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作者：Bai, CE; Du, YJ; Tao, ZG; Tong, SY
作者单位：University of Hong Kong; University of Hong Kong; National University of Singapore
摘要：This paper uses a dynamic panel estimation method to investigate the determinants of regional specialization in China's industries, paying particular attention to local protectionism. Less geographic concentration is found in industries where the past tax-plus-profit margins and the shares of state ownership are high, reflecting stronger local government protection of these industries. The evidence also supports the scale-economies theory of regional specialization. Finally, the overall time t...
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作者：Stein, EH; Streb, JM
作者单位：Inter-American Development Bank
摘要：This paper presents a rational political budget cycle model where devaluation acts as a tax on consumption due to a cash-in-advance constraint. Competent governments can signal their competency by reducing the rate of devaluation prior to elections. When voters also ignore the degree to which governments are opportunistic, i.e. the extent to which they are willing to distort the economy for electoral gain, an incompetent, opportunistic incumbent can reduce the rate of devaluation in the run-up...
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作者：Debaere, P
作者单位：University of Texas System; University of Texas Austin
摘要：This paper addresses the empirical question whether the regional distribution of production factors within countries is ever so uneven that it triggers specialization of production that makes regions produce different sets of goods at different factor prices. Due to the different welfare effects of trade policy in a country with regional specialization, this is an important question. In addition, it is a question about the legitimacy of treating a country as a relatively homogenous unit. In an...
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作者：An, G; Iyigun, MF
作者单位：University of Colorado System; University of Colorado Boulder
摘要：We examine empirically whether countries with relatively little production and export experience specialize in the production and export of more standardized and lower-technology products, and those with more production experience produce and export more recently developed and higher-technology products. Using panel data covering 127 countries and the period between 1970 and 1997, we find that export experience does help to account for the variation in export content. Exporting experience infl...
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作者：Baier, SL; Bergstrand, JH
作者单位：University of Notre Dame; Clemson University; Federal Reserve System - USA; Federal Reserve Bank - Atlanta
摘要：The purpose of this study is to provide the first systematic empirical analysis of the economic determinants of the formation of free trade agreements (FTAs) and of the likelihood of FTAs between pairs of countries using a qualitative choice model. We develop this econometric model based upon a general equilibrium model of world trade with two factors of production, two monopolistically-competitive product markets, and explicit intercontinental and intracontinental transportation costs among m...
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作者：Bohara, AK; Gawande, K; Sanguinetti, P
作者单位：Texas A&M University System; Texas A&M University College Station; Bush School of Government & Public Service; University of New Mexico; Universidad Torcuato Di Tella
摘要：This paper empirically examines the alternative posed by Richardson [J. Intern. Econ. 34 (1993) 39] to the traditional view that trade integration may exacerbate inefficiencies. Richardson's hypothesis boldly predicts that trade diversion (and trade creation) may actually cause tariffs to decline! The hypothesis is fundamentally attributable to the presence of a political component in the governments' objective functions. A cross-sectionally rich data set on trade and tariffs from the Mercosur...
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作者：Rigobon, R
作者单位：Massachusetts Institute of Technology (MIT)
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作者：Forbes, KJ
作者单位：Massachusetts Institute of Technology (MIT)
摘要：This paper examines how the Asian and Russian crises affected different types of firms around the world. It constructs a new data set of financial statistics, industry information, geographic data, and stock returns for over 10000 companies in 46 countries. Results show that firms competing with exports from the crisis countries, or with direct sales exposure to the crisis countries, had significantly lower abnormal stock returns. Firms with higher debt ratios, however, did not experience lowe...
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作者：Ho, WM
作者单位：York University - Canada
摘要：This paper examines the effectiveness of foreign exchange intervention in a two-country, two-currency, general equilibrium model that allows for liquidity effects. Both sterilized and nonsterilized intervention operations have significant impacts on the allocation of liquidity in international financial markets. Whether intervention is successful in moving the exchange rate in the desirable direction depends upon the degree of sterilization of intervention and the intratemporal elasticity of s...
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作者：Norbäck, PJ; Persson, L
作者单位：Research Institute of Industrial Economics (IFN)
摘要：This paper determines the equilibrium market structure in an international oligopoly, where a state enterprise is sold at an auction. The paper suggests that high greenfield costs and high trade costs do not necessarily induce foreign acquisitions in privatizations, despite the fact that foreign firms would gain considerably from acquiring in such situations. The reason is that domestic firms can then prevent foreign firms from becoming strong local competitors and thus, their willingness to p...
