This paper estimates aggregate short-run and long-run import demand functions for the Philippines using data for the period 1960-2006. Results indicate that import demand and its determinants are cointegrated in the long run. The import demand with respect to expenditure components is inelastic...

This paper estimates aggregate short-run and long-run import demand functions for the Philippines using data for the period 1960-2006. Results indicate that import demand and its determinants are cointegrated in the long run. The import demand with respect to expenditure components is inelastic...

The paper reviews the cost and benefits of globalization (i.e. greater integration of national and global economies) from the perspective of India. It argues that India’s hesitant and reluctant globalization had a significant cost in terms of forgone growth, delay in the eradication of...

A reduction of impediments to international flows of goods, capital and professional labor is thought to raise the economic costs of programs by the nation state (and labor unions) to redistribute income to the poor and to provide economic security. But some of the more politically and...

The paper shows that, under certain conditions, international technical assistance enriches the recipient country through environmental clean up and terms of trade gain. By contrast, it leaves the donor country worse off through terms of trade loss. This is shown by means of a two-country...

It is shown in a simple model with 'export-processing zone' that exogenous inflow of foreign capital must increase welfare of an economy importing capital-intensive goods and following protectionary policy. It should also be added that this welfare effect depends on reasonable capital-labour...

The functional distribution of income can be affected by price changes in international markets, by changes in technology which may be biased in factor saving, and by reductions in cost which allow vertically -integrated production processes to be fragmented and spread over several countries....

In order to explain the price increase of non-traded goods in the face of trade and trade liberalization, this paper develops a simple model of non-traded goods with a tariff and analyzes how trade, trade policy, and changes within the non-traded sector influence the price of the non-traded...

Analysis of comparative advantage in export of agricultural products has received little attention on the ground that agricultural products are intensive in the use of natural resources and thus the pattern of trade in such products depends to a considerable extent on the not easily quantifiable...

This paper shows that under certain conditions protection given to the industrial sector (by a tariff, for instance) which depends on the externality generated by the agricultural sector may not achieve its desired objectives and may, in the short run, cause instability in the adjustment...