Publication type: Working paper

Title: Measuring trade creation effects of free trade agreements: Evidence from wine trade in East Asia

Author(s): Kimie Harada,Shuhei Nishitateno

Excerpt:

East Asia has experienced an unprecedented expansion in its wine market over the past two decades. This paper examines the extent to which import tariff reductions through bilateral free trade agreements (FTAs) have contributed to an increase in wine imports to Japan, China, and South Korea. Our empirical method involves estimating an augmented version of the gravity equation by the Poisson pseudo-maximum likelihood (PPML) technique.

Date of publication: 2021

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Publication type: Working paper

Title: COVID-19 and global beverage markets: Implications for wine

Author(s): Glyn Wittwer,Kym Anderson

Excerpt:

This paper provides an empirical case study of impacts of the COVID-19 pandemic on global beverage markets, particularly the wine sector. Both international trade and domestic sales have been adversely affected by temporary shifts away from on-premise sales by social distancing measures and self-isolation that led to closure of restaurants, bars and clubs plus declines in international travel and tourism. Partly offsetting this has been a boost to off-premise and direct e-commerce sales.

Date of publication: 2021

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Publication type: Policy

Title: Clever Country in a Changed World: Re-Thinking Australian Science Policy

Author(s): Paul Harris

Excerpt:

The global science and technology system has undergone massive change since 2000 and is now a key site of geoeconomic competition between states. For the first time in Australia’s history, its most significant partner for science collaboration will be a country other than its principal ally, the United States.

Date of publication: 2021

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Publication type: Working paper

Title: Economist as public intellectual: Max Corden’s journey through life

Author(s): Prema-chandra Athukorala,Hal Hill,Sisira Jayasuriya

Excerpt:

This paper examines the intellectual contributions of Professor W. M. (‘Max’) Corden to Economics. We focus on three main fields: trade theory and practice, especially his pioneering work on the theory of effective protection; open economy macroeconomics, including exchange rate policy, the international monetary system, Dutch Disease, and economic crises; and Australian economic policy.

Date of publication: 2021

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Publication type: Working paper

Title: Structural transformation and inequality: Does trade openness matter?

Author(s): Wannaphong Durongkaveroj

Excerpt:

The purpose of this paper is to examine how trade openness impacts on income inequality in the process of economic transformation. The paper begins with an analytical framework drawing on Kuznets (1955) to set the stage for the empirical analysis. It then examines the role of trade openness in the structural transformation-income inequality nexus using a multi-country panel data analysis covering 48 countries for the period from 1960 to 2010.

Date of publication: 2021

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Publication type: Working paper

Title: How Krugman forgot agriculture and misread the sources of Asia’s growth

Author(s): Peter Warr

Excerpt:

In his famous 1994 essay ‘The Myth of Asia’s Miracle’, Paul Krugman argued that the growth of output per person in Asia was due almost entirely to increasing primary factor inputs per head of population – raising labour force participation and adding capital to labour. He called this ‘perspiration’, which he distinguished from ‘inspiration’ – productivity growth derived from technical change. According to Krugman’s sources, the latter contributed very little.

Date of publication: 2021

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Publication type: Working paper

Title: Pandemic-induced de-urbanisation in Indonesia

Author(s): Peter Warr,Arief Anshory Yusuf

Excerpt:

The COVID-19 pandemic has affected Indonesia severely. It was initially an urban event, but the loss of urban jobs has induced a large urban to rural migration, which we call de-urbanisation. This phenomenon temporarily reversed the long-term process of rural to urban reallocation of labour. In early 2021 the approximate size of this de-urbanisation was known, but not its effects. This paper analyses the general equilibrium consequences of this overlooked feature of the pandemic.

Date of publication: 2021

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Publication type: Working paper

Title: Asian economic development: A primer

Author(s): Prema-chandra Athukorala

Excerpt:

During the post-World War 11 era, the process of economic transformation in Asia has been more rapid and extensive than in any other region in the world. With the Asia-wide embrace of market-oriented policy reforms and following the meteoric rise of China and India’s awakening from economic slumber, the twenty-first century has come to be labelled the ‘Asian Century’. The purpose of this paper is to introduce the nonspecialized reader to a selection of published papers that provides a comprehensive picture of economic policymaking and performance of these countries.

Date of publication: 2021

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