托馬斯A普格爾國(guó)際貿(mào)易英語(yǔ)chap007

1、McGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Chapter 7Growth and Trade McGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Whats the sources of long-run economic growth?Balanced versus biased growthGrowth in only one factorChanges in the country

2、s willingness to tradeEffects on the countrys term of tradeTechnology and tradeMcGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Economic growth lexpansion over time in the capabilities of an economy to produce goods and services. McGraw-Hill/Irwin 2007 The McGraw-Hill Comp

3、anies, Inc., All Rights Reserved.Whats the sources of long-run economic growth?lIncrease in countries endowments of production factorslImprovements in production technologiesMcGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Balanced versus biased growthlBalanced growth the

4、ppc shifts out proportionally so that its relative shape is the same lBiased growtheconomic growth that favors producing relatively more of one of the products, so that the relative shape of the new production possibility curves skews toward the faster- growing product.What can cause biased growth?l

5、From factorslFrom technologies McGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Figure 7.1 Balanced and Biased GrowthMcGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.How about the change of trade triangle in three figures?McGraw-Hill/Irwin 2007 T

6、he McGraw-Hill Companies, Inc., All Rights Reserved.Growth in only one factorlRybczynski theorem: (1) an increase in the output quantity of the product that uses the growing factor intensively, and (2) a decrease in the output quantity of the other product. McGraw-Hill/Irwin 2007 The McGraw-Hill Com

7、panies, Inc., All Rights Reserved.Figure 7.2 Single-Factor Growth: The Rybczynski TheoremMcGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Changes in the countrys willingness to tradelWhat happen of the size of trade triangle in figure 6.1 when the consumption of wheat decr

8、ease? lWhat happen of the size of trade triangle in figure 6.1 when the consumption of wheat increase?McGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Effects on the countrys term of tradelSmall country A country whose trade (or realistic changes in its trade) does not aff

9、ect international product price llarge country a country whose trade (or realistic changes in its trade) affects international product price McGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Small countrylIs it a small country or big country in Figure 6.1?McGraw-Hill/Irwin

10、2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Large countrylCase 1: the reduction in the countrys demand for imports. See figure 6.3How about term of trade in case 1? Improve or deteriorate?lTerm of trade improvesMcGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved

11、.Figure 7.3 Growth Biased Toward Replacing Imports in a Large CountryMcGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Large countrylCase 2: the increase in the countrys demand for imports.lGrowth in the countrys ability to produce its export goodsImmiserizing growth (figur

12、e 6.4)McGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Immiserizing growthlDefinition: national economic growth that, by expanding the countrys willingness to trade, causes such large decline in the countrys terms of trade that the country is worse for growing. lFigure 6.4

13、lCase :Dutch disease and deindustrializationlWhat conditions for immiserizing growth happen?McGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.lThree conditions for Immiserizing growth to happenThe countrys growth must be strongly biased toward expanding the countrys supply

14、of exports and the increase in export supply must be large enough to have a noticeable impact on world pricesThe foreign demand for the countrys exports must be price inelastic so that an expansion in the countrys export supply leads to a large drop in the international price of the export productBe

15、fore the growth, the country must be heavily engaged in trade so that the welfare loss from the decline the terms of trade is great enough to offset the gains from being able to produce more.McGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Figure 7.4 Immiserizing Growth in

16、 a Large CountryMcGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.exerciseAccording to the Ryb theorem, an increase in the countrys labor force will result in an increase in the quantity produced of the labor-intensive good, with no change in the quantity produced of the ot

17、her good.” do you agree or disagree? A country whose trade has almost no impact on world prices is at great risk of immiserizing growth.” do you agree or disagree? McGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.exercise If a country exhibits balanced growth, the producti

18、on possibilities curve will:lshift out on the x axis.lshift out on the y axislshift out on both axes equallylnot shift. If a countrys endowment of labor increases and cloth production is relatively more labor-intensive than corn production, then according to the Rybczynski theorem, the production po

19、ssibilities curve will shift outward along: lthe cloth axislthe corn axislboth axes.lneither axisMcGraw-Hill/Irwin 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.Technology and tradelR&DlDiffusionthe spread of technologies internationally, from the countries that invent or first use t

20、he technologies to other countries that can also use the technologies lProduct cycle A theory that there is a regular pattern to production locations and international trade patterns for a product after it is invented. The product is invented and first produced in an industrialized country, so at first these countries export the product. Over time, production shifts to other industrialized countries and then to deve