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Review of World Economics - With the help of a political economy model, we show that the extent of ‘trade policy substitution’—namely, substitution of tariffs with non-tariff... 相似文献
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Cosimo Beverelli Salvatore Dell��Erba Nadia Rocha 《International Economics and Economic Policy》2011,8(2):139-153
We study how natural resource booms affect the real exchange rate in a situation where there are input–output linkages between
the manufacturing sector and the natural resource sector. An increase in revenues from natural resources could de-industrialize
an economy by raising the real exchange rate, rendering the manufacturing sector less competitive. This tendency towards de-industrialization
has been called “Dutch disease”. We build a theoretical model showing that a country experiencing discoveries of natural resources,
such as oil, is not necessarily bound to experience the Dutch disease. The appreciation of the real exchange rate can be escaped
if patterns of specialization shift towards the manufacturing industries that use oil more intensively. In the second part
of the paper, we test the model and find support for the claim that Dutch disease effect associated with discoveries of natural
resources (namely oil) are dampened in countries that specialize in resource-intensive manufacturing industries. 相似文献
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Cosimo Beverelli Victor Stolzenburg Robert B. Koopman Simon Neumueller 《The World Economy》2019,42(5):1467-1494
Identifying the determinants of global value chain (GVC) integration is essential to understand the past expansion and current slowdown in GVCs. In this paper, we study the role of domestic value chains (DVCs) for GVC integration. In the presence of industry‐specific fixed costs of fragmenting production and of switching across input suppliers, DVCs can either be stepping stones or stumbling blocks for subsequent GVC entry. Focusing on backward linkages, that is, the sourcing of intermediates, we provide robust empirical evidence in favour of the stepping‐stone hypothesis. In our benchmark specification, a one standard deviation increase in DVC integration raises subsequent GVC integration by about 0.4%. To identify the mechanisms at work, we exploit two dimensions of industry‐level heterogeneity: product differentiation (a proxy of fragmentation costs) and relationship specificity (a proxy of the costs of switching between suppliers). We find that DVC integration is less conducive to GVC integration in industries that are characterised by relatively high switching costs and relatively low fragmentation costs. 相似文献
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Outsourcing and Competition Policy 总被引:1,自引:0,他引:1
We analyze optimal competition policy by a Competition Agency (CA) in a model with two countries, North and South, were a
final good is produced by Northern oligopolistic firms using an input that can either be produced within the firm (vertical
integration) or outsourced to Southern oligopolistic producers with lower labor costs (outsourcing). In the case where the
final good is only consumed in the North, a CA in the South would optimally appropriate outsourcing rents through restrictions
on the degree of competition among domestic firms. If the final good is consumed in both countries, we find that optimal competition
policy in the South is marginally affected by the share of Southern consumption, leaving relatively important incentives to
engage in rent-shifting. For a high enough share of Southern consumption, however, the interaction between the Northern and
Southern CA is shown to be of the Prisoner’s Dilemma type, whereby the Nash equilibrium is Pareto-suboptimal and mutual cooperation
on competition policy is globally desirable. 相似文献
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