This paper reviews the main schools of thought on the political economy of trade and employment - in particular, the potential costs of liberalisation and the manner that concerns about these costs may inhibit countries' willingness to open markets.
The effects of globalisation have been at the forefront of public debate in recent years, fuelled on the one hand by the large benefits of integrated markets, and on the other hand, by the detrimental adjustment effects often experienced by many economies as a result. Knowing how trade has been evolving over time and the role policy has played in this evolution are critical to understanding the globalisation debate and grasping the lessons for future policy development. The comparative advantage hypothesis has been suggested as one of the principal explanations of international trade and of the benefits associated with openness. It has also provided the intellectual underpinnings for most trade policy in the past 50 years. This book collects OECD work that builds on recent contributions to the theory and empirics of comparative advantage, putting particular emphasis on the role policy can play in shaping trade.
Imports tend to bring wages up for skilled workers rather than push wages down, according to this study of the relationship between wages and trade in 55 countries and 40 industries. This positive effect is evidence of the increased productivity of firms who import inputs.
Exchange rate levels affect trade flows in agriculture and in the manufacturing and mining sector in China, the Euro area and the United States, though they do not explain in their entirety the trade imbalances in these three economies, this paper finds.
Physical and human capital (especially second- and third-level education), financial development and some aspects of labour market institutions are important policy and institutional areas that determine comparative advantage today, according to this paper.
Ce rapport présente la structure et les principales caractéristiques de la Politique agricole commune (PAC) en cours et fait le point des réformes successives de ces 25 dernières années, dans un environnement en constante évolution à l’intérieur comme à l’extérieur de l’Union européenne. Il analyse les conséquences des changements de politiques sur la production, les échanges, l’utilisation des terres, la structure des exploitations, l’environnement et certains aspects du développement rural. Il recommande en outre d’améliorer l’orientation vers le marché, la compétitivité et la gestion des risques tout au long de la chaîne alimentaire, de mieux définir les liens entre mesures et objectifs en ciblant plus précisément les interventions, et de renforcer les informations sur lesquelles doivent reposer les politiques.
Ce rapport comprend un panorama des évolutions récentes et à plus long terme intervenues dans la Politique agricole commune (PAC), tant en ce qui concerne le volume que la nature du soutien. Le rapport analyse l’impact des réformes successives, au niveau global et pour les exploitants.
États et contribuables ont dépensé environ 500 milliards de dollars l’an dernier pour soutenir la production et la consommation de combustibles fossiles. La suppression des subventions inefficaces augmenterait les revenus nationaux et réduirait les émissions de gaz à effet de serre, selon l’OCDE et l’AIE.
On the 50th anniversary of the OECD, we examine the unique work the organisation performs in regulating and rationalising governments’ use of export credits in support of exports, jobs, economic growth and national interests more broadly. This work is part of a global post war effort to emphasise multilateral co operation and sound economic policies to promote co operation, efficiency and prosperity rather than destructive competition, controversy and conflict.
OECD export credits work is one of the basic building blocks of the ever growing structure of global trade agreements that aim to maintain open and efficient markets. The objective is to eliminate subsidies and unfair practices in the economic competition that forms the foundation of a healthy and dynamic global economy. The elimination of official financing subsidies in global trade is only a part of the broader trade policy agenda, but it is a vital part, and has been delegated to the OECD by the WTO. Since financing is the life blood of trade flows, specialised OECD housed work allows trade to flow efficiently for aircraft and other capital goods while other trade policy work and litigation continue at the WTO.
The export credits work at the OECD is described in this collection of essays. However it is about much more than the series of agreements described herein. It is more fundamentally about the governments and their people - policy makers and experts - who gather at the OECD to build collectively a system of export credits disciplines that is fair, transparent, adaptable and effective. It is therefore as much about people and ideas as anything else. The export credit secretariat pictured above represents only the latest in a long line of OECD staff committed to facilitate and advise this work.
The OECD’s motto on its 50th anniversary is “Better Policies for Better Lives.” This reminds us that in the end, it is policies that are at the centre of human well being. And export credits work is about promoting these better policies by developing “smart rules” that open markets and maintain a level playing field and by bringing people and governments together to this end.
OECD export credits work is one of the basic building blocks of the ever growing structure of global trade agreements that aim to maintain open and efficient markets.