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Policies and International Integration: Influences on Trade and Foreign Direct Investment

Author

Listed:
  • Giuseppe Nicoletti
  • Steve Golub
  • Dana Hajkova
  • Daniel Mirza
  • Kwang-Yeol Yoo

Abstract

This paper assesses the importance of border and non-border policies for global economic integration. The focus is on four widely-advocated policies: removing explicit restrictions to trade and FDI; promoting domestic competition; improving the adaptability of labour markets; and ensuring adequate levels of infrastructure capital. The analysis covers FDI and trade in both goods and services, thus aiming to account for the most important channels of globalisation and dealing with most modes of cross-border services supply. It first describes trends in trade, FDI and the four sets of policies using a large set of structural policy indicators recently constructed by the OECD, including the new summary indicators for FDI-specific regulations described in Golub (2003). It then estimates the impact of policies on bilateral trade and bilateral and multilateral FDI. The results highlight that, despite extensive liberalisation over the past two decades, there is scope for further reducing ... Politique économique et intégration internationale : Impact sur les échanges et les investissements directs à l'étranger Cette étude évalue l’importance des politiques frontalières et non-frontalières pour l’intégration internationale. L’accent est placé sur quatre mesures largement préconisées: suppression des restrictions explicites aux échanges et à l’IDE ; encouragement de la concurrence au plan interne ; amélioration de la capacité d’ajustement des marchés du travail; et mise en place de niveaux adéquats d’équipements d’infrastructure. L’analyse, qui couvre l’IDE et les échanges de biens et de services, prend ainsi en compte les principaux mécanismes de mondialisation et traite de la plupart des modes de fourniture de services transfrontières. L’étude analyse d’abord les tendances du commerce, de l’IDE et des politiques dans les quatre domaines examinés, en utilisant un vaste ensemble d’indicateurs de politiques structurelles récemment assemblé par l’OCDE, qui comprend les nouveaux indicateurs de restrictions à l’IDE décrits par Golub (2003). Elle estime ensuite l’impact de ces politiques sur ...

Suggested Citation

  • Giuseppe Nicoletti & Steve Golub & Dana Hajkova & Daniel Mirza & Kwang-Yeol Yoo, 2003. "Policies and International Integration: Influences on Trade and Foreign Direct Investment," OECD Economics Department Working Papers 359, OECD Publishing.
  • Handle: RePEc:oec:ecoaaa:359-en
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    File URL: http://dx.doi.org/10.1787/062321126487
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    More about this item

    Keywords

    commerce international; données de panel; foreign direct investment; international trade; investissement direct étranger; liberalisation; libéralisation; panel data; regulation; régulation; services; services;

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General

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