IDEAS home Printed from https://ideas.repec.org/p/ags/pugtwp/330897.html
   My bibliography  Save this paper

Economic Growth and Global Economic Analysis: Use Of The New Growth Theory

Author

Listed:
  • Roe, Terry

Abstract

A non-technical overview of the new growth theory is provided from both an analytical and empirical perspective. Following a brief analytical sketch of the R&D based models, the results from fitting two structural models to data are presented. Results show the relative impacts on growth from trade and R&D based policies including technological spillovers from trade. The mechanism of inter-sectoral adjustments to the long-run growth path is also discussed. While the theory provides new insights into growth, some skepticism is raised as to its general applicability as an important structure in policy models. The need to apply behaviorally consistent dynamic models, e.g., of the Ramsey genre, to empirically based policy models is strongly supported.

Suggested Citation

  • Roe, Terry, 2001. "Economic Growth and Global Economic Analysis: Use Of The New Growth Theory," Conference papers 330897, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    • Handle: RePEc:ags:pugtwp:330897
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/330897/files/2436.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Subhash Sharma & Soo Chua, 2000. "ASEAN: economic integration and intra-regional trade," Applied Economics Letters, Taylor & Francis Journals, vol. 7(3), pages 165-169.
    2. Philippa Dee & Jyothi Gali, 2005. "The Trade and Investment Effects of Preferential Trading Arrangements," NBER Chapters, in: International Trade in East Asia, pages 133-176, National Bureau of Economic Research, Inc.
    3. Jeffrey A. Frankel, 1993. "Is Japan Creating a Yen Bloc in East Asia and the Pacific?," NBER Chapters, in: Regionalism and Rivalry: Japan and the United States in Pacific Asia, pages 53-88, National Bureau of Economic Research, Inc.
    4. Sophie Chauvin & Guillaume Gaulier, 2002. "Regional Trade Integration in Southern Africa," Working Papers 2002-12, CEPII research center.
    5. Masahiro Endoh, 1999. "Trade creation and trade diversion in the EEC, the LAFTA and the CMEA: 1960-1994," Applied Economics, Taylor & Francis Journals, vol. 31(2), pages 207-216.
    6. Jeffrey A. Frankel, 1997. "Regional Trading Blocs in the World Economic System," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 72, April.
    7. Anne O. Krueger, 1999. "Trade Creation and Trade Diversion Under NAFTA," NBER Working Papers 7429, National Bureau of Economic Research, Inc.
    8. Tiiu Paas, 2000. "Gravity Approach For Modeling Trade Flows Between Estonia And The Main Trading Partners," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 4, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Robert J. R. Elliott & Kengo Ikemoto, 2004. "AFTA and the Asian Crisis: Help or Hindrance to ASEAN Intra‐Regional Trade?," Asian Economic Journal, East Asian Economic Association, vol. 18(1), pages 1-23, March.
    2. Gloria O. Pasadilla, 2007. "Preferential trading agreements and agricultural liberalization in East and South-East Asia," STUDIES IN TRADE AND INVESTMENT, in: Studies in Trade and Investment - AGRICULTURAL TRADE - PLANTING THE SEEDS OF REGIONAL LIBERALIZATION IN ASIA, volume 60, pages 75-130, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    3. Lucian Cernat, 2001. "ASSESSING REGIONAL TRADE ARRANGEMENTS: ARE SOUTH–SOUTH RTAs MORE TRADE DIVERTING?," International Trade 0109001, University Library of Munich, Germany.
    4. Vollrath, Thomas L. & Grant, Jason H. & Hallahan, Charles B., 2012. "Reciprocal Trade Agreements: Impacts on U.S. and Foreign Suppliers in Commodity and Manufactured Food Markets," Economic Research Report 131618, United States Department of Agriculture, Economic Research Service.
    5. Dunning John H. & Lundan Sarianna M. & Eckes Alfred E. & Bryant Sarah K. & Unger Michael L. & Shelburne Robert C. & Cernat Lucian, 2001. "Global Economy Quarterly, Issue 3," Global Economy Journal, De Gruyter, vol. 2(3), pages 109-109, December.
    6. Céline CARRERE, 2003. "African Regional Agreements: Their Impact on Trade With or Without Currency Unions," Working Papers 200311, CERDI.
    7. Jérôme Trotignon, 2009. "L'intégration régionale favorise-t-elle la multilatéralisation des échanges ?," Post-Print halshs-00335633, HAL.
    8. Jong‐Wha Lee & Innwon Park & Kwanho Shin, 2008. "Proliferating Regional Trade Arrangements: Why and Whither?," The World Economy, Wiley Blackwell, vol. 31(12), pages 1525-1557, December.
    9. Salahuddin & Javed Iqbal & Misbah Nosheen, 2020. "Economic & Cultural Distance & Regional Integration: Evidence from Gravity Model Using Disaggregated Data for Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 59(2), pages 243-274.
    10. Philippa Dee, 2005. "The Australia-US Free Trade Agreement: An Assessment," Asia Pacific Economic Papers 345, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
    11. Carrere, Celine, 2006. "Revisiting the effects of regional trade agreements on trade flows with proper specification of the gravity model," European Economic Review, Elsevier, vol. 50(2), pages 223-247, February.
    12. Rahman, Mohammad Mafizur, 2005. "The Determinants of Bangladesh's Trade: Evidence from the Generalized Gravity Model," Working Papers 3, University of Sydney, School of Economics.
    13. Narayan, Seema & Nguyen, Tri Tung, 2016. "Does the trade gravity model depend on trading partners? Some evidence from Vietnam and her 54 trading partners," International Review of Economics & Finance, Elsevier, vol. 41(C), pages 220-237.
    14. Céline CARRERE, 2003. "Revisiting the Effects of Regional Trading Agreements on trade flows with Proper Specification of the Gravity Model," Working Papers 200310, CERDI.
    15. Philippa Dee, 2005. "The Australia–US Free Trade Agreement - An Assessment," Trade Working Papers 22309, East Asian Bureau of Economic Research.
    16. Trotignon, Jérôme, 2010. "Does Regional Integration Promote the Multilateralization of Trade Flows?: a Gravity Model Using Panel Data," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 25, pages 223-251.
    17. Shiro Armstrong, 2007. "Measuring Trade and Trade Potential: A Survey," Asia Pacific Economic Papers 368, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
    18. Lucian Cernat, 2003. "Assessing South–South Regional Integration: Same Issues, Many Metrics," UNCTAD Blue Series Papers 21, United Nations Conference on Trade and Development.
    19. Festus Ebo Turkson, 2012. "Trade Agreements and Bilateral Trade in Sub-Saharan Africa: Estimating the Trade Effects of the EU-ACP PTA and RTAs," Discussion Papers 12/07, University of Nottingham, CREDIT.
    20. Wahyudi Setia Darma & Fithra Faisal Hastiadi, 2017. "Trade Creation and Trade Diversion Effects of the ASEAN-China Free Trade Agreement, ASEAN-Korea Free Trade Agreement, and ASEAN-India Free Trade Agreement Implementation on the Export of Indonesia's F," International Journal of Economics and Financial Issues, Econjournals, vol. 7(6), pages 51-58.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:pugtwp:330897. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/gtpurus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.