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A multi-disciplinary investigation of how economic globalization can help achieve the UN's 2030 Agenda, exploring trade-offs among the Goals.
Developing countries typically have wage rates that are a small fraction of those in developed countries. Trade theories traditionally attributed this difference to two factors: the relative abundance of the labor supply in the two countries and the relative value of the goods produced. These factors, however, inadequately explain the full differential in almost every comparison of developed and developing countries since the second World War. Providing an important and original perspective for understanding both the development process and policies aimed at raising the standard of living in poorer nations, Perspectives on Trade and Development gathers sixteen of Anne O. Krueger's most important essays on international trade and development economics. Her essays discuss the relationships between trade strategies and development; the links between factor endowments, developing countries' policies, and trade strategies in terms of their growth; the role of economic policy in development; and the international economic environment in which development efforts are taking place. Her analyses are extended to trade and development policies generally, and account for a substantial part of the residue unexplained by past theories. This insightful contribution by an influential scholar will be essential reading for all scholars of trade and development.
This edition focuses on trade connectivity, which is critical for inclusiveness and sustainable development. Physical connectivity enables the movement of goods and services to local, regional and global markets.
This enlightening book offers a comprehensive historical analysis of the main development challenges of the last half century and the international community’s response through aid and trade. Much has happened: the oil crises of the 1970s, the debt crises of the 1980s, the break-up of the Soviet Union in the 1990s, the Millennium Development Goals, the onslaught of Globalization and the rise of its opponents since the financial crisis of the 2000s. Through it all, development has spread and global poverty declined. The volume assesses the contributions and coherence of developing and developed country policies and the role played by global institutions entrusted with responsibilities to enhance trade and support development. The volume concludes with a focus on the prospects for the future and the changes needed to make globalization more equitable. With 50 years of professional experience in the World Bank, the WTO and bilateral aid agencies, Michalopoulos brings an insider’s perspective on the workings of these institutions and what needs to be done to make them more effective and responsive to changing global needs.
Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
International Trade and Transportation Infrastructure Development: Experiences in North America and Europe examines the impact of trade agreements, such as the North American Trade Agreement (NAFTA) and the European Union Customs Union, and their relationship to transportation systems and infrastructure in member countries. It analyzes historical trade by mode, evaluating modal shifts due to trade policy and disputes, and their implications for all involved nations. This book also examines both supply and demand trends, reviewing transportation processes, and the stakeholders involved. Capacity development, funding mechanisms, and operational characteristics of each mode are detailed in relation to the policies that influence them. The book reviews recent trends and the impact of disruptive technologies, as well as future potential regulatory changes, with relation to upcoming infrastructure plans, project funding, and operations. This book is an ideal reference for transportation practitioners involved in planning, feasibility studies, consultation and policy for international transportation systems or infrastructure. Academic researchers and graduate students in transportation planning, international relations, and trade will also find this book useful.
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.
Globalization and its relation to poverty reduction and development is not well understood. The book identifies the ways in which globalization can overcome poverty or make it worse. The book defines the big historical trends, identifies main global flows - trade, finance, aid, migration, and ideas - and examines how each can contribute to undermine economic development. By considering what helps and what does not, the book presents policy recommendations to make globalization more effective as a vehicle for shared growth and prosperity. It will be of interest to students, researchers and anyone interested in the effects of globalization in today's economy and in international development issues.
This book critically analyses the World Trade Organization’s approach to "special and differential treatment" (SDT) to argue that it is founded on seeking exemptions from WTO obligations, instead of creating an enabling environment for developing countries to integrate fully into the multilateral trading system. Through six key sections: United States Proposal on Special and Differential Treatment Responses to United States Proposal The Evolution of Differential Treatment Failure of the Current Approach to Differential Treatment Complications Created by China’s Emergence in the Global Economy An Alternative Approach to Differential Treatment this book explores how, by adopting a new evidence-based, case-by-case approach to SDT, the development of the poorest countries can best be advanced, while at the same time ensuring that advanced developing countries carry their weight in the organization. It will be of interest to scholars and students of international trade law and political science, as well as trade practitioners such as lawyers, diplomats, and analysts.
Economic, technological, and political shifts as well as changing business strategies have driven firms to unbundle production processes and disperse them across countries. Thanks to these changes, developing countries can now increase their participation in global value chains (GVCs) and thus become more competitive in agriculture, manufacturing and services. This is a paradigm shift from the 20th century when countries had to build the entire supply chain domestically to become competitive internationally. For policymakers, the focus is on boosting domestic value added and improving access to resources and technology while advancing development goals. However, participating in global value chains does not automatically improve living standards and social conditions in a country. This requires not only improving the quality and quantity of production factors and redressing market failures, but also engineering equitable distributions of opportunities and outcomes - including employment, wages, work conditions, economic rights, gender equality, economic security, and protecting the environment. The internationalization of production processes helps with very few of these development challenges. Following this perspective, Making Global Value Chains Work for Development offers a strategic framework, analytical tools, and policy options to address this challenge. The book conceptualizes GVCs and makes it easier for policymakers and practitioners to discuss them and their implications for development. It shows why GVCs require fresh thinking; it serves as a repository of analytical tools; and it proposes a strategic framework to guide policymakers in identifying the key objectives of GVC participation and in selecting suitable economic strategies to achieve them.