Author : Emilio J. Medina-Smith
Publisher : United Nations Conference on Trade and Development
Page : 64 pages
File Size : 28,96 MB
Release : 2001
Category : Business & Economics
ISBN :
The export-led growth hypothesis (ELGH) postulates that export growth is one of the determinants of economic growth. This study tests the hypothesis by examining the economy of Costa Rica, using data going back to 1950. It found that although exports had a positive effect on growth, their impact was relatively. It thus challenges some of the empirical literature on ELGH and expresses doubts about using exports as a comprehensive development strategy.
Author : Gershon Feder
Publisher : World Bank Publications
Page : 24 pages
File Size : 43,1 MB
Release : 1982
Category : Commerce
ISBN : 9780686397656
Author : Daniel Lederman
Publisher : World Bank Publications
Page : 148 pages
File Size : 47,49 MB
Release : 2012-06-18
Category : Business & Economics
ISBN : 0821395467
Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products that only incidentally favor some sectors over others.
Author : Mona Haddad
Publisher : World Bank Publications
Page : 352 pages
File Size : 24,71 MB
Release : 2011
Category : Business & Economics
ISBN : 0821386336
The global financial crisis triggered a broad reassessment of economic integration policies in developed and developing countries worldwide. The crisis-induced collapse in trade was the sharpest ever since World War II, affecting all countries and all product categories. A huge shock to the trading system, combined with severe macroeconomic instability, makes it natural for policymakers to call into question the basic underlying assumptions of trade liberalization and openness. In particular, outward-oriented or export-led growth strategies are being reassessed as openness is increasingly associated with greater volatility. However, it is crucial not to lose sight of the dynamic benefits that openness can offer. Examples include technology transfer, increased competitive pressure that reduces markups and improves efficiency, and economies of scale. The real question is how to manage outward-oriented strategies so as to maximize the benefits of openness while minimizing risks. This book aims to contribute to this important and ongoing policy debate, bringing together recent empirical work on the trade collapse, its causes and consequences, and the broader trade policy agenda in the post-crisis environment. It addresses critical policy issues revolving around the topic of outward-oriented growth strategy, including policy instruments that help manage risks associated with outward-orientation, lessons learned from the crisis for particular countries and regions, and how emerging trade policy issues such as climate change, commodities, global production networking, and migration affect the prospects for recovery and outward-oriented growth.
Author : Mr.Dhaneshwar Ghura
Publisher : International Monetary Fund
Page : 32 pages
File Size : 35,83 MB
Release : 1995-12-01
Category : Business & Economics
ISBN : 1451855753
The paper investigates empirically the determinants of economic growth for a large sample of sub-Saharan African countries during 1981-92. The results indicate that (i) an increase in private investment has a relatively large positive impact on per capita growth; (ii) growth is stimulated by public policies that lower the budget deficit in relation to GDP (without reducing government investment), reduce the rate of inflation, maintain external competitiveness, promote structural reforms, encourage human capital development, and slow population growth; and (iii) convergence of per capita income occurs after controlling for human capital development and public policies.
Author :
Publisher : Universal-Publishers
Page : 109 pages
File Size : 32,77 MB
Release : 2011-09-28
Category :
ISBN : 1612335403
Author : World Bank
Publisher : World Bank Publications
Page : 545 pages
File Size : 42,4 MB
Release : 2019-11-19
Category : Business & Economics
ISBN : 1464814953
Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
Author : David Dollar
Publisher : Brookings Institution Press
Page : 444 pages
File Size : 39,50 MB
Release : 2020-06-09
Category : Political Science
ISBN : 0815738064
How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.
Author : Romain Wacziarg
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 24,41 MB
Release : 2018
Category : Free trade
ISBN : 9781788111492
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.
Author : Vijay Joshi
Publisher : World Bank Publications
Page : 420 pages
File Size : 11,75 MB
Release : 1994-01-01
Category : Business & Economics
ISBN : 9780821326527
Presents a history of India's macroeconomy and recent developments in its political economy. Valuable lessons from India's stabilization policies explain how structural adjustment can also benefit long-term growth in the subcontinent. This analysis looks at various government policies that have influenced imports and exports, national investment and savings, gross national and domestic product, and the balance of payments. It specifically examines the degree to which stabilization has reformed agriculture and industry and has improved the relationship between the public and private sectors. A brief introduction to the Indian economy is given, and India's basic economic controls are reviewed. These include the government's national budget and its regulation of prices, production, investment, interest rates, and credit allocation. Also discussed are recent trends in investment and public spending.
