New evidence on trade liberalization and productivity growth

Although the subject of a large number of studies, the debate on the links between trade reform and productivity growth is still unresolved and most studies at the micro level have not been able to establish a relationship between the two phenomena. Brazil provides a natural experiment to study this issue that is seldom available: it was one of the closest economies in the world until 1988, when trade reform was launched, and intra-industry data are available on an annual basis before, during and after liberalization. Using a panel of industry sectors this paper tests and measures the impact of trade reform on productivity growth. Results confirm the association between the former and the latter and show that the magnitude of the impact of tariff reduction on the growth rates of TFP and output per worker was substantial. Our data reveal large and widespread productivity improvement, so that the estimations in this paper are an indication that liberalization had an important effect on industrial performance in the country. Cross-sectional differences in protection are also investigated.

Agreements and disputes over non-tariff measures

In trade agreements, governments can design remedies to ensure compliance (property rule) or to compensate victims (liability rule). This paper describes an economic framework to explain the pattern of remedies over non-tariff restrictions—particularly domestic subsidies and nonviolation complaints subject to liability rules. The key determinants of the contract form for any individual measure are the expected joint surplus from an agreement and the expected loss to the constrained government. The loss is higher for domestic subsidies and nonviolations because these are the policies most likely to correct domestic distortions. Governments choose property rules when expected gains from compliance are sufficiently high and expected losses to the constrained country are sufficiently low. Liability rules are preferable when dispute costs are relatively high, because inefficiencies in the compensation process reduce the number of socially inefficient disputes filed.

Are the antiglobalizers right?: the issue of trade without a Walrasian auctioneer

This paper analyzes the determinants of expectational coordination on the perfect foresight equilibrium of an open economy in the class of one-dimensional models where the price is determined by price expectations. In this class of models, we relate autarky expectational stability conditions to regional integration ones, providing an intuitive open economy interpretation ofthe elasticities condition obtained by Guesnerie [11]. There, we show that the degree of structural heterogeneity trades-off the existence of standard efficiency gains -due to the increase in competition (spatial price stabilization)- and coordination upon the welfare enhancing free-trade equilibrium (stabilizing price expectations). This trade-off provides a new rationale for an exogenous price intervention at the international levei. Through the coordinational concern of the authority, trading countries are ab]e to fully reap the bene:fits from trade. We illustrate this point showing that classical measures evaluating ex-ante the desirability of economic integration (net welfare gains) do not always advise integration between two expectationally stable economies.

On the effects of non-tariff measures on Brazilian exports

This article proposes an alternative methodology for estimating the effects of non-tariff measures on trade flows, based on the recent literature on gravity models. A two-stage Heckman selection model is applied to the case of Brazilian exports, where the second stage gravity equation is theoretically grounded on the seminal Melitz model of heterogeneous firms. This extended gravity equation highlights the role played by zero trade flows as well as firm heterogeneity in explaining bilateral trade among countries, two factors usually omitted in traditional gravity specifications found in previous literature. Last, it also proposes a economic rationale for the effects of NTM on trade flows, helping to shed some light on its main operating channels under a rather simple Cournot’s duopolistic competition framework.

On the effects of non tariff measures on Brazilian exports

This article proposes an alternative methodology for estimating the effects of non-tariff measures on trade flows, based on the recent literature on gravity models. A two-stage Heckman selection model is applied to the case of Brazilian exports, where the second stage gravity equation is theoretically grounded on the seminal Melitz model of heterogeneous firms. This extended gravity equation highlights the role played by zero trade flows as well as firm heterogeneity in explaining bilateral trade among countries, two factors usually omitted in traditional gravity specifications found in previous literature. Last, it also proposes a economic rationale for the effects of NTM on trade flows, helping to shed some light on its main operating channels under a rather simple Cournot’s duopolistic competition framework

Trade regulation of exchange rates

O presente estudo busca analisar o quadro regulatório internacional referente a medidas cambiais que trazem impactos no comércio. O artigo pretende explorar como a questão do câmbio se relaciona à OMC e afeta seus instrumentos e princípios para, em seguida, buscar dispositivos nos Acordos da OMC que poderiam ser aplicados à questão cambial a fim de reequilibrar os impactos causados pelos desalinhamentos cambiais no comércio internacional

Illegal trade of the guitarfish Rhinobatos horkelii on the coasts of central and southern Brazil: genetic identification to aid conservation

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Trade and the environment in the context of the World Trade Organization

Includes bibliography

Latin America's experience in dispute settlement within WTO: the cases of technical standards, sanitary and phytosanitary measures and intellectual property

Includes Bibliography

Multilateral rules on competition policy: an overview of the debate

Includes bibliography

Trade in services in Latin America and the Caribbean: an analysis of recent trends

Includes bibliography

Trade, direct investment and production policies

Includes bibliography

Trade liberalization in Latin America

Includes bibliography

The Caribbean countries and the Free Trade Area of the Americas

Includes bibliography

Trade openness and structural change in the Brazilian motor industry

Includes bibliography