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Benefit-Cost Appraisals of Export Processing Zones: A Survey of the Literature

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  • Kankesu Jayanthakumaran

    (University of Wollongong, New South Wales, Australia)

Abstract

This article surveys research on the performance of Export Processing Zones (EPZs) using a benefit-cost analytical framework. Results suggest that zones in South Korea, Malaysia, Sri Lanka, China and Indonesia are economically efficient and generate returns well above estimated opportunity costs. On the other hand, the heavy infrastructure costs involved in setting up the zone in the Philippines resulted in a negative net present value. The zones have been an important source of employment in all cases and have promoted local entrepreneurs in some. However, as industrial development proceeds, the gap between the market and opportunity costs of labour narrows and the interest in EPZs tends to disappear. It may hold only if the zones generate private profit to domestic shareholders. Copyright Overseas Development Institute, 2003.

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Bibliographic Info

Article provided by Overseas Development Institute in its journal Development Policy Review.

Volume (Year): 21 (2003)
Issue (Month): 1 (01)
Pages: 51-65

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Handle: RePEc:bla:devpol:v:21:y:2003:i:1:p:51-65

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Cited by:
  1. World Bank, 2006. "Fostering Higher Growth and Employment in the Kingdom of Morocco," World Bank Publications, The World Bank, number 7114, October.
  2. Walkenhorst, Peter & Malouche, Mariem, 2006. "Trade Policy and Export Performance in Morocco," MPRA Paper 23119, University Library of Munich, Germany.
  3. Jean-Pierre Cling & Mireille Razafindrakoto & François Roubaud, 2007. "Export Processing Zones in Madagascar: the impact of the dismantling of clothing quotas on employment and labour standards," Working Papers DT/2007/06, DIAL (Développement, Institutions et Mondialisation).
  4. Cling, Jean-Pierre & Razafindrakoto, Mireille & Roubaud, Francois, 2005. "Export processing zones in Madagascar: a success story under threat?," World Development, Elsevier, vol. 33(5), pages 785-803, May.
  5. Walkenhorst, Peter & Cattaneo, Olivier, 2006. "Trade, Diversification and Growth in Nigeria," MPRA Paper 23735, University Library of Munich, Germany.
  6. Kalim Shah & Jorge Rivera, 2008. "Export processing zones and corporate environmental performance in emerging economies: The case of the oil, gas, and chemical sectors of Trinidad and Tobago," Policy Sciences, Springer, vol. 41(2), pages 181-182, June.
  7. Jayanthakumaran, Kankesu & Lee, Shao-Wei, 2007. "An initial push for successful transition from import substitution to export-orientation in Taiwan and China: The FDI-led hypothesis," Economics Working Papers wp07-03, School of Economics, University of Wollongong, NSW, Australia.
  8. Peerally, Jahan Ara & Cantwell, John A, 2012. "Changes in Trade Policies and the Heterogeneity of Domestic and Multinational Firms’ Strategic Response: The Effects on Firm-Level Capabilities," World Development, Elsevier, vol. 40(3), pages 469-485.
  9. World Bank, 2012. "World Development Report 2013 : Jobs," World Bank Publications, The World Bank, number 11843, October.
  10. World Bank, 2007. "Nigeria - Competitiveness and Growth : Country Economic Memorandum, Volume 2. Main Report," World Bank Other Operational Studies 7824, The World Bank.

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