WorldCat Identities

World Bank Development Research Group Trade

Overview
Works: 485 works in 845 publications in 1 language and 10,965 library holdings
Genres: Commercial treaties 
Classifications: HG3881.5.W57, 382.095
Publication Timeline
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Most widely held works by World Bank
The east Asian crisis : investigating causes and policy responses by Warwick J McKibbin( Book )

4 editions published in 1999 in English and held by 73 WorldCat member libraries worldwide

August 1999 The primary cause of the East Asian crisis was a fundamental reassessment of the profitability of investments in the region. As a policy response, temporary fiscal expansion generally appears preferable to monetary expansion or to permanent fiscal expansion. McKibbin and Martin identify as the primary cause of the East Asian crisis a fundamental reassessment of the profitability of investments in the region. They identify a number of secondary shocks as well, including interest risk premia, monetary expansion, and declines in output brought about by failures of the financial market. Unlike the Latin American crisis of the 1980s, the East Asian crisis did not reflect commodity price shocks, large changes in world interest rates, fiscal imbalances, or inflationary shocks. It involved large-scale borrowing abroad, but by the private sector rather than the government - and for the normally well-regarded purpose of funding capital investment. It seems unlikely that terms of trade shocks or changes in exchange rates due to pegging to the dollar could, alone, have caused an adjustment crisis of this magnitude - although they could have helped trigger the crisis. More important, expectations of future growth in returns to the corporate sector began to fall. Declines in asset valuations caused major shifts in investment portfolios, and the consequences of asset market shocks were compounded by secondary shocks associated with the abrupt shift to floating rates, concerns about the credibility of government policies, weaknesses in financial sectors, and inadequacies in the mechanisms for corporate restructuring and liquidation. McKibbin and Martin use a forward-looking modeling framework to capture some of the major interactions between asset markets, output, and trade in the countries worst hit by the crisis. They find that the model is able to capture the main features of the crisis. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to understand the links between trade and growth. Will Martin may be contacted at wmartin1@worldbank.org
Production sharing in East Asia : who does what for whom and why by Francis Ng( Book )

4 editions published in 1999 in English and held by 73 WorldCat member libraries worldwide

Components have been a dynamic leading sector in East Asian imports and exports. East Asian global exports of parts and components totaled $278 billion in 1996; imports, $12 billion less. Components now account for a fifth of East Asian exports of manufactures
Adjusting to trade policy reform by Steven J Matusz( Book )

3 editions published in 1999 in English and held by 71 WorldCat member libraries worldwide

A survey of more than 50 empirical papers shows that the adjustment costs of trade liberalization are small relative to the benefits. Moreover, manufacturing employment typically increases with trade liberalization. The limited data suggests that trade liberalization reduces poverty
Who determines Mexican trade policy by Jean-Marie Grether( Book )

4 editions published in 1999 in English and held by 70 WorldCat member libraries worldwide

During a period of trade liberalization (1985-89), when Mexican manufacturing experienced an important inflow of foreign direct investment, manufacturing sectors with heavy foreign direct investment received greater protection in import-competing sectors. With the move toward greater openness, the influence of industrial and foreign-investor lobbying on policy formation was reduced
Financial services and the World Trade Organization : liberalization commitments of the developing and transition economies by Aaditya Mattoo( Book )

4 editions published in 1999 in English and held by 70 WorldCat member libraries worldwide

September 1999 Financial services negotiations through the World Trade Organization have helped many developing and transition economies develop more stable and transparent policy regimes, and their commitments in no way compromise their ability to pursue sound macroeconomic and regulatory policies. But the Asian and Latin American participants, especially, held back on commitments to financial liberalization. And there was less emphasis on introducing competition by allowing new entry than on allowing (or maintaining) foreign equity participation and protecting the position of incumbents. Mattoo analyzes the results of the financial services negotiations under the World Trade Organization's General Agreement on Trade in Services (GATS). He shows that the negotiations have contributed to more stable and transparent policy regimes in many developing and transition economies and that the commitments in no way compromise the countries' ability to pursue sound macroeconomic and regulatory policies. But even though the number of countries that participated in the eventual agreement was impressive, the liberalizing content of commitments was in many cases quite limited. Numerical estimates suggest that in general the African and Eastern European participants made much more liberal commitments than the Asian and Latin American participants. On the whole, the outcome probably reflects how each participant balances the benefit of unilateral commitments against the benefit of retaining bargaining chips for future multisectoral negotiations. Two aspects of the outcome cause concern: There has been less emphasis on introducing competition by allowing new entry than on allowing (or maintaining) foreign equity participation and protecting the position of incumbents. Where it was deemed infeasible to introduce competition immediately, participants have taken little advantage of the GATS to lend credibility to liberalization programs by precommitting to future market access. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to advance research on trade in services. The author may be contacted at amattoo@worldbank.org
Exchange rate overvaluation and trade protection : lessons from experience by Howard J Shatz( Book )

4 editions published in 2000 in English and held by 70 WorldCat member libraries worldwide

Lessons from world experience about the consequences of exchange rate overvaluation (the frequent cause of trade crises), the consequences of trying to defend an overvalued exchange rate, and the most appropriate policies for resolving an overvaluation
India and the multilateral trading system after Seattle : toward a proactive role by Aaditya Mattoo( Book )

4 editions published in 2000 in English and held by 68 WorldCat member libraries worldwide

Mattoo and Subramanian argue that india should engage more actively in the multilateral trading system, to help facilitate and consolidate domestic reform and to gain access to export markets for India's goods and services
Foreign-owned capital and endogenous tariffs by M Olarreaga( Book )

3 editions published in 1999 in English and held by 68 WorldCat member libraries worldwide

The increase in investment abroad during the past two decades may help explain the simultaneous worldwide rush toward free trade. The entry of foreign capital may change the political game, increasing openness to international trade no matter what form the foreign capital takes (whether entering by acquiring equity in existing domestic firms or by bringing foreign firms into the host economy) or what its trade orientation (whether it enters the export or import-competing sector)
On the size and number of regional integration arrangements : a political economy model by Soamiely Andriamananjara( Book )

3 editions published in 1999 in English and held by 67 WorldCat member libraries worldwide

May 1999 Left alone, the current wave of regional trade agreements will probably not lead to global free trade. Vigorous multilateral trade agreements-encouraging open membership policies and the lowering of external tariffs when internal tariffs are removed-are essential to fully liberalizing the global trading system. Will the current wave of regional integration arrangements lead to the world being divided into competing inward-looking trading blocs? Or will it lead to a more open multilateral trading system? Using a multicountry political economy model, and after having shown that global free trade is optimal, Andriamananjara investigates the possibility of achieving it through regionalism. An outsider country considering entering a trading bloc must weigh the tradeoff between the costs of opening its own market to more foreign competition and the gains from getting better access to the bloc's preferential market. The gain of access is always larger, so an outsider would always want to apply for membership in the existing bloc. If the bloc policy is open membership, its expansion would result in global free trade. But if member countries can accept or reject new members, expansion of the bloc is unlikely to yield global free trade. When deciding whether to accept or reject a new member, an insider compares the gains from getting preferential access to the new member's market with the losses from having to share its original preferential market with the new member. When the bloc is small, the gains are large enough to offset the losses, so insiders are willing to accept new members. As the bloc expands, the insiders' incentive for expanding decreases, eventually to zero. If only one regional integration arrangement were allowed to form, insiders would stop accepting new members when half the world belonged to the bloc. The remaining outsiders would probably form a bloc of their own, which would lead members of the original bloc to increase its size in anticipation of the creation of the second bloc. The threat of regionalism by outsiders would foster larger regional integration arrangements. In this model, the typical subgame perfect equilibrium would be two blocs, one of them containing roughly two-thirds of the world, the other containing roughly one-third. Even if blocs form and merge simultaneously, yielding progressively larger symmetrical blocs, they would fail to converge in a single bloc unless the external tariff were low enough. In other words, global free trade could be achieved through bloc expansion if trading blocs lowered their external tariffs when abolishing their internal tariffs. This paper-a product of Trade, Development Research Group-is part of a larger effort in the group to examine the economics of regionalism and development. The author may be contacted at soamiely@wam.umd.edu
Eliminating excessive tariffs on exports of least developed countries by Bernard M Hoekman( Book )

4 editions published in 2001 in English and held by 66 WorldCat member libraries worldwide

Average most-favored-nation tariffs in the "Quad" (Canada, the European Union, Japan, and the United States) have fallen to about 5 percent. But tariffs more than three times the average most-favored-nation duty are not uncommon in the Quad and have a disproportionate effect on exports of least developed countries. Giving the poorest countries duty-free access for peak-tariff products would increase their total annual exports by roughly $2.5 billion
Can no antitrust policy be better than some antitrust policy? by Aaditya Mattoo( Book )

5 editions published in 1999 in English and held by 65 WorldCat member libraries worldwide

Partial antitrust policy may lead to less competitive market structures than the total absence of such policy. There may sometimes even be a case for the government providing incentives for particular forms of merger
Estimating the poverty impacts of trade liberalization by Jeffrey J Reimer( Book )

3 editions published in 2002 in English and held by 65 WorldCat member libraries worldwide

As a new round of World Trade Organization negotiations is being launched with greater emphasis on developing country participation, a body of literature is emerging which quantifies how international trade affects the poor in developing countries. In this survey of the literature, Reimer summarizes and classifies 35 trade and poverty studies into four methodological categories: cross-country regression, partial-equilibrium and cost-of-living analysis, general-equilibrium simulation, and micro-macro synthesis. These categories include a broad range of methodologies in current use. The continuum of approaches is bounded on one end by econometric analysis of household expenditure data, which is the traditional domain of poverty specialists, and sometimes labeled the "bottom-up" approach. On the other end of the continuum are computable general equilibrium models based on national accounts data, or what might be called the "top-down" approach. Another feature of several recent trade and poverty studies--and one of the primary conclusions to emerge from the October 2000 "Conference on Poverty and the International Economy" sponsored by Globkom and the World Bank--is the recognition that factor markets are perhaps the most important link between trade and poverty, since households tend to be much more specialized in income than they are in consumption. Meanwhile, survey data on the income sources of developing-country households has become increasingly available. As a result, this survey gives particular emphasis to the means by which studies address factor market links between trade and poverty. The general conclusion of Reimer's survey is that any analysis of trade and poverty needs to be informed by both the bottom-up and top-down perspectives. Indeed, recent "two-step" micro-macro studies sequentially link these two types of frameworks, such that general equilibrium mechanisms are incorporated along with detailed household survey information. Another methodology in a similar spirit and also increasingly used involves incorporating large numbers of surveyed households into a general-equilibrium simulation model. Although most of these studies have so far been limited to a single region, these approaches can be readily adapted for multi-region modeling so that trade and poverty comparisons can be made across countries within a consistent framework. This paper--a product of Trade, Development Research Group--is part of a larger effort in the group to understand the impact of trade reform on poverty. The author may be contacted at reimerj@purdue.edu
Shaping future GATS rules for trade in services by Aaditya Mattoo( )

4 editions published in 2001 in English and held by 62 WorldCat member libraries worldwide

The General Agreement on Trade in Services (GATS) has created a more secure environment for trade in services, but it has not created the negotiating momentum to reduce protection or the rules to ensure that protection takes a considerable form. In dealing with the trade-impeding impact of domestic regulators, it has achieved even less
Agriculture and the macroeconomy by Maurice W Schiff( )

5 editions published in 1998 in English and held by 61 WorldCat member libraries worldwide

August 1998 This paper surveys the literature on the interaction between agriculture and the macroeconomy in both industrial and developing countries, identifying what the authors believe to represent its most significant contributions and shortcomings. Based on an economywide perspective, this paper begins with a discussion of the bias against exports and agriculture that characterized the economic literature and the development strategies in many developing countries after World War II. This is followed by an analysis of how the macroeconomic environment affects agricultural price incentives. Specifically, the paper discusses how policies concerning industrial protection, exchange rates, and interest rates and other fiscal policies can strongly influence the economic incentives for agriculture compared with other sectors, identifying the most relevant literature and alternative approaches used on this issue. It then proceeds to examine how the real exchange rate can be affected by exogenous shocks, such as the foreign terms of trade, with emphases on the Dutch Disease phenomenon and agriculture. The paper next examines the influence of interest rates on incentives in agriculture, arguing that, surprisingly, this has been a neglected area in the literature. The paper explores the effects on agriculture of structural adjustment programs implemented since the early 1980s in developing countries. The final section surveys the literature on agriculture and the macroeconomy in industrial countries, focusing on the impact of the exchange rate on export competitiveness in the United States, the cost of agricultural protection for the overall economy in Europe and Japan, and the increased importance of fluctuations in money markets for the farm sector and the additional instability they generate. This paper-a joint product of Trade, Development Research Group, and the Rural Development Department-will be published in B. Gardner and G. Rausser, eds., Handbook of Agricultural Economics, North Holland Publishers. Maurice Schiff may be contacted at mschiff@worldbank.org
Liberalizing basic telecommunications the Asian experience by Carsten Fink( )

4 editions published in 2001 in English and held by 60 WorldCat member libraries worldwide

Despite the move away from traditional public monopolies, most Asian governments are still unwilling to allow unrestricted entry in telecommunications, eliminate limits on private and foreign ownership, and establish strong, independent regulators. But where comprehensive reform has been undertaken (including privatization, competition, and regulation) the availability of main lines, the quality of service, and the productivity of labor are significantly higher
Regional integration and development in small states by Maurice W Schiff( )

4 editions published in 2002 in English and held by 58 WorldCat member libraries worldwide

Small states should pursue unilateral and multilateral trade liberalization, and members of the African, Caribbean, and Pacifice (ACP) group should expand reciprocal agreements with the European Union (Cotonou Agreement) to the entire OECD. They should intensify South-South regional cooperation in the area of regional public goods
Trade policy, standards, and development in Central America by Gary Clyde Hufbauer( )

5 editions published in 2001 in English and held by 58 WorldCat member libraries worldwide

Faster economic growth and expansion of exports in Central America in the 21st century will depend on many factors. These include efficient and modern standards systems and an end to technical barriers to trade. Regional efforts can be an efficient way to modernize standards systems
Antidumping as safeguard policy by J. M Finger( )

5 editions published in 2001 in English and held by 57 WorldCat member libraries worldwide

Developing countries are now using antidumping more frequently than its traditional users such as the United States. It has become a real threat to continuing liberalization by Developing countries
International provision of trade services, trade, and fragmentation by Alan V Deardorff( )

4 editions published in 2001 in English and held by 56 WorldCat member libraries worldwide

February 2001 By reducing the costs of such trade services as transport, insurance, and finance, liberalizing trade in services can generate benefits in the markets for every kind of trade they facilitate. It can also stimulate the fragmentation of production of both goods and services, thus increasing international trade and the gains from trade even further. Deardorff examines the special role that trade liberalization in services industries can play in stimulating trade in both services and goods. International trade in goods requires inputs from such trade services as transportation, insurance, and finance, for example. Restrictions on services across borders and within foreign countries add costs and barriers to international trade. Liberalizing trade in services could also facilitate trade in goods, providing more benefits than one might expect from analysis merely of the services trade. To emphasize the point, Deardorff notes that the benefits for trade are arguably enhanced by the phenomenon of fragmentation. The more that production processes become split across locations, with the fragments tied together and coordinated by various trade services, the greater the gains from reductions in the costs of services. The incentives for such fragmentation can be greater across countries than within countries because of the greater differences in factor prices and technologies. But the service costs of international fragmentation can also be larger, especially if regulations and restrictions impede the international provision of services. As a result, trade liberalization in services can stimulate the fragmentation of production of both goods and services, thus increasing international trade and the gains from trade even further. Since fragmentation seems to characterize an increasing portion of world specialization, the importance of service liberalization is growing apace. This paper--a product of Trade, Development Research Group--is part of a larger effort in the group to improve trade policy in goods and services. The author may be contacted at alandear@umich.edu
Implications for South Asian countries of abolishing the Multifibre Arrangement by Sanjay Kathuria( )

4 editions published in 2001 in English and held by 55 WorldCat member libraries worldwide

Modeling results suggest that South Asia as a whole will gain from the abolition of the quotas under the Multifibre Arrangement. Unambiguously, however, the gains from domestic reform will increase after the abolition of the arrangement as export demand becomes more price responsive
 
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Alternative Names
World Bank. Development Research Group. Trade Team

Languages
English (80)