Trade Liberalisation and The Poverty of Nations

Thirlwáll, A. P.; Pacheco‐López, Penélope

doi:10.4337/9781848444010

Cited by 23 publications

(12 citation statements)

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“…The "new" theories of international trade generally do not dispute the conventional views on the desirability of free trade. Of course, opinions openly doubting the benefits to individual nations of freer trade (often hinting at the advantages of some levels of protectionism) are not quite rare, especially among students of the developing countries (starting from Bhagwati 1958to Stiglitz 2001or Thirlwall -Pacheco-Lopez 2008. Interestingly, even Paul Samuelson (2004), the "Pope" of neoclassical trade theory, expressed some heretical doubts about the doctrine he had long preached.…”

Section: The More (Free) Trade the Better?mentioning

confidence: 99%

Globalization, secular stagnation, and soft national balances: A pro-equilibrium manifesto

Podkaminer

2018

Acta Oeconomica

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It is argued that increased freedom to run economic activities combined with the growing impotence of national governments (i.e., globalization) have contributed to the secular growth slowdown at the global level. Fast globalisation-driven growth of international trade has unleashed the global race for economic surpluses. The process involves the suppression of wages and widening income inequalities – restricting aggregate demand globally. A “beggar-thy-neighbor” tactics of keeping large trade surpluses by countries successfully suppressing wages and domestic demand is likely to be unproductive. Overcoming the secular stagnation may not be possible without safeguarding equilibrium (or balance) in international transactions between major industrial countries – even if this may necessitate that in most (or all) of them the public sectors run large fiscal deficits permanently.

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Section: The More (Free) Trade the Better?mentioning

confidence: 99%

Globalization, secular stagnation, and soft national balances: A pro-equilibrium manifesto

Podkaminer

2018

Acta Oeconomica

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“…The liberalisation of trade has given a fillip to the growth of world trade relative to world output. Countries with more liberal trading regime have experienced high export growth and more economic growth too (Thirlwall& Pacheco-Lopez, 2008). The most notable and successful countries who gain from trade are the tiny South-East Asian countries between 1970s and the mid-1990s.…”

Section: Introductionmentioning

confidence: 99%

Export or Domestic Demand-Led Growth in BRICS Countries?

Mishra¹,

Nancharaiah²

2016

The Indian Economic Journal

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“…The decrease in public spending could hinder growth and cutting welfare spending may hurt the poor. Therefore, the spending adjustments in the wake of trade liberalization may damage future growth and the poorer segments in the economy (Thirlwall and Pacheco-Lopez, 2008;Winters et al, 2004). 1 Yet, in the 1990s, China successfully navigated the dilemma of trade liberalization and government revenues.…”

Section: Introductionmentioning

confidence: 99%

How China Navigated the Dilemma of Trade Liberalization and Government Revenues

Guo¹

2013

Development and Change

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Many economists believe that in the long run, the aggregate performance of open economies is better than that of closed ones, and that open policies contribute significantly to economic development. At the same time, many political scientists and policy makers fear that, in the short run, one of the steps towards openness -trade liberalization -may harm government revenues. However, in the 1990s, China successfully navigated the dilemma of trade liberalization and government revenues. In this period, China decreased tariff and non-tariff barriers for WTO accession, but has achieved dramatically increased tariff revenues since 1999. This study explores how China implemented trade liberalization and simultaneously increased tariff revenues in the 1990s. It demonstrates that a series of institutional arrangements, including a reform of Criminal Law, rigorous anti-smuggling activities and a de facto tax imposed on the export sector, successfully curbed smuggling activities through the processing trade, and made foreign-invested manufacturing enterprises the major contributors to the stability of customs revenue. China's case shows that a prosperous, export-oriented and foreign-invested manufacturing sector could potentially provide a developing country with a source of customs revenue.

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Trade Liberalisation and The Poverty of Nations

Cited by 23 publications

References 0 publications

Globalization, secular stagnation, and soft national balances: A pro-equilibrium manifesto

Globalization, secular stagnation, and soft national balances: A pro-equilibrium manifesto

Export or Domestic Demand-Led Growth in BRICS Countries?

How China Navigated the Dilemma of Trade Liberalization and Government Revenues

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