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Trade Strategy, Investment, and Exports : Another Look at East Asia

Rodrik, Dani - 2021

The export booms in South Korea and Taiwan starting in the early 1960s are anomalous when compared with later export … in investment. This paper offers an argument and a formal model to suggest that exports in East Asia may have been driven … exports and imports. Moreover, this could happen with a relatively small change in the relative price of exportables …

Persistent link: https://www.econbiz.de/10013217208

Trade and Industrial Policy Reform in Developing Countries : A Review of Recent Theory and Evidence

Rodrik, Dani - 2021

This paper reviews recent theory and evidence on trade and industrial policy reform in developing countries. First, the theoretical and empirical basis of the rationales for policy reform are discussed. Next, two sources of heterodoxy are identified and evaluated: (a) the East Asian experience...

Persistent link: https://www.econbiz.de/10013217938

The Rush to Free Trade in the Developing World : Why so Late? Why Now? Will it Last?

Rodrik, Dani - 2022

This paper asks why developing country policymakers have been so reluctant to undertake trade reform until the 1980s, and why many of them have embraced open trade policies so wholeheartedly since then. To answer these questions, the paper develops a heuristic index of the "political...

Persistent link: https://www.econbiz.de/10013324070

Closing the Technology Gap : Does Trade Liberalization Really Help?

Rodrik, Dani - 2004

A common theme in discussions of trade reform is the possibility of improved technical efficiency following trade liberalization, This paper presents a conceptual analysis of the likely linkages between trade regimes and technical efficiency. Three sets of arguments, having to do with...

Persistent link: https://www.econbiz.de/10014089272

Is Trade Good or Bad for the Environment? Sorting Out the Causality

Frankel, Jeffrey A.; Rose, Andrew Kenan - 2021

What is the effect of trade on a country's environment, for a given level of GDP? Some have observed an apparent positive correlation between openness to trade and measures of environmental quality. But this could be due to endogeneity of trade, rather than causality. This paper uses exogenous...

Persistent link: https://www.econbiz.de/10013215340

Global Transmission of Interest Rates : Monetary Independence and Currency Regime

Frankel, Jeffrey A.; Schmukler, Sergio L.; Servén, Luis - 2021

Using a large sample of developing and industrialized economies during 1970-1999, this paper explores whether the choice of exchange rate regime affects the sensitivity of local interest rates to international interest rates. In most cases, we cannot reject full transmission of international...

Persistent link: https://www.econbiz.de/10013216098

Short-Term Capital Flows

Rodrik, Dani; Velasco, Andrés - 2021

We provide a conceptual and empirical framework for evaluating the effects of short-term capital flows. A simple model of the joint determination of the maturity and cost of external borrowing highlights the role played by self-fulfilling crises. The model also specifies the circumstances under...

Persistent link: https://www.econbiz.de/10013216104

No Single Currency Regime is Right for All Countries or at All Times

Frankel, Jeffrey A. - 2021

This essay considers some prescriptions that are currently popular regarding exchange rate regimes: a general movement toward floating, a general movement toward fixing, or a general movement toward either extreme and away from the middle. The whole spectrum from fixed to floating is covered...

Persistent link: https://www.econbiz.de/10013218806

Political vs. Currency Premia in International Real Interest Differentials : a Study of Forward Rates for 24 Countries

Frankel, Jeffrey A.; MacArthur, Alan T. - 2021

Different approaches to quantifying the degree of capital mobility for a cross-section of currencies -- particularly saving-investment correlations and tests of real interest parity - have appeared to show a surprisingly low degree of financial market integration. We use a new data set, forward...

Persistent link: https://www.econbiz.de/10013231589