Open Access. Powered by Scholars. Published by Universities.®

International Economics Commons

Open Access. Powered by Scholars. Published by Universities.®

2005

Discipline
Institution
Keyword
Publication
Publication Type

Articles 1 - 30 of 42

Full-Text Articles in International Economics

U.S. Proposal For Wto Agriculture Negotiations: Its Impact On U.S. And World Agriculture, Food And Agricultural Policy Research Institute Dec 2005

U.S. Proposal For Wto Agriculture Negotiations: Its Impact On U.S. And World Agriculture, Food And Agricultural Policy Research Institute

CARD Working Papers

Senator Chambliss, chair of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, asked the Food and Agricultural Policy Research Institute (FAPRI) to analyze the latest U.S. proposal to the Doha round of WTO negotiations (see Appendix 1, U.S. Proposal for WTO Agriculture Negotiations, USTR, October 10, 2005). While the U.S. proposal provides many concrete steps to reduce farm support and trade distortions, it does not provide all necessary information for quantitative analysis of the proposal. FAPRI, through consultations with economists and staffers of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, Office of ...


China's Changing Economic Structures And Its Implications For Regional Patterns Of Trade Production And Integration, Kim Song Tan, Hoe Ee Khor Nov 2005

China's Changing Economic Structures And Its Implications For Regional Patterns Of Trade Production And Integration, Kim Song Tan, Hoe Ee Khor

Research Collection School Of Economics

There is tremendous momentum for economic and financial integration in East Asia today. Partly inspired by the formation of the European Union and partly as a response to the 1997/98 Asia financial crisis, many East Asian countries are showing greater commitment to regional economic cooperation. A number of bilateral free trade agreements (FTAs) have either been concluded or are being negotiated.1 At a less formal level, the ASEAN+3 grouping has brought the whole region together in regular consultations over trade, investment, as well as monetary and exchange rate policy matters.


Tariff Equivalent Of Technical Barriers To Trade With Imperfect Substitution And Trade Costs, Chengyan Yue, John C. Beghin, Helen H. Jensen Nov 2005

Tariff Equivalent Of Technical Barriers To Trade With Imperfect Substitution And Trade Costs, Chengyan Yue, John C. Beghin, Helen H. Jensen

CARD Working Papers

The price-wedge method yields a tariff-equivalent estimate of technical barriers to trade (TBT). An extension of this method accounts for imperfect substitution between domestic and imported goods and incorporates recent findings on trade costs. We explore the sensitivity of this revamped tariff-equivalent estimate to its determinants (substitution elasticity, preference for home good, trade cost, and to the reference data chosen). We use the approach to investigate the ongoing U.S.-Japan apple trade dispute and find that removing the Japanese TBT would yield limited export gains to the United States. We then draw policy implications of our findings.


Eu Enlargement And Technology Transfer To New Member States, Simla Tokgoz Nov 2005

Eu Enlargement And Technology Transfer To New Member States, Simla Tokgoz

CARD Working Papers

The European Union (EU) accomplished its biggest enlargement process in 2004 in terms of the number of countries, area, and population. This study focuses on the impact of enlargement, the resulting technology transfer on the grain sectors of the New Member States (NMS), and the consequent welfare implications. The study finds that EU enlargement has important implications for the EU and the NMS, but its impact on the world grain markets is minimal. The results show that producers in the NMS gain from accession because of higher prices, whereas consumers in most NMS face a welfare loss. Incorporating technology transfer ...


Tariff Escalation And Invasive Species Risk, Anh T. Tu, John C. Beghin, Estelle Gozlan Oct 2005

Tariff Escalation And Invasive Species Risk, Anh T. Tu, John C. Beghin, Estelle Gozlan

CARD Working Papers

We investigate the interface between trade and invasive species (IS) risk, focusing on the existing tariff escalation in agro-forestry product markets and its implication for IS risk. Tariff escalation in processed agro-forestry products exacerbates the risk of IS by biasing trade flows toward increased trade of primary commodity flows and against processed-product trade. We show that reducing tariff escalation by lowering the tariff on processed goods increases allocative efficiency and reduces the IS externality, a win-win situation. We also identify policy menus for trade reforms involving tariffs on both raw input and processed goods, leading to winwin situations.


Bond Yield Compression In The Countries Converging To The Euro, Lucjan T. Orlowski, Kirsten Lommatzsch Oct 2005

Bond Yield Compression In The Countries Converging To The Euro, Lucjan T. Orlowski, Kirsten Lommatzsch

WCBT Faculty Publications

We demonstrate that bond yield compression is under way in the countries converging to the euro and that German yields are significant drivers of local currency yields. Based on the evidence from Poland, Hungary and the Czech Republic, we conclude that these new ...Member States of the European Union are ready to adopt the euro without risking a disruptive shock to their financial stability. This message transpires from investigating the daily volatility dynamics of local bond yields as a function of German yields, conditional on changes in local term spreads, exchange rates and adjustments to central bank reference rates. Similar ...


Institutions, Wages, And Inequality: The Case Of Europe And Its Periphery (1500-1899), Davin Chor Oct 2005

Institutions, Wages, And Inequality: The Case Of Europe And Its Periphery (1500-1899), Davin Chor

Research Collection School Of Economics

This paper explores the long-run relationship between institutions and wage outcomes in Europe and its periphery. I find that cities that exercised stronger institutional protection of private property experienced: (i) higher levels of both skilled and unskilled real wages, as well as (ii) lower levels of inequality as measured by the skilled-unskilled wage ratio. While the first result corroborates existing work on the positive growth effects of better institutions, the second finding is more novel to the literature. Some explanations are proposed for how stronger institutions can cause an increase in the relative supply of skilled workers, thus lowering wage ...


Liberalisation Of The European Services Market And Its Impact On Switzerland: Assessing The Potential Impacts Of Following The Eu's 2004 Services Directive, Henk Lm Kox, Arjan Lejour Sep 2005

Liberalisation Of The European Services Market And Its Impact On Switzerland: Assessing The Potential Impacts Of Following The Eu's 2004 Services Directive, Henk Lm Kox, Arjan Lejour

Henk LM Kox

This report is prepared on request of the Swiss State Secretariat for Economic Affairs (SECO), Division Growth and Competition Policy. SECO asked CPB Netherlands Bureau for Economic Policy Analysis to estimate the quantitative economic implications of a possible decision by the Swiss government to fully adopt the European Commission proposals for a services directive. This report estimates the quantitative economic implications of a possible decision by the Swiss government to fully adopt the European Commission proposals for a services directive. The European Commission's 2004 proposals for a Services Directive consists of measures to reduce or eliminate the obstacles of ...


Dairy Markets In Asia: An Overview Of Recent Findings And Implications, John C. Beghin Sep 2005

Dairy Markets In Asia: An Overview Of Recent Findings And Implications, John C. Beghin

CARD Briefing Papers

This paper is an overview of important findings regarding the ongoing evolution of Asian dairy markets based on a series of new economic investigations. These investigations provide systematic empirical foundations for assessing Asian dairy markets with their new consumption patterns, changing industries, and trade prospects under different domestic and trade policy regimes. The findings are drawn from four case studies (China, India, Japan, and Korea), as well as a prospective analysis of future regional patterns of consumption and a policy analysis of trade liberalization of Asian dairy markets. The overview distills the findings of these new investigations and integrates them ...


What Can The United States Learn From Spain's Pork Sector? Implications From A Comparative Economic Analysis, Sergio H. Lence Sep 2005

What Can The United States Learn From Spain's Pork Sector? Implications From A Comparative Economic Analysis, Sergio H. Lence

MATRIC Research Papers

This study provides a comparative economic analysis of the primary production of pork and its marketing channel in Spain and the United States. The focus on Spain is due to the profound growth and transformation of its pork sector over the last 20 years, compared with other major players in the world market for pig meat. The analysis reveals a number of similar characteristics but also important differences between the two countries. The significant expansion of Spain's pork production sector stemmed from a number of factors that apply, to a relatively large extent, to some U.S. states (in ...


Trade, Growth And Increasing Returns To Infrastructure: The Role Of The Sophisticated Monopolist, Ashok S. Guha, Brishti Guha Sep 2005

Trade, Growth And Increasing Returns To Infrastructure: The Role Of The Sophisticated Monopolist, Ashok S. Guha, Brishti Guha

Research Collection School Of Economics

We consider a model of international trade with increasing returns in a non-traded input into industry, infrastructure, and show that the nature of equilibrium depends crucially on whether the infrastructure provider acts in a naïve manner – akin to a Level 1 agent in a cognitive hierarchy (C-H) model – or in a more sophisticated manner. Infrastructure requires a fixed investment and is produced under decreasing marginal costs, and we model two possible market forms, monopoly and Cournot oligopoly with free entry – both capable of generating pecuniary externalities in the manufacturing sector . Unlike most other work exploring the theme of increasing returns ...


Multilateral Trade And Agricultural Policy Reforms In Sugar Markets, Amani E. Elobeid, John C. Beghin Sep 2005

Multilateral Trade And Agricultural Policy Reforms In Sugar Markets, Amani E. Elobeid, John C. Beghin

CARD Working Papers

We analyze the impact of trade liberalization, removal of production subsidies, and elimination of consumption distortions in world sugar markets using a partial-equilibrium international sugar model calibrated on 2002 market data and current policies. The removal of trade distortions alone induces a 27% price increase while the removal of all trade and production distortions induces a 48% increase by 2011/12 relative to the baseline. Aggregate trade expands moderately, but location of production and trade patterns change substantially. Protectionist OECD countries (the EU, Japan, the US) experience an import expansion or export reduction and significant contraction in production in unfettered ...


After Argentina, Anna Gelpern Sep 2005

After Argentina, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

Argentina recently completed the largest sovereign bond restructuring in history. As soon as the government announced the results of its $100 billion tender in March 2005, editorial pages worldwide heralded a new era for sovereign debt, for the emerging markets and, occasionally, for international finance. Their views on Argentina's lessons were as disparate as they were definite. Some said the exchange would close the markets to middle-income countries. To others, it reaffirmed the markets' resilience. Some claimed it proved the need for statutory sovereign bankruptcy. Others said it clearly discredited the idea. Most spoke too soon. The deal took ...


Protection For Sale Under Monopolistic Competition, Pao Li Chang Aug 2005

Protection For Sale Under Monopolistic Competition, Pao Li Chang

Research Collection School Of Economics

This paper proposes a general empirical framework to estimate the protection-for-sale model, where the protection regime shifts according to a sector's market structure (perfectly or monop-olistically competitive). We base the protection structure on Grossman and Helpman (1994) for the subset of perfectly competitive sectors and on Chang (2005) for the subset of monop- olistically competitive sectors. The two protection regimes are simultaneously estimated with joint constraints. The results of the J-test consistently reject the homogeneous (perfect compe- tition) protection-for-sale model often adopted in previous literature and suggest a direction of improvement toward the proposed heterogeneous protection structure model.


The 2004 Global Labour Survey: Working Institution And Practices Around The World, Davin Chor, Richard B. Freeman Aug 2005

The 2004 Global Labour Survey: Working Institution And Practices Around The World, Davin Chor, Richard B. Freeman

Research Collection School Of Economics

The 2004 Global Labor Survey (GLS) is an Internet-based survey that seeks to measure de facto labor practices in countries around the world, covering issues such as freedom of association, the regulation of work contracts, employee benefits and the prevalence of collective bargaining. To find out about de facto practices, the GLS invited labor practitioners, ranging from union officials and activists to professors of labor law and industrial relations, to report on conditions in their country. Over 1,500 persons responded, which allowed us to create indices of practices in ten broad areas for 33 countries. The GLS' focus on ...


California’S Ocean Economy, Judith T. Kildow Dr, Charles S. Colgan Jul 2005

California’S Ocean Economy, Judith T. Kildow Dr, Charles S. Colgan

Publications

California’s Ocean Economy is the most expansive study of its kind in the nation and provides an update to the 1994 economic study conducted by the California Research Bureau and later released as part of the Resources Agency ocean strategy titled, California’s Ocean Resources: An Agenda for the Future. This report from the National Ocean Economics Program (NOEP) provides a more comprehensive understanding of the economic role of California’s ocean resources than has been available to date. It also provides California with strong evidence that its unique ocean and coastal resources are important to sustaining California’s ...


Growing Demand For Animal-Protein-Source Products In Indonesia: Trade Implications, Jacinto F. Fabiosa Jul 2005

Growing Demand For Animal-Protein-Source Products In Indonesia: Trade Implications, Jacinto F. Fabiosa

CARD Working Papers

New elasticities were estimated from Indonesia's 1996, 1999, and 2002 National Socio-Economic Survey, or SUSENAS, data using a double-hurdle demand specification. The estimates suggest that major changes in Indonesian household diets are expected in the coming years, as income growth is sustained and as urbanization proceeds at a fast pace. The consumption "trading-up" pattern for animal-protein source products observed in many countries may also occur in Indonesia. In this particular case, households will shift from fish to dairy and meat products. The trade impacts of this emerging consumption pattern will be determined by the cost of adjustment in Indonesia ...


Protection For Sale Under Monopolistic Competition, Pao Li Chang Jul 2005

Protection For Sale Under Monopolistic Competition, Pao Li Chang

Research Collection School Of Economics

This paper broadens the protection for sale model of Grossman and Helpman (1994) by incorporating the Krugman–Dixit–Stiglitz model of monopolistic competition, given its importance in explaining the prevalence of intraindustry trade. Several new results arise in this paper. First, the endogenous import tariff will never fall below zero, even in unorganized sectors. Second, the endogenous export policy for organized sectors is not necessarily an export subsidy, and can be an export tax as in unorganized sectors. Third, the level of import protection varies inversely with the degree of import penetration, regardless of whether the sector is organized or ...


Export-Led Growth In Bangladesh: A Time Series Analysis, Hiranya K. Nath, Khawaja Mamun May 2005

Export-Led Growth In Bangladesh: A Time Series Analysis, Hiranya K. Nath, Khawaja Mamun

WCBT Faculty Publications

This article examines time series evidence to investigate the link between exports and economic growth in Bangladesh. Using quarterly data for a period from 1976 to 2003 the article finds that industrial production and exports are cointegrated. The results of an error correction model (ECM) suggest that there is a long-run unidirectional causality from exports to growth in Bangladesh.


What Matters For Financial Development? Capital Controls, Institutions, And Interactions, Menzie David Chinn, Hiro Ito May 2005

What Matters For Financial Development? Capital Controls, Institutions, And Interactions, Menzie David Chinn, Hiro Ito

Economics Faculty Publications and Presentations

We extend our earlier work, focusing on the links between capital account liberalization, legal and institutional development, and financial development, especially that in equity markets. In a panel data analysis encompassing 108 countries and twenty years ranging from 1980 to 2000, we explore several dimensions of the financial sector. First, we test whether financial openness can lead to equity market development when we control for the level of legal and institutional development. Then, we examine whether the opening of the goods sector is a precondition for financial opening. Finally, we investigate whether a well-developed banking sector is a precondition for ...


Structural Break In India's Growth, Ambrish A. Dongre, Neeraj Hatekar Apr 2005

Structural Break In India's Growth, Ambrish A. Dongre, Neeraj Hatekar

Ambrish A Dongre

How significant was the shift in the economic growth performance that occurred in the 1950s, relative to the shift that is supposed to have occurred in the 1980s? If one were to identify the single most significant break date in India’s growth performance, does it turn out to be 1951-52 or 1980-81 or some such year in the post 1980s? The hypothesis in this paper is that the single most important trend break in GDP growth is to be found not in the 1980s, as the existing literature claims, but in the early 1950s. This is not because the ...


Legitimacy, Interest Group Pressures And Change In Emergent Institutions: The Case Of Foreign Investors And Host Country Governments, Witold J. Henisz, Bennet A. Zelner Apr 2005

Legitimacy, Interest Group Pressures And Change In Emergent Institutions: The Case Of Foreign Investors And Host Country Governments, Witold J. Henisz, Bennet A. Zelner

Management Papers

We offer a simple model of policy making, emphasizing socialization and limits on human cognition to explicate mechanisms of change in emergent (as opposed to established) institutions. Emergent institutions are more susceptible to change, and their opponents may use frames or existing reference points to illustrate inconsistency with prevailing notions of legitimacy. Broader institutional structures and specific organizational characteristics moderate pressure for change. This perspective has novel implications for strategy and policy design.


Efficiency And Efficacy Of Kenya's Constituency Development Fund: Theory And Evidence, Mwangi S. Kimenyi Apr 2005

Efficiency And Efficacy Of Kenya's Constituency Development Fund: Theory And Evidence, Mwangi S. Kimenyi

Economics Working Papers

Kenya's Constituency Development Fund (CDF) is one of the ingenious innovations of the National Rainbow Coalition (NARC) Government of Kenya. Unlike other development funds that filter from the central government through larger and more layers of administrative organs and bureaucracies, funds under this program go directly to local levels and thus provide people at the grassroots the opportunity to make expenditure decisions that maximize their welfare consistent with the theoretical predictions of decentralization theory. Increasingly, however, concerns about the utilization of funds under this program are emerging. Most of the concerns revolve around issues of allocative efficiency. In this ...


Targeting Relative Inflation Forecast As Monetary Policy Framework For Adopting The Euro, Lucjan T. Orlowski Feb 2005

Targeting Relative Inflation Forecast As Monetary Policy Framework For Adopting The Euro, Lucjan T. Orlowski

WCBT Faculty Publications

This study proposes relative inflation forecast targeting as an operational framework of monetary policy for adopting the euro by the EU new Member States. This strategy assumes containing differentials between the domestic and the eurozone inflation forecasts as an operational target. A model prescribing the RIFT framework is presented along with a set of appropriate policy indicator variables and instrument rules. The proposed framework advances the strategy based on relatively strict inflation targeting that is currently pursued by some NMS. Several ARCHclass tests in various functional forms are employed for providing preliminary empirical evidence on convergence of inflation differentials relative ...


The Impact Of The European Enlargement And Common Agricultural Policy Reforms On Agricultural Markets: Much Ado About Nothing?, Jacinto F. Fabiosa, John C. Beghin, Fengxia Dong, Amani E. Elobeid, Frank H. Fuller, Holger Matthey, Simla Tokgoz, Eric Wailes Feb 2005

The Impact Of The European Enlargement And Common Agricultural Policy Reforms On Agricultural Markets: Much Ado About Nothing?, Jacinto F. Fabiosa, John C. Beghin, Fengxia Dong, Amani E. Elobeid, Frank H. Fuller, Holger Matthey, Simla Tokgoz, Eric Wailes

CARD Working Papers

Following a historical agreement on the EU enlargement, 10 new member states (NMS) acceded to the European Union on May 1, 2004. Although the European Union has expanded its membership in the past, this enlargement is unique in terms of its scope and diversity of the countries, area, and population involved. Thus, the effects of the EU enlargement on current and future member countries and on world commodity markets require careful consideration as the European Union is a major player in these markets. We analyze the effects of the Common Agricultural Policy (CAP) reform and enlargement on the EU-15, the ...


On Measuring The Efficiency Of The Social Security System Reforms. The Case Of Poland, Joanna Tyrowicz, Piotr Mularczyk Jan 2005

On Measuring The Efficiency Of The Social Security System Reforms. The Case Of Poland, Joanna Tyrowicz, Piotr Mularczyk

Joanna Tyrowicz

As other European countries, transition economies face the reform of the social security system. As one of the first, Poland has introduced a pension reform in 1999, which changed a standard pay-as-you-go system into a one constructed of three pillars and based on addressed contributions. The five years from the reform allow to take a first look at the reform, both in terms of assessing the legal implementation as well as the realization of main assumptions and aims. In this paper we consider the effectiveness of the reform. We find that in many aspects this reform should not be considered ...


‘Empowering Europe’S Citizens’? Towards A Charter For Services Of General Interest, Judith Clifton, Daniel Díaz-Fuentes, Francisco Comín Jan 2005

‘Empowering Europe’S Citizens’? Towards A Charter For Services Of General Interest, Judith Clifton, Daniel Díaz-Fuentes, Francisco Comín

Judith Clifton

This article analyses the development of the European Union (EU) project of a Charter for Services of General Interest (SGI) from the mid-1990s to the publication of the White Paper on Services of General Interest and the draft European Constitution in 2004. Though service charters are often associated with New Public Management (NPM) reforms related to privatization, they are also an integral part of the process of EU institution building, and need to be understood alongside developments such as the Charter of Fundamental Rights. Using a four-stage model of international NPM convergence analysis four phases of the Charter for SGI ...


Immigrants And Their International Money Flows 2005-06, Western Michigan University Jan 2005

Immigrants And Their International Money Flows 2005-06, Western Michigan University

Werner Sichel Lecture Series

Workers' remittances, the repatriated earnings of immigrant workers, have captured the attention of policymakers and researchers. For a number of developing nations these inflows of funds are their largest source of foreign exchange earnings--exceeding official aid, direct foreign investment, and goods export earnings. Despite the fact that these inflows are large and are becoming larger, we know very little about either the determinants of international transfers or about their impacts on receiving economies. WMU's forty-second lecture-seminar series "Immigrants and Their International Money Flows," will address a myriad of issues relating to these growing international money transfers.


Environmental Trade Measures, The Shrimp-Turtle Rulings, And The Ordinary Meaning Of The Text Of The Gatt, Howard F. Chang Jan 2005

Environmental Trade Measures, The Shrimp-Turtle Rulings, And The Ordinary Meaning Of The Text Of The Gatt, Howard F. Chang

Faculty Scholarship at Penn Law

No abstract provided.


Estimating Models Of Complex Fdi: Are There Third-Country Effects?, Badi H. Baltagi, Peter Egger, Michael Pfaffermayr Jan 2005

Estimating Models Of Complex Fdi: Are There Third-Country Effects?, Badi H. Baltagi, Peter Egger, Michael Pfaffermayr

Center for Policy Research

The recent general equilibrium theory of trade and multinationals emphasizes the importance of third countries and the complex integration strategies of multinationals. Little has been done to test this theory empirically. This paper attempts to rectify this situation by considering not only bilateral determinants, but also spatially weighted third-country determinants of foreign direct investment (FDI). Since the dependency among host markets is particularly related to multinationals' trade between them, we use trade costs (distances) as spatial weights. Using panel data on U.S. industries and host countries observed over the 1989-1999 period, we estimate a "complex FDI" version of the ...