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Trade, Growth and Economic Inequality in the Asia-Pacific Region: Lessons for Policymakers

Author

Listed:
  • Theresa M. GREANEY

    (University of Hawaii at Manoa, Department of Economics, Saunders Hall 542, 2424 Maile Way, Honolulu, HI 96822, USA.)

  • Baybars KARACAOVALI

    (Advanced School of Economics and Commerce, University of Douala, Cameroon.)

Abstract

This policy brief is intended to provide policymakers with a summary of the results of our research project entitled Trade, Growth and Economic Inequality in the Asia-Pacific Region , which explores and documents the linkages between international trade and inequality in the Asia-Pacific Region (APR).The project s eleven research papers appeared in a special issue of the Journal of Asian Economics in February 2017. Overall, we conclude that the relationships between international trade, foreign direct investment (FDI), economic growth and inequality are extremely complicated, so no single theory should be relied upon for policy guidance across all APR countries with their varying stages of development and unique characteristics. Our studies find some evidence that trade or FDI contribute to inequality, some evidence that it reduces inequality and some evidence of no causal relationship. These seemingly conflicting results are not at all surprising given the complex relationships involved and the different countries, time periods, and means of measuring inequality, trade and FDI our authors adopted. Our main takeaway for policymakers is to be wary of both anti-trade and pro-trade advocates who provide one size fits all advice related to trade, FDI and inequality; these economic relationships are much too complex for that.

Suggested Citation

  • Theresa M. GREANEY & Baybars KARACAOVALI, 2017. "Trade, Growth and Economic Inequality in the Asia-Pacific Region: Lessons for Policymakers," Journal of Economics and Political Economy, EconSciences Journals, vol. 4(2), pages 135-143, June.
    • Handle: RePEc:cvv:journ1:v:4:y:2017:i:2:p:135-143
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    Keywords

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    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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