Trade liberalization, factor mobility and regional growth
Article Abstract:
Trade l;iberalization tends to promote regional economic growth as does the reduction of barriers to labor migration. This is evident from a dynamic analysis of regional growth over the long term. A two-region model can be set up to examine specialization and regional growth. Multilateral trade liberalization has more impact than unilateral liberalization. Reduction of labor migration barriers allows unskilled workers to migrate. There may be problems where regional integration takes place in a context of initial high tariff barriers.
Publication Name: Journal of Institutional & Theoretical Economics
Subject: Economics
ISSN: 0932-4569
Year: 1995
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Geographical transaction costs and regional quality ladders
Article Abstract:
There is a relationship between the development of regions and innovation. Regional integration is occurring and regions will increasingly become units of study rather than nations. Geographical transaction costs occur when intermediate goods are produced in one region and used in another. Regional quality ladders are evident and they are dependent on innovation. The extent to which regions have production factors that cannot be moved, and the history of mobile companies in the region will affect innovation and growth in that region.
Publication Name: Journal of Institutional & Theoretical Economics
Subject: Economics
ISSN: 0932-4569
Year: 1995
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Free trade vesus managed trade: a constitutional political economy perspective
Article Abstract:
Free trade, provate property and freedom to associate and form contracts are seen by classical economists as allowing individuals to pursue their own interests in a way that benefits society. Managed trade is a poor substitute for free trade and gives too much power to pressure groups. The General Agreement on Tariffs and Trade (GATT) should be strengthened in order to foster free trade. Interest groups such as importers and consumers could help strengthen GATT.
Publication Name: Journal of Institutional & Theoretical Economics
Subject: Economics
ISSN: 0932-4569
Year: 1995
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