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Impact of European Union Assocation Agreements on Mediterranean Countries
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ISBN: 1462349927 1452715920 1283567598 1451899327 9786613880048 Year: 1998 Publisher: Washington, D.C. : International Monetary Fund,

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By establishing free trade for industrial products in 12 years, the European Union’s Association Agreements with countries in the Mediterranean region seek to promote accelerated economic growth. This paper reviews the literature and evaluates the economic benefits and costs for Tunisia, Morocco, Lebanon, Egypt, and Jordan. It concludes that the benefits could be substantial, but only if accompanied by deep supplementary reforms, including extending trade liberalization to services and agriculture and on a multilateral basis, improving the environment for foreign direct investment, ensuring an adequate fiscal and exchange rate policy response, and strengthening European Union assistance.

Globalisation vs sovereignty? The European response
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ISBN: 0521638844 Year: 1998 Volume: 1997 Publisher: Cambridge Cambridge University press

A stream of windows : unsettling reflections on trade, immigration, and democracy
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ISBN: 0262268493 058513331X 9780262268493 9780585133317 0262024403 9780262024402 0262024403 Year: 1998 Publisher: Cambridge, Mass. : MIT Press,


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Regional Trade Agreements Versus Broad Liberalization : Which Path Leads to Faster Growth? Time-Series Evidence
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ISBN: 1462327850 1452717990 1281608270 1451893221 9786613788764 Year: 1998 Publisher: Washington, D.C. : International Monetary Fund,

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Should a closed economy open its trade to all countries or limit itself to participation in regional trade agreements (RTAs)? Based on time-series evidence for a data set for 1950-92, this paper estimates and compares the growth performance of countries that liberalized broadly and those that joined an RTA. The comparisons show that economies grew faster after broad liberalization, both in the short and long run, but slower after participation in an RTA. Economies also had higher investment shares after broad liberalization, but lower ones after joining an RTA. The policy implications support broad liberalization.


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Open Regionalism in a World of Continental Trade Blocs
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ISBN: 1462309747 145275232X 1281603910 9786613784605 1451890826 Year: 1998 Publisher: Washington, D.C. : International Monetary Fund,

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Continental trade blocs are emerging in many parts of the world almost in tandem. If trade blocs are required to satisfy the McMillan criterion of not lowering trade volume with outside countries, they have to engage in a dramatic reduction of trade barriers against non-member countries. That may not be politically feasible. On the other hand, in a world of simultaneous continental trade blocs, an open regionalism in which trade blocs undertake relatively modest external liberalization can usually produce Pareto improvement.


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Trade Liberalization in Fund-Supported Programs
Authors: --- ---
ISBN: 1462397549 1455252654 Year: 1998 Publisher: Washington, D.C. : International Monetary Fund,

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This study asseses trade liberalization in programs supported by the IMF by reviewing multiyear arrangements in the 1990s and six detailed case studies. It also discusses the main economic factors affecting trade policy targets.


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European Trade and Foreign Direct Investment U-Shaping Industrial Output in Central and Eastern Europe : Theory and Evidence
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ISBN: 1462362990 1451988419 1283564025 1451902042 9786613876478 Year: 1998 Publisher: Washington, D.C. : International Monetary Fund,

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We examine industrial output in Bulgaria, Hungary, Poland, and Romania during 1989–95 in terms of pretransitional product trade orientation. The growth of EU-oriented output within sectors of industry, ex-post trade, and market liberalization, is modeled as foreign direct investment induced Schumpeterian (vertical) waves of product innovation. The growth of non-EU-oriented output within sectors is modeled as unobservable deterministic heterogeneity. The results indicate that the gap observed in industrial output performance when comparing Eastern European to former Soviet countries is mainly explained by the inherited presence of EU-oriented production and its unconstrained growth over the transition period.


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“Globalization” and Relocation in a Vertically Differentiated Industry
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ISBN: 1462329853 1452712948 1281601748 9786613782434 1451893868 Year: 1998 Publisher: Washington, D.C. : International Monetary Fund,

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This paper uses a vertical differentiation duopoly framework to analyze firms’ relocation decisions, when the removal of trade barriers or restrictions on capital outflows or inflows (“globalization”) allows them to serve the domestic market through foreign plants in low-wage countries. The relocation of the entire industry yields net welfare costs, but the relocation of one (and only one) firm, may be welfare improving. When the economy is “high-(or low-) quality biased,” the relocation of the firm producing the high- (or low-) quality variant is preferred, on welfare terms, to that of other firms, if the wage differential is large enough.


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Agricultural Education, Science and Modern Technology's Role in Solving the Problems of Global Food Resources in the 21st Century
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Year: 1998 Publisher: Washington, D.C. : The World Bank,

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The growth of agriculture output over the past 200 years has been phenomenal. When Malthus wrote in 1798, he perceived limits on agricultural production as serious and imminent. Since then world population has increased by six-fold and global agricultural production has more than kept pace. Falling real grain prices for most of the 20th Century are cited as evidence. The sources of the increase in food production, however, have been quite different and have come in distinct waves. For most of the 19th century, increased output came from expanded land area in production. Science-based agriculture is really a post-Mendel phenomenon. In the 20th century, new technology came in different forms. First, mechanical technology, particularly the tractor, made possible cultivating more acres and freed enormous areas used for producing fuel for draft animals, for food production. Improvements in breeding and agronomy in the middle part of the century opened the possibility of substantially increasing yields per unit of land through the use of chemical fertilizers and pesticides. As we look to the 21st century, this conference is asking a critical question about the role of knowledge, science and technology in meeting future global food needs.

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