Czechoslovak industrial exports: structural change, re-orientation and specialization (1989 - 1992)

1996 ◽  
Vol 5 (3) ◽  
Author(s):  
Adam Slater
Keyword(s):  
Structural Change ◽  
Open Economy ◽  
Growth Rates ◽  
Rapid Growth ◽  
Transition Period ◽  
Small Open Economy ◽  
Considerable Extent ◽  
The West ◽  
Export Sector ◽  
Reorientation Process

Fostering a strong export sector is essential for the kind of small, open economy like post-communist Czechoslovakia (latterly the Czech and Slovak Republics). The CSFR export sector has to a considerable extent the defied expectations, of many of the more pessimistic commentators in regard to the expansion of exports to the West, as many industries with a previously poor record on the EC market have attained very rapid growth rates of exports to that market. Nevertheless, the evidence of section 3 points to a weakening of the reorientation process in 1992, and raises questions about the future of many of the industries which formerly exported largely to the CMEA area. Whilst the overall level of exports has been largely maintained in the transition period, export growth to the West has not allowed most of the CMEA-oriented industries to maintain their shares in total exports.

scholarly journals Foreign Capital Inflow, Technology Transfer, and National Income

2001 ◽  
Vol 40 (1) ◽  
pp. 49-56 ◽  
Author(s):  
Sarbajit Chaudhuri
Keyword(s):  
Technology Transfer ◽  
Open Economy ◽  
Foreign Capital ◽  
Full Employment ◽  
Small Open Economy ◽  
National Income ◽  
Capital Inflow ◽  
Short Paper ◽  
Export Sector ◽  
Output Ratio

According to Jones and Marjit (1992), in a two-sector, full-employment model it is not possible to show that growth in the foreign capital employed in the export sector of a small open economy will lead to a fall in the welfare in the presence of a protected import-competing sector. In this short paper, we have shown that one may get the immiserising result even in this framework if the inflow of foreign capital into the export sector is accompanied by technology transfer, which leads to a fall in the labour-output ratio in this sector.

scholarly journals Dynamic Effects of Changes in the Exchange Rate System

2016 ◽  
Vol 33 (1) ◽  
pp. 111-161 ◽  
Author(s):  
Naoyuki Yoshino ◽  
Sahoko Kaji ◽  
Tamon Asonuma
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Open Economy ◽  
Transition Period ◽  
Exchange Rate Regime ◽  
Small Open Economy ◽  
Rate System ◽  
Transition Analysis ◽  
Dynamic Stochastic ◽  
The Exchange Rate

We propose a new dynamic transition analysis on the basis of a small open economy dynamic stochastic general equilibrium model. Our proposed analysis differs from existing static and conventional dynamic analyses in that shifts from a fixed exchange rate regime to a basket peg or a floating regime are explicitly explored. We apply quantitative analysis, using data from the People's Republic of China and Thailand, and find that both economies would be better off shifting from a dollar peg to a basket peg or a floating regime over the long run. Furthermore, the longer the transition period, the greater the benefits of shifting to a basket peg regime from a dollar peg regime owing to limited volatility in interest rates. Regarding sudden shifts to a desired regime, the welfare gains are larger under a shift to a basket peg if the exchange rate fluctuates significantly.

scholarly journals Foreign Capital Inflow, Non-traded Intermediary, Urban Unemployment, and Welfare in a Small Open Economy: A Theoretical Analysis

2001 ◽  
Vol 40 (3) ◽  
pp. 225-235 ◽  
Author(s):  
Sarbajit Chaudhuri
Keyword(s):  
Theoretical Analysis ◽  
Open Economy ◽  
Foreign Capital ◽  
Small Open Economy ◽  
Capital Inflow ◽  
Export Sector ◽  
Urban Unemployment

The paper attempts to analyse the implications of foreign capital inflow in a small open economy with a non-traded intermediary on the welfare and urban unemployment in a three-sector Harris-Todaro (1970) framework. The standard immiserising result of a foreign capital inflow has been found to be valid when the non-traded intermediary is solely used in the protected import-competing sector. However, if the export sector too uses the intermediary, the economy may experience an improvement in its welfare and a reduction in the urban unemployment level.

Environmental Regulation, International Trade, and Informal Sector

2019 ◽  
pp. 80-106
Author(s):  
Tonmoy Chatterjee
Keyword(s):  
Trade Liberalization ◽  
Environmental Regulation ◽  
Informal Sector ◽  
Open Economy ◽  
Small Open Economy ◽  
Developing Nations ◽  
Export Sector ◽  
The World ◽  
Tannery Industry ◽  
National Welfare

This chapter deals with some contemporary issues related to trade and environment, which are mainly faced by the developing nations of the world. In this context, the present study has considered some facts and figures of Indian tannery industry for realization of the above-mentioned objective. In this chapter, an attempt has been made to analyze theoretically the effect of both environmental regulation and trade liberalization on the output of different sectors and also on the national welfare in a small open economy. To categorize this, the authors have presented a theoretical model based on the general equilibrium framework that mainly highlights a paradoxical result. Apart from this, the present research shows that the capital used specifically in advanced export sector is likely to affect the welfare positively, and the capital used by the rest of the economy is likely to affect the welfare adversely when usual export sector of the economy vanishes, and the opposite will occur when the pollution-intensive informal sector of the economy vanishes.

scholarly journals The Global Crisis, Trade, and the Malaysian Economy

2010 ◽  
Author(s):  
Shankaran Nambiar
Keyword(s):  
Open Economy ◽  
Manufacturing Sector ◽  
Small Open Economy ◽  
Global Crisis ◽  
Policy Makers ◽  
Export Sector ◽  
Reduced Activity

The importance of trade to the Malaysian economy cannot have been more strongly expressed than through the recent global crisis. Malaysia was vulnerable being a small open economy that has an export-dependent manufacturing sector. The very countries that generate the demand for Malaysia’s exports were struck by the crisis. As can be expected, Malaysia’s exports plummeted. The impacts of the crisis, consequently, caused reduced activity in the manufacturing sector and resulted in a sharp contraction in output. The crisis demands that policy makers take the challenge of strengthening the export sector more seriously.  

Food production and the growth of manufacturing: the case of Tanzania

2016 ◽  
Vol 43 (10) ◽  
pp. 1049-1062
Author(s):  
Richard Grabowski
Keyword(s):  
Structural Change ◽  
Open Economy ◽  
Rapid Growth ◽  
Slow Growth ◽  
Agricultural Productivity ◽  
Staple Food ◽  
Content Type ◽  
Food Productivity ◽  
Food Staples ◽  
The Impact

Purpose The purpose of this paper is to analyze the impact that slow growth in staple food productivity can have on the process of structural change and, more importantly, on the development of labor intensive industry. Design/methodology/approach A theory of a semi-open economy is developed to analyze the role of staple food productivity on structural change. A case study is used to illustrate the workings of the model. Findings Slow growth in food staple productivity will mean that even when labor is physically abundant, it will not be economically cheap. Thus it will be extremely difficult to promote the expansion of labor intensive manufacturing. The key to rapid structural change is rapid growth in food staple productivity. Practical implications Investment in raising agricultural productivity is critical in the development of labor intensive manufacturing. Social implications Rapid growth can occur without leading to structural change. The bulk of the population remains locked in the rural sector. Originality/value The food sector is shown to be largely non-tradable. As a result solving the food problem domestically is crucial for structural change and economic development. Labor intensive manufacturing needs relatively cheap labor. For labor to be cheap, agricultural productivity (food staples) must rise rapidly.

Economic development and complexity: the role of recombinant capital

2019 ◽  
Author(s):  
Anthony M Endres ◽  
David A Harper
Keyword(s):  
Economic Development ◽  
Structural Change ◽  
Open Economy ◽  
Large Scale ◽  
Manufacturing Industry ◽  
Market Failure ◽  
Small Open Economy ◽  
Capital Formation ◽  
Function Concept ◽  
Government Failure

AbstractThe neoclassical aggregate production-function concept of capital is unsuitable for the study of economic development. We provide a more realistic account of capital formation in which development is understood as a disruptive, disequilibrium process of creating (not merely allocating or accumulating) capital and in which capital is conceived as a ‘recombinant’ process. We draw upon the seminal ideas of Schumpeter, Lachmann and Hirschman to formulate the notion of recombinant capital. Capital is a complex, emergent constellation of resource connections rather than a neoclassical ‘stock’. We conceptualise recombinant capital formation as a process of transforming connections in production structures. Capital structures are the unintended outcome of polycentric interactions among private entrepreneurs and government actors (managers of state-owned enterprises and political entrepreneurs). Recombinant capital formation and capital structures emerge endogenously from the creation and destruction of complex connections. The standard distinction between ‘market failure’ and ‘government failure’ is critically deficient in analysing the structural economic dynamics engendered by recombinant capital. The fertility of our conceptual framework is illustrated by a study of major structural change in a small open economy. This structural change arose from the interpolation of a new, large-scale manufacturing industry in a capital structure previously dominated by primary industries.

Modern Norwegian Economic History

2021 ◽  
Author(s):  
Ola Honningdal Grytten
Keyword(s):  
Open Economy ◽  
Growth Rates ◽  
Economic History ◽  
Oil And Gas ◽  
Small Open Economy ◽  
National Accounts ◽  
Efficient Technology ◽  
Sovereign State ◽  
Early 19Th Century ◽  
High Productivity

Since Norway’s formation as an independent sovereign state in 1814, its small open economy has, like its neighboring countries, experienced significant economic growth. During the last several decades petroleum has made the country one of the wealthiest in the world. The main reason for the long-term growth seems to have been the ability to meet international demand by utilizing rich natural resources, adopting efficient technology, and drawing on the labor force in order to gain high productivity. Historical national accounts reveal that Norway’s wealth was close to the Western European average during the early 19th century. From the 1840s to the mid-1870s, Norwegian growth rates were clearly better than average. This period was followed by relative stagnation until the 1890s, when the country saw rapid industrialization based on hydroelectricity. After the two World Wars Norway adopted a social democratic rule, with a high degree of economic planning, called the Nordic model. This has contributed to a large public sector and evenly distributed wealth and resources. The discovery of oil and gas on the Norwegian continental shelf marked a new era, when Norway experienced higher growth rates than most Western economies. This has made it the country with the highest score in the United Nations Human Development Index (HDI) during the two first decades of the 21st century, despite a slowdown in growth after the financial crisis in 2008.

Sign in / Sign up

Export Citation Format

Share Document