BiblioVault - Books about Economics & Trade

The Impact of Trade and Domestic Policy Reforms in India

A CGE Modeling Approach

Rajesh Chadha, Alan V. Deardorff, Sanjib Pohit, and Robert M. Stern

University of Michigan Press, 1998

Major economic reforms undertaken since 1991 have brought the Indian economy into a new phase of development directed toward becoming globally competitive through the opening of trade, foreign investment, and technology inflows. The private sector is expected to play a lead role, with a corresponding reduction in the role played by the public sector. This book is aimed at analyzing the comparative static effects of selected post-1991 trade and domestic policy reforms on trade, factor prices, economic welfare, and the intersectoral allocation of resources.

The study relies on a computable general equilibrium (CGE) model that has been specially designed to analyze the potential economic effects of India's policy reforms. The model was developed in a collaborative effort involving the National Council of Applied Economic Research in New Delhi and the University of Michigan. Patterned after the Michigan CGE Model of World Production and Trade that has been in use for more than two decades, the India CGE model features closer attention to special characteristics of India's economic structure, including more agricultural sector detail, allowance for state ownership, and administered pricing. The conclusions of the study suggest that the policy reforms will yield increased real returns to land, labor, and capital, and shift the terms of trade in favor of Indian agriculture. Lastly, not only are there efficiency-enhancing intersectoral shifts in resource allocation but there are notable increases in scale economies across the Indian manufacturing sectors.

Rajesh Chadha and Sanjib Pohit are Economists at the National Council of Applied Economic Research in New Delhi. Alan V. Deardorff and Robert M. Stern are Professors of Economics and Public Policy, University of Michigan.

[more]

Industry at the Crossroads

Robert E. Cole, Editor

University of Michigan Press, 1982

The mood of the first U of M U.S.-Japan Auto conference in January 1981 could only be described as electric. People wanted to know what our problems were and how we could begin to solve them. Inherent in the latter issue was the questions, what could we learn from the Japanese? One left the conference with a sense that there was a call for action, a mandate to address the problems facing industry.

The mood, about a year later, at the March 1982 U.S.-Japan Auto Conference was far more subdued. While undoubtedly this reflected the stream of statistics confirming the continually depressed state of the industry, another dynamic was possibly operating as well. Whereas the 1981 conference was "electric," a state of mind which flowed from a certain frustration at seemingly overwhelming difficulties and often vague expectations of what we might learn from the Japanese, the 1982 conference was more "workmanlike" in the sense that speakers discussed specifically what progress was being made in addressing problems. This more subdued, pragmatic approach continued throughout wand was reinforced by workshops held the day after the main conference.

Instead of discussing the virtues of the Just-In-Time system in Japan, speakers addressed the practical problems of introducing such a system in the U.S. firms. Instead of railing about the benefits or failings of regulation of the industry, they discussed what we could reasonably expect from regulation. Instead of exhorting the industry to adopt Japanese practices willy-nilly, they focused on some of the limitations of the Japanese model in a range of different areas. Instead of trying to identify some magic key to Japanese success in the automotive industry, they discussed the interrelationships among various factors. At the same, they continued to explore the basic issues transforming the auto industry worldwide. In this connection, they sought to unravel some of the complexities associated with the internalization of the auto industry and trade obligations under the GATT.

[more]

Institutions and Investments

Foreign Direct Investment in China during an Era of Reforms

Jun Fu

University of Michigan Press, 2000

As China continues to be heralded as a rising economic power, the need for an understanding of its institutional effects--such as investment-related policies, regulations, and laws--on foreign direct investment increases as well. Institutions and Investments employs interdisciplinary perspectives from economics, business, law, and political science to shed light on the interaction between institutional changes and investment patterns and to form a clear picture of investment behavior as China's legal and regulatory infrastructure has developed over the reform years.
Organized into three main parts, the book first discusses the evolution and nature of China's FDI regulatory framework. Part 2 examines the various modes and variant patterns of FDI in China in the reform years. Part 3's central task is to demonstrate a systematic link between institutional changes in China's FDI regulatory framework and the changing patterns of FDI. In conclusion, Jun Fu finds that China has made substantial progress from a command economy to a market system, but that it still has a long way to go before it truly attains a transparent and rule-based system.
This book adds new dimensions to the scholarship on China as a growing economic power and will be of particular interest to international economists, political scientists, and business scholars studying China.
Jun Fu is Associate Professor in the School of Economics and Management, Tsinghua University.

[more]

Integrating the Americas

FTAA and Beyond

Antoni Estevadeordal

Harvard University Press, 2004

Where Latin American government leaders once looked at free trade agreements as solely about trade and trading policies, they are increasingly viewing them as the next beacon of hope in the long and arduous road of economic reform.

Integrating the Americas: FTAA and Beyond discusses how these governments have become embroiled in a larger set of issues affecting both institutions. This work, based on a conference sponsored by the Inter-American Development Bank and the David Rockefeller Center for Latin American Studies, examines how this free trade process is surging ahead, while at the same time taking on a broader set of issues including institutional reform, transparency, the environment, labor, and social cohesion. The payoffs to the strategy of liberalization, privatization, and openness have been meager and disappointing to date. Will the FTAA be able to reverse this and allow Latin America to reap the benefits of globalization?

[more]

Intellectual Property

Trade, Competition, and Sustainable Development The World Trade Forum, Volume 3

Thomas Cottier and Petros C. Mavroidis, Editors

University of Michigan Press, 2003

The incorporation of intellectual property protection into the WTO international trading system has been a milestone in international economic law and has added a new dimension to trade regulation — new rights and obligations and new challenges alike. The contributors, leading scholars and practitioners in the field, provide insights into the legal relationship of the TRIPs Agreement to the GATT 94 and the GATS. The book widens the debate with a thorough discussion on pending and unresolved relations of TRIPs, the WTO, UPOV, the Convention on Biodiversity and Farmers' Rights contained in the FAO International Undertaking, and efforts of the World Bank GCIAR system, including IPGRI. What will be the impact of TRIPs on ownership of plant genetic resources?
Largely a victory for OECD countries, the present state of intellectual property rights has important implications for developing countries. The incorporation of intellectual property rights into the WTO system will eventually change the relationship of trade, competition, and intellectual property. It will equally have to assist in providing equitable sharing of benefits in the use of plant genetic resources. All of these issues are essential for the revision of exclusions from patenting in TRIPs. This volume offers insights into how this difficult task could and should be approached in a balanced manner and will be essential reading for economists and trade and intellectual property lawyers interested in the subject. Moreover, the volume will be relevant to agricultural economists as it addresses complex problems in the interstices of trade, intellectual property, plant genetic resources, and sustainable development.
Thomas Cottier is Professor of European and International Economic Law, University of Bern, and Managing Director, World Trade Institute, University of Bern.
Petros C. Mavroidis is Professor of Law, University of Neuchâtel. He formerly worked in the Legal Affairs Division of the World Trade Organization.
Marion Panizzon is Research Fellow, University of Bern.
Simon Lacey is Research Fellow, University of Bern.

[more]

Intermediaries, Interpreters, and Clerks

African Employees in the Making of Colonial Africa

Edited by Benjamin N. Lawrance, Emily Lynn Osborn, and Richard L. Roberts

University of Wisconsin Press

As a young man in South Africa, Nelson Mandela aspired to be an interpreter or clerk, noting in his autobiography that “a career as a civil servant was a glittering prize for an African.” Africans in the lower echelons of colonial bureaucracy often held positions of little official authority, but in practice these positions were lynchpins of colonial rule. As the primary intermediaries among European colonial officials, African chiefs, and subject populations, these civil servants could manipulate the intersections of power, authority, and knowledge at the center of colonial society.
By uncovering the role of such men (and a few women) in the construction, function, and legal apparatus of colonial states, the essays in this volume highlight a new perspective. They offer important insights on hegemony, collaboration, and resistance, structures and changes in colonial rule, the role of language and education, the production of knowledge and expertise in colonial settings, and the impact of colonization in dividing African societies by gender, race, status, and class.

[more]

International Bankruptcy

The Challenge of Insolvency in a Global Economy

Jodie Adams Kirshner

University of Chicago Press, 2018

With the growth of international business and the rise of companies with subsidiaries around the world, the question of where a company should file bankruptcy proceedings has become increasingly complicated. Today, most businesses are likely to have international trading partners, or to operate and hold assets in more than one country. To execute a corporate restructuring or liquidation under several different insolvency regimes at once is an enormous and expensive challenge.
With International Bankruptcy, Jodie Adams Kirshner explores the issues involved in determining which courts should have jurisdiction and which laws should apply in addressing problems within. Kirshner brings together theory with the discussion of specific cases and legal developments to explore this developing area of law. Looking at the key issues that arise in cross-border proceedings, International Bankruptcy offers a guide to this legal environment. In addition, she explores how globalization has encouraged the creation of new legal practices that bypass national legal systems, such as the European Insolvency Framework and the Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law. The traditional comparative law framework misses the nuances of these dynamics. Ultimately, Kirshner draws both positive and negative lessons about regulatory coordination in the hope of finding cleaner and more productive paths to wind down or rehabilitate failing international companies.

[more]

International Development Policies

Perspectives for Industrial Countries

Sidney Dell

Duke University Press, 1991

In this survey of the field of international development policies, Sidney Dell challenges conventional wisdom and provides a rationale for a more cooperative and constructive approach to world development. Assessing the management of the global economy by the major economic powers and the policies that caused the world economy to lose momentum in the 1970s and 1980s, Dell directs his study to industrial countries which must, he claims, take responsibility for creating an environment favorable to Third World development.
Tracing the fundamental changes of the last forty years in international development policies toward the Third World, Dell details the transformation from a policy of collective responsibility on the part of the international community to the current status, in which the commitment of governments of industrial countries to Third World development is greatly diluted. He examines the growing conflicts in world trade and analyzes the failure of the international economic community to develop a long-run strategy for dealing with the world debt crisis.
Other topics addressed include the future of the international monetary system, the viability of small countries, strategies for development of basic needs, and the prospects for foreign private investment.

[more]

International Differences in Entrepreneurship

Edited by Josh Lerner and Antoinette Schoar

University of Chicago Press, 2010

Often considered one of the major forces behind economic growth and development, the entrepreneurial firm can accelerate the speed of innovation and dissemination of new technologies, thus increasing a country's competitive edge in the global market. As a result, cultivating a strong culture of entrepreneurial thinking has become a primary goal throughout the world.

Surprisingly, there has been little systematic research or comparative analysis to show how the growth of entrepreneurship differs among countries in various stages of development. International Differences in Entrepreneurship fills this void by explaining how a country's institutional differences, cultural considerations, and personal characteristics can affect the role that entrepreneurs play in its economy. Developing an understanding of the origins of entrepreneurs as well as the choices they make and the complexity of their activities across countries and industries are of central importance to this volume. In addition, contributors consider how environmental factors of individual economies, such as market regulation, government subsidies for banks, and support for entrepreneurial culture affect the industry and the impact that entrepreneurs have on growth in developing nations.

[more]

International Dimensions of Monetary Policy

Edited by Jordi Galí and Mark Gertler

University of Chicago Press, 2010

United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy.

In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.

[more]

International Economic Relations

Commission of Inquiry into National Policy in International Economic Relations

University of Minnesota Press, 1934

International Economic Relations was first published in 1934. Minnesota Archive Editions uses digital technology to make long-unavailable books once again accessible, and are published unaltered from the original University of Minnesota Press editions.

[more]

International Economic Transactions

Issues in Measurement and Empirical Research

Edited by Peter Hooper and J. David Richardson

University of Chicago Press, 1991

How the government arrives at its official economic statistics deeply influences the lives of every American. Social Security payments and even some wages are linked to import prices through official inflation rates; special measures of national product are necessary for valid comparisons of vital social indicators such as relative standards of living and relative poverty. Poor information can result in poor policies. And yet, federal statistics agencies have been crippled by serious budget cuts—and more cuts may lie ahead.

Questioning the quality of current data and analytical procedures, this ambitious volume proposes innovative research designs and methods for data enhancement, and offers new data on trade prices and service transactions for future studies. Leading researchers address the measurement of international trade flows and prices, including the debate over measurement of computer prices and national productivity; compare international levels of manufacturing output; and assess the extent to which the United States has fallen into debt to the rest of the world.

[more]

International Trade and Human Rights

Foundations and Conceptual Issues (World Trade Forum, Volume 5)

Frederick M. Abbott, Christine Breining-Kaufmann and Thomas Cottier, Editors

University of Michigan Press, 2005

The World Trade Forum 2001 on Trade and Human Rights addressed some of the most controversial and challenging issues in the ongoing public debate on globalization: the relationship between institutions and norms regulating global economic activity and institutions and norms promoting and protecting human rights. Presenting a selection of the papers discussed at the Forum, this volume focuses on a significant, developing area of international law certain to become increasingly important in the years to come, as both scholarship and jurisprudence continue to explore the boundaries of the intersection of the two fields. With a diverse array of contributors, International Trade and Human Rights addresses the relationship between human rights and international trade from a unique and important interdisciplinary perspective.

The missing link between the international trade regime and human rights has become one of the key concerns of critics of the WTO. The World Trade Forum 2001 at the World Trade Institute in Berne provided a unique framework for considering the manifold issues relevant to this topic. This book goes beyond listing the different arguments in favor of or against globalization and offers recommendations to the international community for possible reforms so as to better account for the human rights interests affected by the process of globalization.

Frederick M. Abbott is the Edward Ball Eminent Scholar Professor of International Law at Florida State University College of Law. He is the editor of China in the World Trading System: Defining the Principles of Engagement (1998) and author of The International Intellectual Property System: Commentary and Materials (with Thomas Cottier and Francis Gurry, 1999).

Christine Breining-Kaufmann is Professor of Law at the University of Zurich and Senior Research Fellow as well as a member of the Board of the World Trade Institute in Berne. Her publications include Hunger als Rechtsproblem: Völkerrechtliche Aspekte eines Rechtes auf Nahrung (1991) and Globalization and Labour Rights: The Conflicting Relationship between Core Labour Rights and International Economic Institutions (2006).

Thomas Cottier is Managing Director of the World Trade Institute and Professor of Law at the University of Berne. He has co-edited the previous four volumes of the World Trade Forum series.

[more]

International Trade in East Asia

Edited by Takatoshi Ito and Andrew K. Rose

University of Chicago Press, 2005

The practice of trading across international borders has undergone a series of changes with great consequences for the world trading community, the result of new trade agreements, a number of financial crises, the emergence of the World Trade Organization, and countless other less obvious developments. In International Trade in East Asia, a group of esteemed contributors provides a summary of empirical factors of international trade specifically as they pertain to East Asian countries such as China, Japan, Korea, and Taiwan.

Comprised of twelve fascinating studies, International Trade in East Asia highlights many of the trading practices between countries within the region as well as outside of it. The contributors bring into focus some of the region's endemic and external barriers to international trade and discuss strategies for improving productivity and fostering trade relationships. Studies on some of the factors that drive exports, the influence of research and development, the effects of foreign investment, and the ramifications of different types of protectionism will particularly resonate with the financial and economic communities who are trying to keep pace with this dramatically altered landscape.

[more]

An Introduction to Sustainable Development

Peter Rogers, Kazi F. Jalal, and John A. Boyd

Harvard University Press

An Introduction to Sustainable Development presents the concept and practice of sustainable development as a process that meets the needs of the present generation without compromising the ability of future generations to meet their own needs. This textbook examines the environmental, economic, and social dimensions of sustainable development by focusing on changing patterns of consumption, production, and distribution of resources.

The impact of globalization and the role of the private sector including multinational corporations are discussed. Case materials include domestic and international initiatives and projects; protection of coastal wetlands; development of community-based water supply and sanitation systems; sustainable energy, forest, and industrial development.

[more]

Investing in the Homeland

Migration, Social Ties, and Foreign Firms

Benjamin A.T. Graham

University of Michigan Press, 2019

Once viewed as a “brain drain,” migrants are increasingly viewed as a resource for promoting economic development back in their home countries. In Investing in the Homeland, Benjamin Graham finds that diasporans—migrants and their descendants—play a critical role in linking foreign firms to social networks in developing countries, allowing firms to flourish even in challenging political environments most foreign investors shun.

Graham’s analysis draws on new data from face-to-face interviews with the managers of over 450 foreign firms operating in two developing countries: Georgia and the Philippines. Diaspora-owned and diaspora-managed firms are better connected than other foreign firms and they use social ties to resolve disputes and influence government policy. At the same time, Graham shows that diaspora-affiliated firms are no more socially responsible than their purely foreign peers—at root, they are profit-seeking enterprises, not development NGOs. Graham identifies implications for policymakers seeking to capture the development potential of diaspora investment and for managers of multinational firms who want to harness diasporans as a source of sustained competitive advantage.

[more]