| Has Globalization Gone Far Enough?: The Costs of Fragmented Markets Contributor(s): Bradford, Scott (Author), Lawrence, Robert (Author) |
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ISBN: 0881323497 ISBN-13: 9780881323498 Publisher: Peterson Institute for International Economic OUR PRICE: $24.75 Product Type: Paperback - Other Formats Published: February 2004 Annotation: How important are the remaining barriers to integration in international goods markets and how would eliminating them affect global and individual countries' welfare? This book studies these questions using the most comprehensive price data available. Bradford and Lawrence find that there is considerable market fragmentation among industrial countries -- that is, firms charging different prices for similar products in different national markets -- even among countries with low tariff barriers. The authors estimate that integration among the eight countries in their sample -- Australia, Canada, Germany, Italy, Japan, the Netherlands, the United Kingdom and the United States -- would raise global GDP by more than $500 billion, or about 2 percent. Remarkably, almost half the global gain in these eight countries could be reaped if Japan alone eliminated its international fragmentation. |
| Additional Information |
| BISAC Categories: - Business & Economics | International - Economics - Political Science | Globalization - Political Science | International Relations - Trade & Tariffs |
| Dewey: 382 |
| LCCN: 2003062083 |
| Physical Information: 0.23" H x 6.08" W x 9" (0.37 lbs) 112 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: Scott C. Bradford and Robert Z. Lawrence use the underlying data from purchasing power parity surveys to estimate the potential benefits from fully integrating goods markets among major OECD countries. These data are particularly useful because they are comprehensive, and every effort has been made to ensure that they are comparable. Input-output tables are used to eliminate distribution margins from final goods prices and thereby provide estimates of ex-factory prices. Price differentials have been taken as measures of barriers, and the welfare effects of eliminating these barriers have been estimated in a general equilibrium model. The study also provides insights into the relative openness of individual OECD countries to the world economy and the degree to which Europe has become a single market. |