Review of International Economics
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Exchange Rate Volatility and Exports: Regional Differences between Developing and Industrialized Countries This study uses a large panel of industrialized and developing countries to investigate the link between exchange rate volatility and exports. Although the empirical literature on this relationship is extensive, a clear consensus about its nature and importance is yet to emerge. Using fixed‐ and random‐effects models to capture cross‐country differences, pooled export equations are estimated for the entire panel and various subsets of countries. The results, which are robust across different volatility measures, indicate that negative effects exist for LDC exports, especially from Latin America and Africa, but not for exports from Asian LDCs or industrialized countries.
Review of International Economics - Tập 9 Số 1 - Trang 133-152 - 2001
Core Labor Standards and Competitiveness: Implications for Global Trade Policy One of the principal arguments for inclusion of core labor standards in the WTO is that weak labor standards provide an illegitimate boost to competitiveness and may result in a “race to the bottom” in labor standards worldwide. This paper shows that, if the violation of labor standards results from discrimination against particular workers in export industries, employment, output, and competitiveness will be reduced since employment is determined by the short side of the market. If the problems arise from abuse of market power by employers, competitiveness will be similarly reduced. Only if freedom of association and collective bargaining were intended to allow workers in some sectors to restrict output and drive up wages would the absence of these standards raise competitiveness. However, if product markets are competitive, it is likely that association rights would increase output and competitiveness by raising productivity. The competitiveness argument seems either to reflect analytical confusion or to represent a cover for protectionist interests.
Review of International Economics - Tập 9 Số 2 - Trang 317-328 - 2001
The Effects of Trade Liberalization On Cost‐Reducing Horizontal Mergers* Abstract This paper analyzes the effects of tariff reductions on horizontal mergers in a Cournot oligopoly in a two‐country world. It is shown that for mergers between two domestic firms and for cross‐border mergers which supply both markets from a foreign plant, unilateral tariff reduction encourages mergers which concentrate market power at the expense of mergers which reduce cost, while bilateral tariff reductions have the opposite effect, encouraging mergers which significantly reduce cost. Cross‐border mergers which continue to supply each market from a local plant are discouraged by both unilateral and bilateral tariff reduction.
Review of International Economics - Tập 3 Số 2 - Trang 141-155 - 1995
A Theory of International Strategic Alliance Abstract As an alternative to exporting, a firm can enter a foreign market by forging a strategic alliance with its foreign counterpart. The alliance eliminates transportation costs and duplications in product distribution networks. At the same time, strategic alliance lessens competition between the firms so that it leads to smaller outputs and higher prices. The degree of lessening of competition depends on the firms’ ability to commit to output levels. In the case where the firms can credibly commit to output levels, the alliance effectively becomes a cartel, restoring prices to the monopoly level. On the other hand, if such commitment is not credible or not possible, prices will be lower than the monopoly level but will still be higher than that if firms had exported to each other's market directly. The welfare effects of the strategic alliance are in general ambiguous.
Review of International Economics - Tập 11 Số 5 - Trang 758-769 - 2003
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