External economic integration is often argued to be an important driver of economic development, as it raises income through specialisation in comparative-advantage sectors, provides low-cost access to imported goods, and shapes the pattern of structural transformation from agricultural into non-agricultural activities.
External integration, structural transformation, and economic development: Evidence from Argentina 1870-1914
Pablo Fajgelbaum, Stephen Redding, 12 July 2014
Gross trade accounting: A transparent method to discover global value chain-related information behind official trade data: Part 2
Zhi Wang, Shang-Jin Wei, Kunfu Zhu, 16 April 2014
Offshoring and middle-income workers in the US
Lindsay Oldenski, 16 October 2012
As the US presidential election approaches, both candidates have been focusing on the state of the middle class. In the first presidential debate, Mitt Romney claimed: "the people who are having the hard time right now are middle income Americans. Under the president's policies, middle income Americans have been buried".
Can China’s growth lower welfare in developed countries? A refutation of the Samuelson conjecture
Julian di Giovanni, Andrei Levchenko, Jing Zhang, 2 April 2012
Can services be the next growth escalator?
Ejaz Ghani, Arti Grover Goswami, Homi Kharas, 12 December 2011
The world is experiencing a third industrial revolution with services trade being at the forefront of this revolution. Services are characterised by growing tradeability, increasing technological sophistication, and lower transport costs.
Development and accumulation of new capabilities: The Index of Opportunities
Jesus Felipe, Utsav Kumar, Arnelyn Abdon, 22 July 2010
Development is about structural transformation. This can be defined as the process by which countries change what they produce and how they do it. It involves a shift in the output and employment structures away move from low-productivity and low-wage activities into high-productivity and high-wage activities; and the upgrading and diversification of the production and export baskets.
Why large American gains from globalisation are plausible
Gary Clyde Hufbauer, Matthew Adler, 24 July 2008
The Peterson Institute calculates that the US economy was approximately $1 trillion richer in 2003 due to past globalisation – the payoff both from technological innovation and from policy liberalisation – and could gain another $500 billion annually from future policy liberalisation (Bradford, Grieco, and Hufbauer 2005).
- Secular stagnation: Facts, causes, and cures – a new Vox eBookTeulings, Baldwin
- Can large primary surpluses solve Europe’s debt problem?Eichengreen, Panizza
- The unrecognised benefits of grade inflationBoleslavsky, Cotton
- The US manufacturing base is surprisingly strongMoran, Oldenski
- Long-term damage of the US court’s Argentinian debt rulingFrankel
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman