International Trade and Economic Growth.

By: Hendrik, Van den BergContributor(s): Lewer, Joshua JPublisher: Armonk : Routledge, 2007Copyright date: ©2007Description: 1 online resource (288 pages)Content type: text Media type: computer Carrier type: online resourceISBN: 9781317467397Subject(s): International trade.;Economic developmentGenre/Form: Electronic books. Additional physical formats: Print version:: International Trade and Economic GrowthDDC classification: 382 LOC classification: HF1379 -- .V363 2007ebOnline resources: Click to View
Contents:
Cover -- Half Title -- Title -- Copyright -- Dedication -- Contents -- List of Tables -- List of Figures -- Preface -- Acknowledgments -- Introduction -- The Fragility of Economists' Case for Free Trade -- A Dynamic Case for Free Trade? -- Outline of the Book -- Chapter 1 - The Welfare Gains from Trade -- 1.1 Static Models and the Gains from Trade -- 1.1.1 The General Equilibrium Gains from Trade -- 1.1.2 The Partial Equilibrium Gains from Trade -- 1.2 Estimates of the Static Gains from Trade -- 1.2.1 Measuring the Harberger Triangles -- 1.2.2 Beyond the Harberger Triangles -- 1.2.3 The Gains from Trade and Economic Growth -- 1.3 Economic Growth and International Trade -- 1.3.1 The History of Economic Growth -- 1.3.2 Trade and Per Capita Output Follow Similar Paths -- 1.4 The Power of Compounding -- 1.5 Does Trade Cause Growth? -- Chapter 2 - Trade and Growth: The Empirical Evidence -- 2.1 The Statistical Relationship between Trade and Growth -- 2.1.1 The Early Statistical Studies -- 2.1.2 The Shortcomings of Linear Regression Analysis -- 2.2 Regressing Economic Growth on International Trade -- 2.2.1 Cross-Section Sources of Growth Regressions -- 2.2.2 Time-Series Sources of Growth Regressions -- 2.2.3 The Per Capita Income Version of the Model -- 2.3 The Feder Model -- 2.4 Dealing with Simultaneity -- 2.4.1 Causality Analysis -- 2.4.2 Simultaneous Equations Models -- 2.4.3 Instrumental Variables -- 2.5 Trade's Growth Effects Using Qualitative Measures -- 2.5.1 Three Popular Studies of Trade and Growth -- 2.5.2 Evaluating the Results of Qualitative Studies -- 2.6 Robust Studies -- 2.6.1 Levine and Renelt's Sensitivity Analysis -- 2.6.2 Sala-i-Martin's Less Zealous Sensitivity Analysis -- 2.7 Testing How Trade Affects Growth -- 2.7.1 Distinguishing the Channels of Trade's Influence -- 2.7.2 A Simultaneous-Equations "Channels" Model.
2.8 Summary and Assessment of the Empirical Results -- Chapter 3 - International Trade and Factor Accumulation -- 3.1 The Early Growth Models -- 3.1.1 Adam Smith on Specialization and Exchange -- 3.1.2 Specialization and Technological Progress -- 3.1.3 The Importance of Institutions -- 3.1.4 Transportation and Communications -- 3.1.5 National Welfare -- 3.1.6 A Graphic Smithian Growth Model -- 3.2 The Classical Economists and Diminishing Returns -- 3.2.1 An Example of Diminishing Returns -- 3.2.2 Diminishing Returns and Technology -- 3.2.3 Diminishing Returns and Population Growth -- 3.2.4 International Trade's Role in the Growth Process -- 3.3 The Harrod-Domar Growth Model -- 3.3.1 The Basic Harrod-Domar Model -- 3.3.2 The Experience of the Harrod-Domar Model -- 3.4 Robert Solow and His Neoclassical Growth Model -- 3.4.1 The Production Function -- 3.4.2 Saving and Investment -- 3.4.3 The Graphic Version of the Solow Model -- 3.4.4 Population Growth and the Solow Model -- 3.4.5 Technological Progress and the Solow Model -- 3.4.6 Summing Up the Solow Growth Model -- 3.5 The Gains from Trade According to the Solow Model -- 3.5.1 Baldwin's Application of the Solow Model -- 3.5.2 Does It Matter What a Country Trades? -- 3.5.3 The Gains from Trade in the Solow Model -- 3.6 East Asia and the Solow Model -- 3.6.1 The East Asian Miracle -- 3.6.2 The Reaction to Krugman's Analysis -- 3.6.3 Avoiding Diminishing Returns -- 3.7 Conclusions -- Appendix: The Convenient Cobb-Douglas Production Function -- Constant Returns to Scale -- Diminishing Marginal Returns -- Constant Factor Shares -- Example: Thailand's Increase in Saving -- Chapter 4 - Overcoming Diminishing Returns: Technology as an Externality -- 4.1 Factor Accumulation without Diminishing Returns -- 4.1.1 The AK Model -- 4.1.2 Are All Factors Really Reproducible? -- 4.2 Technology.
4.2.1 Defining Technology -- 4.2.2 It's the Application of the New Ideas that Matters -- 4.2.3 The S-Curve of Technology Diffusion -- 4.2.4 The Geographic Diffusion of Technology -- 4.2.5 Technological Progress Is a Combinatoric Process -- 4.2.6 Technology Is a Nonrival Good -- 4.2.7 Not All Technology Is the Same -- 4.2.8 International Trade and Technological Progress -- 4.3 Technological Progress as an Externality -- 4.3.1 Technology and Investment -- 4.3.2 Technological Progress as an Externality to Investment -- 4.3.3 Increasing Returns to Scale and Economic Growth -- 4.3.4 Investment Externalities and International Trade -- 4.4 Learning-by-Doing -- 4.4.1 The Early Studies -- 4.4.2 Modeling Learning-by-Doing -- 4.4.3 Recent Research on Technology Externalities -- 4.4.4 Learning-by-Doing-With -- 4.5 Learning-by-Trading -- 4.5.1 Learning-by-Exporting -- 4.5.2 Testing the Learning-by-Exporting Hypothesis -- 4.5.3 Enclaves, Maquiladoras, and Spillovers -- 4.5.4 Learning-by-Importing -- 4.5.5 The Role of Import Competition -- 4.6 Conclusions -- Chapter 5 - Technological Progress as Creative Destruction -- 5.1 Joseph Schumpeter's Creative Destruction -- 5.1.1 The Process of Creative Destruction -- 5.1.2 The Role of the Entrepreneur -- 5.1.3 The Role of the Financial Sector -- 5.1.4 Creative Destruction and Economic Growth -- 5.2 The Schumpeterian R&D Model -- 5.2.1 Imperfect Competition and Profits -- 5.2.2 A Model of Costly Innovation Driven by Profits -- 5.2.3 Innovation Requires Costly Resources -- 5.2.4 The Present Value of Innovation -- 5.2.5 The Equilibrium Level of R&D Activity -- 5.2.6 Changes in μ, r, R, and β and Innovation -- 5.2.7 Some Further Observations on the R&D Model -- 5.3 A Mathematical Version of the Schumpeterian Model -- 5.3.1 Innovation and Profit -- 5.3.2 The Equilibrium Level of Entrepreneurial Activity.
5.3.3 The Equilibrium Rate of Technological Progress -- 5.4 The Long-Run Trend in the Costs of Innovation -- 5.4.1 How the Models Avoid a Technology Slowdown -- 5.4.2 Do R&D Costs Rise or Fall over Time? -- 5.4.3 Evidence on the Cost of Technological Progress -- 5.5 Conclusions and Remaining Issues -- Chapter 6 - International Trade and Technological Progress -- 6.1 International Trade and the Schumpeterian Model -- 6.1.1 Creative Destruction in an Integrated Market -- 6.1.2 An Integrated Economy Raises Income -- 6.1.3 Technology Transfers and Creative Destruction -- 6.1.4 Creative Destruction and Comparative Advantage -- 6.2 The Size of Economies and Technology -- 6.2.1 Kremer's Model of Trade and Technology -- 6.2.2 The Role of Trade in Promoting Technology Flows -- 6.2.3 Trade Helps Small Countries Most -- 6.3 Leader-Follower Models of Growth -- 6.3.1 Vernon's Product Cycle Model -- 6.3.2 Other Leader-Follower Models -- 6.4 Sources of Ambiguity about Trade's Growth Effect -- 6.4.1 Increased Competition in an Open Economy -- 6.4.2 Maintaining Profit Margins in a Global Economy -- 6.4.3 The Darwinian View of Competition -- 6.4.4 Step-by-Step Innovation in Place of Leapfrogging -- 6.5 Protectionism and Creative Destruction -- 6.5.1 Protectionism to Maintain the Status Quo -- 6.5.2 The Holmes and Schmitz Model -- 6.6 Conclusions and Further Issues -- Chapter 7 - Multi-Sector Models and International Trade -- 7.1 A Two-Sector Learning-by-Doing Model -- 7.1.1 Industry-Specific Technology Transfers -- 7.1.2 When There Are No Technology Transfers -- 7.1.3 Innovation as a Source of Comparative Advantage -- 7.2 Other Sectoral Models of Trade and Economic Growth -- 7.2.1 More Complex Models of Learning -- 7.2.2 Demand Driven Technological Progress -- 7.3 Terms of Trade Arguments for Protection -- 7.3.1 Immizerizing Growth.
7.3.2 The Terms of Trade Effect of Foreign Growth -- 7.3.3 An Alternative Scenario: Trade Itself Diffuses Technology -- 7.3.4 The Long-Run Dynamics of Knowledge Transfers -- 7.3.5 Some Additional Points -- 7.4 Protectionism to Promote Technological Progress -- 7.4.1 The Infant Industry Argument for Protection -- 7.4.2 The Argument's Many Implicit Assumptions -- 7.5 Import Substitution Policies -- 7.5.1 Why Import Substitution Policies Were Popular -- 7.5.2 The Favorable Political Environment -- 7.5.3 An Assessment of IS Policies -- 7.5.4 How Well Do Governments Pick Winners? -- 7.6 Conclusions -- Chapter 8 - Trade and Technology Transfers -- 8.1 Domestic Technology vs. Adopted Technology -- 8.1.1 Direct and Indirect Technology Transfers -- 8.1.2 Technology Moves Slowly -- 8.1.3 The Costs of Adopting New Technology -- 8.1.4 The Costs of Adopting Foreign Technology -- 8.2 Empirical Evidence on Technology Diffusion -- 8.2.1 Tracing Patent Citations -- 8.2.2 Statistical Analysis of R&D Activity -- 8.2.3 International and Inter-Sectoral Transfers -- 8.3 Summary and Conclusions -- Chapter 9 - Restating the Case for Free Trade -- 9.1 Dynamic Arguments for Free Trade -- 9.2 A Much More General View of Trade and Growth -- 9.2.1 The Gains from Dealing with Strangers -- 9.2.2 Dependence on Strangers Is Inherently Problematic -- 9.2.3 Getting the Institutions Right -- 9.3 Final Comments -- Bibliography -- Author Index -- Subject Index -- About the Authors.
Summary: Unlike any other text on international trade, this groundbreaking book focuses on the dynamic long-run relationship between trade and economic growth rather than the static short-run relationship between trade and economic efficiency. The authors begin with well-known theory on international trade, and then take the student into more recent and less well-known work, all with a careful balance between empirical and theoretical perspectives. A valuable teaching tool for courses in international economics, economic growth, and economic development at both the undergraduate and graduate levels, the book uses some very modest algebra, calculus, and statistics. However, most analytical discussions are built around diagrams in order to make the text accessible to students with a variety of social science backgrounds. An Instructor's Manual is available to professors who adopt the text.
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Cover -- Half Title -- Title -- Copyright -- Dedication -- Contents -- List of Tables -- List of Figures -- Preface -- Acknowledgments -- Introduction -- The Fragility of Economists' Case for Free Trade -- A Dynamic Case for Free Trade? -- Outline of the Book -- Chapter 1 - The Welfare Gains from Trade -- 1.1 Static Models and the Gains from Trade -- 1.1.1 The General Equilibrium Gains from Trade -- 1.1.2 The Partial Equilibrium Gains from Trade -- 1.2 Estimates of the Static Gains from Trade -- 1.2.1 Measuring the Harberger Triangles -- 1.2.2 Beyond the Harberger Triangles -- 1.2.3 The Gains from Trade and Economic Growth -- 1.3 Economic Growth and International Trade -- 1.3.1 The History of Economic Growth -- 1.3.2 Trade and Per Capita Output Follow Similar Paths -- 1.4 The Power of Compounding -- 1.5 Does Trade Cause Growth? -- Chapter 2 - Trade and Growth: The Empirical Evidence -- 2.1 The Statistical Relationship between Trade and Growth -- 2.1.1 The Early Statistical Studies -- 2.1.2 The Shortcomings of Linear Regression Analysis -- 2.2 Regressing Economic Growth on International Trade -- 2.2.1 Cross-Section Sources of Growth Regressions -- 2.2.2 Time-Series Sources of Growth Regressions -- 2.2.3 The Per Capita Income Version of the Model -- 2.3 The Feder Model -- 2.4 Dealing with Simultaneity -- 2.4.1 Causality Analysis -- 2.4.2 Simultaneous Equations Models -- 2.4.3 Instrumental Variables -- 2.5 Trade's Growth Effects Using Qualitative Measures -- 2.5.1 Three Popular Studies of Trade and Growth -- 2.5.2 Evaluating the Results of Qualitative Studies -- 2.6 Robust Studies -- 2.6.1 Levine and Renelt's Sensitivity Analysis -- 2.6.2 Sala-i-Martin's Less Zealous Sensitivity Analysis -- 2.7 Testing How Trade Affects Growth -- 2.7.1 Distinguishing the Channels of Trade's Influence -- 2.7.2 A Simultaneous-Equations "Channels" Model.

2.8 Summary and Assessment of the Empirical Results -- Chapter 3 - International Trade and Factor Accumulation -- 3.1 The Early Growth Models -- 3.1.1 Adam Smith on Specialization and Exchange -- 3.1.2 Specialization and Technological Progress -- 3.1.3 The Importance of Institutions -- 3.1.4 Transportation and Communications -- 3.1.5 National Welfare -- 3.1.6 A Graphic Smithian Growth Model -- 3.2 The Classical Economists and Diminishing Returns -- 3.2.1 An Example of Diminishing Returns -- 3.2.2 Diminishing Returns and Technology -- 3.2.3 Diminishing Returns and Population Growth -- 3.2.4 International Trade's Role in the Growth Process -- 3.3 The Harrod-Domar Growth Model -- 3.3.1 The Basic Harrod-Domar Model -- 3.3.2 The Experience of the Harrod-Domar Model -- 3.4 Robert Solow and His Neoclassical Growth Model -- 3.4.1 The Production Function -- 3.4.2 Saving and Investment -- 3.4.3 The Graphic Version of the Solow Model -- 3.4.4 Population Growth and the Solow Model -- 3.4.5 Technological Progress and the Solow Model -- 3.4.6 Summing Up the Solow Growth Model -- 3.5 The Gains from Trade According to the Solow Model -- 3.5.1 Baldwin's Application of the Solow Model -- 3.5.2 Does It Matter What a Country Trades? -- 3.5.3 The Gains from Trade in the Solow Model -- 3.6 East Asia and the Solow Model -- 3.6.1 The East Asian Miracle -- 3.6.2 The Reaction to Krugman's Analysis -- 3.6.3 Avoiding Diminishing Returns -- 3.7 Conclusions -- Appendix: The Convenient Cobb-Douglas Production Function -- Constant Returns to Scale -- Diminishing Marginal Returns -- Constant Factor Shares -- Example: Thailand's Increase in Saving -- Chapter 4 - Overcoming Diminishing Returns: Technology as an Externality -- 4.1 Factor Accumulation without Diminishing Returns -- 4.1.1 The AK Model -- 4.1.2 Are All Factors Really Reproducible? -- 4.2 Technology.

4.2.1 Defining Technology -- 4.2.2 It's the Application of the New Ideas that Matters -- 4.2.3 The S-Curve of Technology Diffusion -- 4.2.4 The Geographic Diffusion of Technology -- 4.2.5 Technological Progress Is a Combinatoric Process -- 4.2.6 Technology Is a Nonrival Good -- 4.2.7 Not All Technology Is the Same -- 4.2.8 International Trade and Technological Progress -- 4.3 Technological Progress as an Externality -- 4.3.1 Technology and Investment -- 4.3.2 Technological Progress as an Externality to Investment -- 4.3.3 Increasing Returns to Scale and Economic Growth -- 4.3.4 Investment Externalities and International Trade -- 4.4 Learning-by-Doing -- 4.4.1 The Early Studies -- 4.4.2 Modeling Learning-by-Doing -- 4.4.3 Recent Research on Technology Externalities -- 4.4.4 Learning-by-Doing-With -- 4.5 Learning-by-Trading -- 4.5.1 Learning-by-Exporting -- 4.5.2 Testing the Learning-by-Exporting Hypothesis -- 4.5.3 Enclaves, Maquiladoras, and Spillovers -- 4.5.4 Learning-by-Importing -- 4.5.5 The Role of Import Competition -- 4.6 Conclusions -- Chapter 5 - Technological Progress as Creative Destruction -- 5.1 Joseph Schumpeter's Creative Destruction -- 5.1.1 The Process of Creative Destruction -- 5.1.2 The Role of the Entrepreneur -- 5.1.3 The Role of the Financial Sector -- 5.1.4 Creative Destruction and Economic Growth -- 5.2 The Schumpeterian R&D Model -- 5.2.1 Imperfect Competition and Profits -- 5.2.2 A Model of Costly Innovation Driven by Profits -- 5.2.3 Innovation Requires Costly Resources -- 5.2.4 The Present Value of Innovation -- 5.2.5 The Equilibrium Level of R&D Activity -- 5.2.6 Changes in μ, r, R, and β and Innovation -- 5.2.7 Some Further Observations on the R&D Model -- 5.3 A Mathematical Version of the Schumpeterian Model -- 5.3.1 Innovation and Profit -- 5.3.2 The Equilibrium Level of Entrepreneurial Activity.

5.3.3 The Equilibrium Rate of Technological Progress -- 5.4 The Long-Run Trend in the Costs of Innovation -- 5.4.1 How the Models Avoid a Technology Slowdown -- 5.4.2 Do R&D Costs Rise or Fall over Time? -- 5.4.3 Evidence on the Cost of Technological Progress -- 5.5 Conclusions and Remaining Issues -- Chapter 6 - International Trade and Technological Progress -- 6.1 International Trade and the Schumpeterian Model -- 6.1.1 Creative Destruction in an Integrated Market -- 6.1.2 An Integrated Economy Raises Income -- 6.1.3 Technology Transfers and Creative Destruction -- 6.1.4 Creative Destruction and Comparative Advantage -- 6.2 The Size of Economies and Technology -- 6.2.1 Kremer's Model of Trade and Technology -- 6.2.2 The Role of Trade in Promoting Technology Flows -- 6.2.3 Trade Helps Small Countries Most -- 6.3 Leader-Follower Models of Growth -- 6.3.1 Vernon's Product Cycle Model -- 6.3.2 Other Leader-Follower Models -- 6.4 Sources of Ambiguity about Trade's Growth Effect -- 6.4.1 Increased Competition in an Open Economy -- 6.4.2 Maintaining Profit Margins in a Global Economy -- 6.4.3 The Darwinian View of Competition -- 6.4.4 Step-by-Step Innovation in Place of Leapfrogging -- 6.5 Protectionism and Creative Destruction -- 6.5.1 Protectionism to Maintain the Status Quo -- 6.5.2 The Holmes and Schmitz Model -- 6.6 Conclusions and Further Issues -- Chapter 7 - Multi-Sector Models and International Trade -- 7.1 A Two-Sector Learning-by-Doing Model -- 7.1.1 Industry-Specific Technology Transfers -- 7.1.2 When There Are No Technology Transfers -- 7.1.3 Innovation as a Source of Comparative Advantage -- 7.2 Other Sectoral Models of Trade and Economic Growth -- 7.2.1 More Complex Models of Learning -- 7.2.2 Demand Driven Technological Progress -- 7.3 Terms of Trade Arguments for Protection -- 7.3.1 Immizerizing Growth.

7.3.2 The Terms of Trade Effect of Foreign Growth -- 7.3.3 An Alternative Scenario: Trade Itself Diffuses Technology -- 7.3.4 The Long-Run Dynamics of Knowledge Transfers -- 7.3.5 Some Additional Points -- 7.4 Protectionism to Promote Technological Progress -- 7.4.1 The Infant Industry Argument for Protection -- 7.4.2 The Argument's Many Implicit Assumptions -- 7.5 Import Substitution Policies -- 7.5.1 Why Import Substitution Policies Were Popular -- 7.5.2 The Favorable Political Environment -- 7.5.3 An Assessment of IS Policies -- 7.5.4 How Well Do Governments Pick Winners? -- 7.6 Conclusions -- Chapter 8 - Trade and Technology Transfers -- 8.1 Domestic Technology vs. Adopted Technology -- 8.1.1 Direct and Indirect Technology Transfers -- 8.1.2 Technology Moves Slowly -- 8.1.3 The Costs of Adopting New Technology -- 8.1.4 The Costs of Adopting Foreign Technology -- 8.2 Empirical Evidence on Technology Diffusion -- 8.2.1 Tracing Patent Citations -- 8.2.2 Statistical Analysis of R&D Activity -- 8.2.3 International and Inter-Sectoral Transfers -- 8.3 Summary and Conclusions -- Chapter 9 - Restating the Case for Free Trade -- 9.1 Dynamic Arguments for Free Trade -- 9.2 A Much More General View of Trade and Growth -- 9.2.1 The Gains from Dealing with Strangers -- 9.2.2 Dependence on Strangers Is Inherently Problematic -- 9.2.3 Getting the Institutions Right -- 9.3 Final Comments -- Bibliography -- Author Index -- Subject Index -- About the Authors.

Unlike any other text on international trade, this groundbreaking book focuses on the dynamic long-run relationship between trade and economic growth rather than the static short-run relationship between trade and economic efficiency. The authors begin with well-known theory on international trade, and then take the student into more recent and less well-known work, all with a careful balance between empirical and theoretical perspectives. A valuable teaching tool for courses in international economics, economic growth, and economic development at both the undergraduate and graduate levels, the book uses some very modest algebra, calculus, and statistics. However, most analytical discussions are built around diagrams in order to make the text accessible to students with a variety of social science backgrounds. An Instructor's Manual is available to professors who adopt the text.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2019. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

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