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Full-Text Articles in Social and Behavioral Sciences
Gatt/Wto Promotes Trade Strongly: Sample Selection And Model Specification, Xuepeng Liu
Gatt/Wto Promotes Trade Strongly: Sample Selection And Model Specification, Xuepeng Liu
Faculty Articles
Some recent empirical studies examine the impact of the GATT/WTO on trade. This paper investigates the sample selection bias and the gravity model specification issues in the literature. First, the GATT/WTO not only makes existing trading partners trade more at the intensive margin, but also creates new trading relationships at the extensive margin. Most existing papers exclude zero trade observations and hence ignore the extensive margin. Secondly, due to the violation of some maintained assumptions, the traditional log-linear gravity regressions fail to uncover the role of the GATT/WTO even at the intensive margin. Using a large bilateral panel dataset including …
Trade And Income Convergence: Sorting Out The Causality, Xuepeng Liu
Trade And Income Convergence: Sorting Out The Causality, Xuepeng Liu
Faculty Articles
This paper studies the linkage between international trade and income convergence across countries. Different theories offer conflicting predictions regarding how they might affect each other. In the existing empirical literature estimating the trade impact on income convergence, a long-lasting problem is the reverse causality from income convergence to trade. This paper provides a disaggregated bilateral trade data analysis to solve this problem. The results show that the reverse causality from income convergence to trade exists in differentiated product sectors, but not in homogeneous product sectors. Trade in homogeneous sectors reduces the income gaps among trade partners, but it is not …
Globalization Of Financial Markets And The Asian Crisis: Some Lessons For Third World Developing Countries, Jong H. Park
Globalization Of Financial Markets And The Asian Crisis: Some Lessons For Third World Developing Countries, Jong H. Park
Faculty Articles
Park examines the causes of the Asian financial crisis and draws some lessons and implications for a series of issues, which may be of particular relevance to the Third World developing countries. These issues include: the appropriate role of the International Monetary Fund as an international agency in charge of helping member countries to maintain financial stability; the choice of an appropriate exchange rate regime and use of restrictions on private capital flows in the face of rising globalization; and the debate on the East Asian model of economic development.
Industry's Response To Market Liberalization In China: Evidence From Jiangsu Province, Penelope B. Prime
Industry's Response To Market Liberalization In China: Evidence From Jiangsu Province, Penelope B. Prime
Faculty Articles
More than a decade has passed since China's communist party endorsed major economic reform at the Third Plenum of the Eleventh Central Committee in December 1978. The reforms have addressed many problems, but efficiency has been the focus of concern. To improve efficiency, China has introduced market mechanisms and reversed its import substitution policies. The purpose of this article is to investigate whether industrial productivity has increased as a result, using Jiangsu Province as a case study.