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Innovation and international trade are two important drivers of economic growth. These two activities perform differently under different types of market competition.This book -- a collection of several important research publications by Larry D Qiu -- discusses innovation and international trade, separately and jointly, under imperfect competition. Through exploring these topics, they offer different perspectives on these issues. The selected works also provide clear and strong implications on trade policies and intellectual property rights protection.
The G20 (or Group of Twenty) is an international body established to manage the global economy, and for the first time, includes developing countries. The G20, unlike the G7, must take into consideration the objectives of developing countries if it is to play a credible role in the management of the world economy.This refrence set examines the issues facing developing countries and studies the role that the G20 can play in light of continuing challenges and objectives to meet the UN's Sustainable Development Goals (SDG).
In an era when trade and currency wars threaten to end a long-standing period of growing trade and capital flows, the economics of international trade, investment and finance have become more important than ever. This three-volume Encyclopedia provides a comprehensive and up-to-date overview of the theory and evidence on the causes and consequences of global trade, and the theory and evidence on the economics of international trade, financial and monetary transactions.It provides, first of all, a comprehensive set of entries explaining the key theoretical concepts in international economics as well as the latest empirical and simulation techniques used in the academic literature. In addition, various entries present the history behind -- and the controversies surrounding -- the core current global trade and monetary institutions, from the World Trade Organization to the European Monetary Union.The three volumes also provide a serious discussion of today's central policy debates, including the impact of globalization on employment, wages and income distribution, the imposition of controls on international financial flows, the effects of tariffs and protectionist policies, fixed versus flexible exchange rate regimes, and the role of the multinational enterprise on global growth, technical change and income distribution, among many others.
Globalisation is considered a success story. Following the fall of the Berlin Wall and the dissolution of the political divides between East and West Germany, nothing seemed to stand in the way of peaceful cooperation between people everywhere. Under the precepts of economic liberalism, by removing institutional obstacles to international trade and capital flows, a spontaneous global order would emerge, and the dream of a world populated by free and prosperous global citizens would eventually come true.But in the wake of the worldwide financial crisis that began in 2007-2008, in the world of an ongoing Euro-Crisis, Trump and Brexit, it has become apparent that the great liberal project has failed. Neoclassical liberal economic theory has shown itself to be fundamentally incapable of explaining the dynamics of a market economy and in guiding economic policy in developed as well as in developing countries.Given the continuing dominance of that discredited theory today, the world lacks a viable conceptual framework for global cooperation among nations, and appropriate national economic policies. With this book, the authors show how such a framework can be built on the basis of a modern and empirically sound economic theory.
This book is a collection of important reference works by Bruce Blonigen on foreign direct investment (FDI). The book is primarily composed of empirical analyses of foreign direct investment behavior from an industrial organization and international trade perspective. These studies both examine determinants of FDI, as well as the effects of FDI on host and parent countries. The work examines FDI from a firm-level perspective and uses unique micro-level datasets to further understand firm-level FDI decisions and their impact on local economies. The volume should be valuable to both existing and new scholars in the field of international trade and international business. Much of the work is policy-oriented and so it will also be valuable to policymakers who follow the academic literature.
The International Economics of Wine provides a broad range of studies by Professor Kym Anderson and his co-authors of the international trade dimension of national, regional and global wine market developments over the past quarter-century. Prior to 1990, barely 10% of global wine production crossed national borders, but now that figure is 40%. In that short period, wine has switched from being one of the world's least-traded agricultural products to one of the most traded internationally. This has created an unprecedented boom for consumers, who have also witnessed huge improvements in the quality and diversity of wines available.The chapters in this book shed light on the causes and consequences of the dramatic transformation of the world of wine. An economic model of the world's wine markets, based on newly compiled data, makes it possible to quantify the likely effects of changes in incomes, consumer preferences, tax and trade policies, and exchange rates. Differential changes in technologies and winegrape varieties, and the opening up of cooler wine regions, have also altered comparative advantages in wine.
The current state of dissatisfaction with economic issues are not due to primarily economic reasons, but instead, on how whole societies and communities have come to revolve only around the individual's well-being. Islamic Perspectives on a Moral Approach to Economics provides an overview of how followers of Islam think, earn, and treat others with whom they are doing business, and analyses how the moral climate is key for doing business in the Islamic economy and market. The book also discusses the concept of a moral market against that of the Islamic moral market, its advantages over the conventional market and moral market, and analyses its role in redistributive justice. Islamic Perspectives on a Moral Approach to Economics is a new and novel contribution to the global debate on how moral values and religion can increase behavior that reduce the state of selfishness currently prevalent in economic affairs.
This volume incorporates important surveys from a historical perspective. The masterly survey of Bhagwati provides great intuition about trade theoretical results and Chipman's three surveys present the mathematics of trade theory. These are very deep surveys from a mathematical point of view and show, for example, the Ricardian model as an application of Quasi-Concave programming and also the magnificent use of Sperner's Lemma for the odd and even intersections that occur in some problems in trade theory. There are also other surveys bringing the literature up to date and covering specific topics in trade theory.
This volume collects 26 papers covering channels of international technology transfer; multinational firms, market structure, and welfare; intellectual property rights, foreign direct investment, and innovation; flexibilities contained in the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS); exhaustion of intellectual property rights and compulsory licensing of patents; trade, foreign direct investment, and industrial policy; and, oligopolistic competition, research and development, and vertical contracts.
In this new global era, the rising degree of interconnectedness between countries is giving rise to higher levels of trade. Trade Among Nations: Dimensions; Proportions; Directions presents an empirical study of several salient attributes of the size and patterns of trade among nations. It addresses the importance of trade in a nation's economic activity and its change over time, structural attributes of trade flows, and the directions of these flows. By exploring historical data and employing alternative and novel methods of analysis, Trade Among Nations uncovers new insights in the areas of global and intra-industry trade that go beyond conventional wisdom, and answers the age-old question since the dawn of globalization -- should the world become more or less 'global' in trade?
Foreign Direct Investment (FDI) flows started gaining traction in South Asia from the late 20th century onwards, when nations from the South Asian Association for Regional Cooperation (SAARC) began moving away from highly controlled regimes and adopting liberal and open economic policies.In the context of surplus labour and capital scarcity faced by South Asian countries such as India, Pakistan, Bangladesh and Sri Lanka, to varying degrees, the economic reform process has provided an opportunity to actively promote inward FDI flows, with the goal of providing the much-needed capital for the growth of this region. Several policy initiatives were undertaken to attract FDI and incentives were announced to fascinate investors, resulting in the inflow of FDI across the region.This book examines FDI inflows in SAARC nations in the light of regional policy changes in the 21st century. It investigates the relationship between trade and FDI in the region, and also provides insights into the ease of doing business in the SAARC region.
This book contains the main contributions of Eric Bond in the areas of international trade policy, trade agreements, and economic growth. The central focus of this volume is the author's pioneering work on the role of differences in market power across countries in explaining incentives to join preferential trade agreements and the form of trade agreements. Other topics include the interactions of physical and human capital accumulation in determining trade patterns and growth rates and the impact of non-tariff measures on international trade and investment. The volume also gives insights into the role of firm heterogeneity in domestic and international trade.
Since 1962, economists have used the 'gravity equation' in international trade to explain empirically bilateral international trade flows, and have since more recently adopted the gravity model to explain foreign direct investment stocks. Motivated by its empirical success, Jeffrey H. Bergstrand provided one of the earliest formal theoretical foundations for the gravity equation in international trade in 1985. Since then, the gravity equation has become a fundamental element of international trade theory, empirical work, and policy analysis, especially of the effects of economic integration agreements and tariffs on trade flows and welfare. Understanding Globalization Through the Lens of Gravity is a curated collection of Bergstrand's published papers over the 30 years since his first paper on the theme of gravity. In four parts, the 17 papers span topics such as the determinants of international trade flows, economic determinants of free trade agreements, estimating the effects of economic integration agreements on trade flows, and economic determinants of multinational firms' foreign direct investment stocks, foreign affiliate sales and governments' bilateral investment treaties.
Waging Cooperation in Asia: A Balanced View towards Regional Integration provides an in-depth analysis of economic integration in Asia. Being open and particularly dependent on trade with G-2, the Asian economy should have suffered greatly during the Great Recession. Yet, the region has performed remarkably well. The strength of domestic demand is only a part of the explanation. The other important part is rising economic integration, featured by, among others, growing intra-Asian trade and trade between Asia and other emerging market economies. This book argues that this trend is likely to continue even with the G-2 recovery, because it can provide better opportunities for a more balanced and sustainable development.The book also explains why regional integration should be viewed in a balanced way: it provides benefits and opportunities, but also costly and carries some risks. Given the free flows of capital in the current global economic uncertainty, regional cooperation in the provision of financial safety nets is particularly highlighted.
We live in a world that is increasingly dependent on international trade in a context of substantial regional/national political tensions. Adding to this is an emerging understanding and concern about the social impact of biosecurity and ecosystem services risks associated with such trade. As the key international trade 'arbiter', the World Trade Organization (WTO) has never before faced such complexity within its decision-making remit.With increasing numbers of bilateral and regional agreements, as well as new developments emerging such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) initiated by multi-national corporations in 2018, the WTO needs to implement ways of reinforcing its legitimacy and enhancing its relevance.This book provides an original analysis of these linked developments and delivers a timely contribution to resolving environment-related international trade disputes. It provides a clear roadmap for improving WTO trade dispute resolution procedures so both biosecurity and ecosystem services risks are considered in evaluating the social, economic and environmental impacts of international trade proposals. In so doing, the WTO should deliver enhanced multilateral social welfare.