Element contents
Virtual Trade in a Changing World
Comparative Advantage, Growth and Inequality
Published online by Cambridge University Press: 14 August 2023
Summary
Virtual economic transactions have radically transformed the way we think about trade and markets in closed and open economies. Continuous decline in costs of information and communications and setting up of phenomenally large number of virtual platforms have brought in 'Time' as an essential element in the discourse on international trade. This work delves deep into the issue of how Time enters as a major catalyst of international trade and virtual transactions. This changes the way we look at ideas of comparative advantage, factor mobility, growth, income distribution, and allied concepts. A key result is that greater physical distance might encourage trade contrary to what we are accustomed to accept.
Keywords
Information
- Type
- Element
- Information
- Online ISBN: 9781009105743Publisher: Cambridge University PressPrint publication: 28 September 2023
References
Acemoglu, D. (2009). Introduction to Modern Economic Growth. Princeton, NJ: Princeton University Press.Google Scholar
Acemoglu, D., and Azar, P. D. (2020). Endogenous production networks. Econometrica, 88(1), 33–82.Google Scholar
Acemoglu, D., Ozdaglar, A. E., and Tahbaz-Salehi, A. (2010). Cascades in Networks and Aggregate Volatility. NBER Working Paper w1516. Cambridge, MA: National Burea of Economic Research. https://ssrn.com/abstract=1703309.Google Scholar
Acemoglu, D., and Ventura, J. (2002). The world income distribution. Quarterly Journal of Economics, 117(2), 659–694.Google Scholar
Acharyya, R., and Kar, S. (2013). International Trade and Economic Development. Oxford: Oxford University Press.Google Scholar
Acharyya, R., and Marjit, S., eds. (2014). Trade, Globalization and Development: Essays in Honour of Kalyan K. Sanyal. New Delhi: Springer India.CrossRefGoogle Scholar
Aghion, P., Antonin, C., and Bunel, S. (2021). The Power of Creative Destruction: Economic Upheaval and the Wealth of Nations. Cambridge, MA: Harvard University Press.Google Scholar
Aghion, P., and Durlauf, S. N. (2005). Handbook of Economic Growth, vols. I and II. Amsterdam: Elsevier.Google Scholar
Aghion, P., and Howitt, P. W. (2008). The Economics of Growth. Cambridge, MA: MIT Press.Google Scholar
Alesina, A., Spolaore, E., and Wacziarg, R. (2005). Trade, growth and the size of countries. In Aghion, P. and Durlauf, S. N., eds., Handbook of Economic Growth, vol. 1B, 1499–1542. Amsterdam: Elsevier.Google Scholar
Anderson, E. (2000). Why do nations trade (so little)? Pacific Economic Review, 5(2), 115–134.Google Scholar
Anderson, E. (2014). Time differences, communication and trade: Longitude matters II. Review of World Economics, 150(2), 337–369.Google Scholar
Anderson, J. E., and van Wincoop, E. (2004). Trade costs. Journal of Economic Literature, 42(3), 691–751.CrossRefGoogle Scholar
Antràs, P. (2003). Firms, contracts and trade structure. Quarterly Journal of Economics, 118(4), 1375–1418.CrossRefGoogle Scholar
Antràs, P., Chor, D., Fally, T., and Hillberry, R. (2012). Measuring the upstreamness of production and trade flows. American Economic Review, 102(3), 412–416.CrossRefGoogle Scholar
Antràs, P., and Gortari, A. D. (2020). On the geography of global value chains. Econometrica, 88(4), 1553–1598.Google Scholar
Antràs, P., and Helpman, E. (2004). Global sourcing. Journal of Political Economy, 112(3), 552–580.Google Scholar
Autor, D., Katz, L. F., and Krueger, A. B. (1998). Computing inequality: Have computers changed the labor market? Quarterly Journal of Economics, 113(4), 1169–1213.Google Scholar
Bahar, D. (2020). The hardships of long-distance relationships: Time zone proximity and the location of MNC’s knowledge-intensive activities. Journal of International Economics, 125, 103311.Google Scholar
Baldwin, R. (2016). The Great Convergence. Cambridge, MA: Harvard University Press.CrossRefGoogle Scholar
Baldwin, R., and Dingel, J. I. (2021). Telemigration and Development: On the Offshorability of Teleworkable Jobs. NBER Working Paper No. 29387. Cambridge, MA: National Bureau of Economic Research.Google Scholar
Bardhan, P. (2003). Essays in International Trade, Growth and Development. Oxford: Basil Blackwell.Google Scholar
Barro, R. J., and Sala-i-Martin, X. (1995). Economic Growth. New York: McGraw-Hill International Edition.Google Scholar
Becker, G. S. (1965). A theory of the allocation of time. Economic Journal, 75(299), 493–517.Google Scholar
Beladi, H., Jones, R. W., and Marjit, S. (1997). Technology for sale. Pacific Economic Review, 2(3), 187–196.Google Scholar
Beladi, H., Marjit, S., and Weiher, K. (2011). An analysis of the demand for skill in a growing economy. Economic Modelling, 28(4), 1471–1474.Google Scholar
Berman, E., Bound, J., and Machin, S. (1998). Implications of skill-biased technological change: International evidence. Quarterly Journal of Economics, CXIII(4), 1245–1279.CrossRefGoogle Scholar
Bernard, A. B., Eaton, J., Jensen, J. B., and Kortum, S. (2003). Plants and productivity in international trade. American Economic Review, 93(4), 1268–1290.Google Scholar
Bernard, A. B., Jensen, J. B., and Schott, P. K. (2006). Trade costs, firms and productivity. Journal of Monetary Economics, 53(5), 917–937.Google Scholar
Bhagwati, J., and Dehejia, V. H. (1994). Freer trade and wages of the unskilled: Is Marx striking again? In Bhagwati, J. and Kosters, M. H., eds., Trade and Wages: Leveling Wages Down? 37–75. Washington, DC: AEI Press.Google Scholar
Blum, B. S. (2008). Trade, technology, and the rise of the service sector: The effects on US wage inequality. Journal of International Economics, 74, 441–458.Google Scholar
Bonadio, B., Huo, Z., Levchenko, A. A., and Pandalai-Nayar, N. (2021). Global supply chains in the pandemic. Journal of International Economics, 133, 103534.Google Scholar
Borchert, I., and Yotov, Y. V. (2017). Distance, globalization and international trade. Economics Letters, 153(C), 32–38.Google Scholar
Brander, J., and Krugman, P. (1983). A “reciprocal dumping” model of international trade. Journal of International Economics, 15(3–4), 313–321.CrossRefGoogle Scholar
Brynjolfsson, E., and McAfee, A. (2014). The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies. New York: W. W. Norton and Company.Google Scholar
Bucchholz, T. G. (2007). New Ideas from Dead Economists: An Introduction to Modern Economic Thought. New York: Penguin.Google Scholar
Buera, F. J., and Lucas, R. E. (2018). Idea flows and economic growth. Annual Review of Economics, 10(1), 315–345.CrossRefGoogle Scholar
Buera, F. J., and Oberfield, E. (2020). The global diffusion of ideas. Econometrica, 88(1), 83–114.CrossRefGoogle Scholar
Cassing, J. H. (1978). Transport costs in international trade theory: A comparison with the analysis of non-traded goods. Quarterly Journal of Economics, 92(4), 535–550.Google Scholar
Catão, L., and Obstfeld, M. (2019). Meeting Globalization’s Challenges: Policies to Make Trade Work for All. Princeton, NJ: Princeton University Press.Google Scholar
Caves, R. E., Frankel, J. A., and Jones, R. W. (2007). World Trade and Payments: An Introduction, 6th ed. New York: Harper Collins.Google Scholar
Chakrabarti, A. (2004). Asymmetric adjustment costs in simple general equilibrium models. European Economic Review, 48, 63–73.CrossRefGoogle Scholar
Chaney, T. (2011). The Network Structure of International Trade. NBER Working Paper 16753. Cambridge, MA: National Bureau of Economic Research.Google Scholar
Choi, E. K., and Choi, J. Y. (2013). Financial advantage, outsourcing and FDI under wage uncertainty. North American Journal of Economics and Finance, 24, 260–267.Google Scholar
Chusseau, N., Dumont, M., and Hellier, J. (2008). Explaining rising inequality: Skill-biased technical change and north–south trade. Journal of Economic Surveys, 22(3), 409–457.CrossRefGoogle Scholar
Coe, D. T., and Helpman, E. (1995). International R&D spillovers. uropean Economic Review, 39, 859–887.Google Scholar
Coe, D. T., Helpman, E., and Hoffmaister, A. W. (1997). North–South R&D spillovers. Economic Journal, 107, 134–149.CrossRefGoogle Scholar
Crafts, N. F. R. (1973). Trade as a handmaiden of growth: An alternative view. Economic Journal, 83(331), 875–884.Google Scholar
Cravino, J., and Sotelo, S. (2019). Trade-induced structural change and the skill premium. American Economic Journal: Macroeconomics, 11(3), 289–326.Google Scholar
Das, G. G. (2002). Trade, technology and human capital: Stylized facts and quantitative evidence. World Economy, 25(2), 257–281.CrossRefGoogle Scholar
Das, G. G. (2007). Who leads and who lags? Technology diffusion, e-commerce and trade facilitation in a model of Northern hub vis-à-vis Southern spokes. Journal of Economic Integration, 22(4), 929–972.Google Scholar
Das, G. G. (2015). Why some countries are slow in acquiring new technologies? A model of trade-led diffusion and absorption. Journal of Policy Modeling, 37(1), 65–91.Google Scholar
Das, G. G., and Drine, I. (2020). Distance from the technology frontier: How could Africa catch-up via socio-institutional factors and human capital? Technological Forecasting and Social Change, 150(C), 119755.CrossRefGoogle Scholar
Das, G. G., and Han, H. (2013). Trade in middle products between South Korea and China: A survey on the extent of offshore production-sharing. In Bardhan, A., Jaffee, D. M. and Kroll, C. A., eds., The Oxford Handbook of Offshoring and Global Employment, 276–310. Oxford: Oxford University Press.Google Scholar
Davis, D. (1998). Technology, unemployment and relative wages in a global economy. European Economic Review, 42(9), 1613–1633.CrossRefGoogle Scholar
Deardorff, A. V. (2003). Time and trade: The role of time in determining the structure and effects of international trade, with an application to Japan. In Stern, R. M., ed., Japan’s Economic Recovery, 63–76. Cheltenham: Edward Elgar.CrossRefGoogle Scholar
Deardorff, A. V. (2004). Local Comparative Advantage: Trade Costs and the Pattern of Trade. DP No. 500, University of Michigan. https://EconPapers.repec.org/RePEc:mie:wpaper:500.Google Scholar
Dettmer, B. (2014). International service transactions: Is time a trade barrier in a connected world? International Economic Journal, 28(2), 225–254.Google Scholar
Dixit, A. K., and Grossman, G. M. (1982). Trade and protection with multistage production. Review of Economic Studies, 49, 583–94.Google Scholar
Dixit, A. K., and Stiglitz, J. E. (1977). Monopolistic competition and optimum product diversity. American Economic Review, 67, 297–308.Google Scholar
Do, V., and Long, N. V. (2008). International outsourcing under monopolistic competition: Winners and losers. In Marjit, S. and Yu, E. S. H., eds., Contemporary and Emerging Issues in Trade Theory and Policy, 345–366. Bingley: Emerald Group.Google Scholar
Dollar, D. (1992). Outward-oriented developing economies really do grow more rapidly: Evidence from 95 LDCs, 1976–1985. Economic Development and Cultural Change, 40(3), 523–544.Google Scholar
Dorn, F., F., Clemens, P., and Niklas (2021). Trade Openness and Income Inequality: New Empirical Evidence. CESifo Working Paper 9203. http://dx.doi.org/10.2139/ssrn.3892627.Google Scholar
Dornbusch, R., Fischer, S., and Samuelson, P. A. (1977). Comparative advantage, trade, and payments in a Ricardian model with a continuum of goods. American Economic Review, 67(5), 823–839.Google Scholar
Dreher, A., and Gaston, N. (2008). Has globalization increased inequality? Review of International Economics, 16(3), 516–536.CrossRefGoogle Scholar
Duernecker, G., Meyer, M., Vega-Redondo, F. (2021). Trade Openness and Growth: A Network- Based Approach. CESifo Working Paper 9319.Google Scholar
Eaton, J., and Kortum, S. (1999). International technology diffusion: Theory and measurement. International Economic Review, 40(3), 537–570.CrossRefGoogle Scholar
Eaton, J., and Kortum, S. (2012). Putting Ricardo to work. Journal of Economic Perspectives, 26(2), 65–90.Google Scholar
Eels, F. R. (1956). The economics of shift working. Journal of Industrial Economics, 5, 51–62.Google Scholar
Egger, P. H., and Larch, M. (2013). Time zone differences as trade barriers. Economics Letters, 119, 172–175.Google Scholar
Falvey, R. E. (1976). Transport costs in the pure theory of international trade. Economic Journal, 86(343), 536–550.Google Scholar
Feenstra, R. (1998). Integration of trade and disintegration of production in the global economy. Journal of Economic Perspectives, 12(4), 31–50.CrossRefGoogle Scholar
Feenstra, R. (2004). Advanced International Trade: Theory and Evidence. Princeton, NJ: Princeton University Press.Google Scholar
Feenstra, R. (2010). Offshoring in the Global Economy: Microeconomic Structure and Macroeconomic Implications. Cambridge, MA: MIT Press.Google Scholar
Feenstra, R. C., and Hanson, G. H. (1996). Globalization, Outsourcing and Wage Inequality. NBER Working Paper 5424. Cambridge, MA: National Bureau of Economic Research.Google Scholar
Feenstra, R., and Taylor, A. (2021). International Economics, 4th ed. New York: Worth Publishers.Google Scholar
Findlay, R. (1974). Relative prices, growth and trade in a simple Ricardian system. Economica, 41(161), 1–13.Google Scholar
Findlay, R. (1978). An “Austrian” model of international trade and interest rate equalization. Journal of Political Economy, 86, 989–1007.CrossRefGoogle Scholar
Findlay, R. (1984). Growth and development in trade models. In Jones, R. W. and Kenen, P. B., eds., Handbook of International Economics, vol. 1, 185–236. Amsterdam: Elsevier.Google Scholar
Findlay, R. (1995). Infrastructure, human capital and international trade. Swiss Journal of Economics and Statistics (SJES), 131(III), 289–301.Google Scholar
Frankel, J. A. (1997). Regional Trading Blocs in the World Trading System. Washington, DC: Institute of International Economics.Google Scholar
Frankel, J. A., and Romer, D. H. (1999). Does trade cause growth? American Economic Review, 89(3), 379–399.Google Scholar
Furusawa, T., Konishi, H., and Anh Tran, D. L. (2019). International trade and income inequality. Scandinavian Journal of Economics, 122(3), 993–1026.Google Scholar
Goldberg, P. K., Khandelwal, A. K., Pavcnik, N., and Topalova, P. (2010a). Imported intermediate inputs and domestic product growth: Evidence from India. Quarterly Journal of Economics, 125(4), 1727–1767.Google Scholar
Goldberg, P. K., Khandelwal, A. K., Pavcnik, N., and Topalova, P. (2010b). Multiproduct firms and product turnover in the developing world: Evidence from India. Review of Economics and Statistics, 92(4), 1042–1049.Google Scholar
Grossman, G. M., and Helpman, E. (1990). Trade, innovation, and growth.American Economic Review, 80(2), 86–91.Google Scholar
Grossman, G. M., and Helpman, E. (1991a). Trade, knowledge spillovers, and growth. European Economic Review, 35(2–3), 517–526.Google Scholar
Grossman, G. M., and Helpman, E. (1991b). Innovation and Growth in the Global Economy. Cambridge, MA: MIT Press.Google Scholar
Grossman, G. M., McCalman, P., and Staiger, R. W. (2021). The “new” economics of trade agreements: From trade liberalization to regulatory convergence? Econometrica, 89(1), 215–249.Google Scholar
Grossman, G. M., and Rogoff, K. (2005). Handbook of International Economics, vol. 3. Amsterdam: North-Holland.Google Scholar
Grossman, G. M., and Rossi-Hansberg, E. (2008). Trade in tasks: A simple theory of offshoring. American Economic Review, 98, 1978–1997.Google Scholar
Hanson, G. H. (2012). The rise of middle kingdoms: Emerging economies in global trade. Journal of Economic Perspectives, 26(2), 41–64.Google Scholar
Harrigan, J., and Venables, A. J. (2006). Timeliness and agglomeration. Journal of Urban Economics, 59, 300–316.Google Scholar
Harris, R. G. (1998). The Internet as a GPT: Factor market implications. In Helpman, E., ed., General Purpose Technologies and Economic Growth, 145–166. Cambridge, MA: MIT Press.Google Scholar
Haskel, J., Lawrence, R. Z., Leamer, E. E., and Slaughter, M. J. (2012). Globalization and U.S. wages: Modifying classic theory to explain recent facts. Journal of Economic Perspectives, 26(2), 119–140.Google Scholar
Hattari, R., and Rajan, R. S. (2008). Sources of FDI Flows to Developing Asia: The Roles of Distance and Time Zones. ADBI Working Paper 117. Tokyo: Asian Development Bank Institute.Google Scholar
Head, K., and Mayer, T. (2014). Gravity equations: Workhorse, toolkit, and cookbook. In Gopinath, G., Helpman, E. and Rogogg, K., eds., Handbook of International Economics, vol. 4, 131–195. Amsterdam: Elsevier.Google Scholar
Head, K., Mayer, T., and Ries, J. (2009). How remote is the offshoring threat? European Economic Review, 53, 429–444.CrossRefGoogle Scholar
Heckscher, E. (1919). The effect of foreign trade on the distribution of income. Ekonomisk Tidskrift, 21, 497–512. Reprinted as chapter 13 in American Economic Association (1949). Readings in the Theory of International Trade, 272–300. Homewood, IL: Richard D. Irwin.Google Scholar
Helpman, E. (1981). International trade in the presence of product differentiation, economies of scale and monopolistic competition: A Chamberlin-Heckscher-Ohlin approach. Journal of International Economics, 11(3), 305–340.Google Scholar
Helpman, E. (2004). The Mystery of Economic Growth. Cambridge, MA: Harvard University Press.Google Scholar
Helpman, E. (2011). Understanding Global Trade. Cambridge, MA: Harvard University Press.Google Scholar
Helpman, E., Itskhoki, O., Muendler, M., and Redding, S. (2012). Trade and Inequality: From Theory to Estimation. NBER Working Paper 17991. Cambridge, MA: National Bureau of Economic Research.Google Scholar
Helpman, E., and Krugman, P. (1987). Market Structure and Foreign Trade: Increasing Returns, Imperfect Competition and the International Economy. Cambridge, MA: MIT Press.Google Scholar
Hicks, J. (1973). Capital and Time: A Neo-Austrian Theory. London: Oxford Calendar Press.Google Scholar
Hidalgo, C. (2015). Why Information Grows: The Evolution of Order, from Atoms to Economies. New York: Basic Books.Google Scholar
Hummels, D. L., and Schaur, G. (2013). Time as a trade barrier. American Economic Review, 103(7), 2935–2959.Google Scholar
Iacovone, L., Rauch, F., and Winters, L. A. (2013). Trade as an engine of creative destruction: Mexican experience with Chinese competition. Journal of International Economics, 89(2), 379–392.Google Scholar
Irwin, D. (1996). Against the Tide: An Intellectual History of Free Trade. Princeton, NJ: Princeton University Press.CrossRefGoogle Scholar
Jones, C. I. (2016). The facts of economic growth. In Taylor, J. B. and Uhlig, H., eds., Handbook of Macroeconomics, vol. 2A, 3–69. Amsterdam: Elsevier.Google Scholar
Jones, R. W. (1965). The structure of simple general equilibrium models. Journal of Political Economy, 73(6), 557–572.Google Scholar
Jones, R. W. (1971). A three-factor model in theory, trade and history. In Bhagwati, J., Jones, R. W., Mundell, R. A. and Vanek, J., eds., Trade, Balance of Payments and Growth, 3–21. Amsterdam: North-Holland.Google Scholar
Jones, R. W. (2000). Globalization and the Theory of Input Trade. Cambridge, MA: MIT Press.Google Scholar
Jones, R. W. (2018). International Trade Theory and Competitive Models. Singapore: World Scientific Publishers.Google Scholar
Jones, R. W., Beladi, H., and Marjit, S. (1999). The three faces of factor intensities. Journal of Economics, 48(2), 413–420.Google Scholar
Jones, R. W., and Kierzkowski, H. (1990). The role of services in production and international trade: A theoretical framework. In Jones, R. W. and Krueger, A., eds., The Political Economy of International Trade, 31–48. Oxford: Blackwell.Google Scholar
Jones, R. W., and Kierzkowski, H. (2001) A framework for fragmentation. In Arndt, S. W. and Kierzkowski, H., eds., Fragmentation: New Production Patterns in the World Economy, 17–34. Oxford: Oxford University Press.Google Scholar
Jones, R. W., and Marjit, S. (2001). The role of international fragmentation in the development process. American Economic Review, 91, 363–366.CrossRefGoogle Scholar
Jones, R. W., and Marjit, S. (1995). Labor-market aspects of enclave-led growth. Canadian Journal of Economics, 28, Special Issue.Google Scholar
Jones, R. W., and Marjit, S. (2003). Economic development, trade and wages. German Economic Review, 4(1), 1–17.Google Scholar
Keller, W. (2000). Do trade patterns and technology flows affect productivity growth? World Bank Economic Review, 14(1), 17–47.Google Scholar
Keller, W. (2004). International technology diffusion. Journal of Economic Literature, 42, 752–782.Google Scholar
Kemp, M. C., and Shimomura, K. (1999). Trade gains in chaotic equilibria. In Choi, E. K. and Jensen, B. S., eds., Economic Growth and International Trade, 45–51. Oxford: Blackwell.Google Scholar
Kikuchi, T. (2006). Time zones, outsourcing and patterns of international trade. Economics Bulletin, 6(15), 1–10.Google Scholar
Kikuchi, T. (2011). Time Zones, Communications Networks and International Trade. Routledge Studies in the Modern World Economy. Abingdon: Routledge.CrossRefGoogle Scholar
Kikuchi, T., and Iwasa, K. (2008). A Simple Model of Service Trade with Time Zone Differences. MPRA Paper 9574. University Library of Munich: Munich Personal RePEc Archive.Google Scholar
Kikuchi, T., and Long, N. V. (2011). Shift working and trade in labor services with time zone differences. CESifo Working Paper 3542, Category 8: Trade Policy. http://dx.doi.org/10.2139/ssrn.1915930.Google Scholar
Kikuchi, T., and Marjit, S. (2010). Time zones and periodic intra-industry trade. EERI Research Paper Series No. 08/2010. Brussels: Economics and Econometrics Research Institute.Google Scholar
Kikuchi, T., and Marjit, S. (2011). Growth with time zone differences. Economic Modelling, 28, 637–640.Google Scholar
Kikuchi, T., Marjit, S., and Mandal, B. (2013). Trade with time zone differences: Factor market implications. Review of Development Economics, 17(4), 699–711.Google Scholar
Kohler, W. (2004a). International outsourcing and factor prices with multistage production. Economic Journal, 114, C166–C185.Google Scholar
Kohler, W. (2004b). Aspects of international fragmentation.Review of International Economics, 12, 793–816.Google Scholar
Kosters, M. H. (1994). An overview of changing wage patterns in the labor market. In Bhagwati, J. and Kosters, M. H., eds., Trade and Wages: Leveling Wages Down? 1–35. Washington, DC: AEI Press.Google Scholar
Kostiuk, P. F. (1990). Compensating differentials for shift work. Journal of Political Economy, 98, 1054–1075.Google Scholar
Kravis, I. (1970). Trade as a handmaiden of growth: Similarities between the nineteenth and twentieth centuries. Economic Journal, 80(320), 850–872.Google Scholar
Krugman, P. R. (1979). Increasing returns, monopolistic competition, and international trade. Journal of International Economics, 9(4), 469–479.Google Scholar
Krugman, P. R. (1980). Scale economies, product differentiation, and the pattern of trade. American Economic Review, 70(5), 950–959.Google Scholar
Krugman, P. R. (1983). New theories of trade among industrial countries. American Economic Review, 73(2), 343–347.Google Scholar
Krugman, P. R. (2008). Trade and wages: Reconsidered. Brookings Papers on Economic Activity, Spring, 103–154.Google Scholar
Krugman, P., and Lawrence, R. Z. (1994). Trade, jobs and wages. Scientific American, 270(4), 44–49.Google Scholar
Krugman, P. R., Obstfeld, M., and Melitz, M. J. (2018). International Economics: Theory and Policy, 11th ed. Global Edition. Harlow, UK: Pearson.Google Scholar
Kurokawa, Y. (2012). A survey of trade and wage inequality: Anomalies, resolutions and new trends. Journal of Economic Surveys, 18(1), 169–193.Google Scholar
Lanfranchi, J., Ohlsson, H., and Skalli, A. (2002). Compensating wage differentials and shift work preferences. Economics Letters, 74, 393–398.Google Scholar
Limao, N., and Venables, A. (2001). Infrastructure, geographical disadvantage, transports costs and trade. World Bank Economic Review, 15(3), 451–479.Google Scholar
Long, N. V., Riezman, R., and Soubeyran, A. (2005). Fragmentation and services. North American Journal of Economics and Finance, 16, 137–152.Google Scholar
Lucas, R. E. (1988). On the mechanics of economic development. Journal of Monetary Economics, 22(1), 3–42.Google Scholar
Lucas, R. E. (1995). Understanding business cycles. In Estrin, S. and Marin, A., eds., Essential Readings in Economics, 306–327. Houndmills, UK: Macmillan.Google Scholar
Lucas, R. E. (2002). Lectures on Economic Growth. Cambridge, MA: Harvard University Press.Google Scholar
Lucas, R. E. (2009b). Trade and the diffusion of industrial revolution. American Economic Journal: Macroeconomics, 1, 1–25.Google Scholar
Lucas, R. E., and Moll, B. (2014). Knowledge growth and the allocation of time. Journal of Political Economy, 122, 1–51.Google Scholar
Malgouyres, C., Mayer, T., and Mazet-Sonilhac, C. (2021). Technology-induced trade shocks? Evidence from broadband expansion in France. Journal of International Economics, 133(C), 103520.CrossRefGoogle Scholar
Mandal, B. (2015). Distance, production, virtual trade and growth. Economics – The Open-Access, Open-Assessment E-Journal, 9(1), 1–12.Google Scholar
Mandal, B., Marjit, S., and Nakanishi, N. (2015). Outsourcing, Factor Prices and Skill Formation in Countries with Non-overlapping Time Zones. MPRA Paper 68227. University Library of Munich: Munich Personal RePEc Archive.Google Scholar
Marjit, S. (1987). Trade in intermediates and the colonial pattern of trade. Economica, 54, 173–184.Google Scholar
Marjit, S. (2007). Trade theory and the role of time zones. International Review of Economics and Finance, 16, 153–160.Google Scholar
Marjit, S. (2008). International Trade and Economic Development: Essays in Theory and Policy. New Delhi: Oxford University Press.Google Scholar
Marjit, S., and Acharyya, R. (2006). Trade liberalization, skill-linked intermediate and two-sided wage gap. Journal of Policy Reform, 9(3), 203–217.Google Scholar
Marjit, S., and Das, G. G. (2021). Contact-Intensity, Collapsing Entertainment Sector and Wage Inequality: A Finite Change Model of COVID-19 Impact. CESifo Working Paper 9311. http://dx.doi.org/10.2139/ssrn.3932019.Google Scholar
Marjit, S., and Kar, S. (2009). A contemporary perspective on the informal labour market: Theory, policy and the Indian experience. Economic and Political Weekly, 44(14), 60–71.Google Scholar
Marjit, S., and Kar, S. (2013). International capital flow, vanishing industries and two‐sided wage inequality. Pacific Economic Review, 18(5), 574–583.CrossRefGoogle Scholar
Marjit, S., and Kar, S. eds. (2018). International Trade, Welfare, and the Theory of General Equilibrium. Cambridge: Cambridge University Press.Google Scholar
Marjit, S., and Mandal, B. (2012). Domestic trading costs and pure theory of international trade. International Journal of Economic Theory, 8(2), 165–178.Google Scholar
Marjit, S., and Mandal, B. (2017). Virtual trade between separated time zones and growth. International Journal of Economic Theory, 13(2), 171–183.CrossRefGoogle Scholar
Marjit, S., Mandal, B., and Nakanishi, N. (2020). Virtual Trade and Comparative Advantage: The Fourth Dimension. Singapore: Springer.Google Scholar
Marjit, S., Pant, M., and Huria, S. (2020). Unskilled immigration, technical progress, and wages: Role of the household sector. Review of International Economics, 28(1), 235–251.Google Scholar
Marjit, S., and Yang, L. (2021). An Elementary Theorem on Gains from Virtual Trade. CESifo Working Paper 8703. http://dx.doi.org/10.2139/ssrn.3736485.Google Scholar
Markusen, J. R. (2021). Ronald Jones’s duality analysis as a foundation for applied general‐equilibrium modeling. International Journal of Economic Theory, 17(1), 6–19.Google Scholar
Matsuoka, Y., and Fukushima, M. (2010). Time zones, shift working and international outsourcing. International Review of Economics and Finance, 19, 769–778.Google Scholar
McCalman, P. (2021). Trade Policy with FANG’s (aka Trade Policy and Multi-sided Platforms). Working Paper, https://drive.google.com/file/d/1o740qKVo7dPpDyPM1_3xMmMLeZFs6GAt/view.Google Scholar
McCalman, P. (2022). e-Globalization and Trade Agreements. Working Paper, https://drive.google.com/file/d/1skUk6cYhj5ejmEJySyHderLh_1Xa-vxt/view.Google Scholar
Melitz, M. J. (2003). The impact of trade on intra-industry reallocation and aggregate industry productivity. Econometrica, 71(6), 1695–1725.Google Scholar
Melitz, M., and Ottaviano, G. (2005). Market Size, Trade, and Productivity. NBER Working Paper 11393. Cambridge, MA: National Bureau of Economic Research.Google Scholar
Melitz, M. J., and Redding, S. (2012). Heterogeneous Firms and Trade. NBER Working Paper 18652. Cambridge, MA: National Bureau of Economic Research.CrossRefGoogle Scholar
Melitz, M. J., and Redding, S. (2021). Trade and Innovation. CEPR Discussion Paper 16264. https://cepr.org/publications/dp16264.Google Scholar
Melitz, M. J., and Trefler, D. (2012). Gains from trade when firms matter. Journal of Economic Perspectives, 26(2), 91–118.Google Scholar
Morton, F. S. (2006). Consumer benefit from use of the Internet. In Jaffe, A. B., Lerner, J., and Stern, S., eds., Innovation Policy and the Economy, vol. 6. National Bureau of Economic Research, 67–90. Cambridge, MA: MIT Press.Google Scholar
Nakanishi, N., and Long, N. V. (2015). The distributional and allocative impacts of virtual labor mobility across time zones through communication networks. Review of International Economics, 23(3), 638–662.Google Scholar
Navaretti, G. B., and Tarr, D. (2000). International knowledge flows and economic performance: A review of the evidence. World Bank Economic Review, 14(1), 1–15.Google Scholar
Ohlin, B. (1933). Inter-regional and International Trade. Cambridge, MA: Harvard University Press.Google Scholar
Osnago, A., and Tan, S. W. (2016). Disaggregating the Impact of the Internet on International Trade. World Bank Policy Research Working Paper 7785. Washington, DC: World Bank.Google Scholar
Pavcnik, N. (2019). International trade and inequality in developing economies: Assessing the recent evidence. In Catão, L. A. V. and Obstfeld, M., eds., Meeting Globalization’s Challenges: Policies to Make Trade Work for All, 129–142. Princeton, NJ: Princeton University Press.Google Scholar
Porter, M. E. (1985). The Competitive Advantage: Creating and Sustaining Superior Performance. New York: Free Press.Google Scholar
Ricardo, D. ([1817] 1951).On the principles of political economy and taxation. In Sraffa, P., ed., The Works and Correspondence of David Ricardo, vol. 1. Cambridge: Cambridge University Press, 1951.Google Scholar
Richardson, J. D. (1995). Income inequality and trade: How to think, what to conclude. Journal of Economic Perspectives, 9, 33–55.Google Scholar
Rivera-Batiz, L., and Romer, P. (1991). Economic integration and endogenous growth. Quarterly Journal of Economics, 106(2), 531–555.Google Scholar
Robertson, R. (2003). The Three Waves of Globalization: A History of Developing Global Consciousness. New York: Zed Books.Google Scholar
Rodriguez, F., and Rodrik, D. (2001). Trade policy and economic growth: A skeptic’s guide to the cross-national evidence. In Bernanke, B. S. and Rogoff, K., eds., NBER Macroeconomics Annual 2000, vol. 15, 261–338. Cambridge, MA: MIT Press.Google Scholar
Rodrik, D. (2007). One Economics, Many Recipes: Globalization, Institutions, and Economic Growth. Princeton, NJ: Princeton University Press.Google Scholar
Rodrik, D. (2017). Straight Talk on Trade: Ideas for a Sane World Economy. Princeton, NJ: Princeton University Press.Google Scholar
Rodrik, D. (2021). A Primer on Trade and Inequality. NBER Working Paper 29507. Cambridge, MA: National Bureau of Economic Research.Google Scholar
Rodrik, D., Subramanian, A., and Tebbi, F. (2002). Institutions Rule: The Primacy of Institutions over Geography and Integration in Economic Development. NBER Working Paper 9305. Cambridge, MA: National Bureau of Economic Research.Google Scholar
Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5), S71–S102.Google Scholar
Romer, P. M. (1994). New goods, old theory, and the welfare costs of trade restrictions. Journal of Development Economics, 43(1), 5–38.Google Scholar
Roy, U. (2005). International trade and the value of time. Review of International Economics, 13(4),757–769.Google Scholar
Ruffin, R. J., and Jones, R. W. (2007) International technology transfer: Who gains and who loses? Review of International Economics, 15(2), 209–222.Google Scholar
Sachs, J. D., and Shatz, H. (1996). U.S. trade with developing countries and wage inequality. American Economic Review, 86(2), 234–239.Google Scholar
Sachs, J. D., and Warner, A. M. (1995). Economic reform and the process of global integration. Brookings Papers on Economic Activity 1–118. http://dx.doi.org/10.2307/2534573.Google Scholar
Sala-i-Martin, X. (1997). I just ran two million regressions. American Economic Review, 87(2), 178–183.Google Scholar
Samuelson, P. A. (1971). Ohlin was right. Swedish Journal of Economics, 73(4), 365–384.Google Scholar
Sanyal, K. (1983). Vertical specialization in a Ricardian model with a continuum of stages of production. Economica, 50(197), 71–78.Google Scholar
Sanyal, K., and Jones, R. W. (1982). The theory of trade in middle products. American Economic Review, 72(1), 16–31.Google Scholar
Sarkar, A. (1985). A model of trade in intermediate goods. Journal of International Economics, 19(1–2), 85–98.Google Scholar
Singh, N., and Marjit, S., eds. (2003). Joint Ventures, International Investment and Technology Transfer. New York: Oxford University Press.Google Scholar
Sleuwaegen, L., and Smith, P. M. (2021). Service characteristics and the choice between exports and FDI: Evidence from Belgian firms. International Economics, 168, 115–131.Google Scholar
Smith, A. ([1776] 1976). An Inquiry into the Nature and Causes of the Wealth of Nations, ed. E. Cannan, vol. 1. Chicago, IL: University of Chicago Press (originally published in 1904 by Methuen).Google Scholar
Solow, R. M. (2000). Growth Theory: An Exposition, 2nd ed. New York: Oxford University Press.Google Scholar
Sridhar, V. (2019). Emerging ICT Policies and Regulations: Roadmap to Digital Economies. Singapore: Springer.Google Scholar
Stein, E., and Daude, C. (2007). Longitude matters: Time zones and the location of foreign direct investment. Journal of International Economics, 71(1), 96–112.Google Scholar
Stiglitz, J. E., and Charlton, A. (2007). Fair Trade for All: How Trade Can Promote Development. New York: Oxford University Press.Google Scholar
Stiglitz, J., and Greenwald, B. (2014). Creating a Learning Society: A New Approach to Growth, Development, and Social Progress. New York: Columbia University Press.Google Scholar
Sun, M. (2021). The Internet and SME participation in exports. Information Economics and Policy, 57, 100940.Google Scholar
Tomasik, R. (2013). Time zone-related continuity and synchronization effects on bilateral trade flows. Review of World Economics, 149, 321–342.Google Scholar
Ventura, J. (2005). A global view of economic growth. In Aghion, P. and Durlauf, S. N., eds., Handbook of Economic Growth, vol. 1B, 1419–1497. Amsterdam: North-Holland.Google Scholar
Vernon, R. (1966). International investment and international trade in the product cycle. Quarterly Journal of Economics, 80(2), 190–207.Google Scholar
Wang, W., Findlay, C., and Thangavelu, S. (2021). Trade, technology, and the labour market: Impacts on wage inequality within countries. Asian‐Pacific Economic Literature, 35 (1), 19–35.Google Scholar
Williamson, J. G. (1998). Policy backlash: Can the past inform the present? In Aghion, P. and Williamson, J. G., eds., Growth, Inequality and Globalization: Theory, History and Policy, 169–193. New York: Cambridge University Press.Google Scholar
Wood, A. (1994). North–South Trade, Employment and Inequality: Changing Fortunes in a Skill-Driven World. New York: Oxford University Press.Google Scholar
World Bank. (2001). Globalization, Growth and Poverty: Building an Inclusive World Economy. A World Bank Policy Research Report. Washington, DC: World Bank.Google Scholar
World Bank. (2020). World Development Report: Trading for Development in the Age of Global Value Chains. Washington, DC: World Bank. doi: 10.1596/978-1-4648-1457-0.Google Scholar
World Bank. (2021). At your Service? The Promise of Services-Led Development. (Authors G. Nayyar, M. Hallward-Driemeier and E. Davies.) Washington, DC: World Bank. doi: 10.1596/978-1-4648-1671-0.Google Scholar
Zaheer, S. (2000). Time zone economics and managerial work in a global economy. In Earley, P. C. and Singh, H., eds., Innovations in International Management, 339–353. Thousand Oaks, CA: Sage.Google Scholar
Zeira, J. (2007). Wage inequality, technology, and trade. Journal of Economic Theory, 137, 79–103.Google Scholar
Accessibility standard: Unknown
Why this information is here
This section outlines the accessibility features of this content - including support for screen readers, full keyboard navigation and high-contrast display options. This may not be relevant for you.Accessibility Information
Accessibility compliance for the HTML of this element is currently unknown
and may be updated in the future.
- 6
- Cited by