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In this paper we demonstrate the importance of distinguishing capital goods tariffs from other tariffs. Using exposure to a quasi-natural experiment induced by a trade reform in Colombia, we find that firms that have been more exposed to a reduction in intermediate and consumption input or output tariffs do not significantly increase their investment rates. However, firms’ investment rate increase strongly in response to a reduction in capital goods input tariffs. Firms do not substitute capital with labor, but instead also increase employment, especially for production workers. Reduction in other tariff rates do not increase investment and employment. Our results suggest that a reduction in the relative price of capital goods can significantly boost investment and employment and does not seem to lead to a decline in the labor share.
The problems related to the process of industrialisation such as biodiversity depletion, climate change and a worsening of health and living conditions, especially but not only in developing countries, intensify. Therefore, there is an increasing need to search for integrated solutions to make development more sustainable. The United Nations has acknowledged the problem and approved the “2030 Agenda for Sustainable Development”. On 1st January 2016, the 17 Sustainable Development Goals (SDGs) of the Agenda officially came into force. These goals cover the three dimensions of sustainable development: economic growth, social inclusion and environmental protection. The Encyclopedia of the UN Sustainable Development Goals comprehensively addresses the SDGs in an integrated way. It encompasses 17 volumes, each one devoted to one of the 17 SDGs. This volume addresses SDG 9, namely “Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation” and contains the description of a range of terms, to allow a better understanding and foster knowledge about it. This book presents a set of papers on the state of the art of knowledge and practices about three important aspects of sustainable development, infrastructure, industrialization and innovation. It focuses on the support of cleaner technologies, enhanced scientific research, domestic technology development and universal internet access. Concretely, the defined targets are: Develop quality, reliable, sustainable and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes, with all countries taking action in accordance with their respective capabilities Enhance scientific research, upgrade the technological capabilities of industrial sectors in all countries, in particular developing countries, including encouraging innovation and substantially increasing the number of research and development workers per 1 million people and public and private research and development spending Facilitate sustainable and resilient infrastructure development in developing countries through enhanced financial, technological and technical support to African countries, least developed countries, landlocked developing countries and small island developing states Support domestic technology development, research and innovation in developing countries, including by ensuring a conducive policy environment for, inter alia, industrial diversification and value addition to commodities Significantly increase access to information and communications technology and strive to provide universal and affordable access to the Internet in least developed countries Editorial BoardOluwabunmi Opeyemi Adejumo, Leah A Dundon, Lizhen Huang, Heather Jones, Haruna Musa Moda
In the early 1980's, Jiang Zemin, then Minister of Electronics Ministry of China, assessed the IT industry as 'the strategic high ground in international competition.' He "perceived the discrepancy between China's level and the world's advanced level was so great that we had to do our utmost to catch up." Since then through numerous articles and frequent speeches he has drawn up a detailed technological and policy roadmap for doing exactly that. This volume collects over 25 pieces written over more than 20 years. It demonstrates the former president of China's authority and insight into the development of China's IT industry since the introduction of reforms, and the cutting-edge issues experienced throughout the global IT industry. Jiang's ambitious goal is the transformation of China into a leader in the global IT industry by 2020. This volume offers IT industry analysts, China watchers, policy makers and advisors, IT researchers, and investors a singular and authoritative view on how China should get there. - Establishes key measurements for the development of China's IT industry - Sets forth the priorities for government and industry - Identifies opportunities for interrelating military and civilian R&D and applications - Reveals key obstacles to progress and directives for overcoming them - Sets out an R&D agenda for industry - Names the core industry sectors for government and industry investment - Identifies opportunities and the necessity for international collaboration - Establishes the need to develop China's own IPR and to respect and protect others' IPR
The analysis and adjustment of government expenditure in less developed countries is discussed. A better balance between supply and demand in the public sector can be achieved by raising budgetary revenues, or by cutting budgetary expenditures, or by some combination of both. The IMF devotes considerable attention to assisting countries to make their tax systems more buoyant, to reduce the disincentive effects of taxation, and to administer their tax systems more effectively. Government expenditure policies are often important elements in programs of external adjustment supported by the IMF.
Have you ever wondered what a term in international economics means? This useful reference book offers a glossary of terms in both international trade and international finance, with emphasis on economic issues. It is intended for students getting their first exposure to international economics, although advanced students will also find it useful for some of the more obscure terms that they have forgotten or never encountered.Besides an extensive glossary of terms that has been expanded about 50% from the first edition, there is a picture gallery of diagrams used to explain key concepts such as the Edgeworth Production Box and the Offer Curve Diagram in international economics. This section is followed by over 30 lists of terms that occur a lot in international economics, grouped by subject to help users find terms that they cannot recall.Prior to an enlarged bibliography is an expanded section on the origins of terms in international economics, which records what the author has been able to learn about the origins of some of the terms used in international economics. This is a must-have portable glossary in international trade and international economics!
People passionately disagree about the nature of the globalization process. The failure of both the 1999 and 2003 World Trade Organization's (WTO) ministerial conferences in Seattle and Cancun, respectively, have highlighted the tensions among official, international organizations like the WTO, the International Monetary Fund (IMF), the World Bank, nongovernmental and private sector organizations, and some developing country governments. These tensions are commonly attributed to longstanding disagreements over such issues as labor rights, environmental standards, and tariff-cutting rules. In addition, developing countries are increasingly resentful of the burdens of adjustment placed on them that they argue are not matched by commensurate commitments from developed countries. Challenges to Globalization evaluates the arguments of pro-globalists and anti-globalists regarding issues such as globalization's relationship to democracy, its impact on the environment and on labor markets including the brain drain, sweat shop labor, wage levels, and changes in production processes, and the associated expansion of trade and its effects on prices. Baldwin, Winters, and the contributors to this volume look at multinational firms, foreign investment, and mergers and acquisitions and present surprising findings that often run counter to the claim that multinational firms primarily seek countries with low wage labor. The book closes with papers on financial opening and on the relationship between international economic policies and national economic growth rates.
This clear, concise summary of the in-depth analyses presented in The Political Economy of American Trade Policy examines the level, form, and evolution of American trade protection. In case studies of trade barriers imposed during the 1980s to help the steel, semiconductor, automobile, lumber, wheat, and textile and apparel industries, the contributors trace the evolution of efforts to obtain protection, protectionist measures, and their results. A chapter assessing the common themes that emerge from the studies concludes that the focus of current trade law is exclusively on the individual protection-seeking industries, with little regard for indirect effects on using industries or for consumers. Reform could usefully take these effects into account. This volume will interest policymakers, business executives, and anyone interested in trade policy formulation and practice.
This book provides a rigorously chronological journey through the economic history of modern Spain, always with an eye opened to what happens in the international economy and a focus on economic policy making and institutional change. It shows the central theme of the Spanish economy from the late 18th century to the early 21st century is the painful transformation from being a major imperial power to a small nation and later a member of the European Community and a player in a globalized economy. It looks in detail at two major issues - economic growth and convergence or divergence to the Western European pattern- and the permanent tension between the two when assessing historical experience since the industrial revolution. This book proposes new visions of the economic past of Spain and provides comparisons over time and space, which will be of interest to academics and students of economic history, European economic history and more specifically Spanish economic history.