Trade- Practice and Theory
|
|
- Daniela Sharp
- 6 years ago
- Views:
Transcription
1 Trade- Practice and Theory Show Trade relationships Despite Theory and Ideologies that are suspicious of trade. Something s going on, and perhaps surprisingly most trade is between wealthy nations.
2 European Union Trade United States China (excluding Hong Kong) Japan All countries of the world a a a a00
3 Shares of World Trade European Union United States China 9.6 Japan 6.7 Canada Hong Kong, China Korea, Republic of Mexico Singapore Taipei, Chinese India Malaysia Switzerland Saudi Arabia Australia Other Members
4
5
6
7 HECKSHUR-OHLIN TRADE THEORY A nation will export the commodity whose production requires intensive use of relatively abundant and cheap factor and import the commodity that requires the intensive use of scarce or relatively expensive factors. Until the prices or factor costs are equal.
8 TRADE RELATIONSHIPS X $1000
9
10 ASSUMPTIONS BEHIND PURE THEORIES OF TRADE Costless Transactions Full Resource Employment Pareto distribution (side-payments to losers.) Similar Technology Constant Returns to Scale Similar tastes Costless Factor Movements (land labor capital.)
11 HECKSHUR-OHLIN TRADE THEORY Comparative Advantage Assumes Differential productivity of Labor Heckshur-Ohlin incorporates differential factor endowments and factor intensity in products. Factor endowments Workers or Relative productivity of Labor Capital Factor Intensity of Products more capital or labor or land intensive per unit to produce Portugal has more sunshine=grapes England more textile mills/ sheep
12 HECKSHUR-OHLIN TRADE THEORY Prediction one: Countries will focus on products whose input factors are relatively abundant within each country. Factor abundance can be measured in terms of relative factor prices, not simply ratio of availability. Similar to opportunity costs Factor prices are subject to competitive pressures. Demand for labor, or capital.
13 H-O FACTOR-PRICE EQUALIZATION Heckshur-Olin corollary International Trade will bring about equalizations in relative and absolute returns to homogenous factors across nations. Means factors, like wages will equalize for comparably productive workers. Also means returns to capital will tend to equalize across borders once the international markets are accessed. Creates race-to-the bottom arguments, Some room for competitive policies and externalizations of public bads.
14 HECKSHUR-OHLIN TRADE THEORY Trade acts as a substitute for mobility of other factors (labor, capital). Expectations of flows of other factors may also be demand driven. labor to high-wage capital to high interest or return countries. Factor reversals Leontief paradox Observed the US exported labor intensive goods, not capital as expected- despite being the most capital rich/ intensive country in the World. maybe only two factor model (not natural resources) Not inclusive of high human capital
15 HECKSHUR-OHLIN TRADE THEORY Leontief paradox drives Empirical Challenges to H-O, Stolper- Samuelson Increasing returns to scale maybe only two factor model (not natural resources) Not inclusive of high human capital/ heterogeneous labor Consumption/ demand driven production Role of transport costs Transaction costs exchange rate, contracts, information acquisition Assymetrical/expensive Information Path dependencies- Geographic economics eg.
16 RELAXING ASSUMPTIONS OF PURE THEORY OF TRADE Acquired Comparative Advantage: Means Comparative advantage is not just Given by Factor Endowments Economies of Scale Similar technologies Regulatory, or enforcement advantage Institutional Advantage Imperfect Competition
17 RELAXING ASSUMPTIONS: ACQUIRED COMPARATIVE ADVANTAGE Acquired Comparative Advantage Economies of Scale more efficient production for larger scale (capital intensive operations) Explains trade between similarly endowed countries. Is a central idea of gains from trade. Thought to be complementary to H-O and gains from trade. However, achievement of competitive scale for value-added sectors leads to some policy prescriptions Strategic Trade policies: Infant Industry Arguments subsidies Tariffs NTB
18 RELAXING ASSUMPTIONS: ACQUIRED COMPARATIVE ADVANTAGE Strategic Trade Policy Subsidy decision Yingli and Solarworld consider new solar technology and manufacturing Market will only support one new producer No Sub Costs Rewards SolarWorld 75 billion 50%100 billion Yingli 75 billion % billion With Sub SolarWorld Yingli Costs 75 billion 75 billion-25 subsidy 100 billion market 50%100 billion % billion
19 RELAXING ASSUMPTIONS: ACQUIRED COMPARATIVE ADVANTAGE AND INCREASING RETURNS Welfare loss to Tariffs or NTBs thought to be offset by public good of infant industry support ISI= Import substitution industrialization Import substitution industrialization also argued to create local economy of scale, and eventually knowledge to manufacture high value goods. Brazil and airplanes, automobiles Quotas Increasing Returns to Scale can create monopoly firms in single nation markets.
20 DIFFERENT TECHNOLOGIES Different technologies can alter efficiency, or change factor intensity of production. Advances in technology provide monopoly-like profits to leading firms. Substitution of labor for capital and vis-versa Elasticity of substitution: How easily labor can substitute for capital The costs of production may vary based on worker productivity. Human capital- multiplies the relative endowment effect of labor. More productivity per cost.
21 DIFFERENT TECHNOLOGIES Different technologies can alter efficiency, or change factor intensity of production. Advances in technology provide monopoly-like profits to leading firms. National Policies of Subsidy to technology intensive industries, or technology development behind trade barriers.
Assignment 1. Multiple-Choice Questions. To answer each question correctly, you have to choose the best answer from the given four choices.
ECON 3473 Economics of Free Trade Areas Instructor: Sharif F. Khan Department of Economics Atkinson College York University Winter 2007 Assignment 1 Part A Multiple-Choice Questions To answer each question
More informationPrepared by Iordanis Petsas To Accompany. by Paul R. Krugman and Maurice Obstfeld
Chapter 4 Resources and Trade: The Heckscher-Ohlin Model Prepared by Iordanis Petsas To Accompany International Economics: Theory and Policy, Sixth Edition by Paul R. Krugman and Maurice Obstfeld Chapter
More informationChapter 19. International Trade and Interdependence. Copyright 2011 Pearson Addison-Wesley. All rights reserved.
Chapter 19 International Trade and Interdependence Basic principle of Comparative Advantage A country should produce and specialize in those goods which it can produce for a lower opportunity cost than
More informationChapter 5. Resources and Trade: The Heckscher- Ohlin Model
Chapter 5 Resources and Trade: The Heckscher- Ohlin Model Introduction So far we learned that: Free trade leads to higher average real income per capita But not everyone within the country is better off
More informationPreview. Chapter 10. Introduction. Introduction
Chapter 10 Trade Policy in Developing Countries Preview Import substituting industrialization Trade liberalization since 1985 Export oriented industrialization Slides prepared by Thomas Bishop Copyright
More informationContents. List of Figures / xi. Acknowledgements / xxi. 1. International Trade: Theory and Application / 1
List of Figures / xi List of Tables / xvii Acknowledgements / xxi 1. International Trade: Theory and Application / 1 1.0 An Overview of the Global Economy / 1 1.1 World Trade by Region / 3 1.2 What Is
More informationChapter 10. Preview. Introduction. Trade Policy in Developing Countries
Chapter 10 Trade Policy in Developing Countries Slides prepared by Thomas Bishop Copyright 2009 Pearson Addison-Wesley. All rights reserved. Preview Import substituting industrialization Trade liberalization
More informationInternational Business
International Business 10e By Charles W.L. Hill Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Chapter
More informationK e y T e r m Ricardian Model
Ricardian Model 1. A country has comparative advantage in producing a good when the country s opportunity cost of producing the good is lower than the opportunity cost of producing the good in another
More informationThe Final Exam is Tuesday May 4 th at 1:00 in the normal Todd classroom
The Final Exam is Tuesday May 4 th at 1:00 in the normal Todd classroom The final exam is comprehensive. The best way to prepare is to review tests 1 and 2, the reviews for Test 1 and Test 2, and the Aplia
More informationThe WTO: Economic Underpinnings
W T O l e a r n i n g m o d u l e s The WTO: Economic Underpinnings Roberta Piermartini Economic Research and Statistics Division WTO (Version 1 st March 2007) Copyright WTO 2005-2006 1 List of slides
More informationWhat is international economics about? International trade topics
Chapter 1 Introduction Preview What is international economics about? International trade topics Gains from trade, explaining patterns of trade, effects of government policies on trade International finance
More informationIntroduction to Economics. MACROECONOMICS Chapter 6 International Economics
Introduction to Economics MACROECONOMICS Chapter 6 International Economics contents 6.1 6.2 6.3 6.4 6.5 6.6 Theory of Comparative Advantage Gains from International Trade Trade Barriers Balance of Payments
More informationECON 442: Quantitative Trade Models. Jack Rossbach
ECON 442: Quantitative Trade Models Jack Rossbach Previous Lectures: Ricardian Framework Countries have single factor of production (labor) Countries differ in their labor productivities for producing
More informationPubPol 201. Module 3: International Trade Policy. Class 2 Outline. Class 2 Outline. Class 2. The Gains and Losses from Trade
PubPol 201 Module 3: International Trade Policy Class 2 The Gains and Losses from Trade Class 2 Outline The Gains and Losses from Trade Comparative advantage Other sources of gain from trade Who gains
More informationChapter 20 International Trade, Comparative Advantage, and Protectionism. Kazu Matsuda IBEC 203 Macroeconomics
Chapter 20 International Trade, Comparative Advantage, and Protectionism Kazu Matsuda IBEC 203 Macroeconomics INTERNATIONAL TRADE, COMPARATIVE ADVANTAGE, AND PROTECTIONISM The internationalization or globalization
More informationInternational Business Global Edition
International Business Global Edition By Charles W.L. Hill (adapted for LIUC2014 by R.Helg) Chapter 6 International Trade Theory Why Is Free Trade Beneficial? Free trade - a situation where a government
More informationPubPol 201. Module 3: International Trade Policy. Class 2 The Gains and Losses from Trade
PubPol 201 Module 3: International Trade Policy Class 2 The Gains and Losses from Trade Class 2 Outline The Gains and Losses from Trade Comparative advantage Other sources of gain from trade Who gains
More informationCHAPTER 16 International Trade
PART 6: INTERNATIONAL ECONOMICS CHAPTER 16 International Trade Slides prepared by Bruno Fullone, George Brown College Copyright 2010 McGraw-Hill Ryerson Limited. 1 In This Chapter You Will Learn Learning
More informationUniversity of Karachi
International Economics INTERNATOINAL ECONOMICS (PAPER - II) M.A (FINAL) EXTERNAL ANNUAL EXAMINATION 1997 University of Karachi Time: 3 Hours Maximum Marks: 100 1) Attempt any five questions. 2) All questions
More informationPolitical Economy In Turkey. State-led to State Partner
Political Economy In Turkey State-led to State Partner ETATISM AND STATE-LED DEVELOPMENT. Of the Arrows of Ataturk: Etatism requires the developmentalist state (devletçilik) As part of Kemalism, Etatism
More informationMultiple-Choice Questions for International Economics
Multiple-Choice Questions for International Economics by Dr. Bob Carbaugh Department of Economics Central Washington University Chapter 1: The International Economy and Globalization A primary reason why
More informationTrade and Development. Copyright 2012 Pearson Addison-Wesley. All rights reserved.
Trade and Development Copyright 2012 Pearson Addison-Wesley. All rights reserved. 1 International Trade: Some Key Issues Many developing countries rely heavily on exports of primary products for income
More informationThe Theory of Economic Growth
The Theory of The Importance of Growth of real GDP per capita A measure of standards of living Small changes make large differences over long periods of time The causes and consequences of sustained increases
More informationThe Theory of Economic Growth
The Theory of 1 The Importance of Growth of real GDP per capita A measure of standards of living Small changes make large differences over long periods of time The causes and consequences of sustained
More informationFINAL VERSION A Friday, March 24, 2006 Multiple choice - each worth 5 points
ECN 481/581, Winter 2006 NAME: Prof. Bruce Blonigen ID#: FINAL VERSION A Friday, March 24, 2006 Multiple choice - each worth 5 points 1) Which of the following statements about a safeguard trade action
More informationLec 1: Introduction. Copyright 2000, South-Western College Publishing
Lec 1: Introduction Copyright 2, South-Western College Publishing Subject Outline Trade Theory Finance International Economics Trade Policy Heckscher-Ohlin Stolper-Samuelson Comparative Advantage Factor
More information1. Record levels of American outward foreign direct investment from 2000 to 2009,
Chapter 02 International Trade and Foreign Direct Investment True / False Questions 1. Record levels of American outward foreign direct investment from 2000 to 2009, totaling more than $2 trillion, caused
More informationLecture 9: Multinational Corporations and FDI. Contrast with portfolio investment Overview of recent developments Explaining FDI
Lecture 9: Multinational Corporations and FDI Contrast with portfolio investment Overview of recent developments Explaining FDI Portfolio Investment and FDI Investments without managerial control Driven
More informationContents. 1 Introduction. The Globalization of the World Economy 1 1.1A We Live in a Global Economy 1
1 Introduction The Globalization of the World Economy 1 1.1A We Live in a Global Economy 1 The Globalization Challenge 3 The Dell PCs, iphones, and ipads Sold in the United States Are Anything but American!
More informationChapter 16 International Trade and Globalization
Chapter 16 International Trade and Globalization Multiple Choice Questions Choose the one alternative that best completes the statement or answers the question. 1. David Ricardo demonstrated that (a) weak
More informationTrade theory has paid little attention to determinants of trade based on demand, specifically when consumption patterns vary between countries
TASTES AND INCOME Trade theory has paid little attention to determinants of trade based on demand, specifically when consumption patterns vary between countries This can be broken into two issues: - national
More informationStudy Questions (with Answers) Lecture 4 Modern Theories and Additional Effects of Trade
Study Questions (with Answers) Page 1 of 6 (7) Study Questions (with Answers) Lecture 4 and Additional Effects of Trade Part 1: Multiple Choice Select the best answer of those given. 1. Which of the following
More informationThe Relative Significance of EPAs in Asia-Pacific
The Relative Significance of EPAs in Asia-Pacific 19 June 2014 Consulting Fellow, RIETI Kenichi Kawasaki 29 October 2011 Overview The relative significance of EPAs in Asia-Pacific TPP and RCEP are shown
More informationPre-Classical Theory of International Trade. Adam Smith s Theory of Absolute Cost Difference. David Ricardo s Theory of Comparative Cost Advantage.
Learning Objectives International Economics Pre-Classical Theory of International Trade. Adam Smith s Theory of Absolute Cost Difference. David Ricardo s Theory of Comparative Cost Advantage. JS Mill s
More informationНазвание теста: Международная торговля(international trade) Предназначено для студентов специальности: Международные отношения, (3 курс 4 го), очное
Название теста: Международная торговля(international trade) Предназначено для студентов специальности: Международные отношения, (3 курс 4 го), очное Текст вопроса 1 Which trade theory holds that nations
More informationCHAPTER 2 FOUNDATIONS OF MODERN TRADE THEORY: COMPARATIVE ADVANTAGE
CHAPTER 2 FOUNDATIONS OF MODERN TRADE THEORY: COMPARATIVE ADVANTAGE MULTIPLE CHOICE 1. The mercantilists would have objected to: a. Export promotion policies initiated by the government b. The use of tariffs
More informationChapter 20 International Trade, Comparative Advantage, and Protectionism. Kazu National Coverage Matsuda IBEC 203 Macroeconomics
Chapter 20 International Trade, Comparative Advantage, and Protectionism Kazu National Coverage Matsuda IBEC 203 Macroeconomics INTERNATIONAL TRADE, COMPARATIVE ADVANTAGE, AND PROTECTIONISM The internationalization
More informationDEFICITS, TARIFFS, AND TRADE WARS. Andrew Greenland, PhD. Assistant Professor of Economics
DEFICITS, TARIFFS, AND TRADE WARS Andrew Greenland, PhD. Assistant Professor of Economics DEFICITS, TARIFFS, AND TRADE WARS Why countries trade. The drivers of global integration. Who wins and who loses
More informationLecture 13. Trade in Factors. 2. The Jones-Coelho-Easton two-factor, one-good model.
Lecture 13 Trade in Factors 1. A gains-from-trade theorem 2. The Jones-Coelho-Easton two-factor, one-good model. 3. The Heckscher-Ohlin Model: trade in goods and factors as substitutes. Mundell (1957).
More informationUNIVERSITY OF CALICUT INTERNATIONAL ECONOMICS
UNIVERSITY OF CALICUT SCHOOL OF DISTANCE EDUCATION VI SEMESTER B.A ECONOMICS (2011 ADMISSION ONWARDS) CORE COURSE INTERNATIONAL ECONOMICS QUESTION BANK 1. Trade In differentiated products refers to A.
More informationECO320 International Economics FACULTY OF COMMERCE. Study Guide
ECO320 International Economics FACULTY OF COMMERCE Study Guide International Economics ECO320 Study Guide Faculty of Commerce Written and compiled by Kishor Sharma Produced by Learning Materials Centre,
More informationChapter 4. Comparative Advantage and Factor Endowments. Copyright 2011 Pearson Addison-Wesley. All rights reserved.
Chapter 4 Comparative Advantage and Factor Endowments Chapter Objectives Analyze the factors causing differences in the countries comparative advantage Heckscher-Ohlin model Present economic models on
More informationHeckscher-Ohlin Theory
Heckscher-Ohlin Theory International Trade Prof. Harris Dellas Lecture Slides March 5, 2017 Prof. Harris Dellas (Uni Bern) Heckscher-Ohlin Theory March 5, 2017 Slide 1 Outline 1 Overview 2 Important propositions
More informationEconomics 340 International Economics First Midterm Exam. Form (KEY) 0. February 20, 2017
Page 1 of 14 NAME: Student ID No.: Economics 340 International Economics Exam Form (KEY) 0 February 20, 2017 INSTRUCTIONS: READ CAREFULLY!!! 1. Please do not open the exam until you are told to do so.
More informationReporting practices for domestic and total debt securities
Last updated: 27 November 2017 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on
More informationINTERNATIONAL ECONOMICS
Ninth Edition INTERNATIONAL ECONOMICS Steven Husted University of Pittsburgh Michael Melvin Arizona State University and BlackRock International Edition contributions by Atanu Rakshit Washington and Lee
More informationChapter 1 Introduction to Economics 1.0 CONTENTS. Introduction to the Series
CONTENTS Introduction to the Series iv 1 Introduction to Economics 5 2 GDP and its Determinants 17 3 Aggregate Demand and Aggregate Supply 28 4 The Macroeconomic Objectives 47 5 Fiscal Policy 73 6 Monetary
More informationFiscal Policy in a Small Open Economy with Endogenous Labor Supply * 1
Volume 22, Number 1, June 1997 Fiscal Policy in a Small Open Economy with Endogenous Labor Supply * 1 Michael Ka-yiu Fung ** 2and Jinli Zeng ***M Utilizing a two-sector general equilibrium model with endogenous
More informationEcon 340. The Issues. The Washington Consensus. Outline: International Policies for Economic Development: Trade
Econ 340 Lecture 19 International Policies for 2 3 The Issues The Two Main Issues: Should developing countries be open to international trade? Should developing countries be open to international capital
More informationWTO E-Learning. WTO E-Learning Copyright August The WTO and Trade Economics: Theory and Policy
WTO E-Learning WTO E-Learning Copyright August 2012 The WTO and Trade Economics: Theory and Policy 1 Introduction This is a multimedia course on The WTO and Trade Economics: Theory and Policy. The course
More informationPreview. Chapter 5. Resources and Trade: The Heckscher-Ohlin Model
hapter 5 Resources and Trade: The Heckscher-Ohlin Model Preview actor constraints and production possibilities How factor endowments affect output omparative advantage and trade hanging the mix of inputs
More informationLesson 12: Hecksher-Ohlin Model
International trade in the global economy 60 hours II Semester Luca Salvatici luca.salvatici@uniroma3.it Lesson 12: Hecksher-Ohlin Model 1 7 Heckscher-Ohlin Model Free-Trade Equilibrium Home Equilibrium
More informationThe World Economy from a Distance
The World Economy from a Distance It would be difficult for any country today to completely isolate itself. Even tribal populations may find the trials of isolation a challenge. Most features of any economy
More information3. Trade and Development
Trade and Development Table of Contents a) Absolute cost advantage (Adam Smith) b) Comparative cost advantage (David Ricardo) c) Different factor endowments (Heckscher Ohlin) d) Distribution of gains from
More informationINTERNATIONAL TRADE TOPIC
INTERNATIONAL TRADE 10 TOPIC Silk Routes and Sucking Sounds Since ancient times, people have expanded trading as far as technology allowed Marco Polo s silk route between Europe and China is an example.
More information5 International Trade
chapter: 5 International Trade 1. Assume Saudi Arabia and the United States face the production possibilities for oil and cars shown in the accompanying table. Saudi Arabia United States Quantity of oil
More informationLecture 12 International Trade. Noah Williams
Lecture 12 International Trade Noah Williams University of Wisconsin - Madison Economics 702 Spring 2018 International Trade Two important reasons for international trade: Static ( microeconomic ) Different
More informationLecture 2: The neo-classical model of international trade
Lecture 2: The neo-classical model of international trade Agnès Bénassy-Quéré (agnes.benassy@cepii.fr) Isabelle Méjean (isabelle.mejean@polytechnique.edu) www.isabellemejean.com Eco 572, International
More informationInternational Economics Econ 4401 Midterm Exam Key
International Economics Econ 4401 Midterm Exam Key Tim Uy Name: Student Number: 1 Short Answer Questions (30 Points) 1. [5] Give five reasons (or five theories that explain) why countries trade. Acceptable
More informationECON CHAPTER. McEachern Micro. International Trade. Designed by Amy McGuire, B-books, Ltd.
Designed by Amy McGuire, B-books, Ltd. Micro ECON McEachern 2010-2011 19 CHAPTER International Trade Chapter 19 Copyright 2010 by South-Western, a division of Cengage Learning. All rights reserved 1 The
More information1/25/2011. Introduction to International Trade. Basic Theory of Trade
Introduction to International Trade Comparative Advantage and the Patterns of International Trade The Standard Trade Model and International Factor Movements A Trade-based Model of Exchange Rates Why Do
More informationCASE FAIR OSTER. International Trade, Comparative Advantage, and Protectionism. Trade Surpluses and Deficits
PEARSON PRINCIPLES OF MICROECONOMICS E L E V E N T H E D I T I O N CASE FAIR OSTER Prepared by: Fernando Quijano w/shelly Tefft 2of 49 PART IV THE WORLD ECONOMY International Trade, Comparative Advantage,
More informationThe Relative Significance of EPAs in Asia-Pacific
The Relative Significance of EPAs in Asia-Pacific 10 November 2015 Kenichi Kawasaki GRIPS/JIIA/RIETI 29 October 2011 Overview The relative significance of EPAs in Asia-Pacific TPP and RCEP are shown to
More informationChapter 10: International Trade and the Developing Countries
Chapter 10: International Trade and the Developing Countries Krugman, P.R., Obstfeld, M.: International Economics: Theory and Policy, 8th Edition, Pearson Addison-Wesley, 250-265 Frankel, J., and D. Romer
More informationEndowment differences: The Heckscher-Ohlin model
Endowment differences: The Heckscher-Ohlin model Robert Stehrer Version: April 7, 2013 A difference in the relative scarcity of the factors of production between one country and another is thus a necessary
More informationInternational Trade. Heckscher-Ohlin Model and Political Economy of Trade
International Trade Heckscher-Ohlin Model and Political Economy of Trade International Economic Policy Finance and Development (LM-81), a.a. 2016-2017 Prof. Emanuele Ragusi Presentation taken from Reinert,
More informationInternational Economics for: International Business Program
International Economics for: International Business Program Introduction What is International Economics About? The Gains from Trade Many people are skeptical about importing goods that a country could
More informationEconomics 452 International Trade Theory and Policy Fall 2015
blue A FINAL EXAM Economics 452 International Trade Theory and Policy Fall 2015 FOREIGN DIRECT INVESTMENT 1. Historically, the countries have been the biggest recipients of inward FDI. Those inflows are
More informationTARIFF TIMELINE FOR U.S. IMPORTS AND EXPORTS
TARIFF TIMELINE FOR U.S. IMPORTS AND EXPORTS The year 2018 has affected the global trade industry in many ways. The following timeline shows the news announcements and effective dates for new tariffs on
More informationCASE FAIR OSTER PRINCIPLES OF MICROECONOMICS E L E V E N T H E D I T I O N. PEARSON 2014 Pearson Education, Inc.
PRINCIPLES OF MICROECONOMICS E L E V E N T H E D I T I O N CASE FAIR OSTER PEARSON Prepared by: Fernando Quijano w/shelly 1 of Tefft 31 2 of 31 PART IV THE WORLD ECONOMY International Trade, Comparative
More informationIndia s International Trade & Investment
India s International Trade & Investment July 2017 1 Structure of Presentation 1 Indian Economy: A Snapshot 2 Merchandise Trade: A Perspective 3 Services Trade: Recent Trends 4 India s Investment Flows
More informationCHAPTER 2 FOUNDATIONS OF MODERN TRADE THEORY: COMPARATIVE ADVANTAGE
CHAPTER 2 FOUNDATIONS OF MODERN TRADE THEORY: COMPARATIVE ADVANTAGE CHAPTER OVERVIEW This chapter introduces students to the foundations of modern trade theory which seeks to answer three questions: (1)
More informationBIS International Locational Banking Statistics and International Consolidated Banking Statistics in Japan (end-june 2018)
FOR RELEASE 8:5 A.M. September 14, 218 BIS International Locational Banking Statistics and International Consolidated Banking Statistics in Japan (end-june 218) I. BIS International Locational Banking
More informationThere are many different types of economic systems but we going to focus on three:
Economics is the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. There are many different types of economic systems but
More informationInternational Business. Globalization - the shift toward a more integrated and interdependent world economy
International Business Globalization - the shift toward a more integrated and interdependent world economy International Monetary Fund: maintains order in international monetary system; lender of last
More informationPP5183: Globalization, Trade, International Finance
PP5183: 10 13. Globalization, Trade, International Finance LKY School of Public Policy Danny Quah 2016 2017 Sem 2 OUTLINE 1. Trade and Comparative Advantage 2. Balance of Payments 3. Conclusion Policy
More informationEconomics 340 International Economics First Midterm Exam. Form (KEY) 0. February 20, 2017
Page 1 of 14 (16) NAME: Student ID No.: Economics 340 International Economics First Midterm Exam Form (KEY) 0 February 20, 2017 INSTRUCTIONS: READ CAREFULLY!!! 1. Please do not open the exam until you
More information2018 CAPITAL GAINS DISTRIBUTION ESTIMATES
2018 CAPITAL GAINS DISTRIBUTION ESTIMATES Estimated amounts of upcoming capital gain distributions are shown below. Estimated distributions can change prior to the record date depending on current market
More informationINTERNATIONAL TRADE: THEORY AND POLICY (HO)
INTERNATIONAL ECONOMIC POLICY AND DEVELOPMENT AA 2017-2018 INTERNATIONAL TRADE: THEORY AND POLICY (HO) PROF. PIERLUIGI MONTALBANO pierluigi.montalbano@uniroma1.it Repetita iuvant KEY POINTS of the Ricardian
More informationFactor endowments and trade I
Part A: Part B: Part C: Two trading economies The Vienna Institute for International Economic Studies - wiiw April 29, 2015 Basic assumptions 1 2 factors which are used in both sectors 1 Fully mobile across
More informationOther trade policy instruments
Lecture 8c: Other trade policy instruments Thibault FALLY C181 International Trade Spring 2018 Other trade policy tools: Quotas Tariffs under imperfect competition Anti-dumping laws 4- Import quotas Effect
More information40. The Stolper- Samuelson box
40. The Stolper- Samuelson box Henry Thompson General equilibrium economics stresses the interplay between output markets and input markets in the whole economy. The Stolper- Samuelson (1941) production
More informationJapan-ASEAN Comprehensive Economic Partnership
Japan- Comprehensive Economic Partnership By Dr. Kitti Limskul 1. Introduction The economic cooperation between countries and Japan has been concentrated on trade, investment and official development assistance
More informationI IB Economics (Groups III and VI): Grade 11
NAME St Maur International School I IB Economics (Groups III and VI): Grade 11 Exam Paper One : Sections A and B Wednesday June 1 st (afternoon) 2016 Time allowed: 90 minutes + 5 minute reading time Recommended
More informationChina s Gradual Opening to Trade
China s Gradual Opening to Trade Naughton notes (page 378) in perhaps no other sector of the economy has the pattern of sustained incremental and cumulative reform been as obvious and the outcomes so unambiguously
More informationEQUITY REPORTING & WITHHOLDING. Updated May 2016
EQUITY REPORTING & WITHHOLDING Updated May 2016 When you exercise stock options or have RSUs lapse, there may be tax implications in any country in which you worked for P&G during the period from the
More informationLecture 7 Part 3. Announcements. Minnesota Economics Association (MEA) Conference Friday, October 27 th, 2017 https://mea2017.eventbrite.
Lecture 7 Part 3 Announcements Minnesota Economics Association (MEA) Conference Friday, October 27 th, 2017 https://mea2017.eventbrite.com Lecture 7 Part 3 1. Review of Tariffs and Comparative Advantage
More informationA short history of debt
A short history of debt In the words of the late Charles Kindleberger, debt/financial crises are a hardy perennial we have been here many times before. Over the past decade and a half the ratio of global
More informationEnvironmental Goods Agreement (EGA) negotiations Civil Society Dialogue meeting 13 September 2016
Environmental Goods Agreement (EGA) negotiations Civil Society Dialogue meeting 13 September 2016 Disclaimer: All images and photographs in this presentation are used purely for purposes of demonstration
More informationUnit 1: c. Trade c.money External . Import-competing industries c. Relatively high wage levels for all domestic workers
GLS UNIVERSITY FACULTY OF COMMERCE Semester 4 INTERNATIONAL TRADE Question Bank Unit 1: Q.1. Multiple Choice Questions. 1. The exchange of goods and services are known as a. Domestic Trade b. International
More informationCan Regionalism Work? Caroline Freund
Can Regionalism Work? Caroline Freund Number of PTAs Evolution of PTAs Why Do Countries Impose Trade Barriers? Economists agree free trade is best. Why have trade barriers? To raise revenue. To protect
More informationSimon Fraser University Department of Economics. Econ342: International Trade. Final Examination. Instructor: N. Schmitt
Simon Fraser University Department of Economics Econ342: International Trade Final Examination Fall 2009 Instructor: N. Schmitt Student Last Name: Student First Name: Student ID #: Tutorial #: Tutorial
More informationEconomic Stimulus Packages and Steel: A Summary
Economic Stimulus Packages and Steel: A Summary Steel Committee Meeting 8-9 June 2009 Sources of information on stimulus packages Questionnaire to Steel Committee members, full participants and observers
More informationInternational Travel & Tourism Study (Published March 2005)
International Travel & Tourism Study (Published March 2005) Roy Morgan International conducts surveys in the US,, Australia, New Zealand and Indonesia on a continuous basis. Respondents are asked about
More informationECONOMICS EXAMINATION OBJECTIVES
ECONOMICS EXAMINATION OBJECTIVES The following objectives of the examination are to test whether the candidates have acquired a basic understanding of economics with special emphasis on Hong Kong conditions
More informationInternational Trade Lecture 1: Trade Facts and the Gravity Equation
International Trade Lecture 1: Trade Facts and the Equation Stefania Garetto 1 / 24 The Field of International Trade Facts Theory The field of International Trade tries to answer the following questions:
More informationECON* International Trade Winter 2011 Instructor: Patrick Martin
Department of Economics College of Management and Economics University of Guelph ECON*3620 - International Trade Winter 2011 Instructor: Patrick Martin MIDTERM 1 ANSWER KEY 1 Part I. True/False statements
More informationIFC / CWDI 2010 Report: Accelerating Board Diversity
IFC / CWDI 2010 Report: Accelerating Board Diversity Comparative Percentages of Women Directors -- Europe Country # of in Survey Percentage of with Women Directors Percent of Women Directors Norway 517
More informationThe Renegotiation of NAFTA: A Look at the Potential Consequences of a 20% Tariff on Mexican Imports
University of Wyoming Wyoming Scholars Repository Honors Theses AY 16/17 Undergraduate Honors Theses Spring 5-13-2017 The Renegotiation of NAFTA: A Look at the Potential Consequences of a 20% Tariff on
More information