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microbook_3e-page27 - 0.939 1.000 sources World Development...

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econ. data for 15 of the largest underdeveloped countries, 2001 country GDP per cap. at PPP Human Dev. Index Exports as % of GDP Imports as % of GDP Mexico $ 8,430 80.0 % 27.5 % 29.8 % Brazil $ 7,360 77.7 % 13.2 % 14.2 % Thailand $ 6,400 76.8 % 66.0 % 59.4 % Philippines $ 3,840 75.1 % 48.6 % 51.7 % Turkey $ 5,890 73.4 % 33.7 % 31.3 % China $ 4,020 72.1 % 25.5 % 23.1 % Iran $ 6,000 71.9 % 20.7 % 18.5 % Vietnam $ 2,070 68.8 % 54.6 % 57.0 % Indonesia $ 2,940 68.2 % 42.3 % 34.9 % Egypt $ 3,520 64.8 % 17.4 % 22.1 % India $ 2,840 59.0 % 13.5 % 14.1 % Bangladesh $ 1,610 50.2 % 15.4 % 21.5 % Pakistan $ 1,890 49.9 % 18.0 % 19.3 % Nigeria $ 850 46.3 % 43.3 % 34.4 % Ethiopia $ 810 35.9 % 15.1 % 29.8 % correlation matrix GDP per cap. at PPP Human Dev. Index Exports as % of GDP Imports as % of GDP GDP per cap. at PPP 1.000 Human Dev. Index 0.847 1.000 Exports as % of GDP 0.062 0.353 1.000 Imports as % of GDP –0.024 0.245
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Unformatted text preview: 0.939 1.000 sources: World Development Indicators (2005); Human Development Report (2003) Trading Up x Of the countries in the table above, the ones which have the highest levels of human development, are generally the ones that engage in more international trade. x the Human Development Index is positively correlated with: o a country’s share of exports in GDP o a country’s share of imports in GDP x the correlations are not perfect, but they are significant moral of the story x Countries gain from trade , x if they specialize in producing the goods x in which they have a comparative advantage , x although there may be distributional effects to consider: o workers who are not working in the sector where the country has a comparative advantage will be adversely affected by free trade o ex. in America steel workers, textile workers and farmers are adversely affected by trade Page 27...
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