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Materiale didattico per il corso di Economia Internazionale del prof. Alireza Jay Naghavi. Trattasi di slides in lingua inglese a cura del docente, all'interno delle quali sono affrontati i seguenti argomenti: la politica commerciale nei paesi in via di sviluppo; lo sviluppo dell'industria e l'industrializzazione import-substituting;... Vedi di più

Esame di Economia internazionale docente Prof. A. Naghavi

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Problems of the Dual Economy

Most developing countries are characterized by

economic dualism.

• A high-wage, capital-intensive industrial sector

coexists with a low-wage traditional sector.

Dualism is associated with trade policy for two

reasons:

• Dualism is probably a sign of markets working poorly

(market failure case for deviating from free trade).

• The creation of the dual economy (an economy that is

characterized by economic dualism) has been helped

by import-substitution policies.

Copyright © 2003 Pearson Education, Inc. Slide 10-15

Problems of the Dual Economy

The Symptoms of Dualism

• Development often proceeds unevenly and results in a

dual economy consisting of a modern sector and a

traditional sector.

– The modern sector typically differs from the traditional

sector in that it has:

– Higher value of output per worker

– Higher wages

– Lower returns to capital

– Higher capital intensity

– Persistent unemployment (especially in urban areas)

Copyright © 2003 Pearson Education, Inc. Slide 10-16

Problems of the Dual Economy

Dual Labor Markets and Trade Policy

• The symptoms of dualism are clear signs of an

economy that is not working well, especially in its

labor markets.

• Wage differentials argument

– The wage differences between manufacturing and

agriculture is a justification for encouraging

manufacturing at agriculture’s expense.

– When there is a wage differential, the manufactures

wage (W ) must be higher than the food wage (W ).

M F

– Firms hire too few workers: use tariffs to expand sector

Copyright © 2003 Pearson Education, Inc. Slide 10-17

Problems of the Dual Economy

Figure 10-1: The Effect of a Wage Differential

Value of marginal

products, wages B

W M A

C W F

P x MPL

P x MPL M M

F F

O O

1 2

L L

M F

Labor employed

Labor employed in food

in manufactures

Total labor supply

Copyright © 2003 Pearson Education, Inc. Slide 10-18

Problems of the Dual Economy

The Harris-Todaro model

• It links rural-urban migration and unemployment that

undermines the case for favoring manufacturing

employment, even though manufacturing does offer

higher wages.

– Countries with highly dualistic economies also seem to

have a great deal of urban unemployment.

– An increase in the number of manufacturing jobs will

lead to a rural-urban migration so large that urban

unemployment actually rises.

• It helps the wage differentials argument to be in

disfavor with economists.

Copyright © 2003 Pearson Education, Inc. Slide 10-19

Export-Oriented Industrialization:

the East Asian Miracle

From the mid-1960s onward, exports of

manufactured goods, primarily to advanced nations,

was another possible path to industrialization for the

developing countries.

High performance Asian economies (HPAEs)

• A group of countries that achieved spectacular

economic growth.

– In some cases, they achieved economic growth of more

than 10% per year.

Copyright © 2003 Pearson Education, Inc. Slide 10-20

Export-Oriented Industrialization:

the East Asian Miracle

The Facts of Asian Growth

• The World Bank’s definition of HPAEs contains three

groups of countries, whose “miracle” began at different

times :

– Japan (after World War II)

– The four “tigers”: Hong Kong, Taiwan, South Korea, and

Singapore (in the 1960s)

– Malaysia, Thailand, Indonesia, and China (in the late 1970s

and the 1980s)

• The HPAEs are very open to international trade

– Example: In 1999, exports as a share of gross domestic

product in the case of both Hong Kong and Singapore

exceeded 100% of GDP (132 and 202 respectively).

Copyright © 2003 Pearson Education, Inc. Slide 10-21

Export-Oriented Industrialization:

the East Asian Miracle

Trade Policy in the HPAEs

• Some economists argue that the “East Asian miracle”

is the payoff to the relatively open trade regime.

– The data in Table 10-4 suggests that the HPAEs have

been less protectionist than other, less developing

countries, but they have by no means followed a policy

of complete free trade.

– Low rates of protection in the HPAEs helped them to

grow, but they are only a partial explanation of the

“miracle.”

Copyright © 2003 Pearson Education, Inc. Slide 10-22

Export-Oriented Industrialization:

the East Asian Miracle

Table 10-4: Average Rates of Protection, 1985 (percent)

Copyright © 2003 Pearson Education, Inc. Slide 10-23

Export-Oriented Industrialization:

the East Asian Miracle

Industrial Policy in the HPAEs

• Several of the highly successful economies have pursued

industrial policies (from tariffs to government support

for research and development) that favor particular

industries over others.

• Most economists have been skeptical about the

importance of such policies because:

– HPAEs have followed a wide variety of policies, but

achieved similarly high growth rates.

– The actual impact on industrial structure may not have

been large.

– There have been some notable failures of industrial

policy.

Copyright © 2003 Pearson Education, Inc. Slide 10-24

Export-Oriented Industrialization:

the East Asian Miracle

Other Factors in Growth

• Two factors can explain the rapid growth in East Asia:

– High saving rates

– Rapid improvement in public education

• The East Asian experience refutes that:

– Industrialization and development must be based on an

inward-looking strategy of import substitution.

– The world market is rigged against new entrants,

preventing poor countries from becoming rich.

Copyright © 2003 Pearson Education, Inc. Slide 10-25

Summary

Trade policy in less-developed countries is concerned

with two objectives: promoting industrialization and

coping with the uneven development of the domestic

economy.

Government policy to promote industrialization has

often been justified by the infant industry argument.

Many less-developed countries have pursued policies

of import-substituting industrialization.

• These policies have fostered high-cost, inefficient

production.

Copyright © 2003 Pearson Education, Inc. Slide 10-26


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DESCRIZIONE DISPENSA

Materiale didattico per il corso di Economia Internazionale del prof. Alireza Jay Naghavi. Trattasi di slides in lingua inglese a cura del docente, all'interno delle quali sono affrontati i seguenti argomenti: la politica commerciale nei paesi in via di sviluppo; lo sviluppo dell'industria e l'industrializzazione import-substituting; il protezionismo come strumento di sviluppo industriale; il peso delle esportazioni nelle economie dei paesi in via di sviluppo; il dualismo economico ed i suoi problemi; l'industrializzazione export-oriented dei paesi del sud-est asiatico; le "tigri asiatiche".


DETTAGLI
Corso di laurea: Corso di laurea in studi internazionali
SSD:
Università: Bologna - Unibo
A.A.: 2011-2012

I contenuti di questa pagina costituiscono rielaborazioni personali del Publisher Atreyu di informazioni apprese con la frequenza delle lezioni di Economia internazionale e studio autonomo di eventuali libri di riferimento in preparazione dell'esame finale o della tesi. Non devono intendersi come materiale ufficiale dell'università Bologna - Unibo o del prof Naghavi Alireza Jay.

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