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(PC) GALLAGHER - Globalization and The Nation State - Coggle Diagram
(PC) GALLAGHER - Globalization and The Nation State
Commitment to Development
Uruguay Round
Led to the creation of WTO
Had its benefits largely distributed to developed countries (Up to 70%)
Doha Round
Development
as a centerpiece. As a condition.
Millennium Development Goals
in 2000
Conclude until 2015
MDGs recognize the role of Trade for the need of differentiated treatment for development countries
Hunger, extreme poverty, child mortality, primary education, gender equality, diseases and environmental sustainability.
THE EMPIRICAL EVIDENCE OF A POSITIVE RELATIONSHIP BETWEEN TRADE AND GROWTH IS LIMITED
INSTITUTIONAL INNOVATION COUPLED WITH MACROECONOMIC AND POLITICAL STABILITY IS THE KEY TO GROWTH. THE NEED OF INCREASING PRODUCTIVITY
NEOCLASSIC THEORIES
DAVID RICARDO
- Each country should produce/export the goods for which it has
COMPARATIVE ADVANTAGE
(lower costs)
HECKSCHER-OHLIN
- perfect conditions. Each country will specialize in the activity that fits more appropriately with its production factory scenario.
Country A is K-abundant = K-intensive goods
Country B is L-abundant = L-intensive goods
STOLPER-SAMUELSON
- international trade can increase the price of products in which a country has a comparative advantage (and, therefore, the welfare)
FDI - increases employmet, human capital and technological spillovers
SPILLOVER
relates with the impact that a seemingly unrelated event happening in a part of the world can have on the economies elsewhere.
THE DEVELOPMENTAL STATE
THERE IS NOT ENOUGH EVIDENCES (perfect scenarios don't exist)