Brazil: Boom, Bust, and Road to Recovery

IMF has recently published a new book, Brazil: Boom, Bust, & Road to Recovery, on economic conditions, development, growth, and policy in Brazil:

“Brazil is at crossroads, emerging slowly from a historic recession that was preceded by a huge economic boom. Reasons for the historic bust following a boom are manifold. Policy mistakes were an important contributory factor, and included the pursuit of countercyclical policies, introduced to deal with the effects of the global financial crisis, beyond the point where they were helpful. More fundamentally, it reflects longstanding structural weaknesses plaguing the economy, that also help explain Brazil’s uninspiring growth performance over the past four decades.”

The book is available here for consultation and download from the IMF eLibrary, with access facilitated by the WTO Library for WTO staff and library patrons.

OECD Economic Outlook 2019

OECD has launched the first 2019 issue of OECD Economic Outlook 2019, their twice-yearly analysis of world-wide economic trends and forecasts for the next two years.

The key take-aways from this first issue are identified as:

  • Global growth is stabilising at a low level
  • Key risks: trade tensions, China slowdown and high debt
  • Act now to boost opportunities

The full report can be found here, at the OECD iLibrary, accessible to WTO staff and patrons of the WTO Library.

Library acquisitions — May 2019

We are pleased to share our list of selected new acquisitions from May 2019. You can send your requests to Web.Librarian@wto.org.

The list is also available on Library’s website: http://intranet/__resources/library/_en/new_for_you_new_books.html.

For continuous updates on the latest trade news, don’t forget to check out the “Latest in trade” RSS feed: http://intranet/en/resources/library/library.htm

Kind regards,

Your WTO Library Team

Covers Title, Authors/Editor details, WTO catalogue records email request links Previews
Belt and road : a Chinese world order / Bruno Maçães.

WTO catalogue : http://wto.aquabrowser.com/?itemid=|WTO-Marc|1927598

Request: web.librarian@wto.org

Preview: http://bit.ly/2Xb53Qp
The Cambridge handbook of technical standardization law : competition, antitrust, and patents / edited by Jorge L. Contreras.

WTO catalogue : http://wto.aquabrowser.com/?itemid=|WTO-Marc|1927499

Request: web.librarian@wto.org

Preview: http://bit.ly/2HIMCgO
La chaîne de blocs peut-elle révolutionner le commerce international? / Emmanuelle Ganne.

WTO catalogue : http://wto.aquabrowser.com/?itemid=|WTO-Marc|1927650

Request: web.librarian@wto.org

Full text: http://bit.ly/30THOwA
Competition law / Richard Whish, David Bailey.

WTO catalogue : http://wto.aquabrowser.com/?itemid=|WTO-Marc|1927518

Request: web.librarian@wto.org

Preview: http://bit.ly/2Wy1F5d
Digital economies at global margins / edited by Mark Graham.

WTO catalogue : http://wto.aquabrowser.com/?itemid=|WTO-Marc|1927610

Request: web.librarian@wto.org

Full text: http://bit.ly/2HK2L5Q
Institutional translation for international governance : enhancing quality in multilingual legal communication / edited by Fernando Prieto Ramos.

WTO catalogue : http://wto.aquabrowser.com/?itemid=|WTO-Marc|1927516

Request: web.librarian@wto.org

Preview unavailable
Intellectual property law : text, cases, and materials / Tanya Aplin and Jennifer Davis.

WTO catalogue : http://wto.aquabrowser.com/?itemid=|WTO-Marc|1927490

Request: web.librarian@wto.org

Preview: http://bit.ly/2Qzxsxd
The interaction between competition law and corporate governance : opening the ‘black box’ / Florence Thépot.

WTO catalogue : http://wto.aquabrowser.com/?itemid=|WTO-Marc|1927543

Request: web.librarian@wto.org

Preview: http://bit.ly/2W8Gg34
Pueden las cadenas de bloques revolucionar el comercio internacional? / Emmanuelle Ganne.

WTO catalogue : http://wto.aquabrowser.com/?itemid=|WTO-Marc|1927652

Request: web.librarian@wto.org

Full text: http://bit.ly/30OIT8V
Sustaining economic growth in Asia / [edited by] Jérémie Cohen-Setton, Thomas Helbling, Adam S. Posen, Changyong Rhee.

WTO catalogue : http://wto.aquabrowser.com/?itemid=|WTO-Marc|1927555

Request: web.librarian@wto.org

Preview: http://bit.ly/2VZTrP0
Trade facilitation in the multilateral trading system : genesis, course and accord / Hao Wu.

WTO catalogue : http://wto.aquabrowser.com/?itemid=|WTO-Marc|1927531

Request: web.librarian@wto.org

Preview: http://bit.ly/2HJZuTV

 

New publications from OECD, mid February 2019

New OECD publications have been uploaded to the OECD iLibrary, a comprehensive digital repository of books, papers, and statistics from the Organisation for Economic Cooperation and Development (OECD). Titles recently added include:

These volumes and more are accessible from the OECD iLibrary by WTO staff and WTO Library patrons.

New publications from OECD, late July 2018

New OECD publications have been uploaded to the OECD iLibrary, a comprehensive digital repository of books, papers, and statistics from the Organisation for Economic Cooperation and Development (OECD). Titles recently added include:

These volumes and more are accessible from the OECD iLibrary by WTO staff and WTO Library patrons.

New publications from OECD, late June 2018

New OECD publications have been uploaded to the OECD iLibrary, a comprehensive digital repository of books, papers, and statistics from the Organisation for Economic Cooperation and Development (OECD). Titles recently added include:

These volumes and more are accessible from the OECD iLibrary by WTO staff and WTO Library patrons.

New publications from OECD, mid-March 2018

New OECD publications have been uploaded to the OECD iLibrary, a comprehensive digital repository of books, papers, and statistics from the Organisation for Economic Cooperation and Development (OECD). Titles recently added include:

These volumes and more are accessible from the OECD iLibrary by WTO staff and WTO Library patrons.

New publications from OECD, late September 2016

New OECD publications have been uploaded to the OECD iLibrary, a comprehensive digital repository of books, papers, and statistics from the Organisation for Economic Cooperation and Development (OECD). Titles recently added include:

These volumes and more are accessible from the OECD iLibrary by WTO staff and WTO Library patrons.

New publications from OECD, early June 2015

New OECD publications have been uploaded to the OECD iLibrary, a comprehensive digital repository of books, papers, and statistics from the Organisation for Economic Cooperation and Development (OECD). Titles recently added include:

These volumes and more are accessible from the OECD iLibrary by WTO staff and WTO Library patrons.

Dynamic estimation of the relationship between trade openness and output growth in Asia

This paper studies the relationship between trade openness and output growth for a sample of twenty-three Asian countries using both a static OLS and a dynamic ECM estimation models. At the country specific level, the findings of this study provide robust empirical evidence indicating that higher revealed trade openness is not the main engine explaining the Asian economic-growth miracle.

Full-text available in .pdf

Is Africa Actually Developing?

The results of previous time-series studies of the income convergence hypothesis indicate that practically no African economies are systematically closing their income gap with the rich world. This implies that almost the entire continent is not ‘developing’ in the literal sense of the term. We argue that this finding reflects the assumptions of the discrete-break unit-root tests previously employed and the sample period chosen. We re-assess the hypothesis for 43 African economies using Fourier-type unit-root tests and find that as many as 18 are currently catching-up with the US. However, most only began to do so after the mid-1990s.

Full-text available in .pdf

Domestic Market Integration and Regional Economic Growth—China’s Recent Experience from 1995–2011

This paper constructs an enhanced indicator for trade barrier and examines the endogenous relationship between market integration and regional economies across China from 1995 to 2011. Beyond the current literature, this study shows: the endogenous relationship is significant, reflecting a virtuous cycle; domestic openness contributes to the economies in the central region more than in the other regions; the feedback effect is stronger in the eastern and central regions than in the western and northeastern; domestic openness and regional economies are adversely affected by state-owned enterprises and government non-productive expenditure. Several policy implications relevant to Chinese economy are drawn from the findings.

Full-text available in .pdf

Development Aid and Growth in Transition Countries

Empirical studies normally analyze diverse and heterogeneous groups of countries, producing very mixed evidence on the effectiveness of development aid in promoting growth. We focus on whether aid promotes economic growth in transitional economies. We find that aid, on average, has had a positive impact on growth for this specific group of countries. This result is robust to samples, estimators, and the use of alternate instruments to address endogeneity. Aid effectiveness is not conditional on good policy and there is little evidence of non-linear growth effects arising from aid.

Full-text available in .pdf

Simulating economic growth effects on food and nutrition security in Yemen

This paper presents an innovative approach for estimating changes in a country’s food and nutrition security subject to economic growth and related income distribution over time. Specifically, we combine a dynamic computable general equilibrium model with household- and individual-level regression models and apply this macro–micro approach to assess the effects of Yemen’s crisis-induced economic recession in 2011/12, together with two alternative transition scenarios from 2013 to 2020.

Full-text available in .pdf

How much did China’s WTO accession increase economic growth in resource-rich countries

We provide an estimate of China’s impact on the growth rate of resource-rich countries after its WTO accession on 11 December 2001. Our empirical approach follows the logic of the differences-in-differences estimator. In addition to temporal variation arising from the WTO accession, which we argue was exogenous to other countries’ growth trajectories, we exploit spatial variation arising from differences in natural resource wealth. This allows us to compare changes in economic growth in the post-accession period relative to the pre-accession period between countries that were able to benefit from the surge in demand for industrial commodities brought about by China’s WTO accession and countries that were less able to do so. We find that roughly one tenth of average annual post-accession growth in resource-rich countries was due to China’s increased appetite for commodities. We use this finding to inform the debate about what will happen to economic growth in resource-rich countries as China rebalances and its demand for commodities weakens.

Full-text available in .pdf

Economic Development as Opportunity Equalization

Economic development should be conceived of as the degree to which an economy has implemented an efficient and just distribution of economic resources. The ubiquitous measure of GDP per capita reflects a utilitarian conception of justice, where individual utility is defined as personal income, and social welfare is the average of utilities in a population. A more attractive conception of justice is opportunity-equalization.

Full-text available in.pdf

Does Trade Liberalization Promote Regional Disparities?

Over last few decades, there has been a growing interest among researchers in understanding the link between trade liberalization and regional disparities within the context of an individual country. In this study, we develop the first ever single-country multiregional Computable General Equilibrium (CGE) model for the Indian economy to investigate this linkage. Overall our results suggest that, in the short run, trade liberalization has a beneficial impact on the rich and fast-growing middle-income states and a marginal or negative impact on the poor states.

Full-text available in .pdf

Does the internet generate economic growth, international trade, or both? / Huub Meijers

Recent cross country panel data studies find a positive impact of internet use on economic growth and a positive impact of internet use on trade. The present study challenges the first finding by showing that internet use does not explain economic growth directly in a fully specified growth model. In particular openness to international trade variables seem to be highly correlated with internet use and the findings in the literature that internet use causes trade is confirmed here suggesting that internet use impacts trade and that trade impacts economic growth. A simultaneous equations model confirms the positive and significant role of internet use to openness and the importance of openness to economic growth. Internet use shows to be more impacting trade in non-high income countries than in high income countries whereas the impact of trade on economic growth is the same for both income groups.

Full-text available in .pdf

The relationship between trade, FDI and economic growth in Tunisia: An application of the autoregressive distributed lag model / Mounir Belloumi

The relationship between foreign direct investment (FDI), trade openness and economic growth in host countries remains one of the most important issues in the economic literature and met with renewed interest in recent years mainly for countries suffering from unemployment problems and lack of technological progress. This paper examines this issue for Tunisia by applying the bounds testing (ARDL) approach to cointegration for the period from 1970 to 2008. The bounds tests suggest that the variables of interest are bound together in the long run when foreign direct investment is the dependent variable. The associated equilibrium correction is also significant, confirming the existence of a long-run relationship. The results also indicate that there is no significant Granger causality from FDI to economic growth, from economic growth to FDI, from trade to economic growth and from economic growth to trade in the short run. Even though there is a widespread belief that FDI can generate positive spillover externalities for the host country, our empirical results fail to confirm this belief for the case of Tunisia. They go against the generally accepted idea considering the positive impact of FDI on economic growth to be automatic. The results found for Tunisia can be generalized and compared to other developing countries which share a common experience in attracting FDI and trade liberalization.

Full-text available on-line and in .pdf