Trade Liberalisation in Developing Economies: Modest Benefits but Problems with Productivity Growth, Macro Prices, and Income Distribution
Trade Liberalisation in Developing Economies: Modest Benefits but Problems with Productivity Growth, Macro Prices, and Income Distribution
复制标题
发展中经济体的贸易自由化：收益有限，但在生产率增长、宏观价格和收入分配方面存在问题
DOI：
10.1111/1468-0297.00359
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发表时间：
1998
期刊：
影响因子：
--
通讯作者：
L. Taylor
中科院分区：
文献类型：
--
作者：
J. Ocampo;L. Taylor
审查了关于发展中国家贸易和其他形式自由化的论点。从微观上看，在规模收益递增和企业可以直接投资于提高生产力的情况下，自由化的标准理由是可疑的。商业政策变化的分配效应可能是递减的，而且很大，但它们产生的“租金”可以作为根据公司业绩进行有效政策干预的基础。从宏观上看，自由化的情况取决于萨伊定律，而萨伊定律并不总是得到执行。使问题复杂化的是，最近的流动市场和资本市场的自由化与强劲的汇率和高利率相联系，而产出和生产力的增长具有积极的相互反馈，自由化很可能会抑制这种反馈。所有这些影响都只能通过国家一级的制度和历史分析加以整理，而不是通过跨国回归或可计算的一般均衡模型，这些模型已经建立了有利于贸易自由化的因果结构。
Arguments regarding trade and other forms of liberalization in developing countries are reviewed. Microeconomically, the standard case for liberalization is dubious under increasing returns to scale and when firms can invest directly in productivity enhancement. Distributional effects of commercial policy changes can be regressive and large, but the "rents" they generate can serve as a basis for effective policy intervention contingent on firms' performance. Macroeconomically, the case of liberalization rests on Say's Law, which is not always enforced. It is complicated by the facts that recent combined current and capital market liberalizations have been associated with strong exchange rates and high interest rates, and that output and productivity growth have positive mutual feedbacks which liberalization may well suppress. All these effects can only be sorted out by institutional and historical analysis at the country level, as opposed to cross-country regressions or computable general equilibrium models with causal structures favoring trade liberalization already built in.