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Measurement and Modeling of the Economic Effects of Trade and Investment Barriers in Services

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  • Brown, Drusilla K
  • Stern, Robert M

Abstract

In this paper, the authors adapt the latest version of the Michigan Model of World Production and Trade to incorporate cross-border services trade and foreign direct investment (FDI). Firms are taken to be monopolistically competitive. Each firm produces products differentiated by the original R&D that defines the basic product and by location of production. Each firm faces a fixed cost in the country where production occurs, and sets an optimal mark-up for sales from each location. Firms locate production for export or for local consumption depending on the type of barriers faced. Barriers to trade in services take the form of an additional cost of employing variable capital and labor. The paper reports the impact on welfare, trade, factor prices, sectoral output, economies of scale, and activities of multinationals following the introduction of national treatment of multinational firms in all countries. Copyright 2001 by Blackwell Publishing Ltd.

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Article provided by Wiley Blackwell in its journal Review of International Economics.

Volume (Year): 9 (2001)
Issue (Month): 2 (May)
Pages: 262-86

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Handle: RePEc:bla:reviec:v:9:y:2001:i:2:p:262-86

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  1. Philip D. Adams, 1998. "Long-run Effects of APEC Trade Liberalisation: An Applied General Equilibrium Analysis," The World Economy, Wiley Blackwell, vol. 21(7), pages 931-952, 09.
  2. Hoekman, Bernard & Primo Braga, Carlos A., 1997. "Protection and trade in services : a survey," Policy Research Working Paper Series 1747, The World Bank.
  3. Markusen, James & Rutherford, Thomas F. & Tarr, David, 2000. "Foreign direct investment in services and the domestic market for expertise," Policy Research Working Paper Series 2413, The World Bank.
  4. Markusen, James R. & Rutherford, Thomas F. & Hunter, Linda, 1995. "Trade liberalization in a multinational-dominated industry," Journal of International Economics, Elsevier, vol. 38(1-2), pages 95-117, February.
  5. Philip D. Adams & Mark Horridge & Brian Parmenter & Xiao-Guang Zhang, 1998. "Long-run Effects on China of APEC Trade Liberalisation," Centre of Policy Studies/IMPACT Centre Working Papers g-130, Victoria University, Centre of Policy Studies/IMPACT Centre.
  6. Ianchovichina, Elena & Robert McDougall & Thomas W. Hertel, 2000. "A Disequilibrium Model of International Capital Mobility," GTAP Working Papers 399, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
  7. Philippa Dee & Kevin Hanslow, 2002. "Multilateral liberalisation of services trade," International Trade 0207002, EconWPA.
  8. Alan V. Deardorff & Robert M. Stern, 1997. "Measurement of Non-Tariff Barriers," OECD Economics Department Working Papers 179, OECD Publishing.
  9. Terrie L. Walmsley, 1999. "Incorporating International Capital Ownership into the GTAP Model: Results for Asia-Pacific Trade Liberalisation," Centre of Policy Studies/IMPACT Centre Working Papers ip-72, Victoria University, Centre of Policy Studies/IMPACT Centre.
  10. Winters, L. Alan, 1994. "The Liberalization of European Steel Trade," CEPR Discussion Papers 1002, C.E.P.R. Discussion Papers.
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