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

Roads to deeper European integration

Henrik Braconier, Mauro Pisu 20 February 2014

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Over the past 60 years, increasing European integration has brought peace and security, besides contributing to large social welfare gains (through lower prices and a larger variety of products). Still, national borders matter a lot within Europe and a vast literature has documented the large negative effect of national borders on trade – also known as the border effect (Nitsch 2000, Head and Mayer 2000, Anderson and van Wincoop 2003, de Serres et al. 2001, Chen 2004).

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Topics:  International trade

Tags:  trade costs, infrastructure

Trade costs in the developing world: 1995-2010

Jean-François Arvis, Yann Duval, Ben Shepherd, Chorthip Utoktham 17 March 2013

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Why are trade costs important?

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Topics:  International trade

Tags:  trade costs

Do falling trade costs benefit all countries equally?

Dennis Novy 11 October 2012

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When the Great Recession hit in 2008, many countries experienced a collapse of their exports and imports. For example, US exports went down by around 25% between 2008 and 2009, and Japanese exports declined by a staggering 40%. This Great Trade Collapse has attracted a lot of attention (see Baldwin 2009). Leading explanations include a sharp drop in demand and a trade-credit crunch.

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Topics:  International trade

Tags:  Gravity, trade costs, Trade barriers

Temporary trade: Exporting only once in a while

Gábor Békés, Balázs Muraközy 20 September 2012

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Empirically, there is a hump-shaped curve relating export diversification and economic development (Cadot et al. 2011). Many countries on the rising part of the curve seek to diversify their exports (in terms of shipped products and destinations) as a way of boosting income or reducing risk.

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Topics:  International trade

Tags:  trade costs, temporary trade, export diversification

There goes gravity: How eBay reduces trade costs

Marcelo Olarreaga, Andreas Lendle, Simon Schropp, Pierre-Louis Vézina,

Date Published

Sun, 08/19/2012

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Gravity, trade costs, eBay, online trade

The 1967-75 Suez Canal closure: Lessons for trade and the trade-income link

James Feyrer 23 December 2009

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Does the removal of trade barriers increase trade? Does trade increase income? These questions are crucial for thinking about the impact of trade liberalisation and yet they are extremely difficult to answer. Ever since Smith and Ricardo, economists have firmly believed that trade increases income. The correlation between trade and income at the country level has been extensively documented (Sachs and Warner 1995, Dollar 1992 and Edwards 1998), but it is hard to know whether trade increases income or income increases trade.

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Topics:  International trade

Tags:  growth, trade policy, trade costs

Explaining two trade busts: Output vs. trade costs in the Great Depression and today

Douglas L. Campbell, Christopher M. Meissner, Dennis Novy, David Jacks 19 September 2009

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If the world economy is now in “purgatory,” as Paul Krugman recently suggested on a TV talk show, global trade has gone to hell and not yet returned. Between July of 2008 and February of 2009, nominal world trade plummeted by 42%.

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Topics:  Economic history International trade

Tags:  Great Depression, trade costs, trade slump

Revisiting the death of distance

David Jacks 12 September 2009

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Since Cairncross (1997), the notion of the “death of distance” has gained traction, both in the work of academics but more especially in the popular image of globalisation. Citing radical improvements in the cost and efficacy of long-distance communication and transportation, Cairncross depicts a world marked by the free movement of goods, people, and ideas. Unfortunately, this prognosis has been difficult to identify in present-day trade data.

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Topics:  Economic history International trade

Tags:  globalisation, trade costs, distance

The limits to offshoring

Wolfgang Keller, Stephen Yeaple 17 March 2009

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Offshoring is the movement of jobs to other countries. While this may raise overall welfare, it means lower employment opportunities and possibly lower wages domestically. Offshoring is the major cause for the decline in self-reported work life quality in many countries. For example, in the US there are six workers that view offshoring negatively for every one worker that sees it as a positive influence (Pew Center 2006). Such a negative impression makes public policy backlash likely. No less important for the policy debate is offshoring’s prevalence.

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Topics:  International trade Labour markets

Tags:  offshoring, trade costs, technology transfer, multinational companies

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