempts to study the usage of the GATT/WTO dispute settlement mechanism and to explain its patterns across different regimes and decades, using a unified theoretical model. This study first explores the role of the degree of legal controversy over a panel ruling in determining countries’ incentives to block/appeal a panel report under the GATT/WTO regime. The model is able to explain the surge in blocking incidence during the 1980s over the preceding GATT years and the immense frequency at which the new appellate procedure under the WTO is invoked. Furthermore, a two-sided asymmetric information framework ...


Endogenous Tariff Formation With Intra-Industry Trade, Pao-Li Chang Aug 2002

Endogenous Tariff Formation With Intra-Industry Trade, Pao-Li Chang

Research Collection School Of Economics

Previous theoretical contributions on endogenous tariff formation have focused on trade models with homogeneous goods and constant returns to scale. This paper investigates the political equilibrium of trade policy when economic structure is instead characterized by differentiated products and increasing returns to scale and there exists intra-industry trade. The result shows that endogenous tariffs are positive for all industries with non-negligible shares of world production. However, the level of protection is less than the optimal tariff that would otherwise be imposed by a benevolent government in an unorganized industry, and higher in an organized industry. The protection provided to all ...


Assessing The Impact Of The Exchange Rate And Its Volatility On Canadian Pork And Live Swine Exports To The United States And Japan, Jacinto F. Fabiosa Jun 2002

Assessing The Impact Of The Exchange Rate And Its Volatility On Canadian Pork And Live Swine Exports To The United States And Japan, Jacinto F. Fabiosa

CARD Working Papers

model of a representative Canadian pork exporter is developed to examine the impacts of the exchange rate and its volatility on pork and live swine exports. The pork export supply equation is expressed as a function of the expected level of real exchange rate and a time-varying variance of real exchange rate. An AR(p) model is used to represent the expected real exchange rate, and a GARCH(p, q) model is used to generate the time-varying variance. The same model is used to examine the sensitivity of pork exports to Japan from Canada, the United States, and Denmark.

The ...


Global Agricultural Trade And The Doha Round: What Are The Implications For North And South?, John C. Beghin, David Roland-Holst, Dominique Van Der Mensbrugghe Jun 2002

Global Agricultural Trade And The Doha Round: What Are The Implications For North And South?, John C. Beghin, David Roland-Holst, Dominique Van Der Mensbrugghe

CARD Working Papers

The next three-year World Trade Organization round has been set in motion by recent negotiations in Doha, Qatar. Among the most contentious issues in that meeting, and probably over the course of the next round, is direct and indirect producer support for agricultural exporters in the North and forgone production, employment, and trading opportunities for farmers in the South. Our results indicate that real commitments to reduce agricultural support in high-income countries will induce substantial changes in world food prices and domestic agricultural rates of return and output and will cause dramatic shifts in agricultural trade patterns. Total trade expands ...


Beef Mission 2001: Chengdu, Guangzhou, Panyu, And Hong Kong, China, Steven M. Lonergan May 2002

Beef Mission 2001: Chengdu, Guangzhou, Panyu, And Hong Kong, China, Steven M. Lonergan

MATRIC Briefing Papers

The U.S. beef industry has many reasons for optimism about the potential for increasing beef and beef variety meat exports to China. China's recent accession to the World Trade Organization lowers tariff rates on imported beef muscle meats and variety meats, low per capita consumption among Chinese consumers means there is good potential for increased consumption, and increasing incomes will allow consumers to purchase more beef. In addition, the Chinese market is highly complementary to the U.S. domestic market and offers potential for additional exports of beef cuts and variety meats that are underutilized in the United ...


The Economics Of Corruption In Developing Countries, Ramchandra Akkihal, Harlan M. Smith Ii, Roger Adkins Apr 2002

The Economics Of Corruption In Developing Countries, Ramchandra Akkihal, Harlan M. Smith Ii, Roger Adkins

Economics Faculty Research

Official corruption, unfortunately, is endemic in the developing world. One factor in the spread of this illegal activity has been the propensity of developing-country governments to intervene heavily in their economies, often in the attempt to guide, direct, and control economic activity in order to promote the desired pace and style of economic development. Such regulatory efforts, though now on the wane in much of the developing world, continue to generate opportunities in many countries for bureaucrats in control of scarce resources to allocate them on a non-market basis, to further their own economic, political, and social prospects.


The Effects Of Structural Adjustment Liberalization On Cultural Gender Inequality As Applied To A Case Study Of Ghana, Angela Benishek Apr 2002

The Effects Of Structural Adjustment Liberalization On Cultural Gender Inequality As Applied To A Case Study Of Ghana, Angela Benishek

Political Science and International Relations Undergraduate Theses

The poverty and deprivation existing today in the developing world makes it difficult for women to prosper economically. Structural Adjustment Programs are policies created by the International Monetary Fund to help countries repay their foreign debt by improving the overall prosperity of the country, and in so doing it is assumed the economic prosperity of women will increase as well. The theory being that as the wealth of the country increases it will automatically be translated into greater wealth for its citizens, including women. However, critics claim that SAPs have failed to help women, because of the cultural biases within ...


Applied Monetary Policy And Bank Supervision By The Ecb, Mads Andenas, Lazaros E. Panourgias Jan 2002

Applied Monetary Policy And Bank Supervision By The Ecb, Mads Andenas, Lazaros E. Panourgias

Mads Andenas

Monetary policy and banking supervision are closely related and interdependent concepts. Monetary policy and central banking are not defined in such a manner in the Maastricht Treaty that it precludes the European Central Bank from taking on a wider responsibility for financial stability and the handling of banking crises. The article introduced the term 'macro-prudential supervision', explained as 'supervision with a view to safeguarding systemic stability', in a section with the heading 'Default Supervision of Central Banks'.


The U.S.-Taiwan Free Trade Area Agreement: A Bridge For Economic Integration In The Asia-Pacific Region, Peter C.Y. Chow Jan 2002

The U.S.-Taiwan Free Trade Area Agreement: A Bridge For Economic Integration In The Asia-Pacific Region, Peter C.Y. Chow

Maryland Series in Contemporary Asian Studies

No abstract provided.


Globalization, Inequality, And The Rich Countries Of The G-20: Evidence From The Luxembourg Income Study (Lis), Timothy M. Smeeding Jan 2002

Globalization, Inequality, And The Rich Countries Of The G-20: Evidence From The Luxembourg Income Study (Lis), Timothy M. Smeeding

Center for Policy Research

The purpose of this study is to summarize and comment upon what we know about the determinants of both the level and trend in economic inequality over the past two decades, and to relate these findings to the progress of globalization in these nations. While the fruits of economic progress in rich nations have not been equally spread, we argue that most citizens enrich Organization for Economic Cooperation and Development (OECD) nations have benefited from the trend toward global economic progress. We begin with a summary of the differences in overall economic inequality within the G-20 nations based on LIS ...


Promoting Foreign Direct Investment In Bulgaria, Vessela Kapoulian Jan 2002

Promoting Foreign Direct Investment In Bulgaria, Vessela Kapoulian

Inquiry: The University of Arkansas Undergraduate Research Journal

This paper examines the factors that favor Foreign Direct Investment ( FDI) in Bulgaria and recommends public policy changes that will enhance the international competitiveness of Bulgaria. Four factors that favor an increase in FDI in Bulgaria are clearly identified. First, although the economic environment is considered challenging compared to other countries in the region, Bulgaria enjoys political stability. Second, Bulgaria offers a low-cost, well-educated labor pool, although additional public investments in foreign language training may be needed. Third, there are investment opportunities for infrastructure development through privatization in the areas of energy, information technology (IT), and transportation. Bulgaria is searching ...


The Role Of World Trade Organizations In Settling Trade Disputes Between The United States And The European Union, Erin Walker Jan 2002

The Role Of World Trade Organizations In Settling Trade Disputes Between The United States And The European Union, Erin Walker

Inquiry: The University of Arkansas Undergraduate Research Journal

Description of Topic: In settling trade disputes, members of the World Trade Organization use a dispute settlement mechanism set forth in the Uruguay Round of trade negotiations. This multilateral system of settling disputes is implemented if a member believes other members are violating trade rules. Disputes arise when countries adopt policies that break the WTO agreements or that cause them to fail to fulfill obligations. Dispute settlement procedures have existed under many different trade agreements. While current processes are more effective than those of past agreements, they still lack credibility and effectiveness. Research and Results: The United States and the ...


The New Basel Capital Accord: Making It Effective With Stronger Market Discipline, Harald Benink, Clas Wihlborg Jan 2002

The New Basel Capital Accord: Making It Effective With Stronger Market Discipline, Harald Benink, Clas Wihlborg

Business Faculty Articles and Research

In January 2001 the Basel Committee on Banking Supervision proposed a new capital adequacy framework to respond to deficiencies in the 1988 Capital Accord on credit risk. The main elements or ‘pillars’ of the proposal are capital requirements based on the internal risk-ratings of individual banks, expanded and active supervision, and information disclosure requirements to enhance market discipline. We discuss the incentive effects of the proposed regulation. In particular, we argue that it provides incentives for banks to develop new ways to evade the intended consequences of the proposed regulation. Supervision alone cannot prevent banks from ‘gaming and manipulation’ of ...


Liberal Ideals And Political Feasibility: Guest-Worker Programs As Second-Best Policies, Howard F. Chang Jan 2002

Liberal Ideals And Political Feasibility: Guest-Worker Programs As Second-Best Policies, Howard F. Chang

Faculty Scholarship at Penn Law

No abstract provided.


Fapri 2002 World Agricultural Outlook, Bruce A. Babcock, John C. Beghin, Jacinto F. Fabiosa, Stéphane De Cara, Amani E. Elobeid, Cheng Fang, Frank Fuller, Chad Hart, Murat Isik, Holger Matthey, Alexander E. Saak, Karen Kovarik, Abner W. Womack, Robert E. Young Ii, Patrick C. Westhoff, Joe Trujillo, D. Scott Brown, Gary M. Adams, Brian Willott, Daniel Madison, Seth Meyer, John Kruse, Julian Binfield Jan 2002

Fapri 2002 World Agricultural Outlook, Bruce A. Babcock, John C. Beghin, Jacinto F. Fabiosa, Stéphane De Cara, Amani E. Elobeid, Cheng Fang, Frank Fuller, Chad Hart, Murat Isik, Holger Matthey, Alexander E. Saak, Karen Kovarik, Abner W. Womack, Robert E. Young Ii, Patrick C. Westhoff, Joe Trujillo, D. Scott Brown, Gary M. Adams, Brian Willott, Daniel Madison, Seth Meyer, John Kruse, Julian Binfield

FAPRI Staff Reports

The FAPRI 2002 World Agricultural Outlook presents final projections of FAPRI’s agricultural outlook on world agricultural production, consumption, and trade. FAPRI projections assume average weather patterns worldwide, existing policy, policy commitments under current trade agreements, and recent policy changes such as the accession of China and Taiwan to the WTO. FAPRI projections do not include conjectures on potential policy changes. The major macroeconomic drivers of the 2002 FAPRI baseline are the deepening crisis in Argentina, the U.S. dollar’s continuing strength relative to most other currencies, and the progressive recovery of economic activities in most OECD countries over ...


U.S. Farm Policy And The World Trade Organization: How Do They Match Up?, Chad E. Hart, Bruce A. Babcock Jan 2002

U.S. Farm Policy And The World Trade Organization: How Do They Match Up?, Chad E. Hart, Bruce A. Babcock

CARD Working Papers

The debate over a new farm bill has focused on how to spend an additional $73.5 billion in funding for the agricultural budget over 10 years. The House of Representatives, the Senate agriculture committee, and Senators Cochran and Roberts (supported by the Bush administration) have each proposed a structure for the next farm bill. A critical question becomes whether these proposals conflict with U.S. commitments to limit subsidies under the World Trade Organization (WTO) agreement. This paper explores this issue and concludes with a discussion of the future direction of U.S. farm subsidies and new WTO agreements


Securities Regulation As Lobster Trap: A Credible Commitment Theory Of Mandatory Disclosure, Edward B. Rock Jan 2002

Securities Regulation As Lobster Trap: A Credible Commitment Theory Of Mandatory Disclosure, Edward B. Rock

Faculty Scholarship at Penn Law

No abstract provided.


Imports, Exports, And Jobs: What Does Trade Mean For Employment And Job Loss?, Lori G. Kletzer Jan 2002

Imports, Exports, And Jobs: What Does Trade Mean For Employment And Job Loss?, Lori G. Kletzer

Upjohn Press

Kletzer adds to our understanding of the magnitude of the costs and benefits of free trade. She presents a focused examination of the relationship between changes in international trade, employment, and job displacement for a sample of U.S. manufacturing industries. The link between international trade and domestic jobs is also explored through studies of both net and gross employment job change.