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It most commonly refers to an index, called the Balassa index, introduced by Béla Balassa (1965). [1] In particular, the revealed comparative advantage of country c {\displaystyle c} in product/commodity/good p {\displaystyle p} is defined by:
The World Integrated Trade Solution (WITS) is a trade software provided by the World Bank for users to query several international trade databases.. WITS allows the user to query trade statistics (export, import, re-exports and re-imports) from the UN's repository of official international trade statistics and relevant analytical tables (UN COMTRADE), tariff and non-tariff measures data from ...
Similarly, if the economy starts out with a trade deficit and X - eM < 0, the elasticities have to add up to more than 1 for depreciation to improve the balance of trade, because the initial harmful price effect is bigger, so the quantity responses have to be bigger to compensate. Suppose initially the US exports 60 million tons of goods to ...
If GL i = 1, there is a good level of intra-industry trade. This means for example the Country in consideration Exports the same quantity of good i as much as it Imports. Conversely, if GL i = 0, there is no intra-industry trade at all.
Complementary goods exhibit a negative cross elasticity of demand: as the price of goods Y rises, the demand for good X falls.. In economics, a complementary good is a good whose appeal increases with the popularity of its complement.
The GEMPACK user specifies her model by constructing a text file listing model equations and variables, and showing how variables relate to value flows stored on an initial data file. GEMPACK translates this file into a computer program which solves the model, i.e., computes how model variables might change in response to an external shock.
Marginal Intra-Industry Trade, a concept originating in international economics, refers to the degree to which the change in a country's exports over a certain period of time are essentially of the same products as its change in imports over the same period.
The openness Index is an economic metric calculated as the ratio of a country's total trade, the sum of exports plus imports, to the country's gross domestic product. [ 1 ] = (Exports + Imports)/(Gross Domestic Product) [ 2 ]