Does A Regional Trade Agreement Lessen Or Exacerbate Growth Volatility An Empirical Investigation
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| Author | : Mr.Kangni Kpodar |
| Publisher | : International Monetary Fund |
| Total Pages | : 37 |
| Release | : 2015-07-28 |
| Genre | : Business & Economics |
| ISBN | : 1513560956 |
This paper assesses how regional trade agreements (RTAs) impact growth volatility on a worldwide sample of 170 countries with data spanning the period 1978-2012. Notwithstanding concerns that trade openness through RTAs can heighten exposure to shocks, in particular when it leads to increased product specialization, RTAs through enhanced policy credibility, improved policy coordination, and reduced risk of conflicts can ease growth volatility. Empirical estimations suggest the benefits outweigh the costs as RTAs are consistently associated with lower growth volatility, after controlling for trade openness and other determinants of growth volatility. Furthermore, regression results also suggest that countries that are more prone to shocks are more likely to join a RTA, in particular with countries with relatively less volatile growth, additionally enhancing the stabilization effect.
| Author | : Joseph P. Daniels |
| Publisher | : Routledge |
| Total Pages | : 630 |
| Release | : 2017-10-25 |
| Genre | : Business & Economics |
| ISBN | : 1351998293 |
This introduction to all aspects of international economics, business and finance is the clearest guide available to the economics of the world we live in. Written in a highly engaging style, packed full of up-to-the minute, real-world case studies and pitched at introductory level, the book does an expert job of drawing students in and will leave them equipped with a comprehensive toolkit of methods and essential facts. Now in its fourth edition, Global Economic Issues and Policies reflects continuing changes in the world economy and in the analysis of international economics. Chapter introductions, pedagogy and data have all been thoroughly updated throughout, including the addition of a new ‘Issues & Policies Notebook’ feature. Key topics for expansion and revision include: Evolution of Comparative Advantage Import Quotas and Subsidies Services in Regional and Multilateral Trade Agreements Balance of Payments Accounting Unconventional Central Bank Policies Territorial versus Worldwide Taxation and "Tax Inversions" The role of Foreign Exchange Markets and Exchange-Rate Arrangements Public Policy Issues in International Money and Finance The text is suitable for any introductory module in international economics and business, whether taught as part of an economics, business or international studies program. It is also the ideal MBA level introduction to the global economy.
| Author | : Alexei Kireyev |
| Publisher | : Cambridge University Press |
| Total Pages | : 458 |
| Release | : 2017-12-14 |
| Genre | : Business & Economics |
| ISBN | : 110837316X |
Trade multilateralism in the twenty-first century faces a serious test as weakness in the global economy and fast-paced technological changes create a challenging environment for world trade. This book examines how an updated and robust, rules-based multilateral framework, anchored in the WTO, remains indispensable to maximizing the benefits of global economic integration and to reviving world trade. By examining recent accessions to the WTO, it reveals how the growing membership of the WTO has helped to support domestic reforms and to strengthen the rules-based framework of the WTO. It argues that the new realities of the twenty-first century require an upgrade to the architecture of the multilateral trading system. By erecting its 'upper floors' on the foundation of existing trade rules, the WTO can continue to adapt to a fast-changing environment and to maximize the benefits brought about by its ever-expanding membership.
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 18 |
| Release | : 2015-09-25 |
| Genre | : Business & Economics |
| ISBN | : 1513551752 |
The September 2015 issue of the IMF Research Bulletin covers a range of research topics. The Research Summaries featured in this issue are “Lower for Longer: Neutral Rates in the United States” (Andrea Pescatori and Jarkko Turunen) and “Economic Principles for Resource Revenue Management” (Anthony J. Venables and Samuel Wills). The Q&A article looks at “Seven Questions on Financing for Development” (Amadou Sy) and the global development agenda. The issue also includes special announcements on the 2015 Annual Research Conference and the 2015 IMF Annual Report, as well as new IMF publications. Readers will also find a link to a top-viewed article from the “IMF Economic Review”—the IMF’s official research journal.
| Author | : Gbadebo Odularu |
| Publisher | : Springer |
| Total Pages | : 166 |
| Release | : 2017-01-26 |
| Genre | : Business & Economics |
| ISBN | : 3319455699 |
This book provides a comprehensive analysis of South-South regional trade issues, with a particular focus on sustainably fostering Africa’s regional trade agenda. It examines the extent to which South-South regional trade agreements (RTAs) have contributed toward enhancing regional integration and economic expansion in Africa in particular, and in the South in general. The authors recommend new conceptual frameworks, appropriate initiatives, and workable policy recipes to help South-South RTAs enhance Africa’s economic transformation trajectory. The book underscores the geo-politics, as well as the opportunities and challenges that emerging economies now represent for Africa in the context of South-South regional trade policy. Readers will learn how Africa can strengthen its regional trade game by securing and building on the positive outcomes of South-South RTAs.
| Author | : Mr.Kangni R Kpodar |
| Publisher | : International Monetary Fund |
| Total Pages | : 35 |
| Release | : 2019-03-25 |
| Genre | : Business & Economics |
| ISBN | : 1498304907 |
This paper contributes to the literature by looking at the possible relevance of the structure of the financial system—whether financial intermediation is performed through banks or markets—for macroeconomic volatility, against the backdrop of increased policy attention on strengthening growth resilience. With low-income countries (LICs) being the most vulnerable to large and frequent terms of trade shocks, the paper focuses on a sample of 38 LICs over the period 1978-2012 and finds that banking sector development acts as a shock-absorber in poor countries, dampening the transmission of terms of trade shocks to growth volatility. Expanding the sample to 121 developing countries confirms this result, although this role of shock-absorber fades away as economies grow richer. Stock market development, by contrast, appears neither to be a shock-absorber nor a shock-amplifier for most economies. These findings are consistent across a range of econometric estimators, including fixed effect, system GMM and local projection estimates.
| Author | : Aaditya Mattoo |
| Publisher | : World Bank Publications |
| Total Pages | : 768 |
| Release | : 2020-09-23 |
| Genre | : Political Science |
| ISBN | : 1464815542 |
Deep trade agreements (DTAs) cover not just trade but additional policy areas, such as international flows of investment and labor and the protection of intellectual property rights and the environment. Their goal is integration beyond trade or deep integration. These agreements matter for economic development. Their rules influence how countries (and hence, the people and firms that live and operate within them) transact, invest, work, and ultimately, develop. Trade and investment regimes determine the extent of economic integration, competition rules affect economic efficiency, intellectual property rights matter for innovation, and environmental and labor rules contribute to environmental and social outcomes. This Handbook provides the tools and data needed to analyze these new dimensions of integration and to assess the content and consequences of DTAs. The Handbook and the accompanying database are the result of collaboration between experts in different policy areas from academia and other international organizations, including the International Trade Centre (ITC), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and World Trade Organization (WTO).
| Author | : International Monetary Fund. Asia and Pacific Dept |
| Publisher | : International Monetary Fund |
| Total Pages | : 63 |
| Release | : 2019-02-05 |
| Genre | : Business & Economics |
| ISBN | : 1484397916 |
This Article IV Consultation discussions with the Republic of Palau focused on ensuring long-term fiscal sustainability, making potential growth more resilient and sustainable, and preserving financial stability and facilitating credit extension. The consultation discussions also highlight that the main economic policy priorities for Palau are to develop a medium-term fiscal framework and strategy to help manage fiscal risks and the expiration of the Compact grants, to raise public investment, to protect social spending, to make growth more resilient and sustainable through other reforms, and to preserve financial stability and integrity. The current fiscal policy approach is based on the legal requirement to maintain a balanced or surplus cash flow for various parts of the budget. While this fiscal policy strategy has resulted in overall budget surpluses and a decline in net debt, the move to a medium-term fiscal framework and strategy would help Palau to address future challenges.
| Author | : Odjo, Sunday |
| Publisher | : Intl Food Policy Res Inst |
| Total Pages | : 224 |
| Release | : 2024-09-03 |
| Genre | : Political Science |
| ISBN | : |
The 2024 AATM investigates critical issues related to African agricultural trade. As in previous editions of the report, we have developed a database that corrects discrepancies in trade flow values, as reported by importing and exporting countries, as the basis for analyzing Africa’s international, domestic, and regional economic community (REC) trade. Given the pressing need to address climate change and curb greenhouse gas emissions, this year’s AATM takes an in-depth look at the relationship between climate change, water use, and emissions and African agricultural trade.
| Author | : Daniel Lederman |
| Publisher | : World Bank Publications |
| Total Pages | : 153 |
| Release | : 2012-06-18 |
| Genre | : Business & Economics |
| ISBN | : 0821384910 |
Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products—that only incidentally favor some sectors over others.
