克曼国际经济学 (克曼第九版英文课后答案)

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克曼国际经济学 (克曼第九版英文课后答案)2021年11月2日发(作者:nixon)

Chapter 2 World Trade: An Overview  Chapter Organization Who Trades with Whom? Size Matters: the Gravity Model The Logic of the Gravity Model Using the Gravity Model: Looking for Anomalies Impediments to Trade: Distance, Barriers, and Borders The Changing Pattern of World Trade Has the World Gotten Smaller What Do We Trade? Service Outsourcing Do Old Rules Still Apply? Summary  Key Themes Before entering into a series of theoretical models that explain why countries trade across borders and the benefits of this trade (Chapters –11), Chapter 2 ciders the pattern of world trade which we observe today. The core idea of the chapter is the empirical model known as the gravity model. The gravity model is based on the observati that: (1) countries tend to trade with other nearby economies and (2) countries’ trade is proportional to their size. The model is called the gravity model as it is similar in form to the physics equation that describes the pull of one body on another as proportional to their size and distance. The basic form of the gravity equation is Tij  A  Yi  YjDij. The logic supporting this equation is that large countries have large incomes to spend on imports and produce a large quantity of goods to sell as exports. This means that the larger either trade partner, the larger the volume of trade between them. At the same time, the distance between two trade partners can substitute for the transport costs that they face as well as proxy for more intangible aspects of a trading relatihip such as the ease of contact for firms. This model can be used to estimate the predicted trade between two countries and look for anomalies in trade patterns. The text shows an example where the gravity model can be used to demtrate the importance of national borders in determining trade flows. According to many estimates, the border between the U.S. and Canada has the impact on trade equivalent to roughly 2000 miles of distance. Other factors, such as tariffs, trade agreements, and common language can all affect trade and can be incorporated into the gravity model.

The chapter also ciders the way trade has evolved over time. While people often feel that the modern era has seen unprecedented globalization, in fact, there is precedent. From the end of the 19th century to World War I, the economies of different countries were quite connected. Trade as a share of GDP was higher in 1910 than 1960, and only recently have trade levels surpassed the pre World War trade. The nature of trade has change though. The majority of trade is in manufactured goods with agriculture and mineral products (and oil) making up less than 20% of world trade. Even developing countries now export primarily manufactures. In contrast, a century ago, more trade was in primary products as nati tended to trade for things that literally could not be grown or found at home. Today, the reas for trade are more varied and the products we trade are ever changing (for example, the rise in trade of things like call centers). The chapter concludes by focusing on one particular expansion of what is “tradable”—the increase in services trade. Modern information technology has greatly expanded what can be traded as the person staffing a call center, doing your accounting, or reading your X-ray can literally be half-way around the world. While still relatively rare, the potential for a large increase in service outsourcing is an important part of how trade will evolve in the coming decades. The next few chapters will explain the theory of why nati trade.  Answers to Textbook Problems 1. We saw that not only is GDP important in explaining how much two countries trade, but also, distance is crucial. Given its remoteness, Australia faces relatively high costs of transporting imports and exports, thereby reducing the attractiveness of trade. Since Canada has a border with a large economy (the U.S.) and Australia is not near any other major economy, it makes sense that Canada would be more open and Australia more self-reliant. Mexico is quite close to the U.S., but it is far from the European Union (EU). So it makes sense that it trades largely with the U.S. Brazil is far from both, so its trade is split between the two. Mexico trades more than Brazil in part because it is so close to a major economy (the U.S.) and in part because it is a member of a free trade agreement with a large economy (AFTA). Brazil is farther away from any large economy and is in a free trade agreement with relatively small countries. o, if every country’s GDP were to double, world trade would not quadruple. One way to see this using the example from Table 2-2 would simply be to quadruple all the trade flows in 2-2 and also double the GDP in 2-1. We would see that the first line of Table 2-2 would be—, 6.4, 1.6, 1.6. If that were true, Country A would have exported $8 trillion which is equal to its entire GDP. Likewise, it would have imported $8 trillion, meaning it had zero spending on its own goods (highly unlikely). If instead we filled in Table 2-2 as before, by multiplying the appropriate shares of the world economy times a country’s GDP, we would see the first line of Table 2-2 reads—, .2, 0.8, 0.8. In this case, 60% of Country A’s GDP is exported, the same as before. The logic is that while the world GDP has doubled, increasing the likelihood of international trade, the local economy has doubled, increasing the likelihood of domestic trade. The gravity equation still holds. If you fill in the entire table, you will see that where before the equation was 0.1  GDPi  GDPj, it now is 0.05  GDPi  GDPj. The coefficient on each GDP is still one, but the overall ctant has changed. As the share of world GDP which belongs to East Asian economies grows, then in every trade relatihip which involves an East Asian economy, the size of the East Asian economy has grown. This makes the trade relatihips with East Asian countries larger over time. The logic is similar for why the countries trade more with one another. Previously, they were quite small economies, meaning that their markets were too small to import a substantial amount. As they became more wealthy and the cumption demands of their populace rose, they were each able to import more. Thus, while they previously had focused their exports to other rich nati, over time, they became part of the rich nation club and thus were targets for one another’s exports. Again, using the gravity model, when South Korea and Taiwan were both small, the product of their GDPs was quite small, meaning despite their proximity, there was little trade between them. ow that they have both grown ciderably, their GDPs predict a ciderable amount of trade. 2. . 4.

5. As the chapter discusses, a century ago, much of world trade was in commodities that in many ways were climate or geography determined. Thus, the UK imported goods that it could not make itself. This meant importing things like cotton or rubber from countries in the Western Hemisphere or Asia. As the UK’s climate and natural resource endowments were fairly similar to those in the rest of Europe, it had less of a need to import from other European countries. In the aftermath of the Industrial Revolution, where manufacturing trade accelerated and has continued to expand with improvements in transportation and communicati, it is not surprising that the UK would turn more to the nearby and large economies in Europe for much of its trade. This is a direct prediction of the gravity model.

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克曼国际经济学 (克曼第九版英文课后答案)

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  1. while they previously had focused their exports to other rich nati

  2. we would see the first line of Table 2-2 reads—

  3. there is precedent. From the end of the 19th century to World War I

  4. the Gravity Model The Logic of the Gravity Model Using the Gravity Model