On the measurement of trade-induced adjustment |
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Authors: | Abdul?K?M?Azhar Email author" target="_blank">Robert?J?R?ElliottEmail author |
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Institution: | (1) Department of Economics, University of Putra, Edgbaston, B15 2TT Birmingham, Malaysia;(2) Department of Economics, University of Birmingham, Edgbaston, B15 2TT Birmingham, UK |
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Abstract: | Globalisation and closer regional integration have led to significant increases in trade between nations that in turn impacts
on existing long-standing trade partnerships. A consequence of changing trade patterns is an increase in the pressure for
resources to reallocate between industries and sectors. This paper provides an integrated approach to the analysis of trade-induced
adjustment that complements the existing literature. Adjustment pressures are documented in accordance with the theoretical
underpinnings of the smooth adjustment hypothesis and satisfy a number of desirable criteria, monotonicity, consistency and
country specificity. The applicability of the authors' approach is examined using UK manufacturing data. JEL no. F19 |
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Keywords: | Intra-industry trade adjustment costs |
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