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Has Globalization Gone Far Enough: The Costs of Fragmented Markets

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Author Info

  • Scott Bradford
  • Robert Z. Lawrence

    (Peterson Institute for International Economics)

Abstract

The authors use the underlying data from purchasing power parity surveys to estimate the potential benefits from fully integrating goods markets among major OECD countries. These data are particularly useful because they are comprehensive, and every effort has been made to ensure that they are comparable. Input-output tables are used to eliminate distribution margins from final goods prices and thereby provide estimates of ex-factory prices. Price differentials have been taken as measures of barriers, and the welfare effects of eliminating these barriers have been estimated in a general equilibrium model. The study also provides insights into the relative openness of individual OECD countries to the world economy and the degree to which Europe has become a single market.

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Bibliographic Info

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This book is provided by Peterson Institute for International Economics in its series Peterson Institute Press: All Books with number 349 and published in 2004.

ISBN: 978-0-88132-349-8
Handle: RePEc:iie:ppress:349

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Cited by:
  1. Irawan, Tony & Welfens, Paul J. J., 2014. "Transatlantic Trade and Investment Partnership: Sectoral and Macroeconomic Perspectives for Germany, the EU and the US," IZA Policy Papers 78, Institute for the Study of Labor (IZA).
  2. Clemens, Michael A. & Montenegro, Claudio E. & Pritchett, Lant, 2008. "The place premium : wage differences for identical workers across the US border," Policy Research Working Paper Series 4671, The World Bank.
  3. Arvind Virmani & Surabhi Mittal, 2006. "Domestic Market Integration," Macroeconomics Working Papers 22271, East Asian Bureau of Economic Research.
  4. Robertson, Raymond, 2004. "Defining North American Economic Integration," North American Agrifood Integration: Situation and Perspectives, May 2004, Cancun, Mexico 16732, Farm Foundation.
  5. Himayatullah Khan & Laura Giurca Vasilescu, 2008. "Globalization – challenges and debates," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(11), pages 78-85, November.
  6. Neil Balchin, Lawrence Edwards and Asha Sundaram, 2014. "A Disaggregated Analysis of Product Price Integration in the Southern African Development Community," Working Papers 421, Economic Research Southern Africa.
  7. Chong Soo Yuen & Jung Hur, 2007. "Overlapping Free Trade Agreements of Singapore-USA-Japan: A Computational Analysis," SCAPE Policy Research Working Paper Series 0711, National University of Singapore, Department of Economics, SCAPE.
  8. Robertson, Raymond, 2004. "Defining North American Economic Integration," 2004 NAAMIC Workshop I: North American Agrifood Market Integration: Current Situtation and Perspectives 163856, North American Agrifood Market Integration Consortium (NAAMIC).
  9. Moshe Syrquin, 2004. "Globalization: tooMuch or is too Little?," CRANEC - Working Papers del Centro di Ricerche in Analisi economica e sviluppo economico internazionale crn0402, Università Cattolica del Sacro Cuore, Centro di Ricerche in Analisi economica e sviluppo economico internazionale (CRANEC).
  10. Patrick Minford, 2006. "Measuring the Economic Costs and Benefits of the EU," Open Economies Review, Springer, vol. 17(4), pages 509-524, December.

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