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Mercados coloniais: um estudo sobre a integração entre mercados latino americanos e europeus de 1650 a 1820; Colonial markets: a study of market integration between Latin America and Europe from 1650 to 1820

Paixão, Ricardo Fernandes
Fonte: Biblioteca Digitais de Teses e Dissertações da USP Publicador: Biblioteca Digitais de Teses e Dissertações da USP
Tipo: Tese de Doutorado Formato: application/pdf
Publicado em 27/01/2009 Português
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66.25%
Se maiores mercados permitem ganhos de especialização, conforme postulado por Adam Smith, o estudo da integração entre mercados ocupa posição central em economia. No contexto histórico tais estudos permitem inferir, a partir de evidência empírica contida em séries de preços, relacionamentos entre diversos mercados e, conseqüentemente, permitem apoiar ou refutar a narrativa histórica tradicional. Apesar do grande número de estudos históricos sobre integração de mercados entre países europeus, e, em menor grau, Estados Unidos e China, a literatura sobre integração entre mercados latino americanos e europeus durante o período colonial é praticamente inexistente. Esta tese estuda, através de técnicas de cointegração, oito produtos (açúcar, trigo, linho, papel, sabão, carne e vinho) e doze mercados (Bolívia, Brasil, Argentina, Chile, Peru, Colômbia, Inglaterra, França, Alemanha, Itália, Espanha e Portugal) ao longo de até 800 anos. O principal resultado é o fato de o mercado inglês aparecer ao centro do comércio latino americano e mesmo ibérico durante o período colonial. Este resultado suporta a narrativa histórica tradicional que enfatiza a crescente ascendência do contrabando inglês na região. Por outro lado...

Product market integration and environmental policy coordination in an international duopoly

Straume, Odd Rune
Fonte: Springer Netherlands Publicador: Springer Netherlands
Tipo: Artigo de Revista Científica
Publicado em /08/2006 Português
Relevância na Pesquisa
66.19%
We analyse the effect of product market integration on environmental policy incentives in an international duopoly, where national policy makers act strategically. If traditional trade policy instruments are not available, environmental policies will typically be determined by the interaction of conflicting policy incentives. Contrary to popular belief, we find that international product market integration, in this particular setting, might reduce the need for transnational policy coordination, both from a purely environmental and from a social welfare perspective.

Regional Power Integration : Structural and Regulatory Challenges

World Bank
Fonte: World Bank Publicador: World Bank
Português
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56.4%
The Central America Regional Electricity Market (MER) trades electricity and transmission capacity among six Central American countries: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama. The market differs from other electricity markets worldwide because it has its own regulatory body and system operator. Economic integration of the Central American countries has followed a natural evolution. The continuous increase in the demand for goods and services has been accompanied by political and institutional arrangements leading to the materialization of commercial and trade agreements aimed at benefiting the nationals of all the integrated nations at the lowest possible cost. This is particularly true in the electricity sector, which provides a key development service for the achievement of sustainable growth. In fact, electricity integration through cross-border power trade has been discussed by the Central American countries since the late 1970s. This report analyzes the progress of the Central American integrated electricity market...

Determinants of Market Integration and Price Transmission in Indonesia

Varela, Gonzalo; Aldaz-Carroll, Enrique; Iacovone, Leonardo
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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66.38%
This paper investigates the determinants of price differences and market integration among Indonesian provinces, using data from retail cooking oil, rice and sugar markets during the period 1993-2007, and from wholesale maize and soybean markets during the period 1992-2006. The authors measure the degree of integration using co-integration techniques, and calculate average price differences. They use regression analysis to understand the drivers of price differences and market integration. For rice and sugar, they find wide market integration and low price differences, in the range of 5-12 percent. For maize, soybeans and cooking oil, they find less integration and higher price differences (16-22 percent). Integration across provinces is explained by the remoteness and quality of transport infrastructure of a province. Price differences across provinces respond to differences in provincial characteristics such as remoteness, transport infrastructure, output of the commodity, land productivity and income per capita.

Has NAFTA Increased Labor Market Integration between the United States and Mexico?

Robertson, Raymond
Fonte: Published by Oxford University Press on behalf of the World Bank Publicador: Published by Oxford University Press on behalf of the World Bank
Tipo: Artigo de Revista Científica
Português
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66.29%
This article analyzes three criteria for labor market integration between Mexico and the United States (U.S.) before and since the North American Free Trade Agreement (NAFTA): the responsiveness of Mexican wages to US wage shocks, the speed at which relative wages return to a long-run differential, and changes in the rate of convergence of absolute wages. Tests for increased integration using these three criteria generate mixed results, which are then explored by directly incorporating trade, foreign direct investment (FDI), and migration. The results suggest that trade and FDI did in fact positively contribute to integration but that the increase in border enforcement depressed Mexican wages, masking the positive benefits.

Food Prices, Road Infrastructure, and Market Integration in Central and Eastern Africa

Brenton, Paul; Portugal-Perez, Alberto; Regolo, Julie
Fonte: World Bank Group, Washington, DC Publicador: World Bank Group, Washington, DC
Português
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66.39%
Market integration is key to ensuring sufficient and stable food supplies. This paper assesses the impediments to market integration in Central and Eastern Africa for three food staples: maize, rice, and sorghum. The paper uses a large database on monthly consumer prices for 150 towns in 13 African countries and detailed data on the length and quality of roads linking the towns. The analysis finds a substantial effect of distance and share of paved road on the level of market integration, as measured by relative prices. Furthermore, the paper evaluates the additional domestic and cross-border impediments to market integration in the region and represents them on a regional map. The analysis finds heterogeneous levels of domestic market integration across countries and significant "border effects" for the majority of contiguous countries in the sample, which reveal that markets are more integrated within than between countries. Countries that are members of the same regional trade agreement have substantially "thinner" borders with other members. Finally...

Market integration in wholesale rice markets in India

Jha, Raghbendra; Murthy, KV Bhanu; Sharma, Anurag
Fonte: Universidade Nacional da Austrália Publicador: Universidade Nacional da Austrália
Tipo: Working/Technical Paper Formato: 1168696 bytes; 354 bytes; application/pdf; application/octet-stream
Português
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66.19%
This paper tests for market integration in 55 wholesale rice markets in India using monthly data over the period January 1970 – December 1999. The technique of Gonzalez-Rivera and Helfand (2001) is used to identify common factors across various markets. It is discovered that market integration is far from complete in India and a major reason for this is the excessive interference in rice markets by government agencies. As a result it is hard for scarcity conditions in isolated markets to be picked up by markets with abundance in supply. A number of policy implications are also considered.; no

Grain market integration and marketing margin in China

Laping, Wu
Fonte: Universidade Nacional da Austrália Publicador: Universidade Nacional da Austrália
Tipo: Working/Technical Paper Formato: 515152 bytes; 352 bytes; application/pdf; application/octet-stream
Português
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66.22%
With China’s accession to the World Trade Organization (WTO), the country’s enormous population and market have captured the world’s attention. Access to China’s agricultural markets (especially its grain markets) has become a primary focus for major agricultural commodity exporters. The question of who well China’s grain marketing system works, however, still causes concern. Can China’s grain producer/farm gate, wholesale and urban/retail markets coordinate efficiently? What is the nature of the relationships among them? How much attention should the Chinese government pay to wholesale, retail and producer markets? Questions like these are being asked with increasing frequency and urgency both within China and around the world. Research on spatial market integration shows that China’s grain markets are not highly integrated, and that the government should therefore rescind controls on grain trade. Using integration and marketing margin analysis, this paper examines the relationships among Chinese producer markets, wholesale markets and retail markets, to determine how well the Chinese grain market works. The finding should be able to assist the Chinese government in the management and construction of a grain marketing system...

Food Price Differences and Market Integration in China

Wu, Laping
Fonte: Universidade Nacional da Austrália Publicador: Universidade Nacional da Austrália
Tipo: Working/Technical Paper Formato: 58884 bytes; application/pdf
Português
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66.36%
By applying the co-intergration appproach, this paper tests the market integration for the main agricultural products in China. Both long-run market integration and short-run market integration for the main agricultural products are tested and analysed. The study also calculates the Index of Market Connection (IMC) to measure the degree of market integration of the main agricultural products. The study reveals that the major agricultural product markets in China are integrated in long-run, but the degree of short-run market integration is very low. Therefore, in agricultural product markets, the transmission of price information is very slow and price changes across regions are not responsive. Based on the research results, the study also discusses some policy implications to improve the degree of market integration of agricultural products in China.; no

On the efectiveness of several market integration measures: an empirical analysis

Pardo, Ángel; Balbás, Alejandro; Meneu, Vicente
Fonte: Universidade Carlos III de Madrid Publicador: Universidade Carlos III de Madrid
Tipo: Trabalho em Andamento Formato: application/pdf
Publicado em /05/1999 Português
Relevância na Pesquisa
66.25%
Many market integration measures are operationalized to compute their numerical values during a period characterized by the lack of stability ad market turmoil. The results of the tests give their degree of effectiveness, and reveal that the measures based on the principles of asset valuation, versus statistical measures, more clearly yield the level of integration of financial markets. Besides, cross market arbitrage-linked measures and equilibrium models-linked measures provide complementary information and reflect different properties, and consequently, both types of measures may be useful in practice.

La Integración del Mercado Español a Finales del Siglo XIX: Los Precios del Trigo Entre 1891 y 1905; Spanish Market Integration at the end of the 19th Century. Wheat Prices between 1891 and 1905

Matilla García, Mariano; Pérez Pascual, Pedro; Sanz Carnero, Basilio
Fonte: Universidad Carlos III de Madrid. Instituto Figuerola de Historia Económica Publicador: Universidad Carlos III de Madrid. Instituto Figuerola de Historia Económica
Tipo: info:eu-repo/semantics/publishedVersion; info:eu-repo/semantics/article
Publicado em //2009 Português
Relevância na Pesquisa
66.25%
The degree of development of Spanish agriculture at the end of the XIX century and the beginning of XX is a controversial issue. In this respect the study of the integration of the domestic market could provide new evidence since the degree of the market integration can be considered an indicator of economic development. By using regional wheat prices this paper analyzes the Spanish market integration between 1891 and 1905. With this aim in mind we employ the usual cointegration approach as well as an alternative method based on spectral analysis that allows taking into consideration the existence of no synchronized cycles.; El grado de desarrollo de la agricultura española a finales del siglo XIX y principios de XX es una cuestión controvertida y el análisis de la integración del mercado interior puede aportar evidencias que contribuyan a matizar esta tesis. En general se considera que el grado de integración de mercado es un indicador del desarrollo económico. Este trabajo analiza empíricamente la cuestión de la integración del mercado interior entre 1891 y 1905 a partir de los precios del trigo de las diferentes regiones. A tal fin se presenta además del modelo de cointegración predominante en la actualidad un mètodo alternativo...

Levels and determinants of agricultural market integration: the impacts of policies on marketisation

Yang, Du
Fonte: Universidade Nacional da Austrália Publicador: Universidade Nacional da Austrália
Tipo: Working/Technical Paper Formato: 501587 bytes; 352 bytes; application/pdf; application/octet-stream
Português
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66.41%
Degree of market integration has often been used as a gauge of the success of market liberalisation and structural adjustment policies in developing countries. China is both an emerging economy and the world’s largest transitional economy. The target of its economic reform is the formation of an efficient market-oriented economy. Since it provides a wealth of evidence of the workings of a transitional economy, the performance of China’s market is of great interest to transitional economists. There are two reasons to believe that market integration must be tested if the progress of economic reform in China is to be determined. The first reason relates to debates about assessment of market performance. On the one hand, China has been praised for facilitating market competition amongst state-owned, collective and private sectors. On the other hand, Young argues that, despite market-oriented reform, segments of the Chinese economy freed from central control tend to exploit rent-seeking opportunities implicit in distortions of the economy. As Young puts it, ‘distortions beget distortion’. It is possible China’s ongoing reform will stimulate sustained economic growth. If Young’s prediction is accurate, however, China’s markets have been getting less rather than more integrated and sustained economic growth in the future is unlikely. It is necessary...

World Market Integration through the Lens of Foreign Direct Investors

Albuquerque, Rui; Loayza, Norman; Serven, Luis
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
66.41%
The authors analyze the unparalleled increase in foreign direct investment to emerging market economies in the past 25 years. Using a large cross-country time-series data set, the authors evaluate the dependence of foreign direct investment on global factors or worldwide sources of risk (that is, factors that drive foreign direct investment across several countries). They construct a globalization measure that equals the share of explained variation in direct investment attributable to global factors. The authors show that the globalization measure has increased steadily for industrial and developing countries. For the full sample of countries, the globalization measure rose eightfold from 1985 to 1999. Furthermore, in recent years developing countries' exposure to global factors has approached that of industrial countries, particularly for Latin America. Finally, the globalization measure correlates strongly with measures of capital market liberalization. Overall the authors find strong support for the hypothesis of increased market integration which implies a greater role for worldwide sources of risk. They discuss the implications of the results for public policies regarding capital market liberalization and policies directed at attracting foreign investment.

Product Market Integration and Household Labor Supply in a Poor Economy : Evidence from Vietnam

Edmonds, Eric V.; Pavcnik, Nina
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
66.2%
This report considers how product market integration in a country's primary agricultural export alters the economic activities of men and women in a poor economy. Between 1993 and 1997, Vietnam relaxed its rice export quota and freed internal restrictions on the trade of rice across regions. These reforms contributed to an almost 30 percent increase in the real price of rice. Using a panel of rural Vietnamese communities that spans the period of policy change, the authors relate the regional and intertemporal variation in the price of rice to changes in the economic activities of children, young adults, and adults by gender. They find that higher rice prices are associated with lower participation in wage work by boys, girls, and young adults, and lower participation in household production by adults. Moreover, higher rice prices are associated with less time devoted to household production for all age groups and adults devoting more hours to wage work. Finally, with the exception of children, labor market responses to changes in rice prices mostly do not differ statistically for males and females.

Household Composition and the Response of Child Labor Supply to Product Market Integration : Evidence from Vietnam

Edmonds, Eric V.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
66.27%
Market integration raises the relative price of a community's export product. The author examines how the response of child labor supply to an increase in the relative price of a primary export product varies with a child's household composition. The specific context for his study is the liberalization of rice markets in Vietnam in the 1990s. Between 1993 and 1998, Vietnam lifted export restrictions on rice, allowing the domestic price to rise toward international levels, and eliminated internal restrictions on the flow of rice between regions of Vietnam. So, the relative price of rice increased overall in Vietnam, but the degree of price change varied across communities with the lifting of restrictions on internal flows. The author finds that the response of child labor supply to rice price increases is increasing the amount of time children work. Thus, household composition attributes that are associated with higher levels of child labor are also associated with larger declines in child labor with rice price increases. The results are consistent with girls particularly benefiting from product market integration because they work more than boys do. The results suggest that economic factors associated with economic reform may attenuate differences in the activities of siblings that are typically associated with cultural traditions and norms.

How Is the Liberalization of Food Markets Progressing? Market Integration and Transaction Costs in Subsistence Economies

Zant, Wouter
Fonte: Oxford University Press on behalf of the World Bank Publicador: Oxford University Press on behalf of the World Bank
Tipo: Journal Article; Publications & Research :: Journal Article
Português
Relevância na Pesquisa
66.31%
We propose a modification of Baulch's parity bounds model to measure the market integration of food markets in developing countries. Instead of extrapolating a single observation of transaction costs, we estimate transaction costs. Predicted transaction costs compare well with survey data of traders. Probabilities of market regimes, computed on the basis of predicted transaction costs, fluctuate significantly and do not support fixed regime probabilities over time. The probability of market integration with trade decreases consistently during food shortages, increasing either the probability of no trade or loss-making trade or the probability of profitable but unexploited trade opportunities. The data further support a negative trend in market integration with trade.

The Business Environment in Southern Africa : Issues in Trade and Market Integration - Summary

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Other Financial Sector Study
Português
Relevância na Pesquisa
66.45%
This report assesses some of the key barriers to greater trade and factor market integration in the Southern Africa Development Community (SADC). The SADC has been a free trade area since 2008, and has an ambitious agenda for further trade integration. This report assesses the roles that cross-country differences in business environments have had in impeding cross-border trade flows and the cross-border integration of credit markets and the labor market based on the analysis of microeconomic data on firms and households. The aim of the assessment is to help inform the policy and business environment harmonization agenda of the community. The full report discusses and illustrates the use of price data in monitoring intraregional trade integration. The report evaluates the extent of integration of labor markets among members the statistical agencies of which regularly collect the minimum data required for this purpose, which are South Africa, Mauritius, Tanzania, and Zambia. The results show that, although there is considerable integration of South Africa's labor market with many others in the region...

The Business Environment in Southern Africa : Issues in Trade and Market Integration - Full report

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Other Financial Sector Study
Português
Relevância na Pesquisa
66.45%
This report assesses some of the key barriers to greater trade and factor market integration in the Southern Africa Development Community (SADC). The SADC has been a free trade area since 2008, and has an ambitious agenda for further trade integration. This report assesses the roles that cross-country differences in business environments have had in impeding cross-border trade flows and the cross-border integration of credit markets and the labor market based on the analysis of microeconomic data on firms and households. The aim of the assessment is to help inform the policy and business environment harmonization agenda of the community. The full report discusses and illustrates the use of price data in monitoring intraregional trade integration. The report evaluates the extent of integration of labor markets among members the statistical agencies of which regularly collect the minimum data required for this purpose, which are South Africa, Mauritius, Tanzania, and Zambia. The results show that, although there is considerable integration of South Africa's labor market with many others in the region...

China : Integration of National Product and Factor Markets, Economic Benefits and Policy Recommendations

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: PSD, Privatization and Industrial Policy; Economic & Sector Work
Português
Relevância na Pesquisa
56.4%
Lack of market integration has been a long-standing concern in China. The existing empirical evidence on the degree and trend in local protectionism and market fragmentation, has painted a mixed picture - some concluding to increasing fragmentation, others pointing at increasing integration. This report uses a comprehensive set of survey data, and a provincial data set to examine the extent and trends in market fragmentation. It finds mixed results across the three key markets in product, labor and capital: Since the early 1990s, the product market is increasingly integrating, with converging prices across the country, and increasing regional specialization. The survey data suggests strongly that regional protectionism declined significantly over the past 10 years. The labor market, while getting more integrated over the reform period, still shows significant fragmentation across regions and across sectors. The remains of the hukou system, the limited access migrants have to social services, and the highly uneven quality of public services reinforce labor market segmentations. The capital markets still show large misallocations in capital across industries, and across China's regions. More significantly, the empirical evidence indicates that the degree of capital market fragmentation has actually increased in the 1990s compared to the 1980s. As China is moving towards a Xiaokang Society...

Market Integration, Efficiency, and Interconnectors: The Irish Single Electricity Market

Nepal, Rabindra; Jamasb, Tooraj
Fonte: Faculty of Economics Publicador: Faculty of Economics
Tipo: Working Paper; not applicable
Português
Relevância na Pesquisa
66.31%
Interconnections can be an effective way to increase competition in wholesale electricity markets in particular for smaller markets with few actors. This paper quantitatively examines the potentials for interconnections in the Irish Single Electricity Market (SEM). We use a time-varying Kalman filter technique to assess the degree of market integration between SEM and other large, mature and interconnected wholesale electricity markets in Europe. The results indicate a low degree of market integration between SEM and other European markets and thereby raising the possibility to benefit from increased electricity trade. As wholesale prices in SEM remain relatively high and volatile; a larger interconnector capacity can promote competition, close the gap with the European wholesale prices, improve security of supply, and mitigate price volatility. The results indicate that wholesale spot trading of renewable may not increase market integration. The results suggest that an interconnector capacity amounting to about 21% of generation capacity in SEM is likely to achieve an integration coefficient of 0.86 similar to what currently exists between the markets in Austria and the Netherlands.