Since developing countries were relatively free from the trade regulations relating to export promotion policies until 1994, the northeast Asian dynamic economies could pursue export promotion policies aggressively during the period of rapid economic growth. Under the current World Trade Organization (WTO) system, there are restrictions or even prohibitions on the developing countries' use of export promotion policies. One may doubt the fairness of the current WTO system, which regulates the use of export promotion policies regardless of different economic development levels. The current paper suggests various ways of allowing developing countries to develop their production capacities and exports of manufactured products. It also provides suggestions on modifying the current WTO regulations in favor of the export promotion policies of developing countries. Such special treatment of developing countries could be justified from the viewpoint of distributional fairness applied to international trade relations. 相似文献
The question of the terms of trade has not yet been studied by the new empirical literature on the export sophistication, which focuses only on its effect on economic growth. The contribution of this paper is to investigate whether the increase in the export sophistication is terms of trade worsening or improving for the developing and emerging economies. Importantly, we find that the increase in the sophistication of the developing countries’ exports is accompanied by a deterioration of their terms of trade. 相似文献
Landlockedness imposes additional costs on trade and reduces international competitiveness. This paper examines the determinants of export performance in developing countries, within a comparative perspective of landlocked developing countries (LLDCs) and non‐landlocked developing countries, by using a standard gravity modeling framework. The study covers data from 1995 to 2015. The results suggest that despite recent trade policy reforms, the overall export performance of LLDCs is lower than that of non‐landlocked developing countries due to the inherent additional trade costs associated with landlockedness. The conventional wisdom that export performance is aided by economic openness also applies to LLDCs, but distance‐related trade costs have a greater negative impact on exports from LLDCs than on other developing countries. The immediate trade policy challenge for LLDCs is therefore to create a more trade‐friendly environment by lowering tariffs, reforming exchange rates and entering into regional trade agreements. 相似文献
Since 1980 several developing countries have received World Bank structural loans, aimed at opening their economy to international trade. By estimating a gravity equation on a panel of 180 countries, observed from 1962 to 2010, we investigate whether the Bank’s programs have affected the export performance of beneficiaries in the subsequent years. According to our results, trade loans have been ineffective in the shorter run while, in the longer, they appear to have hindered the export performance of recipient countries. The Bank’s new trade policy approach, however, seems to have some potential for inverting the negative influence that we have detected. 相似文献
This paper examines the relationship between export expansion and economic growth in a sample of seventy-three developing countries, using data for the period 1960–1978. It shows that in both groups of low- and middle-income countries, export expansion is associated with better economic performance and that an important cause of this association is the favorable impact of exports on total factor productivity. The paper also demonstrates that the effect of commodity composition of exports on the relationship between export expansion and economic growth is substantial in more advanced developing economies. 相似文献
This paper empirically investigates the role of trade, remittances, and institutions in economic development in a large sample of developing countries using recently developed instruments for all these variables. Both cross-country (over 30 years) and dynamic panel data (over 5-year periods) regressions of growth rates on instrumented trade, remittances, and institutions provide evidence of a significant impact of trade, institutions, and remittances on growth. While institutions foster growth, remittances hamper it. The effect of trade on growth is positive in cross-sectional regressions but ambiguous in dynamic panel data regressions. These results are indicative of a more important role for trade in explaining growth in the very long run compared with over shorter horizons. 相似文献
In general, the economic performance of European countries was disappointing in the 1990s. However, country differences increased, and in some European countries economic growth matched US rates. This paper uses a set of performance indicators to carve out a group of successful European countries and to compare their economic strategies to those of the more poorly performing, big continental economies. The analysis shows that the successful countries implemented a policy mixture of cost cutting, improving institutions, and investing in future growth. We consider the first two strategy elements to be preconditions, while investment in growth drivers such as research, education and technology diffusion is the sufficient condition for long‐run growth. The difference between top and low performers is larger with respect to the dynamics of future investment than in cost cutting. In research expenditures, the top countries surpassed the big continental European countries in 1987, and have been increasing their lead steadily since that time. They are welfare states with a comprehensive social net, which they have maintained in principle, while improving institutions and incentive structures. The results are not in line with the usual twin hypotheses that high welfare costs and insufficient labour market flexibility are the main culprits in European underperformance. 相似文献
A prospering modern sector is crucial for the successful long‐term development in developing countries as it provides income and job growth for large shares of society. While this idea is widely accepted, there is, perhaps surprisingly, far less analysis about the exact determinants of this economic modernization process. In this article we empirically investigate whether international trade and institutions, both much discussed in the debates on general growth and development, are particularly important for the diffusion of production in the modern sector within developing societies. In a large cross section time‐series sample, we provide robust estimation results that point to an important role of institutions and to a nonlinear impact of manufacturing exports. Our results, which are derived using a range of estimators and are ultimately less susceptible to endogeneity concerns, also provide interesting insights into the role of natural resources and official development aid. 相似文献
Technology spillovers offer great opportunities for economic growth to developing countries that do little, if any, R&D activity. This paper explores the extent to which these countries benefit from foreign technology, the diffusion mechanisms involved, and the factors that shape their absorption capabilities. Results based on a non-stationary panel of 55 developing countries indicate that the benefits are quite substantial: a ten-percent increase in foreign R&D stock is translated into more than a two-percent increase in aggregate productivity. Of the diffusion channels considered, imports appear to be more conducive to R&D spillover. In addition, developing countries that enjoy larger benefits tend to exhibit larger stock of human capital, more openness to trade and foreign activities, and stronger institutions. These North–South R&D spillovers, although larger than previously suggested, appear less strong than North–North spillovers, adding to the general literature on economic divergence between developed and developing countries. 相似文献
Globalisation is a major issue in international debate. The demonstrations in Seattle in 1999 showed that there is a high level of public concern over the growth of world trade and the institutions, such as the International Monetary Fund, the World Bank and the World Trade Organisation (WTO), that have key roles in global trade and development. Much of the concern relates to developing countries and their place in the international economy. This article is an edited version of a paper presented by His Excellency Dr Supachai Panitchpakdi as the 2000 David Finch Lecture at the University of Melbourne on 5 July 2000. Dr Supachai is a key player in the development of the international economy and is the next Director General of the WTO. In his article, Dr Supachai addresses many of the concerns relating to globalisation and developing countries. He discusses the key issues facing the WTO and world trade in general, focusing on the need for both coordination and coherence in the development of international economic relations. In particular, he highlights the need for an inclusive approach to international trade liberalisation. 相似文献
Using a large panel of countries during the period 1950–2009, we estimate the inflation thresholds above which its association with economic growth is expected to be negative, taking into account differences in institutions across countries. First, in line with previous literature, we find that the estimated threshold is substantially higher for developing countries compared to that of developed countries. However, we further show that the inflation threshold in developing economies falls when we consider reduced groups that exceed certain levels of institutional quality. We also find that the cost of inflation increases with the quality of institutions. 相似文献
This survey at shed light on the potential contribution of industrialization based on resource processing to efficient growth, employment creation, greater equity and economic independence. The use of capital-intensive methods to reduce raw material costs appears to confer comparative advantage on countries with cheap capital. Lower transport costs due to substantial weight reduction in processing may counter this advantage for some stages of processing, but does not universally favor LDC exporters. Most major producers export sufficient quantities to achieve scale economies typical of resource processing, but economies of scale are a barrier in processing for the domestic market in all except the largest LDCs. External economies of industrialization are also thought to favor processing in the industrial countries, but potential linkages could stimulate some complementary investments in LDCs. Because resource-based industries are not impressive contributors to direct or indirect employment creation, they are likely to perpetuate the pattern of dualism and inequality present in typical resource-rich countries.Third-world exporters may be barred from entry into resource processing by the dominance of multinational firms in the metals and petroleum industries; by shipping conference freight rates that discriminate against processed commodities; and by importing country tariff structures that provide substantial effective protection against many LDC semi-processed exports. Processing of natural resources for export tends to continue the broad pattern of trade, financial and technical dependence of developing countries, although market dependence may decrease at some stage of processing. Home-oriented processing avoids market dependence, but cannot escape outside dependency on technology, management and finance. 相似文献
This paper examines how trade liberalization affects the growth rate of sectoral employment in developed and developing countries. The estimation results imply that trade openness in the form of higher trade volumes has not been successful in generating jobs in developing countries. The overall weak, negative employment response to trade volumes may be explained by the negative output response to trade openness in these countries. Our estimates also indicate that higher trade volumes have adverse effect on industrial employment in developed countries. Moreover, while they have positive effect on employment in industry and services in developing countries, trade barriers have adverse effect on employment growth in services for developed countries. Our overall results imply that while trade barriers have relatively little adverse effects and/or in some case a positive effect on employment both in developing and developed countries, higher trade volumes have an adverse effect on industrial employment in developed economies. Thus, trade openness is not in itself a solution to the unemployment problems of developing countries and yet it has not been the prime factor to blame for the lower employment levels in developed countries. 相似文献
Demographic structure could affect economic growth through many channels. However, little is known about how demographic structure affects economic growth since no study has examined an extensive collection of channels through which demographic structure could affect economic growth in a single context. This paper overcomes this limitation by examining 45 potential mediating variables between demographic structure and economic growth. A causal search algorithm is used to identify channels through which demographic structure affects economic growth. Our results suggest that demographic structure affects economic growth differently between developed and developing countries. For developed countries, we find that an increase in the share of middle-aged workers has a positive effect on economic growth through institutions, investment and education channels. On the other hand, an increase in the share of the senior population has a negative effect on economic growth through institutions and investment channels. For developing countries, we find (but with weak evidence) that an increase in the share of young workers has a negative effect on economic growth through investment, financial market development and trade channels. 相似文献
This article distinguishes two sources of productivity increases, namely product/process innovations and trade innovations. An empirical analysis for 13 OECD countries shows that product/process innovations, represented by aggregated investments in Research and Development (R&D), are major determinants for productivity growth in large industrial countries, whereas trade innovations, represented by export intensity, seem to contribute most to productivity in trade-oriented economies. These trade innovations relate to the ability to reduce transaction costs so that these trading nations specialize in the organization of production in this era of globalization where the production chain is split up in more and more component parts. 相似文献
This paper has two objectives: to locate the global trade pattern and to compute the export potential of world economies. Considering the maximum number of countries and maintaining a good representative sample of the overall international trade, an empirical examination is conducted by utilizing the trade complementary index and the per-capita income variable in the standard gravity model. The main aim is to determine which of the two theoretical frameworks―either the Heckscher-Ohlin theory, which is based on factor endowments or the Modern Trade theory of Krugman-Helpman and Linder, based on the intra-industry trade―is explaining the overall global trade flows. The estimated results support the factor endowments trade theory. In other words, the observed trade patterns conform to the Heckscher-Ohlin theory of trade over intra-industry Modern trade theories. The inference drawn is based on the significantly positive coefficient of the trade complementarity index and the absolute differenced PCI variable. Furthermore, as far as export potential is concerned, there exists a vast scope for the export potential across economies. These countries can exploit the existing export potential through trade cooperation and integration at the regional and the bilateral level.