External integration, structural transformation, and economic development: Evidence from Argentina 1870-1914

Pablo Fajgelbaum, Stephen Redding 12 July 2014

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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. These relationships are typically examined at the aggregate level, implicitly treating each country as a point in space.

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Topics:  Development Economic history International trade

Tags:  integration, comparative advantage, trade costs, Argentina, specialisation

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

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Analytical background

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Topics:  International trade

Tags:  competitiveness, globalisation, trade, comparative advantage, global value chains, global supply chain, statistics

Offshoring and middle-income workers in the US

Lindsay Oldenski 16 October 2012

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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". At the same time, Barack Obama has made the middle class the centrepiece of many of his campaign proposals, with his official website claiming that "President Obama is fighting to grow the economy from the middle class out, not the top down."

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Topics:  International trade

Tags:  offshoring, comparative advantage, polarisation

Can China’s growth lower welfare in developed countries? A refutation of the Samuelson conjecture

Julian di Giovanni, Andrei Levchenko, Jing Zhang 02 April 2012

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Topics:  Global economy International trade

Tags:  China, comparative advantage

Can services be the next growth escalator?

Ejaz Ghani, Arti Grover Goswami, Homi Kharas 12 December 2011

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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. Modern services can now be unbundled and splintered in a value chain just like goods and they can be electronically transported internationally through satellite and telecom networks.

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Topics:  Development International trade Productivity and Innovation

Tags:  comparative advantage, technological change, Services trade, Services sector, PRODY

Development and accumulation of new capabilities: The Index of Opportunities

Jesus Felipe, Utsav Kumar, Arnelyn Abdon 22 July 2010

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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. This process generates sustained growth and enables countries to increase their income per capita.

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Topics:  Development International trade

Tags:  development, growth, international trade, comparative advantage, structural adjustment

Why large American gains from globalisation are plausible

Gary Clyde Hufbauer, Matthew Adler 24 July 2008

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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). Past gains amounted to about 9% of GDP in 2003, and potential future gains constitute another 4%.

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Topics:  Global economy International trade

Tags:  globalisation, US economy, partial equilibrium, comparative advantage, monopolistic competition, economies of scale, productivity gains, safety net