lec18-eco101-10

Lec18-eco101-10 - InternationalTrade Lecture18 c ⃝ Marc-AndreasMuendler ,SanDiego December2,2010 18.EconomicIntegration:PastandPresent Econ101 c

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: InternationalTrade Lecture18 c ⃝ Marc-AndreasMuendler UniversityofCalifornia,SanDiego December2,2010 18.EconomicIntegration:PastandPresent Econ101, c ⃝ M.Muendler InternationalEconomicIntegration • Impactsofandbacklashestopriorperiodsof globalization • Fourmainaspectsofinternationaleconomicintegration – Internationaltradeingoods – Internationalmonetaryrelations – Internationalcapitalflows – Internationalmigration 18.EconomicIntegration:PastandPresent Econ101, c ⃝ M.Muendler HowGlobalAreWeByHistoricComparison? • Internationaltradeingoods:SharesoftradeinGDPhaverecovered fromthefirstglobalperiod1880-1914 • Internationalmonetarysystem:An“introspectionmeasure”ofcapital mobility(byObstfeld&Taylor2003)showsareturntotheendofthe firstglobalperiod1914 • Internationalcapitalflows:Foreigndirectinvestmentnewlyimportant • Internationalmigration:Sharesofforeign-bornpopulationsseemto exceedthelevelsoftheearly1900s,butnotinthe“NewWorld” 18.EconomicIntegration:PastandPresent Econ101, c ⃝ M.Muendler ShareofExportsinWorldGDP,1820-1992(1990prices) . 5 . 1 . 1 5 S h a r e E x p o r t s in G D P (w o r ld ) 1820 1870 1900 1913 1929 1950 1973 1992 Calendar year Source :Maddison,1995(TablesE2,F3,I4) 18.EconomicIntegration:PastandPresent Econ101, c ⃝ M.Muendler CapitalMobilityby“Introspection” Source :ObstfeldandTaylor,2003 18.EconomicIntegration:PastandPresent Econ101, c ⃝ M.Muendler Foreign-bornPopulation,PercentageofTotalPopulation Country 1870-71 1890-91 1910-11 1997 2007 Europe Germany .05 0.9 1.9 12.1 12.9 France 2.0 3.0 3.0 7.3 8.5 UnitedKingdom 0.5 0.7 0.9 7.2 10.2 Denmark 3.0 3.3 3.1 5.2 6.9 Norway 1.6 2.4 2.3 5.8 9.5 Sweden 0.3 0.5 0.9 10.8 13.4 NewWorld Australia 46.5 31.8 17.1 23.2 25.0 NewZealand 63.5 41.5 30.3 16.4 21.6 Canada 16.5 13.3 11.20 17.7 20.1 UnitedStates 14.4 14.7 14.7 10.7 13.6 Argentina 12.1 25.5 29.9 5.0 a Sources :HattonandWilliamson,2005for1870-1911( a 2000);OECDObserver,2009for1997-2007 18.EconomicIntegration:PastandPresent Econ101, c ⃝ M.Muendler WageInequalityandInternationalTrade • Twocompetingtheoriesandtheirempiricalsettlement – Heckscher-Ohlintradetheory:Wagesforthelessskilledwillfall incountriesthatarerelativelyabundantinhighskilledlabor – Directed(biased)technicalchange:Advancesininformationtech-...
View Full Document

This note was uploaded on 05/01/2011 for the course ECON 101 taught by Professor Jacobson during the Spring '03 term at UCSD.

Page1 / 20

Lec18-eco101-10 - InternationalTrade Lecture18 c ⃝ Marc-AndreasMuendler ,SanDiego December2,2010 18.EconomicIntegration:PastandPresent Econ101 c

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online