International Economics Commons^™

Friedrich Von Hayek: The Socialist-Calculation Debate, Knowledge Arguments, And Modern Economic Development, Cara A. Elliott

Gettysburg Economic Review

At the close of the nineteenth and the commencement of the twentieth century, socialism began to gain momentum as a large-scale movement in Europe and the United States. This popularity was supported by an increased influence of the working class in society, which put pressure for representation upon European parliaments and began to secure concrete improvements in labor protection laws. Moreover, socialist proponents looked hopefully towards the living example of the Soviet Union, which began its socialist experiment in 1917 following the success of the Bolshevik Revolution. Socialism, which found its economic grounding in the legacies of such men as …

The Gettysburg Economic Review, Volume 4, Spring 2010

Gettysburg Economic Review

No abstract provided.

Section 9, Ii - Blecker Paper On International Competitiveness, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Handwritten cover note on Section 9, II and Blecker paper on international competitiveness. Shaikh, A. 2010. [Unpublished manuscript]. Department of Economics, The New School for Social Research.
• International competitiveness, relative wages, and the balance-of-payments constraint. Blecker, R. A. 1998. Journal of Post Keynesian Economics, 20(4). M.E. Sharpe, Inc.
• Aggregate demand and firm behavior: a new perspective on Keynesian microfoundations. Fazzari, S. M., Ferri, P., & Greenberg, E. 1998. Journal of Post Keynesian Economics, 20(4). M.E. Sharpe, Inc.
• The long view of China's currency. Leonhardt, D. 2010. The New York Times. …

From Economic Crisis To Reform: Imf Programs In Latin America And Eastern Europe By Grigore Pop-Eleches (Book Review), Aleksandra Sznajder Lee

Political Science Faculty Publications

Grigore Pop-Eleches’s book on the interaction of international and domestic determinants of IMF-style reforms in developing countries makes a significant contribution to international and comparative political economy literature. His effort to capture the dynamics of the contentious and complex relationship between the IMF and developing countries/emerging markets inLatin AmericaandEastern Europerepresents mid-range theorizing at its best. The author combines insights from international and comparative political economy literatures to pursue complementary questions. From the international effect perspective: what role do economic crises play in the initiation and implementation of IMF-backed economic reform? Is the IMF impartial in its policy and financial support …

Are Credit Unions In Ecuador Achieving Economies Of Scale?, Nick A. Marchio

Economics Honors Projects

This study tests the assertion that membership growth in credit unions is constrained by their unique structural features, such as their non-profit mission and member-based ownership. Although these features enhance inclusiveness, existing theory suggest that they work against efficiency when membership grows too diffuse. To address this issue, this study uses a model that takes into account existing theory on constrained-optimization in credit unions and theory on the adverse effects of diffuse ownership. Using data on 36 public credit unions in Ecuador, the empirical analysis finds evidence that credit unions can achieve economies of scale despite their problematic structural features. …

Why Economic Performance Has Differed Between Brazil And China? A Comparative Analysis Of Brazilian And Chinese Macroeconomic Policy, Fernando Ferrari-Filho, Anthony Petros Spanakos

Department of Political Science and Law Faculty Scholarship and Creative Works

This paper addresses a specific question: why has China grown so rapidly and Brazil not? To answer this question, it (i) establishes the basis for comparison between China and Brazil by contextualizing these countries within the BRICs concept, and (ii) presents a comparative analysis of Brazilian and Chinese reforms focusing only on the issue of macroeconomic policy, especially the monetary and exchange rate regimes, and its effect on growth.

Competition For Fdi With Vintage Investment And Agglomeration Advantages, Kai A. Konrad, Dan Kovenock

Economics Faculty Articles and Research

Countries compete for new FDI investment, whereas stocks of FDI generate agglomeration benefits and are potentially subject to extortionary taxation. We study the interaction between these aspects in a simple vintage capital framework with discrete time and an infinite horizon, focussing on Markov perfect equilibrium. We show that the equilibrium taxation destabilizes agglomeration advantages. The agglomeration advantage is valuable, but is exploited in the short run. The tax revenue in the equilibrium is substantial, and higher on “old” FDI than on “new” FDI, even though countries are not allowed to use discriminatory taxation. If countries can provide fiscal incentives for …

Financial Liberalization And International Capital Flows, Nancy Neiman Auerbach, Yoonmin Kim, Thana Sompornserm

Scripps Faculty Publications and Research

It is interesting that domestic and international financial liberalization are among the most often cited causes of the 1997–98 crisis. Liberalization in the Asian crisis countries took place prior to the crisis as did large capital inflows, many of which reversed during the crisis in the classic pattern of capital flow bonanzas ending in sudden stops (Calvo, Izquierdo, and Mejía 2008; Reinhart and Reinhart 2008; Sula and Willett 2009). Furthermore, China and India, with much less general financial liberalization and a continuing array of capital controls, were little hit by the crisis. Malaysia’s experiment with increasing capital controls during the …

Rxrrulc Interest Rates, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2009). Real interest rates, 3-month treasury bills and producer price index indexes, United States and trading partners. Unpublished manuscript.
• Shaikh, A. (2009). Nominal interest rates, 3-month treasury bills, United States and trading partners. Unpublished manuscript.
• Shaikh, A. (2009). Real exchange rate vs. real relative unit labor costs and interest rate differentials under fixed exchange rates. Unpublished manuscript.
• Shaikh, A. (2009). Competitive advantage, export-import log ratios, and relative prices. Unpublished manuscript.
• Shaikh, A. (2009). Notes on Cagatay: Trade and gender, growth versus development, and gender inequality as an instrument of international competition …

Soas Xr Trade Notes, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Barro, R. J. (1984). Changes in exchange rates and relative price levels, high inflation countries. In Macroeconomics. John Wiley and Sons.
• Shaikh, A. (2009). Given that Thirlwall's law applies to both the country and its trading partner, what restriction does this impose? Unpublished manuscript.
• Shaikh, A. (2008). Simulation data tables for Ricardian trade adjustment and fixed exchange rate models. Unpublished manuscript.
• Shaikh, A. (2008). Notes on Ricardo's theory of trade and the hydraulic model of international adjustments. Unpublished manuscript.
• Shaikh, A. (2008). United States real effective exchange rate and real relative unit labor …

Why Brazil Has Not Grown: A Comparative Analysis Of Brazilian, Indian, And Chinese Economic Management, Fernando Ferrari-Filho, Anthony Petros Spanakos

Department of Political Science and Law Faculty Scholarship and Creative Works

This paper does not aim to dispute that Brazil would benefit from reforms in any or all of these areas. Rather, the paper offers a skeptical perspective on reform menus and proposes an alternative explanation for the faster growth of Brazil’s peers India and China2. The paper begins by introducing (section 1) the idea of the BRICs countries, to establish the basis for comparisons of most similar cases. It then surveys the results of a generation of Washington Consensus era growth (section 2). Although there is a considerable amount of divergence over what causes growth, it seems that something approaching …

Exchange Rates, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (2008, April 27). Handwritten notes titled “trade, dependency, and unequal exchange (Cortland–Cornell)” [Unpublished handwritten notes].

• Shaikh, A., PhD. (1995, July 6). Summary of my XR theory [Unpublished manuscript].

• Shaikh, A., PhD. (1992, November 19). Notes on exchange rates [Unpublished notes].

Cultural Advantages In China: Tale Of Six Cities, Florentin Smarandache, Fu Yuhua, Victor Christianto

Branch Mathematics and Statistics Faculty and Staff Publications

Nowadays, plenty of factories from Europe and other developed countries have been relocated to this country, considering its tremendous economic scale and rapid growth rate during the past three decades. But most of what happens inside the China nowadays is deeply hidden from the outside world (“the foreigners” as China people would call). This fact is partly because most reports on China were written by the so‐called fly‐high experts who are busy completing their reports despite a busy schedule. Very few books or reports were written by people inside, or at least “foreigners” who spent a few years in China. …

Trade Lecture, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Gallagher, K. P. (2008). Deal or no deal: Current proposals on international trade amount to deregulation in the developing world and protectionism for the rich. The Guardian.
• Barro, R. J. (1984). Changes in exchange rates and relative price levels, high inflation countries. In Macroeconomics. John Wiley and Sons.
• Machlup, F. (1950). Three concepts of the balance of payments and the so-called dollar shortage. Economic Journal, LX.
• Yeager, L. B. (1976). International monetary relations: Theory, history, and policy (2nd ed.). Harper and Row.
• Shaikh, A. (2008). Real exchange rate vs. adjusted rulcratio. …

Xr Chapter Book, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Purchasing power parity adjustments to price and quantity indexes — Shaikh, A., PhD. Unpublished manuscript, dated November 9, 2008.
• Real exchange rate vs. adjusted relative real unit labor costs — Shaikh, A., PhD. Unpublished chart, undated; underlying series extend from 1960 to 2007.
• Handwritten notes on relative cost-price of capital goods between two countries — Shaikh, A., PhD. Unpublished manuscript notes, undated.
• Solving for post-trade prices of production — Shaikh, A., PhD. Unpublished manuscript notes, dated November 1, 2008.
• Handwritten notes on the real exchange rate identity — Shaikh, A., PhD. Unpublished manuscript notes, undated.
• Annex table …

Trade Lectures, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (n.d.). Symposium: Notes mentioning Steve Pressman and aggregate production functions (APFs) [Unpublished handwritten notes]. Manuscript.

• Shaikh, A., PhD. (n.d.). Handwritten notes on Steedman, Ian (1979), Trade amongst growing economies [Unpublished handwritten notes]. Manuscript.

• Felipe, J. (2002, January 15). Email to Anwar Shaikh discussing equations including Cobb–Douglas, translog, and CES [Unpublished email correspondence].

• Shaikh, A., PhD. (n.d.). Handwritten notes on aggregate production functions [Unpublished handwritten notes]. Manuscript.

• Shaikh, A., PhD. (n.d.). I: The secret of growth accounting [Unpublished handwritten notes]. Manuscript.

• Shaikh, A. (2001, December 4). Email to Jesus …

The Relationship Between Import Prices And Inflation In The United States, Thomas D. Corrigan

WCBT Faculty Publications

Inflation has been a non-issue in the United States in recent years despite strong economic growth, on balance, and falling unemployment. Some analysts believe that "new economy" dynamics are responsible for this favorable outcome and further claim that the traditional Phillips curve tradeoff between growth and inflation is no longer a valid assumption underlying economic policy decisions. Others believe that the Phillips curve is indeed alive and well but that favorable "supply shocks" have masked the still relevant tradeoff between growth and price stability. One potential "supply shock" candidate is a declining trend in the cost of imports into the …

Trade (2), Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Real per capita GDP growth in developed and developing countries — a photocopied chart apparently excerpted from a published report. The source publication, author, and publisher are not indicated on the scanned page, so a verified full reference cannot be supplied; the data appear to span the early-to-mid 2000s.
• Handwritten notes on real exchange rates and balance-of-trade theory — Shaikh, A., PhD. Unpublished manuscript notes, undated.
• Note on new and old exchange rate file comparisons — Shaikh, A., PhD. Unpublished note referencing companion digital files, undated.
• Handwritten notes on trade balance and exchange rate derivations — Shaikh, …

Two Papers - Profit & Competition Exchange Rates, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Anwar Shaikh. (2004). The power of profit. Social Research, 71(2), 389–431. Johns Hopkins University Press, Baltimore, MD.

• Anwar Shaikh. (1991, December 16; revised 1994, November). Competition and exchange rates: Theory and empirical evidence (Unpublished manuscript). Department of Economics, Graduate Faculty, The New School for Social Research, New York, NY.

The Political Economy Of Perverse Financial Liberalization: Examples From The Asian Crisis, Nancy Neiman Auerbach, Thomas D. Willett

Scripps Faculty Publications and Research

Debates continue to rage about the causes of recent currency and financial crises around the globe and their implications for the desirability of domestic and international financial liberalization. Beneath the heated exchanges of the most vocal disputants, a quiet consensus is beginning to emerge among serious scholars and policy officials. The big lesson from these crises is that while financial liberalization is still a desirable goal, it must be approached very carefully. It’s not just that without the proper pre-conditions liberalization will not provide full benefits. The results can sometimes be disastrous. What was once considered to be an arcane …

Globalization And The Myth Of Free Trade, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Program for the conference on globalization and the myths of free trade, hosted by the Center for Economic Policy Analysis and the Department of Economics, including schedule and speaker introductions. (2003, April 18). [Unpublished conference program]. Center for Economic Policy Analysis; Department of Economics, The New School University.

• Annotated conference schedule. (2003, April 18). [Unpublished annotated schedule; manuscript with annotations]. (A. Shaikh, PhD, annotator).

• Shaikh, A., PhD. (n.d.). Handwritten conference notes referencing Andrew Glyn, Stephanie Seguino, Ajit Singh, Ha-Joon Chang, and Deepak Nayyar [Unpublished handwritten notes]. Manuscript.

• Shaikh, A., PhD. (n.d.). …

Is Ricardo's Essay On Profits A Precursor Of The New Trade Theory?, Hian Teck Hoon

Research Collection School Of Economics

This paper carefully analyzes a passage of Ricardo’s Essay on Profits ([1815] 1923), which suggests that he clearly understood the effects of both interindustry as well as intraindustry trade. In the context of the Essay model, Ricardo argues that free interindustry trade involving an exchange of manufactures for agricultural good (from England’s point of view) raises the rate of profit through lowering the relative price of the agricultural good. On the other hand, where trade involves simply an exchange of manufactures for manufactures, these being produced under conditions of economies of scale (division of labour in manufactures (pg. 25 of …

My Trade Models, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (n.d.). My trade models [Folder cover].

• Shaikh, A., PhD. (1992, October 27). Dynamics of XR adjustment [Unpublished handwritten notes].

• Shaikh, A., PhD. (1992, October 20). BOT and XR theory [Unpublished handwritten notes].

• Shaikh, A., PhD. (1991, February 26). Dynamic models of XR theory [Unpublished handwritten notes].

• Shaikh, A., PhD. (1990, July 30). Dynamics of XR adjustment [Unpublished handwritten notes].

• Shaikh, A., PhD. (1990, July 30). Dynamic XR adjustment [Unpublished handwritten notes].

• Shaikh, A., PhD. (1992, January 11). BOP model and XR: Basic adjustment process [Unpublished handwritten notes]. …

The Political Economy Of Wto Dispute Settlement: Toward A Synthesis Of International Regime Theories, Christopher L. Griffin

University Avenue Undergraduate Journal of Economics

This paper analyzes the explanatory power of mainstream international regime theories from the international political economy (IPE) literature—neoliberalism, realism, and cognitivism—through formal econometric techniques. I use a data set based on 162 dispute settlement cases since the inception of the World Trade Organization and find that the probability of a Dispute Settlement Panel (DSP) forming depends on the share of exports for a target country as a share of its total exports as well as relative gaps in military expenditures (as a share of GDP). These results are highly robust to different model specifications and control variable choice. Though the …

Globalization And The Paradox Of Incorporation And Marginalization: An Exploratory Note On Sub-Saharan Africa, Charles R. Lartey

Graduate Program in International Studies Theses & Dissertations

Globalization has of late become the lingua franca of the study of the international political economic system. As its ideological counterpart, globalization has elevated neoliberalism to the status of an international theology. To harness the benefits of a globalizing world economy, conventional wisdom consider the dictums underlying neoliberal policies as “immutable laws” that must be adopted by both the developing and the developed world.

Utilizing a structured, focused analysis based on a case study of Sub-Saharan Africa (SSA), this research challenges the orthodox notion that the new international context of development that is instigated by the imperatives of globalization, and …

Dirty Money, Gabriele Camera

Economics Faculty Articles and Research

An inter-governmental body is encouraging the replacement of currency with the objective of discouraging illegal economic activities. This policy is analyzed in a search-theoretic model where individuals choose legal or illegal production, settle trades via monetary or costly intermediated exchange, and where the government imperfectly monitors monetary transactions. Stationary monetary equilibria with both legal and illegal production exist, in which case the over-provision of currency may increment the extent of illegal production. This result holds also in the presence of intermediated exchange of legal goods. Equilibria with differing transaction patterns and degrees of illicit activities coexist.

Does Free Trade Cause Hunger? Hidden Implications Of The Ftaa, Jonathan B. Wight

Economics Faculty Publications

Voluntary free trade has the potential, slowly and gradually over time, to create "general opulence" because it allows workers to acquire greater competency and specialization: in a word, workers become more productive. The creation of a Free Trade Area of the Americas (FTAA) would expand market areas and thereby potentially contribute to raising future living standards of workers. This paper seeks to analyze the theoretical basis for trade, provide an economic overview of FTAA countries, and analyze the winners and losers from trade.

Evidence On Trade Liberalization, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (n.d.). Comments on G. Harcourt, Salter-Russell, Ajit Singh, and Peter Nolan [Unpublished handwritten notes].

• Shaikh, A., PhD. (2001, December 18). Evidence on trade liberalization [Typed notes with handwritten annotations].

• Shaikh, A., PhD. (n.d.). Figure 1: Balance of trade as a percentage of GDP, U.S. and Japan [Unpublished graph].

• Shaikh, A., PhD. (n.d.). Figure 3: U.S.: Real effective exchange rates and real adjusted effective unit labor costs [Unpublished graph].

• Shaikh, A., PhD. (n.d.). Figure 4: Japan: Real effective exchange rates and real adjusted effective unit labor costs [Unpublished graph].

• …

Trade Theory, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (1998, November 12). Notes on trade and capital mobility [Unpublished notes].

• Shaikh, A., PhD. (1994, April 18). The implicit theory of the XR in my argument [Unpublished notes].

• Shaikh, A., PhD. (n.d.). Alternate measures of world exports [Unpublished document].

• Blecker, R. A. (1999, August 19). The causes of the U.S. trade deficit [Statement before the Trade Deficit Review Commission]. Trade Deficit Review Commission.

• Shaikh, A., PhD. (n.d.). National competitive prices with unequal real wages [Unpublished notes].

• Shaikh, A., PhD. (1998, October 8). Levy presentation outline [Unpublished outline].

• …

Rent, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Ricardian margin and rent: (“Labor only” model). (n.d.). [Handwritten notes]. Unpublished manuscript. (Anwar Shaikh, PhD, author).

• Schefold. (n.d.). [Handwritten notes]. Unpublished manuscript. (Anwar Shaikh, PhD, author).

• Notes with graphs on prices, rent, and a demand curve. (n.d.). [Handwritten notes]. Unpublished manuscript. (Anwar Shaikh, PhD, author).

• Notes discussing rent as a marginal product of land and the supply and demand function. (n.d.). [Handwritten notes]. Unpublished manuscript. (Anwar Shaikh, PhD, author).

• Journal of Economic Literature page. (1986, March). [Journal page]. American Economic Association.

• A few comments on the …