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Échange international et distorsions internes : Comment gouverner la globalisation ?

Author

Listed:
  • Jean-Luc Gaffard

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po, GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

  • Francesco Saraceno

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

Changes in the pattern of international trade inevitably create distortions that perturb the functioning of the economy. These distortions may not be reduced to malfunctioning goods or labour markets, and hence cannot be eliminated by simply choosing the optimal institutions. Domestic distortions call for domestic solutions. To explore these solutions it is useless to analyze the properties of equilibria before and after the opening to trade. Rather, we need to build an analytical framework suited to investigate the characteristics of a transition process whose success is not guaranteed ex ante. it appears that wage rigidity and an easy access to external financial resources are necessary in presence of fast pace of change, while if change is sufficiently slow the standard recipe of wage flexibility may be appropriate. These results may help in the institutional and organizational choices to be implemented in economies willing to profit from international trade and globalization.

Suggested Citation

  • Jean-Luc Gaffard & Francesco Saraceno, 2007. "Échange international et distorsions internes : Comment gouverner la globalisation ?," SciencePo Working papers Main hal-03461954, HAL.
    • Handle: RePEc:hal:spmain:hal-03461954
    DOI: 10.3917/reof.102.0205
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03461954
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    References listed on IDEAS

    as
    1. Mario Amendola & Jean-Luc Gaffard & Francesco Saraceno, 2004. "Wage Flexibility and Unemployment: The Keynesian Perspective Revisited," SciencePo Working papers Main hal-03399106, HAL.
    2. repec:hal:spmain:info:hdl:2441/1261 is not listed on IDEAS
    3. Jean-Luc Gaffard & Francesco Saraceno, 2007. "International Trade and Domestic Distortions: Modelling the Transition Process," Documents de Travail de l'OFCE 2007-18, Observatoire Francais des Conjonctures Economiques (OFCE).
    4. Dani Rodrik, 1998. "Why Do More Open Economies Have Bigger Governments?," Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 997-1032, October.
    5. Mario Amendola & Jean‐Luc Gaffard & Francesco Saraceno, 2004. "Wage Flexibility and Unemployment: The Keynesian Perspective Revisited," Scottish Journal of Political Economy, Scottish Economic Society, vol. 51(5), pages 654-674, November.
    6. Jean-Luc Gaffard & Francesco Saraceno, 2007. "International Trade and Domestic Distortions: Modelling the Transition Process," SciencePo Working papers Main hal-00972846, HAL.
    7. Paul Krugman, 1985. "A ‘Technology Gap’ Model of International Trade," International Economic Association Series, in: Karl Jungenfelt & Douglas Hague (ed.), Structural Adjustment in Developed Open Economies, chapter 2, pages 35-61, Palgrave Macmillan.
    8. repec:hal:wpspec:info:hdl:2441/1261 is not listed on IDEAS
    9. Amendola, Mario & Gaffard, Jean-Luc, 1998. "Out of Equilibrium," OUP Catalogue, Oxford University Press, number 9780198293804.
    10. Richard A. Brecher, 1974. "Minimum Wage Rates and the Pure Theory of International Trade," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 88(1), pages 98-116.
    Full references (including those not matched with items on IDEAS)

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