Dynamic Issues in Commercial Policy Analysis

, by Edited by Richard E. Baldwin , Joseph F. Francois

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ISBN: 9780521159517 | 0521159512
Cover: Paperback
Copyright: 4/14/2011

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First published in 1999, Dynamic Issues in Commercial Policy Analysis focuses on the explicit specification of dynamic mechanisms in the formal analytics of trade models. A wide range of modelling approaches is employed to investigate an even wider range of policy issues, with an overall objective of further extension of the basic conceptual framework of applied commercial policy analysis in the direction of dynamic issues and applications. Professors Baldwin and Francois and their contributors emphasise methods for the analysis of interactions between commercial policy and leading policy issues, including investment performance, economic growth and innovation, the location of industry, migration, and the environment.

List of figures	p. xi
List of tables	p. xiv
Preface	p. xvii
List of conference participants	p. xviii
Introduction	p. 1
Neoclassical growth and trade	p. 1
Endogenous growth and trade	p. 7
Other dynamic issues	p. 10
Transition dynamics and trade policy reform in developing countries	p. 14
Introduction	p. 14
Empirical studies of trade and growth	p. 16
Trade reforms and steady-state effects	p. 26
Policy reform and transitional effects	p. 28
Concluding observations	p. 36
Discussion	p. 41
Putting growth effects in computable equilibrium trade models	p. 44
Introduction	p. 44
Analytical considerations	p. 46
Illustration of key trade and growth links	p. 55
Practical considerations	p. 68
The simulation model	p. 71
Summary and concluding remarks	p. 76
Appendix: Transitional dynamics with Tobin's q	p. 77
Discussion	p. 85
Innovation, capital accumulation, and economic transition	p. 89
Introduction	p. 89
A growth model of the world economy	p. 93
Long-run growth	p. 102
Calibration to Western and CEEC countries	p. 106
Transition path	p. 108
The role of policy	p. 114
Conclusions	p. 123
More on calibration	p. 125
Data sources	p. 132
Multinational production, skilled labour, and real wages	p. 138
Introduction	p. 138
Model structure	p. 141
Forces at work	p. 144
Entry of multinationals as a result of investment liberalization: countries differ in relative endowments	p. 147
Entry of multinationals as a result of investment liberalization: countries differ in size (absolute endowments)	p. 151
The real wage of skilled labour	p. 155
Trade costs	p. 157
Comparative steady-state analysis	p. 160
Conclusions	p. 167
Discussion	p. 173
Economic policy and the manufacturing base: hysteresis in location	p. 177
Introduction	p. 177
The model	p. 179
One industry, two countries	p. 181
Energy taxation in the chemical industry: a calibrated example	p. 189
Cournot competition	p. 193
Conclusions	p. 194
Discussion	p. 196
Trade liberalization and investment in a multilateral framework	p. 202
Introduction	p. 202
Accumulation theory	p. 203
A numerical example: the Uruguay Round	p. 209
Conclusions	p. 220
Appendix: A dual treatment of accumulation effects	p. 221
Discussion	p. 223
Investment creation and investment diversion: simulation analysis of the Single Market programme	p. 228
Introduction	p. 228
The prima facie case for investment diversion	p. 229
An illustrative theoretical model	p. 238
The simulation model	p. 245
Results	p. 251
Summary and concluding remarks	p. 263
Discussion	p. 266
Blueprints, spillovers, and the dynamic gains from trade liberalization in a small open economy	p. 269
Introduction	p. 269
The model	p. 272
Benchmark data and calibration	p. 278
Model results	p. 282
Modelling adjustment costs	p. 304
Calibration of the IRTS submodel	p. 306
Equilibrium conditions	p. 309
Discussion	p. 316
Trade policy and North-South migration	p. 323
Introduction	p. 323
Background	p. 325
Theoretical considerations	p. 328
Numerical simulations	p. 336
Summary	p. 338
Appendix: Migration and trade policy - numerical examples	p. 339
Long-term modelling of trade and environmental linkages	p. 345
Introduction	p. 345
The basic model	p. 347
Policy interventions for trade and pollution reform	p. 349
An application to Indonesia	p. 354
Conclusions	p. 358
Appendix: A summary overview of the Indonesian model	p. 360
Labour markets and dynamic comparative advantage	p. 367
Introduction	p. 367
The basic model	p. 368
An application to China	p. 372
Conclusions and extensions	p. 376
Index	p. 379
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Dynamic Issues in Commercial Policy Analysis

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