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Articles 211 - 220 of 220

Full-Text Articles in International Economics

Markov Switching Garch Models Of Currency Crises In Southeast Asia, Celso Brunetti, Roberto S. Mariano, Chiara Scotti, Augustine H. H. Tan Mar 2003

Markov Switching Garch Models Of Currency Crises In Southeast Asia, Celso Brunetti, Roberto S. Mariano, Chiara Scotti, Augustine H. H. Tan

Research Collection School Of Economics

This paper develops a model which is able to forecast exchange rate turmoil. Our starting point relies on the empirical evidence that exchange rate volatility is not constant. In fact, the modeling strategy adopted refers to the vast literature of the GARCH class of models, where the variance process is explicitly modeled. Further empirical evidence shows that it is possible to distinguish between two different regimes: îordinaryî versus îturbulenceî. Low exchange rate changes are associated with low volatility (ordinary regime) and high exchange rate devaluations go together with high volatility. This calls for a regime switching approach. In our model …

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Is Ricardo's Essay On Profits A Precursor Of The New Trade Theory?, Hian Teck Hoon Dec 2002

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 …

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A Model Of Industrialization And International Wage Convergence Based On Multi-Plant Foreign Direct Investment, Hian Teck Hoon, Irene Ng Dec 2002

A Model Of Industrialization And International Wage Convergence Based On Multi-Plant Foreign Direct Investment, Hian Teck Hoon, Irene Ng

Research Collection School Of Economics

We show that for industrialization and international wage convergence through multi-plant foreign direct investment (FDI) to occur, the measure of the quality of the social infrastructure in the South relative to that in the North must be at least as large as the South-North wage ratio. We also show that if profitable FDI flows already take place from the North to the most productive economy in the South, then less productive Southern economies can also become recipients of FDI, provided that they are integrated into the world trading system, and there are no impediments to the decline of their wage …

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Endogenous Tariff Formation With Intra-Industry Trade, Pao-Li Chang Aug 2002

Endogenous Tariff Formation With Intra-Industry Trade, Pao-Li Chang

Research Collection School Of Economics

Previous theoretical contributions on endogenous tariff formation have focused on trade models with homogeneous goods and constant returns to scale. This paper investigates the political equilibrium of trade policy when economic structure is instead characterized by differentiated products and increasing returns to scale and there exists intra-industry trade. The result shows that endogenous tariffs are positive for all industries with non-negligible shares of world production. However, the level of protection is less than the optimal tariff that would otherwise be imposed by a benevolent government in an unorganized industry, and higher in an organized industry. The protection provided to all …

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The Evolution And Utilization Of The Gatt/Wto Dispute Settlement Mechanism, Pao Li Chang Aug 2002

The Evolution And Utilization Of The Gatt/Wto Dispute Settlement Mechanism, Pao Li Chang

Research Collection School Of Economics

This paper attempts to study the usage of the GATT/WTO dispute settlement mechanism and to explain its patterns across different regimes and decades, using a unified theoretical model. This study first explores the role of the degree of legal controversy over a panel ruling in determining countries’ incentives to block/appeal a panel report under the GATT/WTO regime. The model is able to explain the surge in blocking incidence during the 1980s over the preceding GATT years and the immense frequency at which the new appellate procedure under the WTO is invoked. Furthermore, a two-sided asymmetric information framework is used to …

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Overhauling The Wto: Opportunity At Doha And Beyond, John Audley, Ann Florini Oct 2001

Overhauling The Wto: Opportunity At Doha And Beyond, John Audley, Ann Florini

Research Collection School of Social Sciences

The world's trade ministers, who will meet at a WTOministerial in November 2001 in Doha, Qatar, are wrong to think that only a newround of negotiations will save the much-maligned international trade system.Carnegie senior associates John Audley and Ann M. Florini argue that theyshould, instead, simultaneously tackle internal and external reform of the WTOto make it a truly equitable institution. Internally, industrial countries muststart treating developing countries as equal partners in making the rules thatgovern global trade, and where necessary provide technical assistance to makethat equality possible. Externally, to satisfy legitimate public demands,members should improve the transparency of WTO proceedings …

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Technology Exports From A Small, Very Open Nic: The Case Of Singapore, Eng Fong Pang, Hal Hill May 1991

Technology Exports From A Small, Very Open Nic: The Case Of Singapore, Eng Fong Pang, Hal Hill

Research Collection Lee Kong Chian School Of Business

This paper examines the nature, composition and determinants of Singapore's early stage technology exports. The pattern of these exports reflects the quite unique mix of policy and institutional features in Singapore's environment - remarkably high growth, very open economy, rapid structural change, particularly intense economic relations with neighboring Southeast Asian nations, and a pervasive and paternalistic state role. The bases of Singapore's comparative advantage in these service exports are identified, and some general implications from its experience are analyzed.

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Economic Relations Between Asean And Australia, Mohamed Ariff, Ross Garnaut, Hal Hill, Eng Fong Pang Mar 1987

Economic Relations Between Asean And Australia, Mohamed Ariff, Ross Garnaut, Hal Hill, Eng Fong Pang

Research Collection Lee Kong Chian School Of Business

Economic relations between the countries of ASEAN and Australia have developed rapidly in the past 25 years. All countries in the region share a powerful interest in the maintenance of a liberal international trading environment. There is also confineable scope for an expanded. mutually beneficial bilateral relationship if a range of barriers to commercial contact are removed. Public policy reforms, on a non-discriminatory basis are the key to such a relationship.

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Optimal Trade Policies And Non-Economic Objectives In Models Involving Imported Materials, Inter-Industry Flows And Nontraded Goods, Augustine H. H. Tan Jan 1971

Optimal Trade Policies And Non-Economic Objectives In Models Involving Imported Materials, Inter-Industry Flows And Nontraded Goods, Augustine H. H. Tan

Research Collection School Of Economics

In a recent paper in this Review, J. Bhagwati and T. N. Srinivasan investigated the question of optimal policies required to attain non-economic objectives like ensuring minimum production and employment levels in particular industries as well as preventing excess importation and consumption of some goods. The framework of Bhagwati Srinivasan's analysis is the traditional trade model. In this note we consider three alternative models which allow for inter-industry linkages, the use of imported intermediate goods and non-traded goods. In addition to the non-economic objectives analyzed by Bhagwati-Srinivasan these models allow distinction between maintaining net and gross production levels as well …

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Differential Tariffs, Negative Value-Added And The Theory Of Effective Protection, Augustine H. H. Tan Mar 1970

Differential Tariffs, Negative Value-Added And The Theory Of Effective Protection, Augustine H. H. Tan

Research Collection School Of Economics

This article examines the implications for effective protection(EP) theory of allowing variable factor proportions and general equilibrium repercussions. The first claim of EP theory, is that it provides a measure of the maximum proportionate increase in factor rewards permitted by a tariff structure, as compared to a free trade regime. EP rates predict only a particular direction of resource flows whereas general equilibrium analysis, with variable input coefficients, indicates that flows contrary to EP prediction are possible. Two examples are provided, first, where there is a uniform tariff on final goods; and second, where one final sector has a higher …

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