After years of despair about the decline of manufacturing, policymakers in advanced economies now are talking about a rosier future. Wages have risen quickly in coastal China and other offshore locations, and have stagnated or fallen in advanced economies. Severe weather events, such as the Japanese tsunami and Bangkok floods, have exposed the fragility of global supply chains.
Making a future for manufacturing in advanced economies
Richard Dobbs, 8 February 2013
Spatial disparities in India: Have Mumbai and Chennai become too congested?
Klaus Desmet, Ejaz Ghani, Stephen D O'Connell, Esteban Rossi-Hansberg , 13 June 2012
In the last two decades the Indian economy has been growing at unprecedented rates, but that development has led to widening spatial disparities. While some cities such as Hyderabad have become major high-tech hubs with world-class companies and real estate developments reminiscent of Silicon Valley, many other places remain mired in poverty and stagnation.
Are China and India converging?
Ejaz Ghani, 23 January 2012
Both China and India have attracted global attention for rapid growth, but their growth patterns are very different (Rajan 2006, Pack 2008, Bosworth and Maertens 2010). China took the conventional route of manufacturing-led growth and is recognised as a global leader in manufactured exports.
Has production become more fragmented? International vs domestic perspectives
Thibault Fally, 10 January 2012
Production seems more complex and fragmented today than ever before. For instance, airplanes are made of zillions of parts involving many suppliers from various countries (see eg www.newairplane.com).
Manufacturing is special
Dani Rodrik, 9 November 2011
Poor countries have access to world markets, off-the-shelf technologies developed by others, and rich countries’ savings. So in principle, they should develop rapidly – more rapidly than advanced economies, which are already at the technological frontier. Yet the historical record belies this expectation.
Immigration, offshoring and US jobs
Gianmarco I.P. Ottaviano, Giovanni Peri, Greg C Wright, 18 November 2010
Manufacturing production and employment in the US has been in decline over recent decades. This loss of jobs is often blamed on a combination of multinational firms relocating jobs abroad and immigrant workers increasing competition in the labour market. But measuring the impact of globalisation on jobs is more difficult than that, even if many choose not to believe it.
Can the US manufacture employment through exports?
Michael J Ferrantino, Danielle Trachtenberg, Alison Weingarden, 5 August 2010
The US economy has shifted from production to services. The Dow Jones index, which was formerly populated by companies like US Steel and Amalgamated Copper, is now composed of companies like Citigroup, Microsoft, and Wal-Mart. Last year the manufacturing sector accounted for 11% of US GDP, whereas finance, insurance, and real estate alone accounted for roughly 20% (BEA 2009a).
Has China de-industrialised other developing countries?
Adrian Wood, Jörg Mayer, 28 July 2009
The least disputable of China’s impacts on the world has been the explosion of studies of China’s impact on the world.1 Many such studies have tried to measure the effects on trade or output in other countries. They have reached widely varying conclusions by a wide variety of methods: inspection of trade data (e.g. Lall et al.
Are offshoring firms superstars? Evidence from Italy
Lorenzo Casaburi, Valeria Gattai, G. Alfredo Minerva, 8 April 2008
In a recent article published on Vox,(1) Thierry Mayer and Gianmarco Ottaviano suggested six policy questions that should be prioritised in the empirical investigation of European firms and their response to globalization. One of these questions concerns the link between international fragmentation of the production process and firms’ performance.
What India must do to modernise
Arvind Panagariya, 15 January 2008
A key advantage claimed for the outward-oriented development strategy is that it allows poor, labour-abundant countries to specialise in labour-intensive products and, thus make efficient use of limited capital stocks. To quote Anne O.
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Public debt and economic growth, one more timePanizza, Presbitero
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- Do entrepreneurs matter?Becker, Hvide
- 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
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Reichlin, Baldwin, 14 April 2013
CEPR Policy Research
- Political Credit Cycles: The Case of the Euro ZoneFernández-Villaverde, Garicano, Santos
- Winning by Losing: Incentive Incompatibility in Multiple QualifiersDagaev, Sonin
- Income and schoolingBrückner, Gradstein
- Monetary Policy and Rational Asset Price BubblesGalí
- Does Supporting Passenger Railways Reduce Road Traffic Externalities?Lalive, Luechinger, Schmutzler
- How the EZ crisis is permanently changing EU institutionsMicossi
- WTO 2.0: Global governance of supply-chain tradeBaldwin
- Is US economic growth over? Faltering innovation confronts the six headwindsGordon
- The economic crisis: How to stimulate economies without increasing public debtWood
- Austerity: Too Much of a Good Thing?Corsetti