Trade policies and growth in emerging economies: policy experiments

Choi Seung Mo; Kim Hwagyun; Ma Xiaohan

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Trade policies and growth in emerging economies: policy experiments

机译：新兴经济体的贸易政策和增长：政策实验

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This paper analyzes a dynamic endogenous growth model to quantify the channels through which international trade affects longer-term growth of an emerging economy, with an emphasis on the role played by trade policies. In the model, trade can promote (i) labor migration from agricultural to non-agricultural sectors and (ii) the inflow of foreign knowledge to enhance productivity in non-agricultural sector. The model is estimated to match with the data from selected advanced and emerging economies. Policy experiments suggest that openness to trade and elimination of trade barriers would raise annual real GDP growth by up to three percentage points for decades.

机译：本文分析了动态内源性增长模型，以量化国际贸易影响新兴经济经济长期增长的渠道，重点是贸易政策的作用。在该模型中，贸易可以促进（i）从农业到非农业部门的劳动力迁移，并促进外国知识的流入，以提高非农业部门的生产力。估计该模型与来自所选高级和新兴经济体的数据相匹配。政策实验表明，交易和消除贸易壁垒的开放将使年度真正的GDP增长高达三年数十年。

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来源
《Review of world economics》 |2021年第3期|603-629|共27页
作者
Choi Seung Mo; Kim Hwagyun; Ma Xiaohan;
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作者单位

Int Monetary Fund 1900 Penn Ave Northwest Washington DC 20006 USA;

Texas A&M Univ Mays Business Sch Dept Finance 360p Wehner Bldg College Stn TX 77843 USA;

Texas Tech Univ Dept Econ Lubbock TX 79409 USA;

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原文格式 PDF
正文语种 eng
中图分类
关键词
Growth; Structural transformation; Learning by doing; Knowledge spillover; Trade policies;

机译：增长;结构转型;通过执行学习;知识溢出;贸易政策;

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2. Trade Policy in a Small Advanced Transition Economy: Trade Policy Review of Slovenia, 2002 [J] . Joze P. Damijan, Boris Majcen The World Economy . 2003,第9期

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3. Evaluating policy success of emissions trading schemes in emerging economies: comparing the experiences of Korea and Kazakhstan [J] . Howie Peter, Gupta Shreekant, Park Hojeong, Climate Policy . 2020,第1a5期

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5. Political economy of domestic-trade policy linkage: The impact of the AT&T divestiture on United States telecommunications trade policy. [D] . Kim, Jungsoo. 1991

机译：国内贸易政策联系的政治经济学：AT＆T资产剥离对美国电信贸易政策的影响。
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机译：金融发展和货币政策的分配效应货币政策的分配后果是否取决于金融发展的程度？各国的最优货币政策应该不同吗？为了回答这些问题，我们开发了一个具有异构代理的货币增长生产模型。在我们的经济中，最优政策需要权衡两个群体的政策效应 - 资本所有者和持有流动资产的个人。虽然银行帮助限制通胀风险，但存在限制，因为资金减轻了私人信息的摩擦和有限的沟通。在这种环境下，我们比较两个经济体在各个方面都是相同的，除了它们的金融发展水平。在金融发展有限的国家，缺乏股票市场。另一方面，股票市场活跃。在任一经济体中，通胀都会对资本形成和产出产生不利影响持有流动资产的个人总是受到通货膨胀的不利影响，但资本所有者的态度取决于金融发展的水平。特别是，在股票市场存在的情况下，通货膨胀对资本所有者福利的影响是非单调的。尽管如此，在较高的金融发展水平下，最优货币政策总是更加保守。

Trade policies and growth in emerging economies: policy experiments

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