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Tomorrow's Silk Road
This CEPS book comprises a first-ever economic and regulatory analysis of a possible Free Trade Area (FTA) between China and the EU, whose design is supposed to be 'deep and comprehensive'. It provides an overview of the global economic environment in which EU-Chinese economic relations have developed in recent years, including global value chains linking the two economies. The substance of the FTA design is then elaborated in nine, largely empirical and technical chapters ranging from tariff analysis (at the 6- and 8-digit level) and technical barriers to trade, to services, government procurement and investment. A third part comprises a CGE-model-based empirical simulation of the economic effects on GDP per member state (and on China), bilateral trade in goods and services, wages for workers with three distinct skill-levels and a series of goods and services sectors. The year-long study was led by Jacques Pelkmans of CEPS, and the research was carried out by a team of trade specialists at CEPS in partnership with another team of researchers led by Prof. Joseph Francois of the World Trade Institute (WTI) in Bern.
Victims of Progress
None
Behind-the-Border Policies
Provides a contemporary overview of key issues related to non-tariff trade policy measures and domestic regulation.
Stories of Tonality in the Age of François-Joseph Fétis
Stories of Tonality in the Age of François-Joseph Fétis explores the concept of musical tonality through the writings of the Belgian musicologist François-Joseph Fétis (1784–1867), who was singularly responsible for theorizing and popularizing the term in the nineteenth century. Thomas Christensen weaves a rich story in which tonality emerges as a theoretical construct born of anxiety and alterity for Europeans during this time as they learned more about “other” musics and alternative tonal systems. Tonality became a central vortex in which French musicians thought—and argued—about a variety of musical repertoires, be they contemporary European musics of the stage, concert hall, or church, folk songs from the provinces, microtonal scale systems of Arabic and Indian music, or the medieval and Renaissance music whose notational traces were just beginning to be deciphered by scholars. Fétis’s influential writings offer insight into how tonality ingrained itself within nineteenth-century music discourse, and why it has continued to resonate with uncanny prescience throughout the musical upheavals of the twentieth and twenty-first centuries.
Institutions, Infrastructure and Trade
The authors examine the influence of infrastructure, institutional quality, colonial and geographic context, and trade preferences on the pattern of bilateral trade. They are interested in threshold effects, and so emphasize those cases where bilateral country pairs do not actually trade. The authors depart from the institutions and infrastructure literature in this respect, using selection-based gravity modeling of trade flows. They also depart from this literature by mixing principal components (to condense the institutional and infrastructure measures) with a focus on deviations in the resulting indexes from expected values for given income cohorts to control for multicollinearity. The au...
Market Structure and Market Access
The authors examine an issue at the nexus of domestic competition policy and international trade, the interaction between goods trade and market power in domestic trade and distribution sectors. Theory suggests a set of linkages between service-sector competition and goods trade supported by econometrics involving imports of 22 OECD countries compared with 69 exporters. Competition in services affects the volume of goods trade. Additionally, because of interaction between tariffs and competition, the market structure of the domestic service sector becomes increasingly important as tariffs are reduced. Empirically service competition apparently matters most for exporters in smaller, poorer countries. The results also suggest that while negotiated agreements leading to cross-border services liberalization may boost goods trade as well, they may also lead to a fall in goods trade when such liberalization involves foreign direct investment leading to increased service sector concentration.
The Princeton Encyclopedia of the World Economy. (Two volume set)
An essential reference to all facets of the world economy Increasing economic globalization has made understanding the world economy more important than ever. From trade agreements to offshore outsourcing to foreign aid, this two-volume encyclopedia explains the key elements of the world economy and provides a first step to further research for students and scholars in public policy, international studies, business, and the broader social sciences, as well as for economic policy professionals. Written by an international team of contributors, this comprehensive reference includes more than 300 up-to-date entries covering a wide range of topics in international trade, finance, production, and...
Economy-Wide Modeling of the Economic Implications of an FTA with Mexico and a NAFTA with Canada and Mexico (Summary)
This study is based on linking a 78-sector U.S. model with a 74-sector Mexican model and determines the effects of the free trade agreement (FTA) with Mexico and a NAFTA with Canada and Mexico on employment, production, prices, exports, and imports in all sectors. Charts and tables.
Preference Erosion and Multilateral Trade Liberalization
Because of concern that OECD tariff reductions will translate into worsening export performance for the least developed countries, trade preferences have proven a stumbling block to developing country support for multilateral liberalization. The authors examine the actual scope for preference erosion, including an econometric assessment of the actual utilization and the scope for erosion estimated by modeling full elimination of OECD tariffs, and hence full most-favored-nation liberalization-based preference erosion. Preferences are underutilized due to administrative burden-estimated to be at least 4 percent on average-reducing the magnitude of erosion costs significantly. For those products where preferences are used (are of value), the primary negative impact follows from erosion of EU preferences. This suggests the erosion problem is primarily bilateral rather than a WTO-based concern.
