The Long-Run Effects of Structural Change and the Treatment of International Capital Accumulation, Mobility and Ownership
Taking a commonly-used and commonly-available trade policy model as our starting point, we examine the long-run effects of large-scale structural change with and without international capital accumulation, mobility and ownership. We demonstrate the relative merits and limitations of different treatments of international capital accumulation, mobility and ownership. In doing so, we present a treatment of international capital accumulation, mobility and ownership that gives policy analysts an approach to analysing the effects of large-scale structural policies that is not too heavy in its theoretical and data demands. Our findings support the work of Baldwin (1992) and others who have demonstrated that ignoring capital accumulation, mobility and ownership underestimates net output and welfare effects of large-scale structural change.
|Date of creation:||Jan 2009|
|Date of revision:|
|Publication status:||Published in Global Economic Review, vol. 38, no. 3, 2009, pp. 229-50.|
|Contact details of provider:|| Postal: |
Phone: 03 9919 1877
Web page: http://www.copsmodels.com/about.htm
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Baldwin, Richard E, 1992.
"Measurable Dynamic Gains from Trade,"
Journal of Political Economy,
University of Chicago Press, vol. 100(1), pages 162-74, February.
- McKibbin, W.J. & Wilcoxen, P.J., 1995.
"The Theoretical and Empirical Structure of the G-Cubed Model,"
118, Brookings Institution - Working Papers.
- McKibbin, Warwick J. & Wilcoxen, Peter J., 1998. "The theoretical and empirical structure of the G-Cubed model," Economic Modelling, Elsevier, vol. 16(1), pages 123-148, January.
- W. J. McKibbin & P. J. Wilcoxen, . "The Theoretical and Empirical Structure of the G-Cubed Model," Discussion Papers 118, Brookings Institution International Economics.
- Marco Fugazza & David Vanzetti, 2006.
"A South South Survival Strategy: The Potential for Trade among Developing Countries,"
UNCTAD Blue Series Papers
33, United Nations Conference on Trade and Development.
- Marco Fugazza & David Vanzetti, 2008. "A South-South Survival Strategy: The Potential for Trade among Developing Countries," The World Economy, Wiley Blackwell, vol. 31(5), pages 663-684, 05.
- Anderson, Kym & Martin, Will & Valenzuela, Ernesto, 2006.
"The relative importance of global agricultural subsidies and market access,"
World Trade Review,
Cambridge University Press, vol. 5(03), pages 357-376, November.
- Anderson, Kym & Martin, Will & Valenzuela, Ernesto, 2006. "The Relative Importance of Global Agricultural Subsidies and Market Access," CEPR Discussion Papers 5569, C.E.P.R. Discussion Papers.
- Anderson, Kym & Martin, William J. & Valenzuela, Ernesto, 2006. "The Relative Importance of Global Agricultural Subsidies and Market Access," 2006 Annual meeting, July 23-26, Long Beach, CA 21180, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Anderson, Kym & Martin, Will & Valenzuela, Ernesto, 2006. "The relative importance of global agricultural subsidies and market access," Policy Research Working Paper Series 3900, The World Bank.
- Kym Anderson & Mari Pangestu, 1998. "Structural Changes in a Reforming World Economy: Implications for Indonesia," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 34(3), pages 85-113.
- Martin Feldstein & Charles Horioka, 1979.
"Domestic Savings and International Capital Flows,"
NBER Working Papers
0310, National Bureau of Economic Research, Inc.
- Walmsley, Terrie L., 2002. "Incorporating international ownership of endowments into a global applied general equilibrium model," Economic Modelling, Elsevier, vol. 19(5), pages 679-707, November.
- Harrison, W Jill & Pearson, K R, 1996.
"Computing Solutions for Large General Equilibrium Models Using GEMPACK,"
Society for Computational Economics, vol. 9(2), pages 83-127, May.
- W. Jill Harrison & K.R. Pearson, 1994. "Computing Solutions for Large General Equilibrium Models Using GEMPACK," Centre of Policy Studies/IMPACT Centre Working Papers ip-64, Victoria University, Centre of Policy Studies/IMPACT Centre.
- Adams, Philip D., 2005. "Interpretation of results from CGE models such as GTAP," Journal of Policy Modeling, Elsevier, vol. 27(8), pages 941-959, November.
- Smith, M. A. M., 1976. "Trade, growth and consumption in alternative models of capital accumulation," Journal of International Economics, Elsevier, vol. 6(4), pages 371-384, November.
- Islam, Sulequl, 2003. "Expansions of the European Union and the NAFTA: Implications for New and Non-Member countries," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 3(2).
- Martin, W. & Winters, L.A., 1995. "The Uruguay Round and the Developing Countries," World Bank - Discussion Papers 307, World Bank.
- Nijkamp, Peter & Wang, Shunli & Kremers, Hans, 2005. "Modeling the impacts of international climate change policies in a CGE context: The use of the GTAP-E model," Economic Modelling, Elsevier, vol. 22(6), pages 955-974, December.
- Hoekman, B. & Sauve, P., 1995. "Liberalizing Trade in Services," World Bank - Discussion Papers 243, World Bank.
- Ianchovichina, Elena & Robert McDougall, 2000. "Theoretical Structure of Dynamic GTAP," GTAP Technical Papers 480, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
- Smith, M A M, 1977. "Capital Accumulation in the Open Two-Sector Economy," Economic Journal, Royal Economic Society, vol. 87(346), pages 273-82, June.
- Brockmeier, Martina & Pelikan, Janine, 2008. "Agricultural market access: A moving target in the WTO negotiations?," Food Policy, Elsevier, vol. 33(3), pages 250-259, June.
- Santiago Fernandez de Córdoba & Sam Laird & David Vanzetti, 2005. "Trick or Treat? Development Opportunities and Challenges in the WTO Negotiations on Industrial Tariffs," The World Economy, Wiley Blackwell, vol. 28(10), pages 1375-1400, October.
When requesting a correction, please mention this item's handle: RePEc:cop:wpaper:g-179. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Horridge)
If references are entirely missing, you can add them using this form.