On the measurement of trade-induced adjustment
Globalisation and closer regional integration have led to significant increases in trade between nations that in turn impacts on existing long-standing trade partnerships. A consequence of changing trade patterns is an increase in the pressure for resources to reallocate between industries and secto...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Springer
2003
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| Online Access: | http://psasir.upm.edu.my/id/eprint/15921/1/On%20the%20measurement%20of%20trade.pdf http://psasir.upm.edu.my/id/eprint/15921/ |
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| Summary: | Globalisation and closer regional integration have led to significant increases in trade between nations that in turn impacts on existing long-standing trade partnerships. A consequence of changing trade patterns is an increase in the pressure for resources to reallocate between industries and sectors. This paper provides an integrated approach to the analysis of trade-induced adjustment that complements the existing literature. Adjustment pressures are documented in accordance with the theoretical underpinnings of the smooth adjustment hypothesis and satisfy a number of desirable criteria, monotonicity, consistency and country specificity. The applicability of the authors' approach is examined using UK manufacturing data. |
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