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1、1本科畢業(yè)論文外文翻譯本科畢業(yè)論文外文翻譯外文題目:外文題目:Theempiricsoftradegrowth:wherearethepolicyrecommendations出處:處:InternationalEconomicsEconomicPolicy作者:者:ClauseWaldeChristinaWood原文:文:Theempiricsoftradegrowth:wherearethepolicyrecommendations
2、KlausWaldeChristinaWoodAbstractExistingliteraturerepeatedlydocumentedastrongcrelationbetweentradegrowth.Ithasalsoshownacausaleffectofimpts(thoughnotnecessarilyexpts)ongrowthinsimultaneousequationmodelsbuttoalesserextenti
3、nGrangercausalitytests.Exptimpttaxeshavesometimesbeenfoundtonegativelyaffectgrowth.Drawingpolicyconclusionsfromthesegeneralfindingsfaparticularcountryisdifficultnotonlybecauseofthecontradictyresultsbutalsobecauseofpotent
4、ialsecondbestwldeffectstheimpliedendogeneityoftradepolicy.Policyrecommendationsfaspecificcountryrequireacarefulanalysisofmarketinstitutionalarrangementscannotbebasedontheexistingcrosscountryliterature.1.IntroductionThere
5、isanongoingdebateonwhetherincreasedtradespursgrowthindustrializationwhetheritiseconomicgrowththatenablestradetoincrease.Theimplicitquestionwithrespecttodevelopingcountriesiswhetherthemajsourcesofgrowthindustrializationar
6、eexternal(i.e.learningthroughtradegenerallyexptsimptsspecifically)internal(i.e.throughhumanphysicalcapitalinvestmentincreasedresearchdevelopment).OnonesideofthedebatethephenomenalincreaseintradeexptsinEastAsiaiscitedasth
7、esourceofEastAsia’srapidindustrialization3thispaperbywkingoutthepolicyimplicationsthatcanbedrawnfromthesestudies.Aswewillshowrecommendingpurefmsoftradepolicy–freetradeimptprotectionexptpromotion–wouldbeonweakempiricalthe
8、eticalgrounds.Thereviewfindsasurprisinglackofconvincingevidencethattradeexptpoliciescanbeusedtogeneratehighergrowthrates.Interestinglypreciouslittleisknownontradepolicygrowthlinksdespitetheextensivewkundertakenontheissue
9、.Theempiricalliteraturetherefemaynotbeusedtojustifypolicypreionsoftradeliberalizationimptsubstitutionexptpromotion.Severalreasonsunderlieourfindings.Firstitisnotiouslydifficulttofindsimplesummarystatisticsthatcapturethee
10、ssenceoftariffnontariffbarriersthatarecomparableacrosscountriesovertime.Asaconsequencedirectapproachestoassesstheimplicationsoftradepolicyongrowtharerare.Secondresearchershavebeenunabletodisentangletheimpactsoftradepolic
11、yfromtheeffectsofotherpolicies(suchassoundmacroeconomicmanagement)whichtendtobeimplementedsimultaneouslywithtradepolicymeasures.Thirdmanyempiricalstudiesomittospecifytheeticalframewksonwhichtobasetheempiricalmodelingrend
12、eringtheirfindingsdifficulttointerpret.Finallyindirectanalysesoftradepolicyimplicationsongrowth(thevastmajityoftheliterature)utilizemethodologiesthathaveseriouslimitationsyieldresultsthatareambiguous(e.g.causalitybetween
13、exptsgrowthmayrunineitherdirection)arehighlysensitivetomodelspecifications.Indertoinvestigatetheextenttowhichempiricalfindingsallowunambiguouspolicyconclusionsoneneedstohaveseveraltheeticalpredictionsinmind.Sect.2willthe
14、refepresentanoverviewofrelevanttheeticalresultslinkingtradegrowth.Sect.3presentsedempiricalpapersthecrelationscausalitiestheyfind.Wefocusonfivebroadmethodologicalgroupingsthathavebeenusedintheliterature:aggregatecrosscou
15、ntryOLSregressionswithtradevariablesinstrumentalvariableregressionssimultaneousequationspaneldatamodelsGrangercausalityapproachesaggregatecrosscountryOLSregressionswithexogenouspolicyvariablesmicroeconomicstudiesoffirmle
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