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Globalisation, Comparative Advantage and the Changing Dynamics of Trade

image of Globalisation, Comparative Advantage and the Changing Dynamics of Trade

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.

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Intellectual property reform and productivity enhancement

For a broad sample of OECD countries, this chapter considers empirically the relationship between change in the protection of intellectual property rights (IPR) between 1990 and 2000 and the evolution of technological achievement, as well as the relationship of such achievement to change in labour productivity. The core assessment proceeds via regression analysis using a two stage approach and national level data. The results point to a positive and statistically significant relationship between indicators for protection of patent and trademark rights and technological achievement. The relationship between such technological achievement and labour productivity was positive and significant in certain specifications.

English

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