NEW ARTICLE PUBLISHED Technological Conditions and the Rise and Fall of the Rules-Based System Dan Ciuriak (C.D. Howe Institute, Canada) 2024 This paper considers the role played by the evolution of technological conditions in the rise and fall of the rules-based system. I argue that the rules-based system was in fact endogenous to the economic and technological conditions under which it came to be: when industries are competitive, companies are covering their cost of capital, workers are being paid their marginal product, everyone is making a living, no-one is getting obscenely rich, and participation in trade is a win-win proposition. This is approximately the pre-1980s world of limited economic rents, a constant labour share of national incomes and constant returns to scale, as described by the Kaldor facts. The subsequent rise of economic rents induced strategic behaviour which is incompatible with a rules-based allocation of production. Accordingly, the economic doctrines and governance systems developed for the low-rent and low-uncertainty world of the mature industrial economy are not appropriate for today’s rent-rich and highly uncertain world of strategic behaviour and need to be fundamentally reviewed on a first principles basis. #university #socialsciences #economics #market #capital #Trade #Openness #ARDL #GDPPC #Poverty #US #barriers #research #academic #academics #regulation #africa #free #Banks #Stock #Returns #Capital #Ratios #Inflation #Forecasts #Monetary #Policy #CentralBank #Money #Supply #Economic #Growth #Institutions #Development #jgtel https://lnkd.in/dc9B4rf6
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🌍 Are you a trade economist passionate about the pressing issues in South African trade and industrial policy? Lawrence Edwards and Jing Chien from PRISM (University of Cape Town) and Matthew Stern from DNA Economics have crafted a comprehensive research paper for The South Africa - UK International Economic Partnership (IEP). This extensive report offers a deep dive into South Africa's trade and industrial policy performance. 📚 Considering a PhD in Trade? Want your research to make a real impact? This report is a goldmine. It not only explores South Africa's trade dynamics over the past 30 years but also highlights emerging challenges that demand responsive trade policies and identifies crucial research gaps. For those looking to contribute to the future of South African trade policy, this paper is filled with potential research questions that need the expertise of researchers in South Africa. 🔗 Check the comments for the link to the research paper and more on the IEP.
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Interested in international trade and multilateral cooperation in a world of geoeconomic fragmentation? Check out the seminar by Bob Koopman below. #economics #trade #wto
Math nerd, Dog lover, Excited about physics and mathematical and statistical modeling of timeseries data
Interested in international trade, multilateral cooperation in a world of geoeconomic fragmentation? Check out the seminar next week. On Wednesday October 2nd at 11am PST, Bob Koopman will be presenting a seminar on the topic: Multilateral Cooperation and the WTO in a world of geo-economic fragmentation. Robert Koopman is currently Hurst Senior Professorial Lecturer at American Universities School of International Service where his research focuses on the impact of trade and trade policy on economic development and growth. Professor Koopman has an impressive resume having served as Chief Economist at the World Trade Organization and at the United States U.S. International Trade Commission I hope all my masters students attend this fascinating talk! Link to register for the seminar: https://lnkd.in/gdXDGFFn #economicdevelopment #trade #wto
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Casual language is unable to distinguish competition where there's no room for compromise (a zero-sum game) and competition that lifts everyone, whether by explicit cooperation or otherwise. In something as consequential as US-China competition we need to not give in to pat, easy answers, but instead look for where mutual gains can emerge, even with intensifying rivalry in obvious domains. Cooperation can be inadvertent, implicit, or even unintended. It is a common fallacy that cooperation requires actual agreement. Video: https://lnkd.in/gywnhHmP with Graham Allison, Keyu Jin, Lynn Kuok, Li Cheng, Robin Nisbett
US-China relations remain complex, cooperation between the two powerful nations continues to be critical to coordinate on global priorities such as #globalsecurity, #climatechange, #worldtrade, and #debt. In this World Economic Forum panel moderated by LKYSPP Dean and Li Ka Shing Professor in Economics, Professor Danny Quah discusses with a panel the anticipated developments in the US-China relationship in the second half of 2024, and beyond. Watch the full panel here: https://lnkd.in/gr5rGxU4 #lkyspp #WEF
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US-China relations remain complex, cooperation between the two powerful nations continues to be critical to coordinate on global priorities such as #globalsecurity, #climatechange, #worldtrade, and #debt. In this World Economic Forum panel moderated by LKYSPP Dean and Li Ka Shing Professor in Economics, Professor Danny Quah discusses with a panel the anticipated developments in the US-China relationship in the second half of 2024, and beyond. Watch the full panel here: https://lnkd.in/gr5rGxU4 #lkyspp #WEF
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Last week Ignacio Tornero attended the The London School of Economics and Political Science (LSE) and CAF -banco de desarrollo de América Latina y el Caribe- Conference and its session “A New Era: Latin America & The Caribean Turn to #Asia?” 🌍 The CAF-LSE Conference emphasized the need for new partnerships in the Global South to tackle issues like climate change and inequality. 🤝 South-South cooperation and alternative global alliances are vital for sustainable development in Latin America and the Caribbean. 🏗️ The rise of Asian investments in tourism, energy, and infrastructure is reshaping the region, traditionally influenced by the U.S. and Europe.
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Research Fellow, Economics and International Affairs @City University of Hong Kong • Green Energy and Technology Project Management • Global Economy & Analytics • Electric Cars and Renewable Energy
- Following my previous post on Chinese loans for development, the map below shows different Chinese foreign direct investments (FDI) in Latin America between 2006-2024. - This very interesting database was elaborated by the Núcleo Milenio sobre los Impactos de China en América Latina (ICLAC) o Millennium Nucleus on the Impacts of China in Latin America and the Caribbean. - It is an interdisciplinary group of researchers working on the political, economic, environmental, social and other aspects of Chinese relations with the region. FDI being an important dimension of the relationship. - Besides this tool, they also publish excellent policy briefs and research papers. #economics #business #china #finance #investment #latinamerica More information at: https://lnkd.in/gdNpHEYQ
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We're pleased to present a compelling report authored by Jack McCarthy, CFA, VP at Beka Credit: "Spain: An Economic Bright Spot in Europe". Discover why Spain stands out as one of the European Union's top performers in 2023, with above-average growth and favorable economic metrics. Dive into the article, which examines six key macroeconomic metrics and asks the underlying question: How competitive is Spain and is it well positioned for future growth? 🔗https://lnkd.in/dEVUmtDS #economics #macroeconomic #spain #europe #credit #BekaCredit
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Though they’re separated by more than half a century, the American Marshall Plan and China’s Belt and Road Initiative (BRI) were both responses to global crises. Fahad Nasir provides a comparative analysis of the two financial initiatives, drawing upon the differences and similarities between the two in a comprehensive manner. To read more visit: https://lnkd.in/dBP9B8n8 or click the link in bio. To submit your own work, visit https://lnkd.in/eYgVReYM #BRI #China #EconomicDevelopment #InfrastructureProjects #InternationalRelations #GlobalImpact #ForeignPolicy #InfrastructureDevelopment #EconomicRecovery #DevelopmentProjects #Economics #FinancialAid
Is China's Belt and Road Initiative (BRI) Another Marshall Plan?
https://www.paradigmshift.com.pk
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As we prepare for the ROK to host APEC - Asia-Pacific Economic Cooperation in 2025, the U.S. APEC team was pleased to welcome Peterson Institute for International Economics Senior Fellow and former ROK Trade Minister Han-koo YEO to the U.S. Department of State on July 29 for a roundtable discussion on regional economic initiatives in the Indo-Pacific. We were grateful to Han-koo Yeo for his insights on how the United States and Korea can work together to “create a sustainable and resilient future for all” through deepening and strengthening engagement on the digital economy, clean energy, and supply chains among other top priorities.
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Trading nation: How can we get Britain exporting again? 1200-1315, Thursday 3 October 2024 | Watershed, Bristol Does the UK's future economic growth rely on exports? And if it does, what can we export to boost the country’s economy? Our panel will explore the strategies and policies needed to help boost the British export market, which is increasingly service-based. Join our panel as they examine the policies that could address barriers to international trade and enhance the UK's export performance. Key discussions will cover the UK’s leading trade sectors and global contribution to research and innovation. The expert panel will consider policy and regulatory solutions to drive Britain’s export growth and strengthen our global economic position. Speakers: Lizzy Burden (Bloomberg, chair), Vince Cable (Former Secretary of State for Business and Trade) and Jun Du (Aston University) BUY TICKETS HERE:
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