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Economic development in emerging Asian markets: implications for Europe

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  • Will Martin
  • Elena Ianchovichina
  • Betina Dimaranan

Abstract

The impacts of faster growth in China and India for Europe are analysed taking into account terms-of-trade effects, second-best welfare impacts and improvements in product quality and variety. More rapid growth in these giants could improve Europe's terms of trade, but second-best effects on energy markets could lower welfare unless these taxes are Pigovian. Whether growth arises from productivity or capital accumulation has important implications, with capital-driven growth involving higher energy and agricultural prices. When quality and variety growth are taken into account, the benefits to Europe are substantially greater. If agricultural protection in emerging Asia increases with growth, the impacts on Europe appear to be adverse but small. Oxford University Press and Foundation for the European Review of Agricultural Economics 2008; all rights reserved. For permissions, please email journals.permissions@oxfordjournals.org, Oxford University Press.

Suggested Citation

  • Will Martin & Elena Ianchovichina & Betina Dimaranan, 2008. "Economic development in emerging Asian markets: implications for Europe," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 35(3), pages 303-330, September.
    • Handle: RePEc:oup:erevae:v:35:y:2008:i:3:p:303-330
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    File URL: http://hdl.handle.net/10.1093/erae/jbn017
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    Cited by:

    1. Tokarick, Stephen, 2017. "The Implications of Chinas Pattern of Growth For the Rest of the World," Conference papers 332818, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    2. Jean-Marc Burniaux & Jean Chateau & Romain Duval, 2013. "Is there a case for carbon-based border tax adjustment? An applied general equilibrium analysis," Applied Economics, Taylor & Francis Journals, vol. 45(16), pages 2231-2240, June.
    3. Débora Bellucci Módolo & Celio Hiratuka, 2017. "The impact of Chinese competition on third markets: An analysis by region and technological category," Development Policy Review, Overseas Development Institute, vol. 35(6), pages 797-821, November.
    4. Elena Ianchovichina & Maros Ivanic & Will Martin, 2010. "The growth of China and India: implications and policy reform options for Malaysia," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 24(2), pages 117-141, November.
    5. Hirsch, Cornelius & Krisztin, Tamás & See, Linda, 2020. "Water Resources as Determinants for Foreign Direct Investments in Land - A Gravity Analysis of Foreign Land Acquisitions," Ecological Economics, Elsevier, vol. 170(C).
    6. Honkatukia, Juha & Kaitila, Ville & Kotilainen, Markku & Niemi, Janne, 2012. "Global trade and climate policy scenarios – Impact on Finland," Working Papers 37, VATT Institute for Economic Research.
    7. Ianchovichina, Elena & Ivanic, Maros & Martin, Will, 2009. "Implications of the growth of China and India for the other Asian giant : Russia," Policy Research Working Paper Series 5075, The World Bank.

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