Are International Trade and Factor Mobility Substitutes?
Author | : Kar-yiu Wong |
Publisher | : |
Total Pages | : 74 |
Release | : 1984 |
Genre | : Commerce |
ISBN | : |
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Author | : Kar-yiu Wong |
Publisher | : |
Total Pages | : 74 |
Release | : 1984 |
Genre | : Commerce |
ISBN | : |
Author | : |
Publisher | : World Bank Publications |
Total Pages | : 11 |
Release | : |
Genre | : |
ISBN | : |
Author | : William J. Collins |
Publisher | : |
Total Pages | : 72 |
Release | : 1997 |
Genre | : Capital movements |
ISBN | : |
Trade theorists have come to understand that their theory is ambiguous on the question: Are trade and factor flows substitutes? While this sounds like an open invitation for empirical research, hardly any serious econometric work has appeared in the literature. This paper uses history to fill the gap. It treats the experience of the Atlantic economy between 1870 and 1940 as panel data with almost seven hundred observations. When shorter run business cycles and long swings' are extracted from the panel data, substitutability is soundly rejected. When secular relationships are extracted over longer time periods and across trading partners, once again substitutability is soundly rejected. Finally, the paper explores immigration policy and finds that policy makers never behaved as if they viewed trade and immigration as substitutes.
Author | : Giovanni Facchini |
Publisher | : |
Total Pages | : 196 |
Release | : 2001 |
Genre | : |
ISBN | : |
Author | : Linda S. Goldberg |
Publisher | : |
Total Pages | : 46 |
Release | : 1999 |
Genre | : Capital movements |
ISBN | : |
Foreign Direct Investment (FDI) has been growing rapidly, at a pace far exceeding the growth in international trade. Thus, a full understanding of the relationship between trade in goods and FDI is important for obtaining a complete picture of the extent and sources of international linkages. We investigate whether FDI serves as a complement to trade or a substitute for trade based on the effects identified by the Rybczynski theorem whereby an increase in a factor of production used intensively in one sector affects production both in that sector and in other sectors. Using detailed data on bilateral capital and trade flows between the United States and individual Latin American countries, we examine the linkages between FDI into particular sectors of Latin American economies and the net exports of those and other manufacturing sectors. We find that FDI from the United States can lead to significant, and varied, shifts in the composition of activity in many Latin American countries and across many manufacturing industries.
Author | : J. Peter Neary |
Publisher | : |
Total Pages | : 48 |
Release | : 1995 |
Genre | : Capital movements |
ISBN | : |
Author | : Giancarlo Gandolfo |
Publisher | : Springer Science & Business Media |
Total Pages | : 669 |
Release | : 2013-08-13 |
Genre | : Business & Economics |
ISBN | : 3642373143 |
In the present text the author deals with both conventional and new approaches to trade theory and policy, treating all important research topics in international economics and clarifying their mathematical intricacies. The textbook is intended for undergraduates, graduates and researchers alike. It addresses undergraduate students with extremely clear language and illustrations, making even the most complex trade models accessible. In the appendices, graduate students and researchers will find self-contained treatments in mathematical terms. The new edition has been thoroughly revised and updated to reflect the latest research on international trade.
Author | : Austan Goolsbee |
Publisher | : University of Chicago Press |
Total Pages | : 259 |
Release | : 2022-03-25 |
Genre | : Business & Economics |
ISBN | : 022680545X |
A calculation of the social returns to innovation /Benjamin F. Jones and Lawrence H. Summers --Innovation and human capital policy /John Van Reenen --Immigration policy levers for US innovation and start-ups /Sari Pekkala Kerr and William R. Kerr --Scientific grant funding /Pierre Azoulay and Danielle Li --Tax policy for innovation /Bronwyn H. Hall --Taxation and innovation: what do we know? /Ufuk Akcigit and Stefanie Stantcheva --Government incentives for entrepreneurship /Josh Lerner.
Author | : Maurice Schiff |
Publisher | : |
Total Pages | : 16 |
Release | : 2006 |
Genre | : Free trade |
ISBN | : |
"Mundell and Markusen each wrote classic papers on the relationship between trade and factor movement. Mundell showed that substitution holds in the Heckscher-Ohlin model. Markusen challenged the substitution result and showed in five different models that removing barriers to factor movement results in complementarity under free trade, identical factor endowments, and a change in any one of the other assumptions underlying the Heckscher-Ohlin model. The author generalizes Markusen's analysis by considering the liberalization of barriers to factor movement under any non-negative level of protection, and liberalizing trade barriers under factor mobility. He shows that (1) substitution holds at high protection levels, (2) complementarity holds at low protection levels, and (3) either substitution or complementarity hold under large tariff changes."--World Bank web site.
Author | : Miroslav Jovanovic |
Publisher | : Taylor & Francis |
Total Pages | : 834 |
Release | : 1998 |
Genre | : Business & Economics |
ISBN | : 9780415166737 |