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Free Trade (free + trade)
Terms modified by Free Trade Selected AbstractsFREE TRADE, ,PAUPER LABOUR' AND PROSPERITY: A REPLY TO PROFESSOR MISHANECONOMIC AFFAIRS, Issue 1 2006John Meadowcroft In an Economic Viewpoint published in the September 2005 edition of Economic Affairs, ,Can Globalisation Depress Living Standards in the West?', Professor E. J. Mishan argued that globalisation may reduce living standards in the West by decreasing the labour,capital ratio in developed countries as firms move production to countries where labour is cheaper and/or migrants to the West from the developing world bid down wage rates. In a reply to Professor Mishan's article, Dr John Meadowcroft argues that this view of globalisation is far too pessimistic and explains why free trade, not protection, will secure the prosperity of developed and developing economies. In a final comment, Professor Mishan responds to this critique of his analysis. [source] BILATERALISM AND FREE TRADE,INTERNATIONAL ECONOMIC REVIEW, Issue 3 2006Sanjeev Goyal We study a setting with many countries; in each country there are firms that can sell in the domestic as well as foreign markets. Countries can sign bilateral free-trade agreements that lower import tariffs and thereby facilitate trade. We allow a country to sign any number of bilateral free-trade agreements. A profile of free-trade agreements defines the trading regime. Our principal finding is that, in symmetric settings, bilateralism is consistent with global free trade. We also explore the effects of asymmetries across countries and political economy considerations on the incentives to form trade agreements. [source] INTERREGIONAL KNOWLEDGE SPILLOVERS AND OCCUPATIONAL CHOICE IN A MODEL OF FREE TRADE AND ENDOGENOUS GROWTH,JOURNAL OF REGIONAL SCIENCE, Issue 5 2009Colin R. Davis ABSTRACT A two region model of horizontal innovation with free trade and occupational choice is used to examine the spatial patterns of innovation and manufacturing industry in interior and core-periphery long-run equilibria. The inclusion of skill heterogeneity among workers creates a tension between stabilizing productivity effects that coincide with reallocations of workers across industries, and destabilizing productivity effects that arise with localized stocks of knowledge capital. We find that while core-periphery equilibria are always saddlepath stable, interior equilibria are saddlepath stable when knowledge spillovers exceed a threshold level but are unstable otherwise. In addition, incorporating skill heterogeneity into the model allows for interior equilibria with asymmetric shares for innovation and industry. [source] From the Corn Laws to Free Trade: Interests, Ideas, and Institutions in Historical Perspective.ECONOMICA, Issue 303 2009By CHERYL SCHONHARDT-BAILEY First page of article [source] What Macroeconomic Measures Are Needed for Free Trade to Flourish in the Western Hemisphere?LATIN AMERICAN POLITICS AND SOCIETY, Issue 2 2004Barry Eichengreen ABSTRACT Recent experience has made clear the importance of macroeconomic stability, and exchange rate stability in particular, in generating support for regional integration. The tensions created by exchange-rate and financial volatility are clearly evident in the recent history of Mercosur and may also hinder the development of a Free Trade Area of the Americas. This essay argues that ambitious schemes for a single regional currency are not a practical response to this problem. Nor would a system of currency pegs or bands be sufficiently durable to provide a lasting solution. Instead, countries must solve this problem at home. In practice, this means adopting sound and stable monetary policies backed by a clear and coherent operating strategy, such as inflation targeting. With such policies in place, exchange rate volatility can be reduced to levels compatible with regional integration. [source] Growth Effects of Free Trade under Increasing ReturnsTHE JAPANESE ECONOMIC REVIEW, Issue 4 2002Ilaria Ossella-Durbal This paper addresses the long-term sustainability of the growth effects from trade, within the context of a dynamic optimization model where the investment sector exhibits an initial phase of increasing returns. It is proved that the qualitative properties of trade and growth remain valid, even for decreasing, rather than constant, returns to scale in the consumption sector. That is, trade enables an economy to escape a "poverty trap" and enjoy unbounded growth. Moreover, the asymptotic long-run growth rate of the optimal consumption levels with trade is determined, establishing that trade has a beneficial effect on long-run growth. JEL Classification Numbers: O41, F12. [source] International Duopoly, Tariff Policy and the Superiority of Free TradeTHE JAPANESE ECONOMIC REVIEW, Issue 2 2000Yutaka Horiba This paper addresses the effectiveness of tariff policy in the long-run production framework in which decisions must be made about plant size and the level of output to be produced by foreign duopolists competing with each other in the importing country's market. We consider two types of tariff regime, discriminatory and uniform, and show that the importing country's welfare is unambiguously higher in the uniform tariff case. We consider free trade in the same production framework and show that, as the long-run capacity decision becomes increasingly relevant relative to the short-run quantity decision, free trade dominates tariffs in welfare rankings. JEL Classification Number: F1. [source] CONSUMING CLASS: Multilevel Marketers in Neoliberal MexicoCULTURAL ANTHROPOLOGY, Issue 3 2008PETER S. CAHN ABSTRACT Since the 1980s, Mexican leaders have followed other Latin American countries in pursuing neoliberal economic policies designed to stimulate foreign investment, reduce public spending, and promote free trade. Recent studies of indigenous movements and popular protests challenge the idea that these market-based economic reforms enjoy a broad consensus and suggest that elites impose them by force. By turning the focus to middle-class Mexicans, I argue that some nonelite sectors of society avidly welcome the reign of the free market. Although they do not profit directly from unregulated capitalism, the middle class looks to neoliberalism to ensure access to the material markers of class status. The rising popularity of multilevel marketing companies in Mexico, which glorify consumption and celebrate the possibilities of entrepreneurship, demonstrates the appeal of neoliberalism to citizens fearful of diminished purchasing power. By tying consumption to globalized free markets, neoliberalism does not need coercion to win acceptance. [source] International Trade Theory and Policy: What is Left of the Free Trade Paradigm?DEVELOPMENT AND CHANGE, Issue 6 2005Sunanda Sen Free trade doctrines have been questioned from the angle of their logical validity as well as relevance. Their replacement by New Trade Theories has been matched by important policy moves on strategic trade and industrial policy in advanced countries. These are defended by the advanced nations, both at inter-governmental levels and in multilateral institutions, largely in the interest of big capital in industry and finance. However, the theoretically discarded principles of free trade are still in use to push trade liberalization in developing countries. An uneven power relation between the rich and poor nations of the world has generated this asymmetric combination of policies in the world economy. Neglect of the macroeconomic issues relating to the national as well as the world economy has led these theories and the related policies to ignore the concerns for growth as well as development. [source] FREE TRADE, ,PAUPER LABOUR' AND PROSPERITY: A REPLY TO PROFESSOR MISHANECONOMIC AFFAIRS, Issue 1 2006John Meadowcroft In an Economic Viewpoint published in the September 2005 edition of Economic Affairs, ,Can Globalisation Depress Living Standards in the West?', Professor E. J. Mishan argued that globalisation may reduce living standards in the West by decreasing the labour,capital ratio in developed countries as firms move production to countries where labour is cheaper and/or migrants to the West from the developing world bid down wage rates. In a reply to Professor Mishan's article, Dr John Meadowcroft argues that this view of globalisation is far too pessimistic and explains why free trade, not protection, will secure the prosperity of developed and developing economies. In a final comment, Professor Mishan responds to this critique of his analysis. [source] IN DEFENCE OF EMPIRES1ECONOMIC AFFAIRS, Issue 4 2003Deepak Lal This article argues the case for empires. They provided global order in the nineteenth century. Their dissolution in the twentieth century resulted in global disorder. A blind spot in the classical liberal tradition was its assumption that international order would be a spontaneous by-product of limited government and unilateral free trade practised at home. This denial of power politics flowed into twentieth-century Wilsonianism. Now, there is no alternative to US imperial power to supply the global Pax. Whether the USA is willing to fulfil this role is open to question. [source] Ticket to trade: Belgian labour and globalization before 19141ECONOMIC HISTORY REVIEW, Issue 2 2008MICHAEL HUBERMAN Standard trade theory, as invoked by political scientists and economists, would anticipate that workers in Belgium, a small Old World country, rich in labour relative to land, were in a good position to benefit from the wave of globalization before 1914. However, wage increases remained modest and ,labour' moved slowly towards adopting a free-trade position. Beginning in 1885, the Belgian labour party backed free trade, but its support was conditional on more and better social legislation. Belgian workers' wellbeing improved in the wave of globalization, but the vehicle was labour and social legislation and not rising wages. [source] HOW DID THE 2003 PRESCRIPTION DRUG RE-IMPORTATION BILL PASS THE HOUSE?ECONOMICS & POLITICS, Issue 1 2006OMER GOKCEKUS We examine the major interest groups in the debate over allowing the re-importation of prescription drugs by utilizing a logit model and instrumental variables. Consistent with political support approach, the evidence suggests that Representatives are maximizing their electoral prospects: contributions from pharmaceutical manufacturers shrink the probability of voting for the bill; and Representatives are sensitive to their constituencies , employees of pharmaceutical manufacturing and senior citizens. Representatives' gender and ideology regarding free trade and subsidies are also determining factors. However, the decision was, by and large, a partisan one: party affiliation was the most important factor in passing the bill. [source] The alcohol industry and trade agreements: a preliminary assessmentADDICTION, Issue 2009Donald W. Zeigler ABSTRACT Aims To review trade agreements, their relation to alcohol control policy and examine the role of the alcohol industry in supporting and attempting to influence trade policy. Methods Review of peer review, public health advocacy literature (both pro and con on free trade), business, press and government documents on trade agreements, assess current and potential challenges by trade agreements to alcohol control policy and investigate the means and extent of industry influence in trade agreements. Findings ,Free' trade agreements reduce trade barriers, increase competition, lower prices and promote alcohol consumption. However, international treaties, negotiated by free trade experts in close consultation with corporate lobbyists and without significant, if any, public health input, governments and corporations contain significant provisions that will result in increased alcohol consumption and may challenge public health measures of other nations as constraints on trade. Conversely, alcohol control measures seek to reduce access and consumption, raise prices and restrict advertising and product promotion. The prospect is for increased alcohol consumption and concomitant problems throughout the world. Conclusions Trade agreements challenge effective alcohol control policies. The alcohol industry seeks to influence agreements and can be expected to work through trade agreements to reduce tariffs, increase market access and seek to restrict effective domestic regulations. Further research is needed on the impact of trade agreements and the ongoing role of the industry. Advocates must recognize the inherent conflicts between unbridled free trade and public health, work to exclude alcohol from trade agreements, counter industry influence and protect alcohol control policies. [source] Fragments of Economic Accountability and Trade PolicyFOREIGN POLICY ANALYSIS, Issue 2 2007RYAN KENNEDY While there has been a prodigious amount of literature on trade policy written in the past two decades, very little of that literature has dealt with countries in economic transition or nondemocratic regimes. There has also been a lack of work dealing with state interests in trade policy beyond realpolitik discussions of national security. This article seeks to fill some of these gaps through a study of two samples: one of liberalization in 25 post-Communist countries between the years 1991 and 1999 and the other of 124 countries from around the world in 1997. The study concludes that a key element in the choice between free trade and protectionism is the level of "fragmentation of economic accountability." Such fragmentation consists of two major components: (1) the existence of a strong capitalist class that is independent of the government; and (2) the dispersion of political power among actors both inside and outside the government. Where the government is more accountable to a wide range of interests, policies are more likely to be aligned with market mechanisms, encouraging the adoption of reforms, including the liberalization of trade policy. This article builds on the conclusions of Frye and Mansfield in several ways: (1) it embeds political fragmentation into a larger theoretical framework of economic accountability of government institutions; (2) it introduces the importance of state ownership in shaping government interests; (3) it introduces an idea of social, not just institutional, accountability; and (4) it proposes a statist view of trade policy that is lacking in the present literature. [source] Manufacturing Reputations in Late Eighteenth-Century BirminghamHISTORICAL RESEARCH, Issue 181 2000Nigel Stirk This article examines the importance of local reputation and collaborative commercial politics for the business practices of individuals in industrializing Birmingham. It is suggested that shared ideas about quality standards, free trade and the national interest were instrumental in encouraging businessmen to work together to establish local representative institutions. Furthermore, these normative conceptions of how trade should be conducted reflected particular interpretations of the history of Birmingham and of individual enterprise. It is concluded that the particular geography of a provincial town was central to the application of principles and abstract ideas. [source] BILATERALISM AND FREE TRADE,INTERNATIONAL ECONOMIC REVIEW, Issue 3 2006Sanjeev Goyal We study a setting with many countries; in each country there are firms that can sell in the domestic as well as foreign markets. Countries can sign bilateral free-trade agreements that lower import tariffs and thereby facilitate trade. We allow a country to sign any number of bilateral free-trade agreements. A profile of free-trade agreements defines the trading regime. Our principal finding is that, in symmetric settings, bilateralism is consistent with global free trade. We also explore the effects of asymmetries across countries and political economy considerations on the incentives to form trade agreements. [source] Common Ground Between Free-Traders and EnvironmentalistsINTERNATIONAL ECONOMIC REVIEW, Issue 3 2001Larry Karp We use a North,South model with property right differences and resource dynamics to study the effects of trade on resource use and welfare. Autarky is likely to Pareto-dominate free trade in the long run when the environment is quite fragile, and the result is reversed when the environment is quite resilient. Trade may cause an environmentally poor country to "drag down" its richer trading partner, when they degrade their stocks which would be preserved under autarky. It may enable the environmentally richer country to "pull up" its partner, when they preserve their stocks which would be degraded under autarky. [source] Economic behaviour and the norms of capitalismINTERNATIONAL SOCIAL SCIENCE JOURNAL, Issue 185 2005Pierre Demeulenaere The idea of moralising the capitalist economy presupposes an idea of morality or justice. If we confine ourselves intuitively to the principle of freedom or non-domination , often connected with a defence of market institutions as well as broader moral justifications , two questions must be asked. Firstly, can profit-oriented economic behaviour secure principles of non-domination? The answer is no, for there is a structural interest in cheating in a prisoner's dilemma situation. Additional normative considerations must be introduced in order to ensure that market norms are respected. The second question is, then, whether moral regard for the principle of non-domination can in itself justify free-trade institutions. Here again the answer is no, inasmuch as various typical features of social existence prevent us from thinking that respect for the pure norms of free trade can be consonant with direct application of this non-domination principle. In fact, actual social existence introduces other norms reflecting other social objectives that may also be derived from a non-domination principle. [source] Golbalisation, Regional Integration, International MigrationINTERNATIONAL SOCIAL SCIENCE JOURNAL, Issue 165 2000Georges Photios Tapinos After having recalled the two-way links between international migration and development and having placed migratory movements in the con-textof globalisation, the author examines the new situation created by the strengthening of immigration control policies and the relevance of the alternative strategy which considers free trade as a substitute for migration. He examines to what extent the effects of economic liberalisation are likely to modify the decision to emigrate. In conclusion, he outlines various impli-cations for migration policies. [source] Nationalist Sources of International Economic IntegrationINTERNATIONAL STUDIES QUARTERLY, Issue 3 2000Stephen Shulman Most scholars of international relations and nationalism presume that nationalist ideology acts uniformly to hinder international economic integration, globalization, and free trade. This article challenges the conventional wisdom by developing an analytical framework of the incentives majority and minority nationalists face in the realm of foreign economic relations. Defining nationalism as the promotion of the autonomy, unity, and identity of the nation, it argues that nationalists have strong possible motivations both for and against close economic ties with foreign nations and states. As a result, oftentimes nationalists must make trade-offs among their goals of autonomy, unity, and identity when developing foreign economic policy preferences. Case studies of nationalist organizations in Quebec, India, and Ukraine that favor a high degree of international economic integration are presented to show the usefulness of the analytical framework. [source] INTERREGIONAL KNOWLEDGE SPILLOVERS AND OCCUPATIONAL CHOICE IN A MODEL OF FREE TRADE AND ENDOGENOUS GROWTH,JOURNAL OF REGIONAL SCIENCE, Issue 5 2009Colin R. Davis ABSTRACT A two region model of horizontal innovation with free trade and occupational choice is used to examine the spatial patterns of innovation and manufacturing industry in interior and core-periphery long-run equilibria. The inclusion of skill heterogeneity among workers creates a tension between stabilizing productivity effects that coincide with reallocations of workers across industries, and destabilizing productivity effects that arise with localized stocks of knowledge capital. We find that while core-periphery equilibria are always saddlepath stable, interior equilibria are saddlepath stable when knowledge spillovers exceed a threshold level but are unstable otherwise. In addition, incorporating skill heterogeneity into the model allows for interior equilibria with asymmetric shares for innovation and industry. [source] The Judicial Transformation of the State: The Case of U.S. Trade Policy, 1974,2004LAW & POLICY, Issue 1 2009NITSAN CHOREV The recent shift in state policies from Keynesianism to neoliberalism was accompanied by a transformation in state structures. The case of trade liberalization in the United States reveals that this structural transformation is of a judicial nature. In 1974, supporters of free trade successfully shifted authority over the management of protectionist claims from Congress to quasi-judicial bodies in the U.S. executive; in 1994, they successfully strengthened the dispute settlement mechanisms of the World Trade Organization. This judicial transformation indicates a shift from sites where decisions are made by way of political negotiations to sites where judges preside over legal disputes. In the article, I identify the political origins of these judicial transformations and discuss the factors that make judicial sites more favorable to neoliberal policies than political sites. [source] An Extension of the Structural Change Model to International Economic RelationsMETROECONOMICA, Issue 4 2003Ricardo Azevedo Araujo ABSTRACT In this paper Pasinetti's model of structural economic dynamics (1981) is extended to consider international economic relations. Conditions for full employment, full expenditure of income and equilibrium of the trade balance are established for an open economy that requires capital goods to produce final commodities. Analytical results concerning the benefits from free trade and international learning are formally studied. In addition, static and dynamic aspects of the ,principle of comparative cost advantage' are analysed considering the determinants of the specialization level. [source] Arthur Farquhar on Economic Delusions: An Examination of the Case for ProtectionAMERICAN JOURNAL OF ECONOMICS AND SOCIOLOGY, Issue 3 2010Article first published online: 24 JUN 2010, Thomas L. Martin Arthur Farquhar (1838,1929) was a successful manufacturer and exporter of mechanical steel farming implements who also took the time to participate in the day's free trade versus protectionism debate. His main contribution to the national tariff debate was the 1891 book Economic and Industrial Delusions: A Discussion of the Case for Protection. The book was written as a direct response to the McKinley Tariff of 1890 and is very much a polemic against the tariff by a disappointed former Republican. This article summarizes his economic analysis of the incidence of the tariff, the relationship between trade competitiveness and relative wages, and the tariff's effect on overall economic development. [source] The Division of Labor Under Homogeneity: A Critique of Mises and RothbardAMERICAN JOURNAL OF ECONOMICS AND SOCIOLOGY, Issue 2 2007Walter Block Even the most passionate defenders of free trade, such as Mises and Rothbard, claim that trade cannot occur under conditions of strict homogeneity of land, labor, and capital. We show that specialization, trade, and the division of labor can emerge even when resources are initially homogenous, due to "natural heterogeneity," economies of scale, and learning. [source] Canada-United States interregional trade: quasi-points and spatial changeTHE CANADIAN GEOGRAPHER/LE GEOGRAPHE CANADIEN, Issue 2 2010MARTIN A. ANDRESEN commerce interrégional; profil des échanges commerciaux; libre échange; Monte Carlo Interregional trade between Canada and the United States has undergone significant change since the inception of free trade. However, the magnitude of that change for the different regions in Canada and the United States has not been properly identified because of a lack of an appropriate measure. This paper introduces the concept of a quasi-point and employs a spatial point pattern test to measure the degree of change in the interregional trade of Canadian provinces and US states, with an emphasis of that change on Ontario. It is found that the degree of change in the interregional trade flows is related to the degree of change in the provincial tariff rates. Les échanges commerciaux interrégionaux entre le Canada et les États-Unis: les quasi-points et les changements spatiaux D'importants changements ont été observés dans le marché canado-américain depuis l'entrée en vigueur du libre-échange. Toutefois, on ne dispose pas de moyen valide pour évaluer l'ampleur des changements à l'échelle des régions nord-américaines. Ainsi, cet article propose le concept du quasi-point et repose sur une étude de la répartition spatiale de points afin d'évaluer l'évolution des échanges commerciaux interrégionaux entre chacune des provinces canadiennes et les autres provinces du Canada ainsi que les états des États-Unis. L'évolution des flux d'échanges commerciaux dépend en effet de l'évolution des droits tarifaires imposés par les provinces. [source] International Duopoly, Tariff Policy and the Superiority of Free TradeTHE JAPANESE ECONOMIC REVIEW, Issue 2 2000Yutaka Horiba This paper addresses the effectiveness of tariff policy in the long-run production framework in which decisions must be made about plant size and the level of output to be produced by foreign duopolists competing with each other in the importing country's market. We consider two types of tariff regime, discriminatory and uniform, and show that the importing country's welfare is unambiguously higher in the uniform tariff case. We consider free trade in the same production framework and show that, as the long-run capacity decision becomes increasingly relevant relative to the short-run quantity decision, free trade dominates tariffs in welfare rankings. JEL Classification Number: F1. [source] Trade Liberalisation and the Australian Labor PartyAUSTRALIAN JOURNAL OF POLITICS AND HISTORY, Issue 4 2002Andrew Leigh The three most substantial decisions to reduce Australia's trade barriers , in 1973, 1988 and 1991 , were made by Labor Governments. Labor's policy shift preceded the conversion of social democratic parties in other countries to trade liberalisation. To understand why this was so, it is necessary to consider trade policy as being shaped by more than interest groups and political institutions. Drawing on interviews with the main political figures, including Gough Whitlam, Bob Hawke, Paul Keating and John Button, this article explores why the intellectual arguments for free trade had such a powerful impact on Labor's leadership, and how those leaders managed to implement major tariff cuts, while largely maintaining party unity. [source] WELFARE IN THE NASH EQUILIBRIUM IN EXPORT TAXES UNDER BERTRAND DUOPOLYBULLETIN OF ECONOMIC RESEARCH, Issue 2 2008Roger Clarke F12; F13; L13 ABSTRACT In the Eaton and GrossmanQuarterly Journal of Economics, 101 (1986), pp. 383,406 model of export taxes under Bertrand duopoly, it is shown that welfare in the Nash equilibrium in export taxes is always higher than welfare under free trade for both countries. [source] | ||||||||||||||||||||||||||||