Special agents series /

Description based on: No. 34, published in 1910.

The GATT negotiations and U.S. trade policy.

Mode of access: Internet.

Magyarország aszimmetrikus kereskedelmi függősége az integrációs profil szemszögéből (Hungary’s assimetric trade dependency)

A tanulmány az integrációs profil szempontjából fontos külkereskedelmi aszimmetrikus függőség kérdését járja körbe Németország vonatkozásában. A tanulmány célja azon kérdések megválaszolása, hogy a Németországhoz fűződő kereskedelmi függőség földrajzi eloszlása – és ezzel Magyarország integrációs profilja – változott-e jelentősen a 2004-es teljes jogú tagsággal, illetve a jelen gazdasági válság következtében előtérbe kerülő és láthatóan átalakuló EU-n belüli centrum-periféria viszony módosulásának van-e bármi jele a magyar külkereskedelem földrajzi aspektusában? _____ The short study analyses the Hungarian trade-related asymmetric dependency regarding the German economy. The paper seeks to analyse how the foreign trade related Hungarian integration profile was affected by the EU-accession back in 2004, and whether the dependency detected in the country’s trade relations reveals any signs of the emergence of a centre-periphery within the European Union.

Economic reform, allocative effiency and terms of trade

It has widely been agreed that the distorted price system is one of the causes of inefficient ecooomic decisions in centrally planned economies. The paper investigates the possible effect of a price reform on the allocation of resources in a situation where micro-efficiency remains unchanged. Foreign trade and endogenously induced terms-of-trade changes are focal points ín the multisectoral applied general equilibrium analysis. Special attention is paid to some methodological problems connected to the representation of foreign trade in such models. The adoption of Armington's assumption leads to an export demand function and this in turn gives rise to the question of optimal export structure, different from the equilibrium one-an aspect so far neglected in the related literature. The results show, that the applied model allows for a more flexible handling of the overspecialization problem, than the linear programming models. It also becomes evident that the use of export demand functions brings unwanted terms-of-trade changes into the model, to be avoided by a suitable reformulation of the model. The analysis also suggests, that a price reform alone does not significantly increase global economic efficiency. Thus the effect of an economic reform on micro-efficiency appears to be a more crucial factor. The author raises in conclusion some rather general questions related to the foreign trade practice of small open economies.

The impacts of trade policy reforms on the Sri Lankan economy

This dissertation presents an analysis of the impacts of trade policy reforms in Sri Lanka. A Computable General Equilibrium (CGE) model is constructed with detailed description of the domestic production structure and foreign trade. The model is then used to investigate the effects of trade policy reforms on resource allocation and welfare.^ Prior to 1977, Sri Lanka maintained stringent control over its imports through rigid quantitative restrictions. A new economic policy reform package was introduced in 1977, and it shifted Sri Lanka's development strategy toward an export oriented policy regime. The shift of policy focus from a restrictive trade regime toward a more open trade regime is expected to have a significant impact on the volume of external trade, domestic production structure, allocation of resources, and social welfare.^ Simulations are carried out to assess the effects of three major policy reforms: (1) a devaluation of the Sri Lanka rupee, (2) a partial or a complete elimination of export duties, and (3) a devaluation-cum-removal of export duties.^ Simulation results indicate that the macroeconomic impact of a devaluation-cum-removal of export duties can be substantial. They also suggest that the resource-pull effects of a devaluation and a devaluation-cum-export duty removal policy are significant. However, the model shows that a devaluation combined with an export duty reduction is likely to be a superior strategy. ^

Tomorrow’s Silk Road: Assessing an EU-China Free Trade Agreement

The Centre for European Policy Studies (CEPS) is an independent policy research institute in Brussels. Its mission is to produce sound policy research leading to constructive solutions to the challenges facing Europe. The views expressed in this book are entirely those of the authors and should not be attributed to CEPS or any other institution with which they are associated or to the European Union. This book, commissioned by the Foreign Trade Association, aims to provide an independent and in-depth contribution on the status of bilateral economic exchanges and persistent trade barriers between the European Union and China. A second objective is to encourage a frank and open dialogue, based on a scientific evaluation and without prejudice, of the possibility of a preferential trade agreement between the two sides. The study was carried out by CEPS, in cooperation with the World Trade Institute at the University of Bern.

Innovation in “low-tech” industries: Portuguese footwear industry

ICEIM – International Conference in Entrepreneurship and Innovation Management, Roma, 17-18 de setembro de 2015.

Constructing a Social Accounting Matrix for Libya

In this paper a Social Accounting Matrix is constructed for Libya for the year 2000. The procedure was divided into three steps. First, a macro SAM was constructed to consistently capture and represent the macroeconomic framework of the Libyan economy in 2000. Second, that macro SAM was disaggregated into a micro SAM incorporating the accounts for individual activities, primary factors and the main economic institutions. But the SAM obtained in this way was not balanced. So in thE final step we balanced the SAM using a cross-entropy procedure in General Algebraic Modelling System (GAMS). This SAM integrates national income, inputoutput, flow-of-funds, and foreign trade statistics into a comprehensive and consistent dataset. The lack of coherent time series data for Libya is a serious obstacle for applied research that uses econometric analysis. Our main intension in constructing this SAM has been one of providing benchmark data for economy-wide analysis using CGE modelling for Libya.

La recerca d'una regulació del comerç internacional de diamants

Els esforços de les campanyes fetes per les ONG van portar a un primer plànol internacional els diamants de guerra - els conflictes lligats als conflictes armats -a finals dels anys noranta. Com a resposta, es va formar el Procés de Kimberley (PK), un fòrum negociador entre estats, ONG i indústria, per debatre possibles solucions que posessin fre al comerç de diamants de guerra. Menys de tres anys després es va adoptar un sistema voluntari de certificació internacional anomenat Sistema de Certificació del Procés de Kimberley (SCPK). El SCPK regula el comerç de diamants en brut certificant tots els diamants legals. Aquest article repassa el problema dels diamants de guerra, explica com una campanya internacional va despertar la consciència sobre el problema, i com el procés de recerca de solucions va culminar en el PK. L’ anàlisi es centra en els diferents actors implicats (ONG, estats i indústria) i les seves interaccions canviants al llarg de la campanya i dels esforços realitzats per crear una regulació internacional. Com a conclusió, es destaquen algunes lliçons fonamentals, en termes analítics i d’acció, derivats d’aquest estudi de cas.

Catalunya i la Comunitat de Madrid com a pols d'atracció de la inversió estrangera directa procedent de l'Asia Oriental (1996-2004)

Aquest document descriu els valors d'inversió estrangera directa de l'Àsia oriental a escala mundial durant el període 1996-2004, per a valorar la dimensió d'aquest tipus d'inversió a Catalunya i a Madrid. Relaciona els valors d'aquesta inversió amb les taxes de comerç exterior amb l'Àsia oriental i amb els valors d'immigració asiàtica a Catalunya i a Madrid.

Globalization and risk sharing

We study the effects of globalization on risk sharing and welfare. Like previous literature, weassume that countries cannot commit to repay their debts. Unlike previous literature, we assumethat countries cannot discriminate between domestic and foreign creditors when repaying theirdebts. This creates novel interactions between domestic and international trade in assets. (i)Increases in domestic trade raise the bene.ts of enforcement and facilitate international trade.In fact, in our setup countries can obtain international risk sharing even in the absence of defaultpenalties. (ii) Increases in foreign trade .i.e. globalization.raise the costs of enforcement andhamper domestic trade. As a result, globalization may worsen domestic risk sharing and lowerwelfare. We show how these e¤ects depend on various characteristics of tradable goods andexplore the roles of borrowing limits, debt renegotiations, and trade policy.

Capital goods imports and investments in Latin America in the mid 1920s

The assessment of Latin American long term economic performance is in urgent need ofmobilizing more data to match the pressing demands of growth analysts. We present asystematic comparison of capital goods imports for 20 Latin American countries in 1925. It relies on both the foreign trade data of the importing countries and of the major exporting countries the industrialized economies of the time. The quality of foreign trade figures is tested; an homogeneous estimate of capital goods imported is derived, and its per capita ranking is discussed providing new light on Latin American development levels before import substitution.