Modelling The Extensive Margin Of World Trade
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| Author | : Ana Fernandes |
| Publisher | : International Monetary Fund |
| Total Pages | : 66 |
| Release | : 2018-12-07 |
| Genre | : Business & Economics |
| ISBN | : 1484386175 |
The Melitz model highlights the importance of the extensive margin (the number of firms exporting) for trade flows. Using the World Bank’s Exporter Dynamics Database (EDD) featuring firm-level exports from 50 countries, we find that around 50 percent of variation in exports is along the extensive margin—a quantitative victory for the Melitz framework. The remaining 50 percent on the intensive margin (exports per exporting firm) contradicts a special case of Melitz with Pareto-distributed firm productivity, which has become a tractable benchmark. This benchmark model predicts that, conditional on the fixed costs of exporting, all variation in exports across trading partners should occur on the extensive margin. We find that moving from a Pareto to a lognormal distribution allows the Melitz model to match the role of the intensive margin in the EDD. We use likelihood methods and the EDD to estimate a generalized Melitz model with a joint lognormal distribution for firm-level productivity, fixed costs and demand shifters, and use “exact hat algebra” to quantify the effects of a decline in trade costs on trade flows and welfare in the estimated model. The welfare effects turn out to be quite close to those in the standard Melitz-Pareto model when we choose the Pareto shape parameter to fit the average trade elasticity implied by our estimated Melitz-lognormal model, although there are significant differences regarding the effects on trade flows.
| Author | : Marc Bacchetta |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2012 |
| Genre | : Political Science |
| ISBN | : 9789287038128 |
Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development
| Author | : Dongyeol Lee |
| Publisher | : International Monetary Fund |
| Total Pages | : 24 |
| Release | : 2019-05-24 |
| Genre | : Business & Economics |
| ISBN | : 1498315658 |
Export structure is less diversified in low-income countries (LICs) and especially small states that face resource constraints and small economic size. This paper explores the potential linkages between export structure and economic growth and its volatility in LICs and small states, using a range of indices of export concentration differing in the coverage of industries. The empirical analysis finds that export diversification may promote economic growth and reduce economic volatility in these countries. Furthermore, the analysis demonstrates that the economic benefits of export diversification differ by country size and income level—there are bigger benefits for relatively larger and poorer countries within the group of LICs and small states.
| Author | : Co?kun Özer, Ahu |
| Publisher | : IGI Global |
| Total Pages | : 291 |
| Release | : 2021-06-25 |
| Genre | : Business & Economics |
| ISBN | : 1799883167 |
International trade is vital in today’s world; international trade can be affected by a number of issues such as terrorism, economic crises, and pandemics such as COVID-19. It is crucial to understand the impact these global issues have on international trade and what happens to trade when global issues arise. A comprehensive guide of these issues is needed to provide background and understanding about international trade and its relationship with global issues. Global issues occasionally dominate a continuing theme of the international globalized world: global crises, war, security issues, global pandemics such as COVID-19, and trade wars. Global cooperation is required to solve such problems. Economically intellectual thinking will enable the development of guiding policies in solving these global problems. In this book, the effects of global issues on international trade will be evaluated, and policy recommendations will be made for the solution of the global issues. Impact of Global Issues on International Trade is a critical reference source that uses analytic research to analyze the effects of global economic and financial crises as well as global health crises and their impact on international trade. Pandemics such as the COVID-19 pandemic, the global economic crisis, and trade wars are discussed, and political suggestions are made to mitigate negative impacts. Covering a wide range of topics such as financial fragility and trade fairs, it is ideal for trade specialists, policymakers, government officials, managers, executives, economists, academicians, researchers, students, and industry professionals.
| Author | : Robert C. Feenstra |
| Publisher | : University of Chicago Press |
| Total Pages | : 603 |
| Release | : 2010-03-10 |
| Genre | : Business & Economics |
| ISBN | : 0226239721 |
In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms. Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.
| Author | : Robert Mitchell Stern |
| Publisher | : World Scientific |
| Total Pages | : 531 |
| Release | : 2012 |
| Genre | : Business & Economics |
| ISBN | : 9814383473 |
Quantitative Analysis of Newly Evolving Patterns of International Trade offers a variety of perspectives on new forms and developments of international trade and related activities for Japan, the United States, China, and some other important trading countries, to develop new methods and data for measuring the factor contents of emerging new modes of international trade. Such methods and data are crucially important for evaluating impacts of the new modes on factor markets in the United States, Japan, and other major trading countries, and also for forecasting the future development of world trade and foreign direct investment (FDI), evaluating welfare gains from trade, estimating impacts of free trade agreements, and designing effective trade and FDI policies.
| Author | : Jeffrey A. Frankel |
| Publisher | : Peterson Institute |
| Total Pages | : 392 |
| Release | : 1997 |
| Genre | : Business & Economics |
| ISBN | : 9780881322026 |
Covers trends from 1957 to 1995.
| Author | : Mary E. Burfisher |
| Publisher | : Cambridge University Press |
| Total Pages | : 443 |
| Release | : 2016 |
| Genre | : Business & Economics |
| ISBN | : 1107132207 |
The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.
| Author | : Z. Drabek |
| Publisher | : Springer |
| Total Pages | : 373 |
| Release | : 2009-12-18 |
| Genre | : Business & Economics |
| ISBN | : 0230250823 |
Do countries benefit from their Membership in the WTO. This book addresses this question and examines the role of the WTO in the process of economic development of emerging markets and other developing countries.
| Author | : Nagwa Riad |
| Publisher | : International Monetary Fund |
| Total Pages | : 87 |
| Release | : 2012-01-15 |
| Genre | : Business & Economics |
| ISBN | : 1463973101 |
Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.
