This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of the United States, the euro area, and Japan in the emergence and evolution of today's global trade imbalances. Simulation results based on a dynamic general equilibrium model of...

Intro -- Contents -- I. INTRODUCTION: COMPARATIVE ADVANTAGE -- II. GROWING INTEREST IN THE REGION -- III. COPING WITH THE OBSTACLES TO THE REGION'S DEVELOPMENT -- IV. A FEW IDEAS FOR THE DEVELOPMENT OF THE REGION -- V. CONCLUSIONS AND RECOMMENDATIONS -- References.