Globalization and Emerging Issues in Trade Theory and Policy

by Tran-Nam, Binh

ISBN13: 9781846639623

ISBN10: 184663962X

Format: Hardcover

Pub. Date: 2009-03-28

Publisher(s): Emerald Group Pub Ltd

Other versions by this Author

List Price: ~~$185.99~~

Rent Textbook

Select for Price

Add to Cart

There was a problem. Please try again later.

Rent Digital

Online:1825 Days access
Downloadable:Lifetime Access

$209.99

*To support the delivery of the digital material to you, a non-refundable digital delivery fee of $3.99 will be charged on each digital item.

$209.99*

Add to Cart

New Textbook

We're Sorry
Sold Out

Used Textbook

We're Sorry
Sold Out

Buy from our Marketplace starting at $64.66

Summary

This edited volume is a collection of latest research findings on topical issues in international trade theory and policy. The chapters are contributed by well known academic economists around the globe as a tribute to Professor Murray Kemp's 80th birthday. They cover three broad areas of globalization and emerging issues in international trade. The first part of the volume, containing five chapters, deals with trade liberalization and outsourcing. These chapters examine the role of the WTO, trade liberalization as a game under uncertainty, a Chamberlinian Ricardian model, liberalization of government procurements, and outsourcing and import restriction policies. The second part of the volume, also containing five chapters, examines trading clubs and preferential trading agreements. These chapters extend the original Kemp-Wan proposition concerning customs unions in various directions. The final part of the book consists of six chapters on various aspects of trade and aid. These include a review of Kemp's contributions to trade and welfare economics, gains from trade and refusal to trade, increasing returns and oligopoly, tariff policy and foreign economic aid, infrastructure aid and deindustrialization, and environmental regulation and tourism. Book jacket.

List of Contributors	p. v
Introduction	p. xv
Trade Liberalization and Outsourcing	p. 1
The Wto and the World Economy: A Welfare-Theoretic Perspective	p. 3
Introduction	p. 3
Preliminaries: Welfare comparison	p. 4
WTO and FTA	p. 7
Labor and environmental policies	p. 9
Concluding remarks	p. 11
Acknowledgement	p. 13
References	p. 13
Trade Liberalization As a Game of Decision Under Uncertainty	p. 15
Overview	p. 15
The Model	p. 16
The behavioral rules	p. 17
The game of tariff war: Johnson (1953-1954)	p. 18
Tariff reform as a decision problem under uncertainty?	p. 20
Concluding remarks	p. 25
Acknowledgements	p. 27
References	p. 27
Comparative Advantage and Trade Liberalization in a Chamberlinian-Ricardian Model	p. 29
Introduction	p. 29
The model	p. 31
The impact of trade liberalization	p. 33
Acknowledgements	p. 34
References	p. 35
Outsourcing and Import Restriction Policies	p. 37
Introduction	p. 37
The model	p. 39
Intermediate sectors	p. 40
Policies to control outsourcing	p. 44
Welfare of country N	p. 45
Quantitative restriction	p. 45
Variety restriction	p. 48
The tariff policy	p. 51
Concluding remarks	p. 54
Acknowledgement	p. 54
References	p. 54
Liberalization of Government Procurements: Competition From Foreign Firms	p. 57
Introduction	p. 57
The model	p. 60
Domestic firms, foreign firms, and domestic welfare	p. 60
Optimization by individual firms	p. 61
Properties of Nash equilibriums of the lobbying game	p. 63
Properties of equilibrium strategies	p. 65
Entry of a foreign firm	p. 65
Effects of foreign entry on welfare	p. 69
Mean-preserving spreads	p. 71
Concluding remarks	p. 72
Acknowledgement	p. 72
References	p. 73
Trading Clubs and Preferential Trade Agreements	p. 75
Normative Comparisons of Customs Unions and Other Types of Free Trade Association	p. 77
Introduction	p. 77
Analysis	p. 79
Extensions of Theorem 2	p. 81
Non-passive non-members	p. 81
Public goods	p. 82
Summarizing and cautionary remarks	p. 82
Acknowledgements	p. 84
Appendix: The extended Kemp-Wan FTA	p. 84
References	p. 85
A Free Trade Area and Its Neighbor's Welfare: A Revealed Preference Approach	p. 87
Introduction	p. 87
Model	p. 89
Main results	p. 91
Interpretation of the condition for the non-existence of Pareto-improving PTA	p. 94
Government interventions and the effect of a PTA	p. 96
Concluding remarks	p. 97
Acknowledgement	p. 98
References	p. 98
Tariff Adjustments in Preferential Trade Agreements	p. 101
Introduction	p. 102
A symmetric three-country trade model	p. 103
Tariffs and the terms of trade	p. 107
Tariffs and member country welfare	p. 114
Conclusion	p. 118
Acknowledgement	p. 119
References	p. 119
More (Or Less) On Necessarily Welfare-Enhancing Free Trade Areas	p. 121
Introduction	p. 121
The Ohyama-Panagariya-Krishna result	p. 123
The OPK proposition	p. 123
An objection	p. 125
A numerical simulation	p. 130
Background	p. 130
Simulation results	p. 131
Conclusion	p. 136
Acknowledgement	p. 136
Appendix	p. 136
References	p. 137
Pareto-Improving Trading Clubs Without Income Transfers	p. 139
Introduction	p. 139
The model and equilibrium conditions	p. 142
The first main result: Pareto-improving non-discriminatory reform	p. 143
The second main result: Pareto-optimal customs unions without income transfers	p. 146
A diagrammatic exposition	p. 149
Concluding remarks	p. 154
Acknowledgements	p. 155
Proof of Lemma 1	p. 156
Cases of specific tariffs and ad valorem tariffs imposed on all goods	p. 157
Specific tariffs	p. 157
Ad valorem tariffs	p. 160
References	p. 161
Trade and Welfare	p. 163
The Contribution of Murray Kemp to the Discipline of International Trade and Welfare Economics	p. 165
Introduction	p. 165
How Murray Kemp came to economic theory	p. 167
Murray Kemp's major contributions to trade and welfare economics	p. 170
Kemp and welfare economics	p. 170
Kemp and exhaustible and renewable resources	p. 172
Kemp and international trade	p. 173
Kemp as a discipline builder and his contributions to economic methodology	p. 179
Conclusion	p. 185
Acknowledgement	p. 185
References	p. 185
The Gains From Trade and Refusal to Trade	p. 193
Introduction	p. 194
The individual and gains from trade	p. 195
Domestic and foreign trade	p. 196
A Ricardian economy	p. 196
A more general model with asymmetric income sources	p. 196
The feasibility of free-trade consensus	p. 198
The evolutionary case for free trade	p. 199
Political economy and refusal to allow free trade	p. 200
The second-best view	p. 201
Strategic trade policy and rent seeking	p. 201
Trade liberalization	p. 202
Trade diversion: The second-best within political economy	p. 202
International externalities and refusal to trade	p. 203
Other explanations for refusal to trade	p. 205
Conclusions	p. 205
Acknowledgement	p. 206
References	p. 206
A Two-Country Model of International Trade with Increasing Returns and Oligopoly	p. 209
Introduction	p. 209
An autarkic equilibrium	p. 211
Free trade equilibria	p. 214
Trade patterns	p. 219
Gains from trade	p. 220
Concluding remarks	p. 224
Acknowledgements	p. 225
Some properties of the allocation curve	p. 225
The factor price equalization condition	p. 227
References	p. 228
Tariff Policy and Foreign Economic Aid for the Economy with a Monopolistically Competitive Nontraded Industry and Capital Inflow	p. 231
Introduction	p. 232
The model	p. 233
The effects of import tariffs and foreign economic aid	p. 236
Comparative static analysis of the effects of import tariffs and foreign economic aid	p. 236
The welfare effects of import tariff and foreign economic aid	p. 239
Concluding remarks	p. 241
Acknowledgements	p. 242
References	p. 242
Infrastructure Aid and Deindustrialization in Developing Countries	p. 245
Introduction	p. 246
Assumptions and the basic properties of the model	p. 247
Short-term effect of infrastructure investment on production costs	p. 248
Factor prices, price of the nontraded good, and the exchange rate	p. 248
Infrastructure aid to the export sector	p. 250
Infrastructure aid to the import sector	p. 251
Infrastructure aid to the nontraded good sector	p. 251
Infrastructure aid, welfare, and deindustrialization	p. 252
Infrastructure aid and national income	p. 252
Sectoral outputs and deindustrialization	p. 255
Infrastructure aid to the export sector and deindustrialization	p. 257
Infrastructure aid to the import sector and deindustrialization	p. 260
Infrastructure aid to the nontraded good sector and deindustrialization	p. 263
Concluding remarks	p. 265
References	p. 266
Environmental Regulations for a Small Open Economy with Tourism	p. 269
Introduction	p. 270
A model	p. 271
Optimal tariff and pollution tax	p. 274
Tariffs	p. 275
Pollution taxes	p. 277
Jointly optimal tariffs and pollution taxes	p. 278
Simulations	p. 279
Specifications	p. 279
Calibrations	p. 280
Simulations	p. 281
Conclusions	p. 282
Acknowledgements	p. 282
References	p. 283
Subject Index	p. 285
Table of Contents provided by Ingram. All Rights Reserved.

Globalization and Emerging Issues in Trade Theory and Policy

Rent Textbook

Rent Digital

New Textbook

Used Textbook

How Marketplace Works:

Summary

Table of Contents

Digital License