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overemphasized. Many studies have shown a strong positive impact of trade on economic growth across developed and the emerging market …. However, very little is known about the simultaneous effect of trade and investment on growth in SSA when institutional … control variables are introduced in the model. Therefore, this study examines the role of trade and investment in the growth …
Persistent link: https://www.econbiz.de/10012023952
The role of regulatory quality as one of the so-called deep determinants of growth has emerged as an important issue in … economic research in the past 20 years. The positive or negative growth effects of a countryś regulatory framework are …. Therefore, the two potential determinants to growth might be interlinked. So far there is very little empirical evidence on the …
Persistent link: https://www.econbiz.de/10011298539
We build and estimate a structural dynamic general equilibrium model of growth and trade. Trade affects growth through …, growth affects trade, directly through changes in country size and indirectly through altering the incidence of trade costs …. Theory translates into an intuitive econometric system that identifies the causal impact of trade on income and growth, and …
Persistent link: https://www.econbiz.de/10011298529
demand and growth. As a result, the collapse of exports to the US and other industrialized countries during the global … financial and economic crisis has sharply curtailed gross domestic product (GDP) growth across the region. The emergence of the … an additional source of demand and growth. The central objective of this paper is to use vector autoregression (VAR …
Persistent link: https://www.econbiz.de/10003899275
Long-run cross-country price data exhibit a puzzle. Today, richer countries exhibit higher price levels than poorer countries, a stylized fact usually attributed to the "Balassa-Samuelson" effect. But looking back fifty years, or more, this effect virtually disappears from the data. What is...
Persistent link: https://www.econbiz.de/10014070762
can neoclassical trade theory take us in explaining this pattern? We estimate the production side of the Heckscher …
Persistent link: https://www.econbiz.de/10010221543
We propose a quantitative framework for the analysis of industrialization in which specialization in manufacturing or … agriculture is driven by comparative advantage and non-homothetic preferences. Countries are integrated through trade but trade is … better fit to cross-sectional data on manufacturing shares than frameworks which ignore the role of trade costs or non …
Persistent link: https://www.econbiz.de/10009621748
We propose a normative assessment of the value of international trade that is rooted in production theory and embeds … Ricardo's 1817 formulation of the gains from trade into a multi-factor general equilibrium framework. Without imposing strong … the magnitude and the sources of the gains from trade. A high quality data set on product and task-specific factor …
Persistent link: https://www.econbiz.de/10009570570
We carry out an indirect inference test of two versions of a computable general equilibrium (CGE) model of world trade …. One of these, the ‘classical’ model,is well-known as the Heckscher-Ohlin-Samuelson model of world trade, in which … countries trade homogeneous products in world markets and produce according to their comparative advantage as determined by …
Persistent link: https://www.econbiz.de/10012602338
With global specialization and trade, countries make directly but also indirectly use of the environment via traded … the role of FDI flows for the emergence of the ecological specialization pattern of production and trade. … the trade pattern, i.e. whether the net export of the Ecological Footprint, embodied in the traded goods, depends on the …
Persistent link: https://www.econbiz.de/10011637772