scholarly journals Globalisation or regionalism? States, markets and the structure of international trade

2002 ◽  
Vol 28 (3) ◽  
pp. 519-535 ◽  
Author(s):  
Theodore Pelagidis ◽  
Harry Papasotiriou
Keyword(s):  
International Trade ◽  
Global Economy ◽  
National Level ◽  
The United States ◽  
Market Forces ◽  
Weak States ◽  
Trading System ◽  
International Trading ◽  
Substantial Degree

The structure of international trade is determined not only by market forces, but also by the political objectives of states. Weak states participate least in the open international trading system. The strong states that do participate channel trade largely within regional trading blocks. The major states in Europe and East Asia have an incentive to diminish their dependence on the hegemonic power, that is, the United States, which has reacted with its own regionalism (NAFTA). Moreover, regionalism is interpreted as a strategy that reduces states' exposure to major shocks in the global economy. Additionally, it permits them to support weak sectors of their economies at a regional level without entirely undermining the long-term growth benefits of international trade, since a substantial degree of autarky is more feasible and efficient at a regional rather than at the national level.

scholarly journals Importance of «weak» states during conflicts: Portuguese trade with the United States during the Revolutionary and Napoleonic wars

2011 ◽  
Vol 29 (3) ◽  
pp. 393-423 ◽  
Author(s):  
Cristina Moreira ◽  
Jari Eloranta
Keyword(s):  
United States ◽  
The United States ◽  
International Markets ◽  
Napoleonic Wars ◽  
Weak States ◽  
Trading System ◽  
Total War ◽  
Trade Relations ◽  
Peninsular War ◽  
International Trading

AbstractThis paper focuses on the analysis of weak states in the international trading system during the Revolutionary and Napoleonic crises, especially on Portugal's trade relations with the United States. We argue that the previous studies of the trade flows during these conflicts have not paid enough attention on smaller actors. Even though the Peninsular War caused severe disruption of agricultural production in Portugal, the United States, despite its strained relations with an ally of Portugal, Great Britain, became a key supplier for the Portuguese market. Clearly, the threatened position of the peninsula, and the need to supply the troops, awarded the Portuguese some room to manoeuvre in the international markets. Total war was not a constraint for all states — economic necessities trumped political and diplomatic concerns during the era of the first real-world wars. This situation was a temporary one, only to change after the conflict.

The United States in the Global Economy

2020 ◽  
pp. 11-34
Author(s):  
Douglas A. Irwin
Keyword(s):  
United States ◽  
International Trade ◽  
Public Opinion ◽  
World Trade ◽  
Global Economy ◽  
The United States ◽  
Production Costs ◽  
Basic Facts ◽  
Fragmentation Of Production ◽  
The U.S

This chapter sets out basic facts about international trade and the U.S. economy. It describes how world trade has expanded rapidly in the recent decades and explains how the development provides the context in which to consider trade policy. The chapter discusses the reasons for the increase in trade and how trade has changed with the fragmentation of production and the increase in trade of intermediate goods. It talks about the state of public opinion on the question of globalization. It also analyzes protectionist policies that directly harm employment in domestic industries by raising production costs in addition to forcing consumers to pay higher price for the products they buy.

Embedding Liberalism

2021 ◽  
pp. 59-78
Author(s):  
Julian Germann
Keyword(s):  
Global Economy ◽  
The United States ◽  
World Market ◽  
Developmental Model ◽  
Social Model ◽  
Social Market Economy ◽  
The Novel ◽  
Prime Objective ◽  
Social Market

This chapter traces the long-term development of German capitalism from the vantage point of uneven and combined development. It argues that Germany’s postwar social market economy was built upon an externally oriented developmental model inherited from its belated insertion into the world market, and used to enroll capital and labor in a global export offensive. The underlying vision of Germany as the workshop of an advanced industrial and newly industrializing world coincided with the postwar plans of the United States for an open, multilateral global economy. And yet the chapter cautions that the prevailing image of Germany as a liberal “trading state” (Handelsstaat) that had traded power for wealth as its prime objective fails to capture the novel ways in which the German state, from the crisis of the 1970s onward, has come to exert its influence internationally to sustain this export-led social model.

Globalization and its challenges for water management in the developing world

2002 ◽  
Vol 45 (8) ◽  
pp. 35-45 ◽  
Author(s):  
Kazuo Takahashi
Keyword(s):  
Water Management ◽  
Global Economy ◽  
National Development ◽  
International Investment ◽  
Market Forces ◽  
Business Sector ◽  
Leading Role ◽  
Development Plans ◽  
Broad Framework

Water management in developing countries is significantly affected by the processes of globalization: primarily the rapidly acting market-oriented changes that aim to improve economic efficiency through competition and trade. The various impacts of market forces enable 3 categories of developing country to be differentiated: those rapidly integrating into the global economy; those that are not attractive to international investment and become increasingly marginalized; and those countries where both tendencies are powerful, leading to internal divisions and instabilities. Broad framework national development plans are needed that are sensitive to the different circumstances in these countries and that enable the possible actors to collaborate optimally. Often the business sector can take a leading role, but its role is severely limited in other countries. In all cases however the long-term commitment of local communities is essential even when it is hard to secure.

scholarly journals Research Based on International Trade System and the Pursuit of Free Digital Trade

2021 ◽  
Vol 2 (4) ◽  
Author(s):  
Houqi Ji
Keyword(s):  
International Trade ◽  
Technological Change ◽  
Driving Force ◽  
The Internet ◽  
Trading System ◽  
Goods And Services ◽  
Cross Border ◽  
Data Flows ◽  
The World ◽  
International Trading

The world is witnessing the digitization of the production, exchange and consumption of goods and services in economy. The Internet and cross-border based data flows are becoming important trade channels as more products are traded online or with integrated functions that are based on digital connections. We emphasize the technical emergency element in existing international rules, which shows that technological change is a driving force for competitive regime creation and forum transformation, contributing to the process of fragmentation of the international trading system.

Global Economic Crisis as Factor of International Trade System's Transformation

2011 ◽  
pp. 25-30
Author(s):  
S. Sutyrin
Keyword(s):  
Economic Development ◽  
International Trade ◽  
Economic Crisis ◽  
Trading System ◽  
Modern Economy ◽  
Global Economic Crisis ◽  
International Trading ◽  
International Trading System

While analyzing the world's economic development in the second half of XX century the autor finds that there is a need to establish a system jf regulators in the modern economy. Such a system should operate on a constant basis nit only at the national but also at internatijnal level. The trend towards strengthening jf regulatory activities will inevitably involve the WTO which forms the basis of modern international trading system. During the crisis this organization took a number of steps that helped smooth out the gravity of the problem and to prevent the proliferation of unilateral protectionist measures on the part of individual states.

“Road Map” of International Trading System Reforming

2010 ◽  
pp. 10-18
Author(s):  
V. Obolenskiy
Keyword(s):  
International Trade ◽  
Economic Crisis ◽  
World Economy ◽  
Developed Countries ◽  
Trading System ◽  
Road Map ◽  
The World ◽  
International Trading ◽  
System Improvement ◽  
Working Out

The world financial and economic crisis has clearly demonstrated that the current principles and rules of the international trade were able to hold governments of most states off the impetuous protectionism, which allowed to insure the world economy against a deeper recession. However, the crisis has also depicted the importance of further international trade system improvement. In the article, the directions of working out of new agreements on future tariff and non-tariff barriers in international trade and actions encouraging its development are considered. At the same time, as accentuated in the paper, it is undeniable that there are flaws in the WTO activities, mainly the vivid bias to serving the interests of the most developed countries, which reasonably draws attention of many researchers-economists.

scholarly journals Does international tourism spur international trade and output? Evidence from wavelet analysis

2018 ◽  
Vol 25 (1) ◽  
pp. 22-33 ◽  
Author(s):  
Mukesh Kumar ◽  
Sanjeev Prashar ◽  
RK Jana
Keyword(s):  
United States ◽  
Economic Growth ◽  
International Trade ◽  
Wavelet Analysis ◽  
The United States ◽  
International Tourism ◽  
Monthly Data ◽  
Time Frequency

In this article, we attempt to examine the nexus of trade, economic growth, and international tourism. We resort to wavelet-based analysis to capture the time–frequency-based lead–lag dynamics of this nexus. Considering the monthly data spanning from January 1999 to February 2018 for the United States, we find the evidence that (a) increasing trade leads to higher tourist inflows (in terms of receipts), (b) tourist receipts are lagged by economic growth, and (c) these relationships are significant in the long term. We believe that these results are crucial for policymakers to frame policies regarding tourism in the United States.

scholarly journals The International Trade Regime and the Quest for Free Digital Trade

2019 ◽  
Vol 22 (3) ◽  
pp. 671-692 ◽  
Author(s):  
Shamel Azmeh ◽  
Christopher Foster ◽  
Jaime Echavarri
Keyword(s):  
International Trade ◽  
Global Economy ◽  
The United States ◽  
The Internet ◽  
Trade Regime ◽  
Goods And Services ◽  
Cross Border ◽  
Internet Age ◽  
Data Flows ◽  
Previous Decade

Abstract The global economy is experiencing the digitalization of production, exchange, and consumption of goods and services. The internet and cross-border data flows are becoming important channels of trade as more products are traded through the web or integrate features that rely on digital connectivity. Reflecting the autonomy states have to enact such policies, national variations in internet governance have expanded over the previous decade, with states increasingly looking to use internet and data policies for economic and trade objectives. These dynamics are having important implications on the international trade regime through challenging existing trade rules and creating demands for new rules. This has resulted in growing debates in the trade arena around “digital trade,” as a number of states, led by the United States, push for rules as a way to discipline national internet policies and support trade in digital goods and services. This paper examines the political economy of this campaign. We argue that the objectives of this campaign go beyond updating rules to better fit the “Internet age” into achieving further liberalization of trade in goods and services. We highlight the technological contingency of existing international rules and show how technological shifts have been a driver of competitive regime creation and forum shifting contributing to processes of fragmentation of the international trade regime.

scholarly journals THE ECONOMIC COSTS AND CO-BENEFITS OF CARBON TAXATION: A GENERAL EQUILIBRIUM ASSESSMENT

2018 ◽  
Vol 09 (01) ◽  
pp. 1840006 ◽  
Author(s):  
JARED WOOLLACOTT
Keyword(s):  
General Equilibrium ◽  
Computable General Equilibrium ◽  
Global Economy ◽  
National Level ◽  
The United States ◽  
Assessment Model ◽  
Income Quintile ◽  
Significant Heterogeneity ◽  
Lump Sum ◽  
Climate Policies

I examine the general equilibrium costs of climate policies that levy taxes on carbon dioxide (CO2) emissions in the United States and return the revenue in the form of lump-sum rebates and tax relief over the years 2020 to 2040 using the US regional version of the Applied Dynamic Analysis of the Global Economy (ADAGE-US) forward-looking dynamic Computable General Equilibrium (CGE) model. I approximate the value of co-benefits to these policies that arise from concomitant reductions in nongreenhouse gas (GHG) emissions using the CO-Benefits Risk Assessment model (COBRA). There is significant heterogeneity in costs and co-benefits from climate policies across space and income. Policy costs are generally less than 0[Formula: see text]5% in equivalent variation terms (between a few tens of dollars and several hundred per household, depending on the income quintile), can be fully neutralized for the lowest- quintile households at a modest increase in overall policy cost, and tend to be lower for upper-quintile households in coastal regions. The policy co-benefit values range widely across regions, approximately $150–1250 per household, exceeding the gross cost of the policy for many households, particularly those in the Midwest. Last, I identify a marginal welfare cost of $58[Formula: see text]tCO2 and a marginal co-benefit of $31[Formula: see text]tCO2 at a national level over all households, which implies a required climate benefit of $27[Formula: see text]tCO2 or less to justify the level of abatement achieved by a $25[Formula: see text]tCO2 tax growing at 5%.

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