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Has globalization gone far enough? [electronic resource] : the costs of fragmented international markets / Scott C. Bradford, Robert Z. Lawrence.

By: Bradford, Scott C.
Contributor(s): Lawrence, Robert Z, 1949- | Institute for International Economics (U.S.).
Material type: TextTextPublisher: Washington, DC : Institute for International Economics, 2004Description: 1 online resource (xiii, 87 p.).ISBN: 9781435631434 (electronic bk.); 1435631439 (electronic bk.).Subject(s): International economic integration | Globalization -- Economic aspects | Trade blocs | Non-tariff trade barriers | Prices | Markets | Welfare economics | North America -- Economic integration | European Union countries -- Economic integration | BUSINESS & ECONOMICS -- International -- Marketing | POLITICAL SCIENCE -- International Relations -- Trade & Tariffs | BUSINESS & ECONOMICS -- International -- General | BUSINESS & ECONOMICS -- Exports & ImportsGenre/Form: Electronic books.Additional physical formats: Print version:: Has globalization gone far enough?.DDC classification: 382 Online resources: EBSCOhost Summary: Annotation Has globalization gone far enough? This study will use the underlying data from Purchasing Power Parity Surveys to estimate the potential benefits from fully integrating goods markets among major OECD countries. These data are particularly useful because they are comprehensive and every effort has been made to ensure that they are comparable. Input-output tables will be used to eliminate distribution margins from final goods prices and thereby provide estimates of ex-factory prices. Price differentials will be taken as measures of barriers, and the welfare effects of eliminating these barriers will be estimated in a general equilibrium model. The study will also provide insights into the relative openness of individual OECD countries to the world economy, and the degree to which Europe has become a single market.Summary: Annotation How important are the remaining barriers to integration in international goods markets and how would eliminating them affect global and individual countries' welfare? This book studies these questions using the most comprehensive price data available. Bradford and Lawrence find that there is considerable market fragmentation among industrial countries -- that is, firms charging different prices for similar products in different national markets -- even among countries with low tariff barriers. The authors estimate that integration among the eight countries in their sample -- Australia, Canada, Germany, Italy, Japan, the Netherlands, the United Kingdom and the United States -- would raise global GDP by more than $500 billion, or about 2 percent. Remarkably, almost half the global gain in these eight countries could be reaped if Japan alone eliminated its international fragmentation.
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Includes bibliographical references (p. 77-81) and index.

Annotation Has globalization gone far enough? This study will use the underlying data from Purchasing Power Parity Surveys to estimate the potential benefits from fully integrating goods markets among major OECD countries. These data are particularly useful because they are comprehensive and every effort has been made to ensure that they are comparable. Input-output tables will be used to eliminate distribution margins from final goods prices and thereby provide estimates of ex-factory prices. Price differentials will be taken as measures of barriers, and the welfare effects of eliminating these barriers will be estimated in a general equilibrium model. The study will also provide insights into the relative openness of individual OECD countries to the world economy, and the degree to which Europe has become a single market.

Annotation How important are the remaining barriers to integration in international goods markets and how would eliminating them affect global and individual countries' welfare? This book studies these questions using the most comprehensive price data available. Bradford and Lawrence find that there is considerable market fragmentation among industrial countries -- that is, firms charging different prices for similar products in different national markets -- even among countries with low tariff barriers. The authors estimate that integration among the eight countries in their sample -- Australia, Canada, Germany, Italy, Japan, the Netherlands, the United Kingdom and the United States -- would raise global GDP by more than $500 billion, or about 2 percent. Remarkably, almost half the global gain in these eight countries could be reaped if Japan alone eliminated its international fragmentation.

Description based on print version record.

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