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Why has trade grown faster than income?

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  • Andrew K. Rose

Abstract

Trade of the OECD countries has grown faster than income during the postwar period. This paper tests a number of different hypotheses for the observed growth in the trade/income ratio. For small open economies, increases in real output and international reserves, as well as declines in tariff rates are associated with growth in the ratio. There are important differences in the behavior of the trade ratio across time and country size.

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Bibliographic Info

Paper provided by Board of Governors of the Federal Reserve System (U.S.) in its series International Finance Discussion Papers with number 390.

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Date of creation: 1990
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Handle: RePEc:fip:fedgif:390

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Related research

Keywords: Income ; International trade;

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Cited by:
  1. David Hummels & Dana Rapoport & Kei-Mu Yi, 1998. "Vertical specialization and the changing nature of world trade," Economic Policy Review, Federal Reserve Bank of New York, issue Jun, pages 79-99.
  2. Dan Ben-David & David H. Papell, 1997. "International Trade and Structural Change," NBER Working Papers 6096, National Bureau of Economic Research, Inc.
  3. Benjamin Bridgman, 2008. "Data files for "Energy Prices and the Expansion of World Trade"," Technical Appendices 06-199, Review of Economic Dynamics.
  4. Jun Ishii & Kei-Mu Yi, 1997. "The growth of world trade," Research Paper 9718, Federal Reserve Bank of New York.
  5. Suleiman ABU-BADER & Aamer S. ABU-QARN, 2008. "The Impact Of Gatt On International Trade: Evidence From Structural Break Analysis," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 8(2), pages 23-36.
  6. Robert C. Feenstra, 1998. "Integration of Trade and Disintegration of Production in the Global Economy," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 31-50, Fall.
  7. Hummels, David & Ishii, Jun & Yi, Kei-Mu, 2001. "The nature and growth of vertical specialization in world trade," Journal of International Economics, Elsevier, vol. 54(1), pages 75-96, June.
  8. Robert E. Kohn & Paul E. Chambers, 2000. "Pollution Abatement and International Self-Sufficiency," Eastern Economic Journal, Eastern Economic Association, vol. 26(2), pages 213-219, Spring.
  9. Benjamin Bridgman, . "Energy Prices and the Expansion of World Trade," Departmental Working Papers 2003-14, Department of Economics, Louisiana State University.
  10. Kei-Mu Yi, 2000. "Can vertical specialization explain the growth of world trade?," Staff Reports 96, Federal Reserve Bank of New York.
  11. Andrew K. Rose & Jonathan D. Ostry, 1989. "Tariffs and the macroeconomy: evidence from the USA," International Finance Discussion Papers 365, Board of Governors of the Federal Reserve System (U.S.).
  12. Céline Carrère & Maurice Schiff, 2005. "On the Geography of Trade. Distance is Alive and Well," Revue économique, Presses de Sciences-Po, vol. 56(6), pages 1249-1274.
  13. Mauricio Cárdenas & Camilo García Jimeno, 2004. "El modelo gravitacional y el TLC entre Colombia y Estados Unidos," WORKING PAPERS SERIES. DOCUMENTOS DE TRABAJO 002527, FEDESARROLLO.
  14. Suleiman Abu-Bader & Aamer Abu-Qarn, 2006. "Trade Liberalization or Oil Shocks: Which Explains Structural Breaks in International Trade Ratios?," Working Papers 227, Ben-Gurion University of the Negev, Department of Economics.

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