Reducing Trade Barriers to Close the Gap between Rich and Poor Countries скачать в хорошем качестве

Reducing Trade Barriers to Close the Gap between Rich and Poor Countries

According to research by Economist B. Ravikumar and his colleagues, the removal of trade barriers could close the income gap between rich and poor countries by 50%. "Imagine a person living at $1 a day and compare that to a person living at $20 or $25 a day. Capital goods trade -- if you remove the barriers -- would improve the situation. That gap closes by a half." 00:00 - Intro 00:53 - Capital Goods Trade 01:19 - Trade Barriers: Tariff Rates & Quotas 02:31 - Total Factor Productivity 03:33 - Closing the Income Gap Why? If trade barriers are removed, capital goods flow more freely. This benefits all parties since they all can use their resources more efficiently. The gain in standard of living is very important, he says. "When you remove all the barriers to trade, the capital goods flows more freely across countries, and this is benefiting both parties. So our finding is that in the cross section of countries in our sample, the income gap between rich countries and poor countries closes by a factor of 50%. 80% of the gains is as a result of higher physical capital, and 20% of the gains is because of higher total factor productivity," Ravikumar said. Download the working paper (PDF): https://doi.org/10.20955/wp.2014.012 Learn more: https://www.stlouisfed.org/timely-top... Follow Us: X/Twitter: https://x.com/stlouisfed LinkedIn:   / stlouisfed   Instagram:   / stlouisfed   Threads: https://www.threads.com/@stlouisfed Bluesky: https://bsky.app/profile/stlouisfed.b... Facebook:   / stlfed   #trade #capitalgoods #tariffs #economics