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Rising Income Inequality; Technology, o+L3904r Trade and Financial Globalization?
Papageorgiou, Chris; Lall, Subir; Jaumotte, Florence - International Monetary Fund (IMF) - 2008
We examine the relationship between trade and financial globalization and the rise in inequality in most countries in recent decades. We find technological progress as having a greater impact than globalization on inequality. The limited overall impact of globalization reflects two offsetting...
Persistent link: https://www.econbiz.de/10005263792
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Commodity Price Volatility and the Sources of Growth
International Monetary Fund (IMF); International … - 2012
This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital acquisition. We use the standard system GMM approach as well as...
Persistent link: https://www.econbiz.de/10009650613
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Should African Monetary Unions Be Expanded? An Empirical Investigation of the Scope for Monetary Integration in Sub-Saharan Africa
Debrun, Xavier; Pattillo, Catherine A.; Masson, Paul R. - International Monetary Fund (IMF) - 2010
This paper develops a full-fledged cost-benefit analysis of monetary integration, and applies it to the currency unions actively pursued in Africa. The benefits of monetary union come from a more credible monetary policy, while the costs derive from real shock asymmetries and fiscal disparities....
Persistent link: https://www.econbiz.de/10008560420
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Endowment Versus Finance; A Wooden Barrel Theory of International Trade
Ju, Jiandong; Wei, Shang-Jin - International Monetary Fund (IMF) - 2005
This paper develops a theory of international trade in which financial development and factor endowments jointly determine comparative advantage. We apply the financial contract model of Holmstrom and Tirole (1998) to the Heckscher-Ohlin-Samuelson (HOS) model in which firms' dependence on...
Persistent link: https://www.econbiz.de/10005826674
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On the Pattern of Currency Blocs in Africa
Yehoue, Etienne B. - International Monetary Fund (IMF) - 2005
This paper seeks to elucidate the debate over currency union in Africa. The paper examines whether empirical investigation points to the gradual emergence of currency blocs. Based on the historical data on inflation, trade, and the comovements of prices and outputs, I argue that the emergence of...
Persistent link: https://www.econbiz.de/10005769051
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How Has Nafta Affected the Mexican Economy? Review and Evidence
Kose, M. Ayhan; Towe, Christopher M.; Meredith, Guy - International Monetary Fund (IMF) - 2004
This paper provides a comprehensive assessment of the impact of NAFTA on growth and business cycles in Mexico. The effect of the agreement in spurring a dramatic increase in trade and financial flows between Mexico and its NAFTA partners, and its impact on Mexican economic growth and business...
Persistent link: https://www.econbiz.de/10005599680
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Technological Adaptation, Trade, and Growth
Chong, Alberto; Zanforlin, L. - International Monetary Fund (IMF) - 2000
This paper extends Grossman and Helpman’s seminal work (1991), and presents an endogenous growth model where innovations created in a high-tech sector may be assimilated or adapted by a low-tech sector. Applying a simple Heckscher-Ohlin framework, the effects of technological diffusion are...
Persistent link: https://www.econbiz.de/10005599706
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Public Infrastructures, Public Consumption, and Welfare in a New-Open-Economy-Macro Model
Ganelli, Giovanni; Tervala, Juha - International Monetary Fund (IMF) - 2007
reduces domestic welfare in the short run because the temporary gains from higher productivity do not compensate domestic … increase, while foreign residents suffer short-run welfare losses but benefit from welfare gains in the long run. This analysis …
Persistent link: https://www.econbiz.de/10005769025
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Does Import Protection Discourage Exports?
Tokarick, Stephen - International Monetary Fund (IMF) - 2006
This paper points out that while many developing countries seek to increase their export earnings, they have not embraced fully the notion that their own pattern of import protection hurts their export performance. The paper quantifies the extent to which import protection acts as a tax on a...
Persistent link: https://www.econbiz.de/10005599612
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Free Trade Areas and Rules of Origin; Economics and Politics
Panagariya, Arvind; Duttagupta, Rupa - International Monetary Fund (IMF) - 2003
Incorporating intermediate inputs into a small-union general-equilibrium model, this paper first develops the welfare … viability of Free Trade Agreements (FTAs). Two interesting outcomes are derived. First, a welfare reducing FTA that was rejected … in the absence of the ROO becomes feasible in the presence of these rules. Second, a welfare improving FTA that was …
Persistent link: https://www.econbiz.de/10005605069