Africa Trade:
Prusa, Thomas. "On the Spread and Impact of Antidumping," Digest, National Bureau of Economic Research, April 2000, summary of a paper. Antidumping has been enthusiastically embraced in recent years by developing countries and can perhaps be explained as retaliatory measures against leading industrial nations. However, there are significant costs to using AD. Once AD has been approved for one firm it becomes harder to restrain it's use in other sectors. In addition the overall value of trade declines. Len gth: 1 page. Level: General. Online-HTML
Kho, Bong-Chan and Rene Stulz. "Asian Crisis Hurt Banks Less than Was Thought," Digest, National Bureau of Economic Research, February 2000, summary of a paper. During the Asian crisis of 1997-98, the Asian banks were not harmed by the currency depreciati ons as much as popularly believed. By analyzing the relationship between banks and stock markets in the Asian countries, it is possible to conclude that the banking sector may not have been over-exposed to currency risk. Length: 1 page. Level: General. Online-HTML
Krugman, Paul. "Analytical Afterthoughts on the Asian Crisis," What's New, September 1999. In considering the Asian financial crisis, several policy proposals can be made: temporary capital controls may be helpful at averting a crisis, sterilization will likely not achieve its goals, and taxing or discouraging foreign currency denominated debt might help prevent speculative crises. Length: 8 pages. Level: Intermediate. Online-HTML
Krugman, Paul. "Tiger's Tale," Slate, November 1999. Hedge funds played a disproportionate role in the Asian financial crisis due to their willingness to take on excessive amounts of risk in emerging capital markets. The losses suffered by such fun ds have hopefully encouraged wiser decisions on the part of hedge fund managers in the future. Length: 8 pages. Level: General. Online-HTML
McKibbin, Warwick and Will Martin. "The East Asian Crisis: Investigating Causes and Policy Responses", February 1999. Examines various "shocks" to East Asian economies that may have caused the crisis. Length: 62 pages Level: intermediate Online-PDF
McKibbin, Warwick. "Heresey: Asian Flu Helps U.S." Journal of Commerce, April 3, 1998. Explains why the U.S. GDP may actually rise as a result of the Asian turmoil. Length: 2 pages Level: intermediate Online-HTML
Noland, Marcus, Sherman Robinson, and Zhi Wang. "The Continuing Asian Financial Crisis: Global Adjustment and Trade", Institute for International Economics Working Paper, No. 99-4, March 1999. Analyzes impact of the continuing Asian crisis, highlighting the implications of possible future developments in China and Japan. Yen depreciation would have an adverse effect on the rest of Asia, even if Japanese growth were restored. Length: 19 pages Level: intermediate Online-HTML
O'Driscoll, Gerald. "New Study Analyzes IMF Policy Failures in Asia", The Heritage Foundation News and Views, April 1, 1999. Claims that by creating an insurance policy to protect investors in the event that risky loans failed, the IMF encouraged risky loans. Length: 2 pages Level: general Online-HTML
Sachs, Jeffrey. "The IMF and the Asian Flu" The American Prospect no. 37 (March-April 1998): 16-21. Discusses how the IMF acted wrongly when dealing with the Asian crisis and how these actions have helped produce a panic throughout East Asia. Also explains what the IMF is and what it does. Level: general Length: 8 pages Online-HTML
Wolf, Charles Jr. "Asia Gets Back on Its Feet," Digest 1999, No. 4, The Hoover Institution, reprinted from the Los Angeles Times, April 25, 1999. Many of the Asian countries have shown remarkable resiliance in recovering from the 1997-98 financial crisis. The most successful countries have shown an ability to adapt to changing circumstances, and even nations still facing some problems, such as Japan and China, nonetheless exhibit overwhelmingly positive signs of growth. Length: 3 pages. Level: Gen eral. Online-HTML
Wolf, Charles Jr. "Asia's Dramatic Recovery," Weekly Essays, The Hoover Institution, June 5, 2000. Asia's impressive recovery from the 97-98 financial crisis should not reduce the need for continued sound economic policies which encourage stable investmen t, borrowing and currency practices. Length: 2 pages. Level: General. Online-HTML
Edwards, Sebastian et al. "Do Controls on Capital Inflows Work?" Digest, National Bureau of Economic Research, September 2000, summary of an article by Sebastian Edwards, Jose De Gregorio and Rodrigo Valdes. Capital controls in Chile affected only the co mposition of the flows - shifting more short-term capital into long-term accounts- without changing the overall amount. Other effects included a rise in the cost of capital, minimal effect on the intended depreciation of the currency, and higher costs to domestic firms and small-scale businesses. Length: 1 page. Level: General. Online-HTML
Eichengreen, Barry, Michael Mussa, Giovanni Dell'Ariccia, Enrica Detragiache, Gian Maria Milesi-Ferretti and Andrew Tweedie. "Liberalizing Capital Movements: Some Analytical Issues," Economic Issues No. 17, IMF, February 1999. Liberalized capital flows ar e inevitable for countries wishing to participate in the global economy. The disruptions caused by such flows are best mitigated through the presence of sequenced liberalization of controls accompanied by sound macro policies, strengthened domestic financ ial systems, and improved transparency. Length: 12 pages. Level: Intermediate. Online-HTML
Faux, Jeff. "Who's Japan Bashing Now?" Viewpoints, Economic Policy Institute, published in the Idaho Statesman, October 11, 1998. The U.S. government should stop blaming Japan's slow growth for the world's financial problems and do more to limit sp eculative investment flows that damage developing economies. Length: 2 pages.Level: General.Online-HTML
Hartwell, Christopher A. "The Case against Capital Controls Financial Flows, Crises, and the Flip Side of the Free-Trade Argument," Cato Policy Analysis No. 403, June 14, 2001, abstract, with link to 20-page paper. Lists several reasons why others favor capital controls, and gives his own reasons for opposing them. The abstract does not elaborate on these reasons, which are mainly that controls will be used for protectionist purposes. Length: 1 page. Level: General. Online-HTML
Hufbauer, Gary Clyde, and Erika Wada. "Hazards and Precautions: Tales of International Finance," Working Paper, Institute for International Economics, September 1999. Emerging markets should deal with financial crises first and foremost through reform of domestic financial institutions and liberalization. Yet in the event of a crisis, some controls on capital outflows are acceptable as this may do more to combat contagion. But in the long run, there is no substitute for exchange regime reform, effective s upervision, and banking sector competition to limit financial crisis contagion effects. Length: 33 pages. Level: Intermediate. Online-PDF
Krugman, Paul. "Capital Control Freaks," Slate, September 1999. Whatever one may think of Malaysian Prime Minister Mahathir Mohamad politically, his decision to use temporary capital controls may have helped Malaysia weather the Asian financial cri sis better. Length: 7 pages. Level: General. Online-HTML
Krugman, Paul. "Curfews on Capital: What are the Options?" What's New, October 1998. The debate over how to limit the effects of financial crises has illustrated the importance of some kind of controls to prevent speculative attacks. Proposals aimed at si mply providing a country with some kind of cooling off period do not go far enough in controlling outflows. Instead, some measure of controls such as surrender payments on export earnings may be needed. Length: 2 pages.Level: Intermediate.Online-HTML
Lee, Jang-Yung. "Sterilizing Capital Inflows," Economic Issues No. 7, IMF, 1997. Although classical sterilization operations can be effective for a time, the use of supplementary measures, including some indirect capital controls, may also be both desirab le and effective. The paper also finds that these measures are usually most effective when imposed in the less distorting form of a tax rather than in outright restrictions on the quantity of capital flows. Moreover, tax revenues raised can be helpful in offsetting some of the costs. Length: 13 pages. Level: Intermediate. Online-HTML
Rodrik, Dani and Andres Velasco. "Crises Increased by Excessive Short-Term Debt," Digest, National Bureau of Economic Research, March 2000, summary of a paper. The effect of capital controls has been widely debated by economists and can be characterized a s a trade-off between growth and stability. Yet in Chile and Malaysia, use of controls on short-term capital flows did little to impact overall growth. Length: 1 page. Level: General. Online-HTML
Thompson, Fred. "Balancing Trade and Security in the 21st Century," Lecture No. 656, The Heritage Foundation, March 17, 2000. The United States has been too lenient with respect to the security threat posed by China. A balance should be achieved between p romotion of trade and penalties for Chinese nuclear proliferation. Length: 8 pages. Level: General. Online-HTML
Zhang, Jialin. "An Assessment of Chinese Thinking on Trade Liberalization," Essays in Public Policy, The Hoover Institution, March 1997. China is recognizing the importance of open domestic markets and is working to reduce tariffs, attract foreign direct investment and acquire new technologies. China should not be reprimanded for not moving fast enough; rather, it should be recognized that countries develop at different rates. Length: 17 pages. Level: Intermediate. Online-HTML
Dorn, James. "Advancing Human Rights in China," Trade Policy Article, The Cato Institute, July 10, 1999. Granting China normal trade status would help promote legal reforms such as greater recognition of private ownership and stronger property rights.Leng th: 2 pages. Level: General. Online-HTML
Faux, Jeff. "The China trade debate," Viewpoints, Economic Policy Institute, published in The American Prospect, May 18, 2000. China should not be given PNTR status because it would reduce the chance of winning any labor or environmental protection s in future trade deals, it will increase the U.S.'s already large trade deficit with China, and it may not lead to an increase in democratic reforms in China. Length: 2 pages. Level: General. Online-HTML
Faux, Jeff. "Problems in China trade deal require additional protections," Viewpoints, Economic Policy Institute, published in The Detroit News, May 10, 2000. The proposed trade pact to grant China permanent normal trade relations is unacceptable d ue to the fact that there is no protection for labor or envronmental standards attached. Instead, the treaty contains elaborate provisions for insuring investors against any financial loss. Length: 2 pages. Level: General. Online-HTML
Griswold, Dan, Ned Graham, Robert Knapp & Nicholas Lardy. "Trade and the Transformation of China: The Case for Normal Trade Relations," Trade Briefing Paper No. 5, The Cato Institute, July 19, 1999. The Congress should vote to make normal trade relations with China permanent and the U.S. should drop demands for continued trade protectionist policies against Chinese exports. Length: 12 pages. Level: Intermediate. Online-HTML
Groombridge, Mark A. "China's Long March to a Market Economy: The Case for Permanent Normal Trade Relations with the People's Republic of China," Trade Policy Analysis No. 10, The Cato Institute, April 24, 2000. China should be granted PNTR by the U.S. si nce this will boost the reform movement in China and open markets for U.S. businesses. Furthermore, China will be subject to the WTO dispute resolution mechanism which will protect U.S. interests better than unilateral sanctions. Length: 21 pages. Level: Intermediate. Online-HTML
Hufbauer, Gary Clyde and Daniel H. Rosen. "American Access to China's Market: The Congressional Vote on PNTR," Policy Brief 00-3, Institute for International Economics, April 2000. PNTR for China is a good idea since the United States stands to gain a gre at deal while losing very little. Conversely, the costs of not approving PNTR include continued trade battles with China, no access to the WTO dispute settlement mechanism, no heightened safeguard protection against Chinese imports, and higher barriers to Chinese markets for American goods and services. This is especially damaging when considered in relation to Japanese and European firms which will enjoy significant competitive advantages by virtue of normal trade relations with China. Length: 25 pages. Level: Intermediate. Online-HTML
Lardy, Nicholas R. "China Trade Approval Would Aid U.S.," Opinion Piece, The Brookings Institute, published in Newsday, May 9, 2000. Granting China permanent normal trade relations would benefit both the U.S. business sector and efforts to promote democracy in China. Length: 2 pages.Level: General.Online-HTML
Lardy, Nicholas R. "Permanent Normal Trade Relations for China," Policy Brief #58, The Brookings Institute, May 2000. China should be granted permanent normal trade relations by the U.S. Congress. This will open up opportunities for U.S. firms and show support for the Chinese government which has been making efforts to liberalize. Length: 6 pages.Level: Intermediate. Online-HTML
Prestowitz, Clyde. "A Deal Even Trade Hawks Can Love," U.S. Trade Law Op-Ed, Economic Strategy Institute, published in The Wall Street Journal, May 23, 2000. The U.S. should extend Permanent Normal Trade Relations to China since this will equalize trade relations between the two nations and, under WTO law, require China to remove many protectionist measures against U.S. imports. Length: 2 pages. Level: General. Online-HTML
Scott, Robert E. "China PNTR: a lose-lose deal," Viewpoints, Economic Policy Institute, published in The Charleston Sunday Gazette, May 14, 2000. Granting China Permanent Normal Trade Relations would result in more manufacturing job losses in both the U.S. and China. By eliminating the annual review of China's trade status, the U.S. will be losing the last remaining measure of leverage it has to influence China's human rights protection. Length: 2 pages. Level: General. Online-HTML
Waldron, Arthur. "On Whether the United States Should Grant Permanent Normal Trade Relations to the People's Republic of China," Testimony, American Enterprise Institute, presented April 11, 2000. In order for the PRC to gain PNTR, the U.S. government should insist on a more moderate position from China with respect to the use of force and ratification of the major human rights conventions. Length: 3 pages. Level: General. Online-HTML
Yates, Stephen J. and Larry M. Wortzel. "How Trade with China Benefits Americans," Backgrounder, The Heritage Institute, May 5, 2000. The United States should grant permanent normal trade status to China in order to promote China's accession to the WTO, i mprove the rule of law in China, and facilitate dialogue with Taiwan. Length: 11 pages. Level: General. Online-HTML
Barfield, Claude E. and Mark A Groombridge. "Two Sides to China's Entry into the WTO," American Enterprise Institute - On the Issues, January 2000. This article says that Chinese entry to the WTO, and the provisions upon which it is contingent, hold a great deal of promise. There are certain things about it, however, that could be a bit better. Length: 3 pages. Level: General. Online-HTML
Bolton, John R. "China Trying to Politicize the WTO," Articles, American Enterprise Institute, published in the Taipei Times, August 7, 2000. China is insisting that Taiwan be declared part of China as part of the 1992 WTO accession process for the two nations. The United States should resist such efforts on the grounds that the WTO is simply a forum for trade issues and that including politically sensitive issues will open the door for a host of additional controversial topics such as labor and en vironmental standards. Length: 2 pages. Level: General. Online-HTML
Karatnycky, Adrian. "Trade Alone Won't Do It," Commentary, Freedom House, published in The Washington Post, May 30, 2000. The U.S. should take more steps to promote democracy in China, such as public diplomacy initiatives and increasing the flow of information. This will do more to spread democratic values than simply liberalized trade. Length: 2 pages. Level: General. Online-HTML
Lardy, Nicholas R., "CHINA and the WTO," Brookings Policy Brief No. 10, Nov 96. Argues the need for getting China into the WTO. Online
Lardy, Nicholas R. "China's WTO Membership", Brookings Institute Policy Brief, No. 47, April 1999. U.S. policymakers should push for an agreement that would let China into the WTO. An agreement would strengthen the WTO, increase access for U.S. goods in China, and provide China with a fixed timetable for fully opening its markets. Length: 8 pages Level: general Online-HTML
Sanger, David E. "From Trust Busters to Trust Trusters" New York Times, 12-6-98. Discusses the fact that Washington doesn't seem to be concerned about large mergers anymore. Reasons listed are that the economy is good, politicians don't want to challenge the people with big money, and that we need different things today to compete in a global economy. Length: 3 pages Level: general Online-HTML
Bhagwati, Jagdish. "Crony Capitalism: Rent-creating versus Profit-Sharing Corruption," Recent Papers, February 2000. Rent-creating corruption can be viewed as detrimental to the overall economic efficiency of a country. Profit-sharing does not affect over all efficiency but instead increases incentive for tax evasion, which de-legitimizes the political system and reduces the provision of government services. Length: 5 pages. Level: General. Online-PDF
Davoodi, Hamid and Vito Tanzi. "Roads to Nowhere: How Corruption in Public Investment Hurts Growth," Economic Issues No. 12, IMF, 1998. High public spending on capital intensive projects may actually hurt growth in countries where high levels of corruptio n render these projects unproductive in the long run. Corruption actually leads to public investment that is not supported by nonwage expenditure on operation and maintenance, reduces the quality of public infrastructure, and decreases government revenues needed to finance productive spending. Length: 7 pages. Level: Intermediate. Online-HTML
Wei, Shang-Jin. "Corruption Deters Foreign Investment," Digest, National Bureau of Economic Research, October 1997, summary of a paper. Corruption in some countries can be on a par with a tax rate of approximately 20 percent, prompting many investors to s tay away. As an example, investors from major source countries have shied away from China, which offers high potential returns but suffers from high corruption. Length: 1 page. Level: General. Online-HTML
Krugman, Paul. "Enemies of the WTO," Slate, November 1999. Opponents of the WTO claim that it reduces cultural diversity around the world. In reality, modernization acheived through more open trade policies is a choice most people would prefer over traditional lifestyles. Length: 7 pages. Level: General. Online-HTML
Diamond, Larry. "Compassionate Conditionality for Africa," Weekly Essays, The Hoover Institution, July 24 - 31, 2000. A plan is proposed by which African countries could obtain debt relief conditional on the imposition of successful, long-lasting reforms aimed at strengthening the rule of law, reducing corruption and promoting good governance. Length: 2 pages. Level: General. Online-HTML
Faux, Jeff. "Debt: Just forget it," Viewpoints, Economic Policy Institute, published in The Nation, November 22, 1999. The United States is the world's largest debtor yet it refuses to forgive the debt owed by some of the world's poorest countries to the IMF. Length: 2 pages. Level: General. Online-HTML
Krueger, Anne and T.N. Srinivasan, "The Harsh Consequences of Forgiveness," Financial Times, Aug 9, 2000, p. 11. Argues that moves to forgive the debts of the heavily indebted poor countries are misplaced for several reasons, and that it would be much better to target new aid that will do the poor in all poor countries, not just the indebted ones, some good. Length: 2 pages Level: general Online-HTML
Sachs, Jeffrey D. "What $8 a Year Could Do for Africa," Op-Ed, Kennedy School of Government, reprinted from the Washington Post, May 23, 2000. African countries are critically short on resources with which to fight diseases such as maleria, tubercu losis, and AIDS. The developed countries should forgive debt owed by such nations and increase contributions in order to get public health facilities operating and modernized. Length: 2 pages. Level: General. Online-HTML
Sachs, Jeffrey, Kwesi Botchwey, Maciej Cuchra, and Sara Sievers. "Implementing Debt Relief for the HIPCs," CID Policy Papers, Kennedy School of Government, August 1999. The Cologne Initiative does not go far enough in adressing debt relief for Heavily Inde bted Poor Countries. Most importantly, the existing debt service system does not allow countries to utilize resource transfers to adequately meet basic social needs in areas like health and education. Future debt relief proposals should involve cancellati on of outstanding debts while ensuring future resource inflows to enable countries to meet basic social needs. Length: 23 pages. Level: Intermediate. Online-PDF
Morici, Peter. "Fair Play and the WTO," WTO and GATT Op-Ed, Economic Strategy Institute, October 21, 1999. The WTO must eliminate special and differential treatment for the developing nations and instead focus on dismantling crony mercantilist structures and anti-competitive practices around the world. Length: 2 pages. Level: General.Online-HTML
Froning, Denise H. and Aaron Schavey. "Breaking up a Triple Play on Poor Countries: Changing U.S. Policy in Trade, Aid and Debt Relief," Backgrounder No. 1359, The Heritage Foundation, April 13, 2000. If the United States is truly interested in promoting economic growth worldwide it should lower tariffs and quotas in the textiles and apparel sector, pursue implementation of the Agreement on Textiles and Clothing, and condition debt forgiveness on pledges not to pursue further assistance. Length: 12 pages. Level: Intermediate. Online-HTML
Mayer, Jorg. "Globalization, Technology Transfer and Skill Accumulation in Low-Income Countries," Discussion Paper No. 150 (summary only), UNCTAD, August 2000. To raise the benefits reaped from globalization, governments might need to make additional effo rts towards a simultaneous increase in technology imports and the skill level of the domestic labour force. Length: 1 page. Level: General. Online-HTML
Muravchik, Joshua. "Living in a Material World," Articles, American Enterprise Institute, published in The Washington Post, October 10, 1999. Amartya Sen's latest book covering economic development in the Third World contributes little to the current academic quest to link freedom with development and is often confusing and difficult to follow.Length: 2 pages. Level: General.Online-HTML
Outreville, J. Francois. "Financial Development, Human Capital and Political Stability," Discussion Paper No. 142 (summary only), UNCTAD, October 1999. Human capital and socio-political stability are important factors explaining the level of financial dev elopment of developing countries. Length: 1 page. Level: General. Online-HTML
Sachs, Jeffrey. "Helping the world's poorest," CID Policy Papers, Kennedy School of Government, August 14, 1999. Deteriorating health conditions and extreme poverty in many of the world's poorest countries are unacceptable in light of the significant adva nces being made in global science and technology. Policy remedies must arise from an alliance of developed and developing countries and must mobilize science and technology to solve poor-country problems. To achieve these goals, more serious consideration as to long-term financing of necessary public goods in poor countries must be entertained by the rich countries. Length: 8 pages. Level: Intermediate. Online-HTML
Samida, Peter. "May 2000 Fraser Forum: Trade and Tariff Tall Tales," Forum, The Fraser Institute, May 2000. A study disproves the idea that protectionism was beneficial for the early development of the American economy. Tariffs only made capital more expe nsive and encouraged unproductive industries. Length: 3 pages. Level: General. Online-HTML
Barro, Robert J. "From Seattle to Santiago, Let the Dollar Reign," Digest 1999 No. 3, The Hoover Institution, reprinted from the Wall Street Journal, March 8, 1999. Dollar based, monetary integration would make sense because it would remove the ris k of currency devaluations in many countries and reduce the likelihood that the United States would have to function as a lender of last resort. Length: 5 pages. Level: General. Online-HTML
Berg, Andrew and Eduardo Borensztein, "Full Dollarization: The Pros and Cons," Economic Issues, No. 24, International Monetary Fund, December 2000. This is a rather detailed treatment of the issues surrounding dollarization, based upon research in a pair of IMF working papers. Length: 15 pages. Level: intermediate. Online-HTML
Dornbusch, Rudi. "Millenium Resolution: No More Funny Money," Editorials, published in the Financial Times, January 3, 2000. Emerging market economies would be well advised to stabilize their asset markets by surrendering weak currencies and adopti ng major ones such as the dollar and euro. Length: 3 pages. Level: General. Online-HTML
Leddet, Joseph, "There's No Need for Small Currencies," Wall Street Journal Feb 9, 1999. Argues that most currencies should be abandoned and their countries should adopt one of the major ones -- the dollar, euro, or yen -- as their own. Length: 2 pages Level: general Online-HTML (Proquest, avialable via U of M)
Barfield, Claude E. "Safeguards vs. Antidumping Protection: Lessons from the Steel 'Crisis'," On the Issues, American Enterprise Institute, June 1999. If the US government decides to protect the steel industry from the recent flood of low cost imports, it should opt for safeguards rather than anti-dumping actions which might be more disruptive to market competition. Length: 5 pages. Level: General. Online-HTML
Barfield, Claude. "Steel: Use Safeguards Clause," Articles, American Enterprise Institute, published in the Journal of Commerce, March 4, 1999. Temporary safeguards for the steel industry are preferable to anti-dumping duties. Safeguards are more flexible and, compared to anti-dumping duties, less likely to induce trade parteners to impose protectionist regulations of their own. Length: 2 pages. Level: General.Online-HTML
Crandall, Robert W. "Whistling Past Big Steel's Graveyard", Brookings Institute Opinion Piece, originally appeared in Wall Street Journal, March 19, 1999. Claims that the anti-dumping legislation regarding foreign steel will not help the U.S. steel industry, whose primary threat is not imports, but smaller American companies. Length: 3 pages Level: general Online-HTML
Dumler, Christopher M. "Anti-Dumping Laws Trash Supercomputer Competition", Briefing Paper No. 32, CATO Institute, October 14, 1997. Claims that our anti-dumping laws punish consumers and penalize foreign companies trying to compete in the U.S. market. Uses the dumping charge against Japanese supercomputer makers to illustrate his point. Length: 9 pages Level: general Online-HTML
Griswold, Daniel T. "Industry Sets Steel Trap for U.S. Economy", Cato Center for Trade Policy Studies Articles, October 23, 1998. Claims that the "Stand Up for Steel" campaign, like our other anti-dumping efforts, is nothing but a protectionist club for industries feeling the heat of global price competition. These laws hurt consumers and industries that use steel. Length: 2 pages Level: general Online-HTML
Hindley, Brian and Patrick A. Messerlin. "Antidumping Industrial Policy: Legalized Protection in the WTO and What to Do About It" American Enterprise Institute, Book Summary, January, 1997. Summary describes what dumping is, and discusses common misconceptions behind antidumping policies and ways to reform antidumping regulations. Length: 3 pages Level: general Online-HTML
Lindsey, Brink. "Anti-dumping law is discriminatory," Trade Policy Article, The Cato Institute, November 12, 1999. The U.S. anti-dumping law must be reformed to take into account only those cases which represent legitimate price discrimination and below-c ost sales. In addition, the Department of Commerce must make some changes to the methodology it currently uses to determine foreign, market-distorting practices. Length: 2 pages. Level: General.Online-HTML
Lindsey, Brink. "Freedom to Trade: Trade Policy in the Dumps", Regulation, Volume 21, No. 3, 1998. Editorial explores negative aspects of American anti-dumping laws. Length: 1 page Level: general Online-PDF
Lindsey, Brink. "The U.S. Antidumping Law: Rhetoric versus Reality," Trade Policy Analysis No. 7, August 16, 1999. In a review of alleged country-specific dumping cases, the author finds that the methodology used for measuring dumping is not based on whet her sales are actually below cost. Furthermore, many U.S. firms use similar practices, which are in accordance with normal business practice. Length: 31 pages. Level: Intermediate.Online-HTML
Lukas, Aaron. "A Rotten Tomato Deal at Commerce", Cato Center for Trade Policy Studies Articles, September 10, 1998, originally appeared in the Washington Times. Explains why an anti-dumping law for Mexican tomato imports is unfair to U.S. consumers. Length: 2 pages Level: general Online-HTML
Lukas, Aaron. "Anti-Dumping Law Doesn't Compute", Cato Center for Trade Policy Studies article, May 13, 1999, originally appeared in the Investor's Business Daily. U.S. anti-dumping laws are biased against foreign companies and should be scrapped or reformed. Length: 2 pages Level: general Online-HTML
Mastel, Greg. "Don't Jump to Dump Antidumping Duties", Economic Strategy Institute op-ed, originally appeared in the Oregonian, October 16, 1998. Explains how anti-dumping laws help protect certain industries in Portland, Oregon. Length: 2 pages Level: general Online-HTML
Mastel, Greg. "Existing Antidumping Laws Serve Vital Purpose In Aiding U.S. Steel Industry", Economic Strategy Institute op-ed, originally appeared in the Salt Lake Tribune, October 18, 1998. Antidumping policies should be used to block predatory foreign companies. Length: 2 pages Level: general Online-HTML
Mastel, Greg. "Slapping Duties on Unfairly Priced Items Protects Free Market", Economic Strategy Institute op-ed, originally appeared in the Detroit News, October 22, 1998. Makes a case in favor of U.S. anti-dumping laws. Length: 2 pages Level: general Online-HTML
Mastel, Greg. "Just Use the Escape Clause?" U.S. Trade Law Op-Ed, Economic Strategy Institute, published in The Journal of Commerce, April 8, 1999. Section 201 of U.S. Trade Law should be strengthened to protect U.S. companies from problems arising from fairly traded imports. However, this will not protect against problems stemming from unfair trading tactics of foreign governments, and other measures are still appropriate in this case.,Length: 3 pages. Level: General.,Online-HTML
Dornbusch, Rudi. "Euro Troubles," Editorials, May 2000. The slide of the Euro's value should not be cause for alarm just yet. Instead, European monetary authorities should let the markets continue to value the currency as opposed to enacting potentially h armful intervention. Length: 2 pages. Level: General. Online-HTML
Dornbusch, Rudi. "Fiscal Aspects of Monetary Integration", paper, January 1997 Discusses the impact that the individual debts of the EU countries will affect the EU as a whole when a common currency is adopted. Length: 3 pages Level: intermediate Online-PDF
Faux, Jeff. "The Euro, the Dollar, and Their Impact on Global Manufacturing," Viewpoints, Economic Policy Institute, speech delivered at a meeting of the International Metalworkers Federation meeting in Helsinki, Finland, June 24, 1999. The introduction o f the euro will benefit manufacturers if European governments work to make the euro a strong alternative to the dollar and thereby spur growth in Europe equal to that in the U.S. Length: 5 pages. Level: General. Online-HTML
Gedmin, Jeffrey. "Euro More about Politics Than Money," Articles, American Enterprise Institute, appeared in the United Press International wire services, September 28, 2000. The debate over the euro must be viewed in terms of the impact it will ha ve on Europe's political framework. Further European integration could lead to creation of a centralized "financial superstate" which would pose considerable challenges for political unity and economic efficiency. Length: 3 pages. Level: General.Online-HTML
Kregal, Jan A. "Can European Banks Survive a Unified Currency in a Nationally Segmented Capital Market?" Working Paper No. 305, The Jerome Levy Economics Institute, July 2000. The euro was expected to become a substitute for the U.S. dollar as an internat ional currency. However, compromises made during its creation make it a less than perfect substitute in the medium term. This now prevents the creation of a unified capital market and places EU banks at a disadvantage when competing with U.S. banks in glo bal markets. Length: 17 pages. Level: Advanced. Online-HTML
Krugman, Paul. "The Euro: Beware of What You Wish For," Fortune, December 1998. The early prognosis for European Monetary Union was that an inevitable conflict would develop between those governments favoring employment and growth creation policies against those countries favoring price control at any costs. But the conflict materialized in a different way, pitting the unemployment fighting European governments against the European Central Bank which still favors higher interest rates. Length: 4 p ages. Level: General. Online-HTML
Krugman, Paul. "The Euro, Living Dangerously," What's New, June 1999. European Central Bankers are increasingly concerned about the euro's slide against the dollar. This makes it harder for the ECB to pursue a rational monetary policy. Length: 2 pages. Le vel: General. Online-HTML
Krugman, Paul. "Heaven is a weak Euro," What's New, June 1999. The expectation that the European Central Bank will intervene to maintain the euro exchange rate has contributed to the unpredictable fluctuations of the currency and will make any future mone tary support difficult to implement by the European authorities. Length: 3 pages. Level: General. Online-HTML
McKibbin, Warwick J. with Thomas Bok. "Which Monetary Regime for Europe? A Quantitative Evaluation", September 1998. Provides a quantitative analysis of three alternative monetary regimes for Europe. Length: 49 pages Level: intermediate Online-PDF
Solomon, Robert. "International Effects of the Euro" Brookings Institution, Policy Brief #42, January 1999. Covers how the euro will come into use, effects it will have on trade, its exchange rate, and its role in private, external balances. Length: 7 pages Level: intermediate Online-HTML
Wattenberg, Ben. "Counting Change in Euroland," American Enterprise Institute - On the Issues, February 1999. This article says that the Euro is good for America - that the unification of Europe will lead to peace, and that it will not result in as much economic competition for the dollar as was originally anticipated. Length: 2 pages. Level: General. Online-HTML
Dornbusch, Rudi. "European Union Enlargement," Editorials, August 2000. In order to effectively integrate the East and Central European economies, the European Union should reduce industry subsidies to member states and promote deregulation of labor marke ts and a reduction in the welfare state system. This will make eventual enlargement much less costly and more beneficial to the East Europeans. Length: 2 pages. Level: General. Online-HTML
Ghosh, Atish R., Anne-Marie Gulde, Jonathan D. Ostry and Holger C. Wolf. "Does the Exchange Rate Regime Matter for Inflation and Growth?" Economic Issues No. 2, IMF, 1996. When discussing choice of exchange rate regime, it is useful for countries to consi der not only fixed vs. floating rates, but also the wide variety of managed exchange rate systems. Empirical evidence suggests that no regime is likely to serve all countries at all times. Length: 12 pages. Level: Intermediate. Online-HTML
Krugman, Paul. "The Eternal Triangle," Whats New, October 1998. Most of the major industrial nations have opted for financial liquidity and the ability to use macro- adjustment policies at the expense of exchange rate stability. By contrast, developing na tions are faced with the need to prevent foreign currency debt and speculative attacks, forcing them to make a painful choice between either adjustment policy or capital liquidity. Length: 5 pages.Level: Intermediate.Online-HTML
Krugman, Paul. "Monomoney Mania," Slate, April 15, 1999. The risk of asymetric shocks makes it illogical for two dissimilar countries to adopt the same currency despite the advantages which could be gained from a more stable exchange rate. Length: 7 pages. Level: General. Online-HTML
Makin, John H. "Exchange Rate Stability in International Finance," American Enterprise Institute - Testimony, May 21, 1999. Talks about why flexible exchange rates are favorable to fixed rates when dealing with different economies and the need for differing monetary policies. Length: 4 pages. Level: General. Online-HTML
Velasco, Andres. "Exchange-Rate Policies for Developing Countries: What have we learned? What do we still not know?" G-24 Discussion Paper No. 5, UNCTAD, June 2000. This paper argues that, while currency boards or even dollarization may be justified in so me extreme cases, they are not appropriate for all developing countries. Floating an exchange rate appears to be slightly more beneficial than fixing a rate, but any exchange-rate regime, and especially one of flexible rates, requires complementary polici es - such as capital controls or stronger prudential regulation - to increase its chances of success. Length: 1 page. Level: General. Online-HTML
Williamson, John. "Crawling Bands or Monitoring Bands: How to Manage Exchange Rates in a World of Capital Mobility," Policy Brief 99-3, Institute for International Economics, February 1999. Floating rates should be rejected because of the extreme weakness of the economic mechanism that holds the exchange rate close to a level consistent with the fundamentals. Instead, countries ought to weigh the costs and benefits of a crawling band vs. currency board, using floating rates only as a last resort. Length: 15 pages. Level: Intermediate. Online-HTML
Faux, Jeff. "Fast Track and the Global Economy", Policy Brief No. 123, Economic Policy Institute, November 4, 1997. Cautions against the U.S. jumping into a global economy because not all countries have economies as efficient as our own. Uses Asia and Mexico as examples. Length: 2 pages Level: general Online-HTML
Faux, Jeff. "Fast Track Will Not Help Economic Recovery, National Unity", EPI President's Letter to Congressional Leaders, September 26, 2001. Argues against fast track, based on growing trade deficit, adverse effects of previous trade agreements, and growing world poverty. Length: 4 pages Level: general Online-HTML
Kusnet, David & Robert E. Scott. "Fast Track: Why Now?" Viewpoints, Economic Policy Institute, published in the Ft. Myers News-Press, October 5, 1998. Congress should not grant the President "Fast Track" trade negotiating power that does not includ e freedom to negotiate labor and environmental standards. Length: 2 pages.Level: General.Online-HTML
Sweeney, John. "Fast-Track Negotiating Authority: The Facts," Trade, The Heritage Foundation, August 26, 1998. The President should be granted fast-track negotiating power since this has proven to effectively open many markets to U.S. exports, does not in fringe on the power of Congress to regulate trade, represents a bipartisan initiative, and will strengthen the American economy domestically. Length: 3 pages. Level: General. Online-HTML
Sweeney, John. "Why Free Trade Matters to the American Farmer," Backgrounder No. 1233, The Heritage Foundation, November 6, 1998. Without fast track negotiating authority, the President will not have the ability to negotiate free trade agreements that wou ld open overseas markets for American farmers. Length: 8 pages. Level: Intermediate. Online-HTML
Akyuz, Yilmaz and Andrew Cornford. "Capital Flows to Developing Countries and the Reform of the International Financial System," Discussion Paper No. 143 (summary only), UNCTAD, November 1999. In light of the recent financial crises, this paper examines t he proposals for remedying the structural and institutional weaknesses in the global financial architecture through such means as greater transparency and disclosure, strengthened financial regulation and supervision, and bailing in the private sector by arrangements for orderly debt workouts. The paper stresses the importance for developing countries of maintaining autonomous policies towards capital movements. Length: 1 page. Level: General. Online-HTML
Frankel, Jeffrey A. "The International Financial Architecture," Brookings Institute - Policy Brief #51, June 1999. This article considers the uses of different exchange rate regimes in light of a country's political and economic conditions. Length: 7 pages. Level: Intermediate. Online-HTML
Mayer, Martin. "Risk Reduction in the New Financial Architecture," Public Policy Brief No. 56, The Jerome Levy Economics Institute, 1999. The liberalization of the global financial system has brought with it the need for greater control of destabilizing i ncome streams. Most proposals for greater bank transparency do not take into account the fact that the more important sources of financial instability are the technologically driven financial markets. Thus, efforts to prevent future crises should include reforms aimed at controlling capital flows during a crisis until the system is stabilized. Length: 53 pages. Level: Intermediate. Online-HTML
Montrone, Paul M. "Blueprints for a New Global Financial Architecture", speech, October 7, 1998. Discusses weakness of the current global financial structure and proposes solutions to these weaknesses. Solutions include redesigning rules governing domestic bank safety nets, lending by the IMF, international competition in banking, global capital flows, and government debt management policies. Length: 25 pages Level: intermediate Online-HTML
Krugman, Paul. "Heresy Time," What's New, October 1998. Some policies being employed by the emerging markets to dig themselves out of recession run contrary to traditional economic fundamentals in order to allow the financial markets free reign. This is w orrying since it indicates a tendancy on the part of economists and policy-makers to rationalize failure instead of asking what policies would be practical and responsible. Length: 3 pages. Level: General. Online-HTML
Kruman, Paul. "Is the Economic Crisis a Crisis for Economics?" Slate, November 1998. The current macroeconomic crises are rooted in the fluctuations of the business cycle and the in- and outflows of financial capital. This makes traditional solutio ns to these problems almost irrelevant since nations are unable or unwilling to use monetary and fiscal policy which might hurt capital flows. Length: 6 pages. Level: General. Online-HTML
Krugman, Paul. "A Monetary Fable," What's New, February 1999. The recent financial crises in Latin America and Asia highlight the difficulties emerging markets face in choosing an exchange rate regime. Increasing speculation by investors has made it impos sible for countries to ensure the stability of smaller currencies. Yet the costs of giving up monetary policy in order to adopt a stronger currency are prohibitive. Length: 2 pages. Level: General. Onlin e-HTML
Tornell, Aaron. "Common Elements in Financial Crises," Digest, National Bureau of Economic Research, October 1999, summary of a paper. The most common elements in a financial crisis include a country with low cash reserves to defend their currency, a weak banking system, and a history of currency appreciation. In addition, a certain amount of herd behavior or "positive feedback buying" on the part of international investors can be found to motivate such crises. Length: 1 page. Level: General. Online-HTML
Ferguson, Governor Roger W. Jr., "Global Financial Integration: Historical Perspective and Policy Implications", Annual Policy Seminar of the National Association for Business Economics, Washington D.C, March 3, 1999. Fed governor discusses lessons that can be learned from the pre-World War I economy. Length: 6 pages Level: intermediate Online-HTML
Samida, Dexter. "A Hand Out Instead of a Hand Up: Where Foreign Aid Fails," Source Paper, The Fraser Institute. Policy makers should take a closer look at how effective foreign aid programs are at promoting economic freedom and growth. The developed world should cut back on aid to countries with low levels of economic and political freedom, eliminate tarrifs, subsides and other trade barriers, and promote the role of voluntary organizations for distribution of aid and services in recipient countries. Leng th: 11 pages. Level: Intermediate. Online-HTML
Griswold, Daniel T. "Sen Hollings Aims at Germany, Hits U.S." Trade Policy Articles, The Cato Institute, September 11, 2000. The Hollings amendment to restrict foreign investment in U.S. telecommunications firms would eliminate a review process that is al ready too restrictive and replace it with a flat ban that allows no discretion, no matter how benign the deal or how friendly the foreign government involved. In fact, such investment should be encouraged, as it creates jobs for American workers, lowers p rices for consumers, and benefits company shareholders by injecting fresh capital into company operations. Length: 2 pages. Level: General. Online-HTML
Lipsey, Robert. "Direct Investment is a Steady Source of Foreign Capital," Digest, National Bureau of Economic Research, October 1999, summary of a paper. In the 1990's the European Union was the leading source of foreign direct investment, trailed by the United States, Japan and the East Asian "Tigers." In the EU, this is matched by heavy intra-European investment, while the U.S. also recieved a significant inflow. Latin America and developing Asia have been the largest recipients of net inflows from for eign countries. Length: 1 page. Level: General. Online-HTML
Lipsey, Robert. "Foreign Direct Investment Changes Ownership, not Location," Digest, National Bureau of Economic Research, November 2000, summary of a paper. If FDI transfers assets and production from less efficient to more efficient owners and managers, then FDI can be viewed in recipient countries as freeing capital frozen in industries that owners (including governments) would like to leave. It permits the owners to use their capital in what they consider more appropriate ways, at home or abroad. In i nvesting countries, outward FDI permits the country's firms to better exploit their skills and technological advantages. Length: 1 page. Level: General. Online-HTML
Bovard, James. "The Myth of Fair Trade" Cato Policy Analysis No. 164, November 1, 1991. Claims that many trade barriers, especially anti-dumping laws, hurt American consumers and foreign companies. Length: 27 pages Level: general Online-HTML
Chimerine, Lawrence. "Two-Way Trade vs. One-Way Trade", Economic Strategy Institute Op-Ed Page, originally appeared in Journal of Commerce, March 19, 1999. Advocates two-way free trade and discourages the U.S. from implementing protectionist trade policies. Length: 2 pages Level: general Online-HTML
Franklin, Barbara Hackman. "Global Trade: 10 Steps to Reclaiming U.S. Leadership," Lecture No. 679, The Heritage Foundation, August 8, 2000. The world economy is becoming an increasingly difficult environment in which to implement effective leadership. Ne w strategies for the U.S. should center on promoting free market discipline and opportunities while allaying the fears and concerns of those countries which might be left behind. Length: 8 pages. Level: Intermediate. Online-HTML
Franklin, Barbara Hackman. "Restoring U.S. Leadership on Trade," Views, The Heritage Foundation, published in Investor's Business Daily. The U.S. needs to take steps to restore credibility and leadership on trade issues. Some of these steps include restoring fast-track authority, stop insisting that trade agreements include labor and environmental standards, push for regional free trade areas, and support China's entry into the WTO. Length: 3 pages. Level: General. Online-HTML
Froning, Denise. "Why Spurn Free Trade?" Views, The Heritage Foundation, published in The Washington Times, September 15, 2000. Free trade has actually been proven to benefit low income classes as much, if not more than, the upper classes. Examples include El Salvador and Taiwan, both of which have liberalized trade regimes and instituted free market reforms, and now enjoy prosperity comparable to many developed nations. Length: 3 pages. Level: General. Online-HTML
Froning, Denise H. "The Benefits of Free Trade: A Guide for Policymakers," Backgrounder No. 1391, The Heritage Foundation, August 25, 2000. Benefits of free trade include the promotion of innovation and competition, the generation of economic growth, the dissemination of democratic values, and greater economic freedom such as stronger property rights and free market reforms. Length: 14 pages. Level: Intermediate. Online-HTML
Glassman, James K. "The Blessings of Free Trade," Trade Policy Briefing Paper #1, The Cato Institute, February 23, 1998. The U.S. should immediately end all trade negotiations and eliminate trade barriers. This will prompt other countries of the world to follow suit. Length: 6 pages. Level: General.Online-HTML
Glassman, James K. "Stand Up For Free Trade," On the Issues, American Enterprise Institute, November 1998. As the U.S. economy slows down, demands for protection from foreign competition should not be met. Meeting these demands would plunge the world into a deep recession. Discusses positive aspects of free trade. Length: 2 pages Level: general Online-HTML
Irwin, Douglas A. "Against the Tide: An Intellectual History of Free Trade" American Enterprise Institute, Book Summary, July 1996. Summary covers beliefs against free trade prior to Adam Smith's "Wealth of Nations", Adam Smith's case for free trade, and arguments against free trade that emerged after Smith's "Wealth of Nations". Length: 4 pages Level: intermediate Online-HTML
Law, Marc. "In Defense of Free Trade," Forum, The Fraser Institute, March 1998. Opponents of free trade ignore the idea of comparative advantage. Protectionist measures may save a few domestic jobs, but they will hurt a much larger group of consumers forc ed to pay higher prices. Length: 2 pages. Level: General.Online-HTML
Lindsey, Brink. "Free Trade Nationalism" Cato Center for Trade Policy Studies Articles, November 2, 1998, originally appeared in Weekly Standard. Explains why many U.S. conservatives are moving away from free trade and embracing more trade barriers and even outright protectionism. Length: 5 pages Level: intermediate Online-HTML
Lindsey, Brink. "Kick Me, I'm for Free Trade," Trade Policy Article, The Cato Institute, February 22, 2000. Free-trade advocates need to change their strategy from touting the value of free trade to American companies to focus on the benefits free trade c an provide domestically for consumers. The emphasis should shift to opening home markets without complex trade negotiations that often result in more restrictions. Length: 2 pages. Level: General. Online-HTML
Lindsey, Brink. "A New Track for U.S. Trade Policy," Trade Policy Analysis No. 4, September 11, 1998. Proponents of free trade should shift their focus from a diversion-and-appeasement strategy to complete removal of all trade barriers. Continuing to rely on the notion of "fair trade" established through complex negotiations and trade policies is outdated and must be abandoned in favor of a new, more open "free trade" regime. Length: 25 pages. Level: Intermediate. Online-HTML
Lizza, Ryan. "Silent Partner: The Man Behind the Anti-Free-Trade Revolt," The New Republic, January 10, 2000. This article discusses the political and economic impact of conservative Roger Milliken's anti-free-trade persuasion. Length: 10 pages. Level: General. Online-HTML
Sweeney, John. "Why Free Trade Matters to the American Farmer", Heritage Foundation Backgrounder, No. 1233, November 6, 1998. Record harvests, worldwide grain surpluses, and slumping demand in Asia have driven U.S. agriculture commodities to their lowest prices in decades. The only way to guarantee the economic stability of U.S. agriculture is to expand the access of American farmers to overseas markets. Length: 29 pages Level: general Online-HTML
Schulz, Evan. "Identifying Modified Food without Scaring Consumers," U.S. Economy Op-Ed, Economic Strategy Institute, published in Bridge News, July 13, 2000. A system of voluntary labeling for food products would provide activists with enough info rmation to purchase food safely without unfairly implicating genetically modified products which have not been proven harmful. Length: 2 pages. Level: General. Online-HTML
Griswold, Daniel T. and Ian Vasquez. "A Global Intervention Crisis" Cato Center for Trade Policy Studies Articles, November 11, 1998. Originally appeared in Journal of Commerce. The world's current economic troubles are not a failure of free markets, but of bad policy. Length: 3 pages Level: intermediate Online-HTML
Lindsey, Lawrence B. "The Best Insurance Against Global Recession" from AEI On the Issues, the journal of the American Enterprise Institute for Public Policy Research, January 1999. The economic excess building up in the U.S. economy tends to be self-correcting. Should our economy lose momentum and import less, chances of a global recession would increase dramatically. Discusses the need for either a monetary or fiscal economic insurance policy. Length: 3 pages Level: intermediate Online-HTML
Palley, Thomas I. "Goodbye Washington Consensus, Hello Main Street Alternative" Financial Markets Center Article. Claims that the recent economic crises in East Asia and Brazil have forced open high levels of debate regarding the future course of globalization. Discusses some alternatives to current policies. Length: 3 pages Level: general Online-HTML
Finlayson, Jock, "Globalization Myths," Fraser Forum, March, 2001. This primarily disputes the notion that globalization causes a race to the bottom in wages, labor standards, and environmental conditions. It notes that these conditions tend to be better in globalized economies, and that most FDI is into countries with high standards, not low ones. Length: 4 pages. Level: General. Online-HTML
Griswold, Daniel T. "The Blessings and Challenges of Globalization," Trade Policy Articles, The Cato Institute, September 1, 2000. The spread of globalization offers greater economic growth, alleviates poverty and promotes the spread of democracy. Further more, evidence shows that globalization, by increasing overall prosperity, induces greater attention to improving environmental standards. And claims that the growing gap between rich and poor is purely a product of globalization are misplaced; in many ca ses, the inability of countries to adjust to technological change has been responsible for this income disparity between developed and developing countries. Length: 13 pages. Level: General. Online-HTML
Hufbauer, Gary Clyde. "World Trade After Seattle: Implications for the United States," Policy Brief 99-10, Institute for International Economics, December 1999. U.S. trade strategy in the next administration should take account of the facts that more Amer icans are concerned about labor and environmental conditions abroad, that there is broad disagreement about the benefits of free trade, and that the relationship with developing countries is strained. In the face of these challenges, supporters of open ma rkets should take six steps to regain initiative in the wake of events such as the WTO meeting in Seattle. Length: 10 pages. Level: Intermediate. Online-HTML
Hulsman, John C. "The World Turned Rightside Up: A New Trading Agenda for The Age Of Globalization," Heritage Lectures No. 653, The Heritage Institute, January 24, 2000. The United Kingdom should not join the European Union since it enjoys stronger ties t o the United States than to Europe. In some respects, it makes more sense for Great Britain to join NAFTA as an associate member. Length: 6 pages. Level: General. Online-HTML
Khor, Martin. "Globalization and the South: Some Critical Issues," Discussion Paper No. 147 (summary only), UNCTAD, April 2000. While there are some advantages to an open regime for developing countries, the impact of openness depends on a country's level of development and preparedness to take on the challenges of globalization. When designing their international economic policy regimes, developing countries must continue to press for autonomy in various international forums such as the WTO and not be su bjected to policies unsuitable to their development. Length: 1 page. Level: General. Online-HTML
Kleinknecht A. and J ter Wengel. "The Myth of Economic Globalisation" Cambridge Journal of Economics Vol. 22, Issue 5, Sept. 1998. Argues that the European Union isn't becoming more integrated with the world's other trade blocs and the share in foreign direct investments shows little growth. Level: intermediate Length: 10 pages Online-HTML (Abstract only)
Krugman, Paul. "Global Vision Du Jour," What's New, May 1999. Thomas Friedman proposes a model for the new globalized economy based on the inevitable advance of technology and the opening of markets. Lost in this judgement are the more difficult questions such as how to deal with a recession like that of Japan's in which the problem is not an insufficient export industry but sluggish domestic demand. Length: 2 pages. Level: General. Online-HTML
Krugman, Paul. "The trouble with history," What's New, March 1998. As recent books by Daniel Yergin, Joseph Stanislaw and David Landes elucidate, the world is now re-embracing a level of market openness not seen since the late 19th century. However, the u sefulness of such historical comparisons is lost due to the fact that such retellings of history often do not allow us to be any more certain about predicting the future. Length: 3 pages. Level: General. Online-HTML
Lindsey, Brink. "Globalphobia in the Streets -- Again," Trade Policy Article, The Cato Institute, April 15, 2000. Free trade supporters must make clear that their cause has nothing to do with top-down internationalism. Protesters at the IMF and World Bank meetings are making a mistake in associating the IMF and World Bank with advocates of free and open trade. Length: 2 pages. Level: General.Online-HTML
Lindsey, Brink. "Trade Winds," Book Review, The Cato Institute, published on Reason, November 2000. The book's authors - John Micklethwait and Adrian Wooldrige - take a balanced approach to the impact of globalization, arguing that while it is bene ficial to the world on whole, it's impact is neither as widespread nor overwhelmingly positive as some advocates would have us believe. They place the process of globalization in an historical context, ranging from the mid-19th century to the present day, and examine why some nations embrace greater world integration and others do not. Length: 4 pages. Level: General. Online-HTML
McMahon, Fred. "Globalization, Trade & the Poor," Fraser Forum, October 2001. This is mostly an overview of the 2001 World Bank paper by Dollar and Kray, "Growth Is Good for the Poor," but it starts with the observation that the poorest fifth of countries are those that have not opened their markets. Within countries, Dollar and Krays evidence suggests that the poor neither gain nor lose, relatively, from economic growth, becoming better off along with the rest of society. Length: 5 pages. Level: General. Online-HTML
Nye, Joseph S. Jr. "Look Again, Globalization Isn't Bad for the Poor," Op-Ed, Kennedy School of Government, reprinted from the International Herald Tribune, April 13, 2000. Developing countries that open themselves to globalization have much to gai n from information technology. Through micro-level programs, many Third World poor are gaining access to cellular phones and computing services through a combination of sound government policies and World Bank/IMF assistance. Length: 3 pages. Level: Gener al. Online-HTML
Prestowitz, Clyde. "Who Rules the Global Village?" International Trade Op-Ed, Economic Strategy Institute, published in The Washington Times, April 4, 2000. A major challenge ahead for the Presidential candidates is how to define America's position in the context of globalization. In addition to the numerous benefits of an integrated world economy, many unsettling forces arise such as faster capital flows, new international production and supply patterns, and rapid technological change. Length: 2 p ages. Level: General. Online-HTML
Sauve, Pierre and Arvind Subramanian. "Weakness at the Heart of World Trade," Op-Ed, Kennedy School of Government, June 7, 2000. The WTO negotiations in Seattle failed, not because of the disaffection of society with globalization, but because of waning p rivate sector interest in the WTO, developing country disenfranchisement, and a loss of legitimacy for the WTO system due to an increased number of U.S. - European disputes. Length: 3 pages. Level: General. Online-HTML
Sustar, Lee. "Globalization Myths and Realities," International Socialist Review, June/July 2000. Excerpt from a book, this article argues that globalization really is not the problem for labor, since it is not all that new and it is not responsible for most of the losses in jobs and good wages that labor has experienced. These were due primarily to the increased power of corporations, which has been assisted by the threat of moving jobs abroad, but which was already having many of these effects without it. Length: 5 pages. Level: General. Online-HTML
Borjas, George. "Immigrants Tend to Live in High Welfare Benefit States," Digest, National Bureau of Economic Research, April 1999, summary of a paper. Within the U.S. there is a strong positive correlation between the welfare benefits offered by states a nd the "clusters" of immigrants which settle there. Such clustering is particularly evident in California and cannot be entirely attributed to it's proximity to Mexico or the presence of existing ethnic enclaves. Length: 1 page. Level: General. Online-HTML
Borjas, George J. "Mexico's One-Way Remedy," Op-Ed, Kennedy School of Government, reprinted from the New York Times, July 18, 2000. The president of Mexico, Vincente Fox, has proposed a plan to open the border between Mexico and the United States f or the free movement of goods and people. This would lead to a level of immigration which American could not sustain and would drive down wages for low-income professions. Length: 2 pages. Level: General. Online-HTML
Butcher, Kristin and Anne Piehl. "Recent Immigrants Less Likely to go to Prison than Natives," Digest, National Bureau of Economic Research, January 1998, summary of a paper. Immigrants with lower education are less likely to be institutionalized than nat ive-born Americans with similar education levels. Native-born blacks and hispanics also have higher institutionalization rates than immigrant blacks and hispanics. While the rates converge over time, the short-term rate for immigrants is rising more slowl y than in past decades, providing hope for the future. Length: 1 page. Level: General. Online-HTML
Gallaway, Lowell, Stephen Moore and Richard Vedder. "The Immigration Problem: Then and Now," The Independent Review Vol. 4, No. 3, The Independent Institute, Winter 2000. The argument that immigrants to the United States take undue advantage of the welfar e state, although plausible, is exaggerated or just plain wrong. Excluding refugees, immigrants resort to welfare less often than native-born Americans. Length: 18 pages. Level: Intermediate. Online-HTML
Gustman, Alan and Thomas Steinmeier. "Immigrants Enjoy Better Social Security Returns than U.S. Natives," Digest, National Bureau of Economic Research, September 1998, summary of a paper. Despite paying 76 percent of the taxes paid by native-born workers, immigrants recieve 83 percent of the benefits of every dollar paid. A better system would adjust the Social Security formula to pro-rate benefits based on the fraction of time immigrants actually spend living in the United States. This would bring immigr ant benefits more in line with their payroll contributions. Length: 1 page. Level: General. Online-HTML
Hanson, Gordon et al. "Does Border Enforcement Protect U.S. Workers From Illegal Immigration?" Digest, National Bureau of Economic Research, July 1999, summary of a paper by Gordon Hanson, Raymond Robertson and Antonio Spilimbergo. Illegal immigration ha s only a minimal effect on labor markets in U.S. border regions, probably for two reasons. First, given continuing illegal immigration, U.S. natives may leave border regions or be deterred from moving to those regions. Second, the economies of border regi ons may gradually shift to industries that make intensive use of immigrants' skills. The authors thus conclude that the perceived impact of illegal immigration on wages has been exaggerated. Length: 1 page. Level: General. Online-HTML
Masters, Suzette Brooks & Ted Ruthizer. "The H-1B Straitjacket: Why Congress Should Repeal the Cap on Foreign-Born Highly Skilled Workers," Trade Briefing Paper No. 7, The Cato Institute, March 3, 2000. The U.S. should lift the cap on foreign born skilled workers to meet the demands of the growing high-tech sector. Claims that this will cause unemployment and depress wages domestically are unfounded. Length: 17 pages. Level: Intermediate. Online-HTML
Moore, Stephen. "Immigration and the Rise and Decline of American Cities," Essays in Public Policy, The Hoover Institution, August 1997. Empirical evidence does not support the notion that immigration has contributed to the decline of America's major citi es. In particular, those cities with the largest percentages of immigrants also had higher job creation rates, higher per capita incomes, lower poverty rates and 20 percent less crime. Length: 33 pages. Level: Intermediate. Online-HTML
Simon, Julian L. Immigration: The Demographic and Economical Facts, executive summary of study published by the Cato Institute and the National Immigration Forum, December 11, 1995. Study finds that immigrants to the U.S. do not increase the unemployment rate for native Americans, that total per capita government expenditures are much less for immigrants than for native Americans, and that our natural resources and the environment are not put at risk by immigration. Length: 4 pages Level: general Online-HTML
Skerry, Peter and Stephen J. Rockwell. "The Cost of a Tighter Border: People-Smuggling Networks" The Los Angeles Times, May 3, 1998. New "get-tough" policies on illegal immigration to the U.S. have provided opportunities for sophisticated immigrant-smuggling rings with ties to organized crime and drug traffickers. Length: 2 pages Level: general Online-HTML
Smith, James P. "Immigration Policies Should be Based on Facts," Op-Ed Service, National Academies of Science, June 13, 1997. The effects of immigration on population, the economy, and the fiscal health of local, state and federal governments, is decidedl y mixed. It is important to base immigration policies on concrete evidence such as the effect immigrants have on expenditure on public and social services, the increase to the tax base, and the overall benefits to the economy from a larger, more diverse l abor pool. Length: 3 pages. Level: General. Online-HTML
Dornbusch, Rudi. "Bye Bye Middle Class," Editorials, July 1997. The influence of the state as welfare provider and operator of public sector enterprises has been declining with the growth in free trade. The challenge for policy-makers is to address the gr owing wage gap by devising policies that will allow greater freedom for individuals to move out of low-paying jobs. Length: 8 pages. Level: General. Online-PDF
Faux, Jeff. "Do the 'Seattle protesters' have a point?" Viewpoints, Economic Policy Institute, excerpt from the article originally published in The International Economy, July/August 2000. The WTO and NAFTA agreements are not genuine free-trade agr eements but actually serve to protect the interests of the global investors while undercutting the living standards of the world's poor and increasing inequality. The economic elites should come up with ways to address this growing divide if they hope to avoid class struggle. Length: 1 page. Level: General. Online-HTML
IMF Fiscal Affairs Department, "Should Equity Be a Goal of Economic Policy?" Economic Issues No. 16, IMF, 1998. Equity should be a goal of economic policy to the extent that fiscal policy can be used to redistribute income and reduce income inequality ove r the long term. Central to this debate is whether governments should be concerned with achieving targeted outcomes or simply leveling the playing field to ensure equal opportunity. Length: 9 pages. Level: Intermediate. Online-HTML
Fraser Institute. "Measuring Global Patent Protection," Forum Editorial, March 1999. Modeling countries' Intellectual Property regimes reveals that the countries providing the highest level of protection are also the most open to free economic policies. More effort should be made to develop a "critical mass" of R&D in some of the poorer countries which do not have the necessary incentives to strengthen those protections. Length: 3 pages. Level: Intermediate. Online-HTML
Blecker, Robert A. "The Time Has Come for IMF Reform," Viewpoints, Economic Policy Institute, published in the Hamilton (Ontario) Spectator, May 4, 1999. The IMF needs to become more accountable, bailouts need to relieve the country as opposed to p rivate investors, speculative capital flows must be regulated and the G-7 nations need to coordinate policy to ensure a more balanced form of global growth. Length: 2 pages. Level: General. Online-HTML
Calamiris, Charles W. "How to Invent a New IMF", American Enterprise Institute "On the Issues", May 1999. Proposes plan that would end the IMF practice of bailing out troubled emerging markets and would return to addressing real liquidity problems. Length: 7 pages Level: intermediate Online-HTML
Calomiris, Charles W. "When Will Economics Guide IMF and World Bank Reforms," Testimony, American Enterprise Institute, presented before the Senate Committee on Foreign Relations, May 23, 2000. The role of the World Bank and IMF must be re-defined and they should not be used by the U.S. as a tool of foreign policy if they are to develop into legitimate economic institutions. Length: 12 pages. Level: Intermediate. Online-HTML
Dornbusch, Rudi. "Stiglitz vs. the IMF: Another View," Editorials, published in The New Republic, April 2000. Accusations that the IMF staff failed to respond adequately to the Asia crisis are untrue. The IMF prescriptions have helped Asia recover while following unorthodox economic strategies such as fiscal restraint and high interest rates in a recession. Length: 2 pages. Level: General. Online-HTML
Mann, Catherine. "Market Mechanisms to Reduce the Need for IMF Bailouts", Institute for International Economics, International Economy Policy Brief, Feb 1999. Gives reasons why IMF funding should be limited. Length: 5 pages Level: intermediate Online-HTML
McQuillan, Lawrence J. "The Case against the International Monetary Fund," Essays in Public Policy, The Hoover Institution, November 1999. The IMF has outlived its usefulness since a global fixed system of exchange rates no longer exists. The Fund should be scrapped, and market-based alternatives should be promoted to take its place. These include free-floating exchange rates, universal accounting standards, open financial markets, and institutional reforms which would allow free markets to emerge. Length : 24 pages. Level: Intermediate. Online-HTML
McQuillan, Lawrence J. "How to Replace the IMF," Digest 1999 No. 4, The Hoover Institution, December 1999. The IMF has grown too cumbersome to play any role in modern financial markets and must be phased out. In its place, countries must embrace free-floa ting exchange rates, universal accounting standards, open financial markets, and institutional reforms. Length: 6 pages. Level: General. Online-HTML
McQuillan, Lawrence J. "Reflections on the International Monetary Fund," Weekly Essays, The Hoover Institution, July 2000. The IMF is obsolete and has been shown to exacerbate economic crises rather than remedy them. This is due in part to the increasing belief on the part of creditors that the IMF will always bail them out if conditions worsen, as it did in Mexico and Russia. The IMF should be abolished. Length: 2 pages. Level: General.Online-HTML
Meltzer, Allan H. "What's Wrong With the IMF? What Could Be Better?" American Enterprise Institute - Speeches, October 8, 1998. This article says that the IMF system is flawed and outdated. There are other, more effective methods for performing the same functions. It includes suggestions for reforming and/or restructuring the system. Length: 13 pages. Level: Intermediate. Online-HTML
Mikesell, Raymond F. "Revisiting Bretton Woods," Public Policy Brief No. 24 (Summary Only), The Jerome Levy Economics Institute, 1996. The IMF and World Bank should undergo reforms aimed at scaling back the size and scope of their operations. Length: 1 pa ge. Level: General. Online-HTML
O'Driscoll Jr., Gerald P. and Brett D. Schaefer. "The IMF Promotes Poor Banking Practices", Heritage Foundation Executive Memorandum, No. 592, April 26, 1999. The IMF sets a bad example of banking practices. It damages the international financial system when it continues to lend to countries like Russia. Length: 2 pages Level: general Online-PDF
Sachs, Jeffrey. "The IMF and the Asian Flu" The American Prospect no. 37 (March-April 1998): 16-21. Discusses how the IMF acted wrongly when dealing with the Asian crisis and how these actions have helped produce a panic throughout East Asia. Also explains what the IMF is and what it does. Level: general Length: 8 pages Online-HTML
Schwartz, Anna J. "Time to Terminate the ESF and the IMF" Cato Foreign Policy Briefing No. 48, August 26, 1998. Claims that the Exchange Stabilization Fund and the International Monetary Fund should be terminated; the ESF because its foreign exchange interventions are wasteful and ineffective, and the IMF because it cannot and does not serve as a lender of last resort. Length: 12 pages Level: general Online-HTML
Stiglitz, Joseph. "The Insider: What I Learned at the World Economic Crisis," Article, The Brookings Institute, published in The New Republic, April 17, 2000. The IMF failed to stem the global financial crisis of 1997-98 due to its insistence on imposing a uniform set of recovery conditions on every country hit by the crisis. This ineffective advice was largely the result of using outmoded economic models and pursuing, along with the U.S. Treasury Department, an arrogantly secretive policy which prevented any open discourse on the problems and possible solutions. Length: 6 pages.Level: General.Online-HTML
Krugman, Paul. "Can Deflation be Prevented?" What's New, February 1999. Deflationary pressures are caused largely by an excess of saving over investment, even at near zero percent interest rate levels. The solution in this case may be to induce moderate t o high inflation through radical central bank policy such as acquiring a substantial share of outstanding assets through open market operations. Length: 5 pages. Level: Intermediate. Online-HTML
Krugman, Paul. "Inflation Targeting in a Liquidity Trap: The Law of the Excluded Middle," What's New, February 1999. Japan's solution to its current liquidity crisis is to target inflation at moderate positive levels. However, this will only lead to furth er deflation unless the target is set reasonably high. Length: 1 page. Level: General. Online-HTML
Krugman, Paul. "Land of the Rising Yen," What's New, September 1999. Japan's liquidity crisis could be solved by the central bank creating expectations of inflation which the strong yen could conceivably absorb. Length: 1 page. Level: General. Online-HTML
Krugman, Paul. "Morning in Japan?" Slate March 11, 1999. When the U.S. was faced with an economic slowdown in 1982, the Fed responded with looser monetary policy and output and growth recovered. Japan would be well advised to take this into conside ration when considering ways to break out of their current deflationary cycle. Length: 4 pages. Level: General. Online-HTML
Krugman, Paul. "Thinking About the Liquidity Trap," What's New, December 1999. As the recent liquidity crisis in Japan has shown, virtues like saving, or a central bank known to be strongly committed to price stability, become vices; to get out of the tra p a country must loosen its belt, persuade its citizens to forget about the future, and convince the private sector that the government and central bank aren’t as serious and austere as they seem. Length: 18 pages. Level: Advanced. Online-HTML
Krugman, Paul. "Time on the Cross: Can Fiscal Stimulus Save Japan?" What's New, September 1999. Japan's strategy of using massive fiscal spending to stimulate the economy flies in the face of convential wisdom which suggests that monetary policy is the be st way to correct a savings-investment imbalance. Length: 3 pages. Level: Intermediate. Online-HTML
Lincoln, Edward J. "On Japan: No Way to Run an Economy," Op-Ed, The Brookings Institution, published in Newsweek Japan, August 23, 2000. The recent decision by the Bank of Japan to raise interest rates represents bad policy making for an economy su ffering from low growth. The Bank may have been encouraged by recent improvements in specific economic indicators, but a more significant trend towards overall growth must be observed before raising rates. Length: 3 pages. Level: General. Online-HTML
Makin, John H. "Saving Money for the Future - and Paying For It," Articles, American Enterprise Institute, published in the Orlando Sentinel, August 20, 2000. Japanese households, fearful of falling pension benefits and higher taxes, and expecting lower prices, are purchasing more and more government bonds that, in turn, make it easier for the government to continue its counterproductive efforts to stimulate the economy by spending more on wasteful public works projects. Length: 3 pages. Level: Gen eral. Online-HTML
Posen, Adam S. "Nothing to Fear but Fear (of Inflation) Itself," Policy Brief 99-9, Institute for International Economics, October 1999. The Japanese economy has seen post-recession growth rates rise to a more sustainable 2 percent annually thanks to fisc al stimuli and banking sector reforms. This can be maintained long term if the newly independent Japanese central bank does not adhere too rigidly to a policy of deflation, keeping in mind that a certain amount of inflation should be expected. Length: 10 pages. Level: Intermediate. Online-HTML
Lincoln, Edward J. "Japan Summit: Economics Matter," Brookings Institute - Policy Brief #49, May 1999. This article says that the focus of the May 3rd summit should be Japan's economic revival and that additional steps must be taken in order to foster recovery. Length: 6 pages. Level: General. Online-HTML
Lincoln, Edward J. "On Japan: The Confusing Economy," Opinion Piece, The Brookings Institute, published in Newsweek Japan, May 10, 2000. The Japanese government must maintain current high fiscal spending and low interest rates while hoping for an increase in exports if Japan's economy is to recover fully. Length: 3 pages. Level: General. Online-HTML
Litan, Robert E. "The Clogged Arteries of a Troubled Economy" Los Angeles Times, October 4, 1998. Discusses roadblocks to helping Japan's failing banks and proposes solutions to the problem. Length: 2 pages Level: intermediate Online-HTML
Meltzer, Allan, "Time for Japan to Print Money," On the Issues, American Enterprise Institute, August 1998. Argues that the U.S. is wrong to ask Japan to cut taxes to stimulate its economy; monetary expansion would be better. Level: intermediate Length: 2 pages Online-HTML
Noland, Marcus, Sherman Robinson, and Zhi Wang. "The Global Economic Effects of the Japanese Crisis", Institute for International Economics Working Paper, 98-6, 1998. Real depreciation of the yen will have significant adverse effects on the rest of Asia. Regarding the U.S., developments in Japan could have adverse effects on output and employment in the motor vehicles and parts, electronics, and machinery sectors. Length: 10 pages Level: intermediate Online-HTML
Posen, Adam S. "Implementing Japanese Recovery", Institute for International Economics, International Economy Policy Brief, Jan 1999. Failure to properly and rapidly implement the appropriate policies for restoring Japan's economic growth, (those that address the country's financial fragility and lack of domestic demand), could provoke another crisis. Length: 8 pages Level: intermediate Online-HTML
Scott, Robert E. and Robert A. Blecker. "Cut Interest Rates Now: How to Support the Yen and Save U.S. Jobs at the Same Time", Issue Brief #126, Economic Policy Institute, June 29, 1998. Explains why the Federal Reserve Open Market Committee should reduce its key interest rate target by at least one-half of a percent in order to strongly influence the yen-dollar exchange rate. Length: 3 pages Level: intermediate Online-HTML
Graham, Edward M. "A Radical but Workable Restructuring Plan for South Korea", Institute for International Economics, International Economy Policy Brief, Jan 1999. Claims that South Korea could successfully restructure its economy using a model similar to the Resolution Trust Corporation (RTC) that the U.S. used to resolve the Savings and Loan crisis of the 1980s. Length: 6 pages Level: intermediate Online-HTML
Szamosszengi, Andrew. "An IMF Success Story", Economic Strategy Institute Op-Ed Page, originally appeared in the Journal of Commerce on April 27, 1999. Describes the IMF's success with the South Korean economy. Length: 2 pages Level: general Online-HTML
Morici, Peter. "Compromise on Labor Rights is Crucial to New WTO Talks," WTO and GATT Op-Ed, Economic Strategy Institute, published in the Bridge News, February 18, 2000. The WTO should be strengthened to enforce global labor standards and protect human rights. This is the only way to achieve true prosperity for the maximum number of participants in the global economy. Length: 2 pages. Level: General. Online-HTML
Samida, Dexter. "Working 9 to 9," Forum, The Fraser Institute, September 2000. Intervention and imposition of labor standards in developing countries will only lead to increased unemployment. Rather, the focus should be placed on increasing the competitio n for labor and productivity increases through further trade liberalization. Length: 2 pages. Level: General. Online-HTML
Lindsey, Brink, Mark A. Groombridge & Prakash Loungani. "Nailing the Homeowner: The Economic Impact of Trade Protection of the Softwood Lumber Industry," Trade Policy Analysis No. 11, The Cato Institute, July 6, 2000. The U.S. should remove protectionist trade policies targeted at softwood lumber imports from Canada. The special fees drive up the price of lumber in the U.S. for the many lumber using sectors which would benefit from lower prices on lumber that free trade could bring.Length: 16 pages. Level : Intermediate.Online-HTML
Meltzer, Allan H. "A Plan for Economic Development," Independent, Sep. 21, 2001. The IMF and World Bank should change their functions, eliminating their overlaps with the regional development banks. Instead, the IMF should concentrate on preventing and managing financial crises, while the World Bank should be focused on promoting development, not lending. Length: 2 pages. Level: General. Online-HTML
Meltzer, Allan H. "What's Wrong with the IMF? What Would Be Better?" The Independent Review Vol. 4 No. 2, The Independent Institute, Fall 1999. Created in 1944 to help stabilize debtor countries, the International Monetary Fund today is a source of instab ility, chiefly through its subsidies of risky bank loans and penalties on sound ones. The time has come to rely more on bank capital and market-based incentives to strengthen the international financial system. Length: 15 pages. Level: Intermediate. Online-HTML
Meltzer, Allan H. and Jeffrey D. Sachs. "Reforming the IMF and the World Bank," On the Issues, American Enterprise Institute, April 2000. The IMF should scale back aid activities and limit future bailout packages to short term, emergency lending. The Worl d Bank should limit development assistance to those poor countries that do not have access to private capital, and it should cut programs in relatively well off developing nations such as China and Argentina. Length: 3 pages. Level: General. Online-HTML
Williamson, John. "The Role of the IMF: A Guide to the Reports," Policy Brief 00-5, Institute for International Economics, May 2000. Recent calls to reform the IMF have dealt with four major areas of concern: the scope of Fund activities, surveillance, le nding, and governance. As a review of the current debate reveals, there is much consensus on IMF reform proposals. Most of the reforms call for the IMF to focus on its core competencies such as crisis prevention and management. Length: 28 pages. Level: I ntermediate. Online-HTML
Clarida, Richard et al. "Monetary Policy Rules in Practice: Some International Evidence," Digest, National Bureau of Economic Research, July 1998, summary of a paper by Richard Clarida, Jordi Gali and Mark Gertler. Monetary policy in the United States, G ermany and Japan since 1979 has been based on inflation targeting in an effort to achieve price stability. The European Monetary System struggled to employ such a system since economic conditions across disparate countries were not always in sync with tho se of the German central bank's monetary policies. Length: 1 page. Level: General. Online-HTML
Yeager, Leland B. "From Gold to the Ecu: The International Monetary System in Retrospect," The Independent Review Vol. 1 No. 1, The Independent Institute, Summer 1996. The international monetary system is in need of fundamental reform that would base the value of currency arrangements on something more tangible than a simple supply and demand framework. Reform proposals include privatizing the monetary supply and linking the value of money directly to a basket of goods and services used to calculate a cos t-of-living index. Length: 26 pages. Level: Intermediate. Online-HTML
Rockoff, Hugh. "The History of the U.S. as a Monetary Union," Digest, National Bureau of Economic Research, June 2000, summary of a paper. Early history of U.S. monetary union was characterized by regional crises that often spread to surrounding areas. Th ese crises were instigated by the wide range of montary policies practiced by different regions of the country. Beginning in the 1930's, institutional changes and federally funded transfer programs began to stabilize the monetary system and led to the cre ation of an optimal currency area. Length: 1 page. Level: General.Online-HTML
Faux, Jeff. "'Mercosur' Trade: Hardly a Case for Fast Track, Policy Brief No. 121, Economic Policy Institute, September 24, 1997. Refutes claim made by "fast track" proponents that we need NAFTA to sell in the "Mercosur" block, which includes Argentina, Brazil, Uruguay, and Paraguay. Length: 2 pages Level: general Online-HTML
Griswold, Daniel T. "Whatever Happened to 'the Giant Sucking Sound?'" Trade Policy Article, The Cato Institute, June 6, 2000. Since the passage of the WTO and NAFTA, the flight of capital to countries with lower costs and standards never materialized. Ins tead, investment in the United States has increased due to the stability, infrastructure, human capital and growth potential of U.S. markets. Length: 2 pages.Level: General.Online-HTML
McFadyen, Jacqueline. "NAFTA Supplemental Agreements: Four Year Review", Institute for International Economics Working Paper, 98-4. Length: 19 pages Level: intermediate Online-HTML
Public Citizen, "NAFTA: the North American Free Trade Agreement," a web site devoted to critical evaluation of the NAFTA. Online-HTML
Rothstein, Jesse and Robert Scott. "NAFTA and the States: Job Destruction is Widespread", Policy Brief No. 119, Economic Policy Institute September 19, 1997. NAFTA would force us to import more and export less to Canada and Mexico. This would eliminate U.S. jobs and cause wages to decline. Length: 5 pages Level: general Online-HTML
Rothstein, Jesse and Robert Scott. "NAFTA's Casualties: Employment Effects on Men, Women, and Minorities", Policy Brief No. 120, Economic Policy Institute, September 19, 1997. Describes a study showing how NAFTA has specifically affected the jobs of women, white men, and minorities. Explains what kinds of jobs were lost and why. Length: 5 pages Level: general Online-HTML
Scott, Robert E. "Free Trade in the Americas: Labor and Environmental Concerns", Congressional testimony, April 29, 1998. Changing trade flows, and NAFTA in particular, have had a depressing effect on employment and wages in the U.S. The Asian crisis threatens to deepen this effect. Length: 3 pages Level: general Online-HTML
Panagariya Arvind. "The Millenium Round and Developing Countries: Negotiating Strategies and Areas of Benefits," G-24 Discussion Paper No. 1, UNCTAD, March 2000. From the viewpoint of overall strategy, developing countries should limit the agenda for a ne w round to the built-in Uruguay Round (UR) agenda plus trade liberalization in industrial goods. From the long-run perspective, they need to commit substantial human and financial resources to the creation of native research and negotiating capacity on WT O-related issues. Length: 1 page. Level: General. Online-HTML
Eberstadt, Nicholas. "Six Billion Reasons to Cheer," American Enterprise Institute - On the Issues, November 1999. This article says that the world population is growing steadily and has both positive - such as the scientific innovations that have increased life expectancy - and negative aspects. Length: 3 pages. Level: General. Online-HTML
Peron, Jim. "Exploding Population Myths," Critical Issues, The Fraser Institute. Famine, scarce resources and overcrowding in some of the world's developing countries should not be cause for future panic. Technological developments will enable the world t o continue providing for itself far into the future. Meanwhile, those countries suffering from 'overpopulation' frequently have very low degrees of economic freedom thus distorting the allocation of resources and inhibiting growth. Length: 14 pages. Level : Intermediate. Online-HTML
Wattenberg, Ben. "Counting Change in Euroland," Articles, American Enterprise Institute, published in The Washington Times, January 28, 1999. Europe's population is shrinking and aging. This will lead to a reduced role in global markets unless fertility rates increase or immigrants are successfully absorbed. Length: 2 pages.Level: General.Online-HTML
Froot, Kenneth et al. "The Portfolio Flows of International Investors," Digest, National Bureau of Economic Research, January 1999, summary of a paper by Kenneth Froot, Paul O'Connell and Mark Seasholes. Examining the trading behavior of international sto ck market investments indicates that investors tend to buy or sell based on past equity returns in that country or region. Interestingly, sharp increases of foreign investments tended to be accurate at predicting a future rise in foreign equity markets. L ength: 1 page. Level: General. Online-HTML
Samida, Dexter. "The Truth About Growth," Forum, The Fraser Institute, July 2000. In a recent study published by two World Bank economists, growth and free trade were found to benefit the reduction of poverty more than government intervention and consumpt ion. Length: 2 pages. Level: General. Online-HTML
Sarlo, Chris. "Lies and Statistics," Forum, The Fraser Institute, September 2000. Assessing poverty levels using studies based on relative measures does not truly indicate how many people in the world are truly deprived. Rather it simply serves to illustr ate levels of inequality within a particular country without asking questions such as the overall well-being of that country. Length: 3 pages. Level: General. Online-HTML
Hanke, Steve H. "A Case for a Russian Currency Board System", Cato Foreign Policy Briefing, No. 49, October 14, 1998. The recent devaluation of Russia's ruble shows that the country's money problems do not depend on who controls the central bank. Discusses a plan under which the dollar circulates with the ruble. Rubles would be backed 100% by the dollar. Length: 11 pages Level: general Online-PDF
Mastel, Greg. "Russia, Steel, and U.S. Policy", Economic Strategy Institute op-ed, originally appeared in Journal of Commerce, January 4, 1999. Discusses Russia's entrance into the world steel market. Length: 2 pages Level: general Online-HTML
Schuler, Kurt & George A. Selgin. "Replacing Potemkin Capitalism: Russia's Need for a Free-Market Financial System," Policy Analysis #348, The Cato Institute, June 7, 1999. Russia's financial system still retains many vestiges of socialism which restrict growth. The ruble should be replaced with the dollar, the central bank eliminated and the commercial banking sector should be opened to foreign competition. Length: 16 pages.Level: Intermediate.Online-HTML
Wedel, Janine R. "U.S. Assistance for Market Reforms: Foreign Aid Failures in Russia and the Former Soviet Bloc", Cato Policy Analysis, No. 338, March 22, 1999. Explains why Western aid to promote the transition to a free market in Central and Eastern Europe and the former Soviet Union has been largely ineffective. Length: 20 pages Level: general Online-HTML
Glassman, James K. "No Sanctions, No Castro," On the Issues, American Enterprise Institute, March 1998. Lifting the unilateral economic embargo against Cuba would be the best way for the US to promote democracy in Cuba and hasten the downfall of Castro. Length: 2 pages. Level: General. Online-HTML
Haass, Richard N. "Hearings on Economic Sanctions," Congressional Testimony, The Brookings Institution, Statement before the Senate Task Force on Economic Sanctions, September 9, 1998. Policymakers must carefully consider any unintended effects of sanctio ns and whether or not they are the most appropriate foreign policy tool to deal with a challenge. Length: 4 pages.Level: General.Online-HTML
Haass, Richard N. "Hearing on the Use and Effect of Unilateral Trade Sanctions," Congressional Testimony, The Brookings Institution, statement before the Subcommittee on Trade, Committee on Ways and Means, U.S. House of Representatives, May 27, 1999. The U.S. should take measures to improve transparency and reporting requirements for economic sanctions. In addition, unilateral sanctions should not be undertaken except in special circumstances. Length: 3 pages. Level: General. Online-HTML
Hufbauer, Gary Clyde. "Sanctions-Happy USA", Institute for International Economics, International Economy Policy Brief, July 1998; originally appeared in The Washington Post, July 12, 1998. Sanctions are bad substitutes for military force, they inflict pain on innocent people, and they only work when they are done hard and fast, which they usually are not. Includes a chart of all countries the U.S. has sanctioned and why. Length: 9 pages Level: general Online-HTML
Hufbauer, Gary Clyde, Kimberly Ann Elliott, Tess Cyrus, and Elizabeth Winston. "U.S. Economic Sanctions: Their Impact on Trade, Jobs, and Wages", Intstitute for International Economics Working Paper, 1997. Examines the mostly negative effects of U.S-imposed trade sanctions on the U.S. economy. Length: 9 pages Level: intermediate Online-HTML
Preeg, Ernest H. "Sanctions and How They Don't Work," Forum, The Fraser Institute, June 2000. Unilateral sanctions targeting totalitarian regimes are rarely effective at achieving their desired goals since they are difficult to administer, easy to evade a nd often not wanted by the pro-democracy activists in the target countries. Length: 3 pages. Level: General. Online-HTML
Samida, Dexter and Martin Zelder. "The Hidden Harm of Sanctions," Forum, The Fraser Institute, April 2000. If the United States is really interested in promoting democracy in places like Sudan, it would lift economic sanctions and do more to promote free trade. Length: 3 pages. Level: General. Online-HTML
Sirico, Robert A. "Free Trade and Human Rights: The Moral Case for Engagement," Trade Policy Briefing Paper #2, The Cato Institute, May 27, 1998. Trade barriers against nations that do not protect human rights are ineffective since the policy only isolate s the victims in those countries while limiting competition for domestic firms. Free trade, by contrast, promotes openess and democracy. Length: 8 pages. Level: General.Online-HTML
Bandow, Doug. "Stealing from steel consumers," Trade Policy Article, The Cato Institute, July 7, 1999. The U.S. steel industry does not need protective measures such as restrictions on steel imports. Any attempt to do so would raise the cost of steel for the many sectors of the U.S. economy dependent on steel imports. This would lead to higher unemployment and possible retaliatory measures from other nations. Length: 2 pages. Level: General. Online-HTML
Hufbauer, Gary Clyde and Erika Wada. "Steel Quotas: A Rigged Lottery," Policy Brief 99-5, Institute for International Economics, June 1999. Efforts to legislate protection for the steel industry through bills such as the Visclosky steel act would only ben efit large steel companies while costing American households hundreds of thousands of dollars to save only a few jobs. Length: 5 pages. Level: General. Online-HTML
Lindsey, Brink. "The Perpetual Steel 'Crisis'," Trade Policy Articles, The Cato Institute, October 23, 2000. Recent efforts by steel lobbyists to reinforce protectionist measures for domestic firms include a subsidy scheme to transfer proceeds from antidu mping duties directly to U.S. firms and attempts to maintain, at any cost, old antidumping and countervailing duties which may no longer be needed. Length: 2 pages. Level: General. Online-HTML
Lindsey, Brink, Daniel T. Griswold & Aaron Lukas. "The Steel 'Crisis' and the Costs of Protectionism," Trade Briefing Paper #4, The Cato Institute, April 16, 1999. The domestic steel industry is not suffering nearly as much as steel unions claim. Consumer s and producers will pay a high price if protections are imposed and quotas would be a violation of WTO obligations. Length: 14 pages. Level: Intermediate.Online-HTML
Mastel, Greg. "For Japan, Steel Dumping is the Rule", Economic Strategy Institute Op-Ed Page, originally appeared in the Daily Yomiuri on April 8, 1999. Explains why Japan has such low steel prices. Length: 3 pages Level: intermediate Online-HTML
Mastel, Greg. "Just Use the Escape Clause?", Economic Strategy Institute Op-Ed Page, originally appeared in the Journal of Commerce, April 8, 1999. Explains the Escape Clause, also know as Section 201. Length: 2 pages Level: intermediate Online-HTML
Mastel, Greg and Andrew Szamosszegi. "Leveling the Playing Field: Antidumping and the U.S. Steel Industry", Economic Strategy Institute Executive Summary. Explains why the world steel market is distorted and why it would benefit the U.S. to implement antidumping laws. Length: 3 page Level: general Online-HTML
Szamosszegi, Andrew. "Strengthening Steel," International Trade Op-Ed, Economic Strategy Institute, Letter to the Editor, The Washington Post, July 3, 2000. U.S. trade policy should continue some measure of protection for the steel industry until u nfair industry practices in countries like Japan are reformed. Length: 1 page. Level: General. Online-HTML
Henderson, David R. "The Case for Sweatshops," Weekly Essays, The Hoover Institution, published in The Weekly Standard, February 7, 2000. Sweatshops in Third World and Developing countries offer better employment opportunities for many poor citizen s than the more labor-intensive, lower paying agricultural sector. Sweatshops in some form are a necessary part of a countries transition from undeveloped to industrialized to developed nation. Length: 2 pages. Level: General. Online-HTML
Mitchell, Daniel J. Ph.D. "An OECD Proposal to Eliminate Tax Competition Would Mean Higher Taxes and Less Privacy," Backgrounder No. 1395, The Heritage Foundation, September 18, 2000. An OECD initiative to implement financial restrictions on 41 "tax haven s" would be harmful to free trade and commerce, impose on the rights of nations to determine their own tax policies, destroy financial privacy, impede technological innovation, and hurt American taxpayers. Instead, tax competition should be viewed as bene ficial, in that it offers more choice and encourages governments to pursue responsible tax policies. Length: 45 pages. Level: Intermediate. Online-HTML
Schavey, Aaron. "Choosing To Lead: Liberalizing Trade in Textiles and Apparel," Backgrounder No. 1366, The Heritage Foundation, May 9, 2000. The United States should push for an overall liberalization of the apparel industry and push for implementation of the Agreement on Textiles and Clothing. This would demonstrate American leadership worldwide and avoid protecting the un-productive American textile sector. Length: 9 pages. Level: General. Online-HTML
Scott, Robert E., "The Facts About Trade and Job Creation," Issue Brief No. 139, Economic Policy Institute, Mar 24, 2000. Uses Department of Commerce data to show that trade destroyed more jobs than it created during the 1990s, and also argues that it shifted workers to lower paying jobs and caused additional costs of moving between jobs. Online-HTML
Szamosszegi, Andrew. "Hot Air: The Kyoto Protocol, Trade, and Growth," International Trade Op-Ed, Economic Strategy Institute, July 1, 1999. The efforts by Japan and Europe to reduce greenhouse emissions through taxes on imported automobiles and higher en ergy taxes, respectively, are inefficient and do not have the backing of scientific certainty that such emissions cause large-scale climate change. Length: 2 pages. Level: General. Online-HTML
Edwards, Sebastian. "Trade Openness Raises Economic Growth," Digest, National Bureau of Economic Research, November 1997, summary of a paper. Total factor productivity grows faster in nations with open trade policies. This holds true for many different t ime periods and, for the most part, is not affected by other determinants such as property rights and political instability. Length: 1 page. Level: General. Online-HTML
Helpman, Elhanan. "Openness Spreads the Benefits of R and D," Digest, National Bureau of Economic Research, January 1998, summary of a paper. International trade and investment can transfer the benefits of research and development carried out in develope d countries to developing countries pursuing open market policies. These gains can be as simple as improved organizational methods or a sophisticated process of imitating foreign products and methods. Length: 1 page. Level: General. Online-HTML
Slaughter, Matthew J. and Phillip Swagel. "Does Globalization Lower Wages and Export Jobs?" Economic Issues No. 11, IMF, 1997. Globalization does not increase income inequality to the extent that some extreme anecdotal evidence would suggest. The long ter m benefits of free trade and labor and capital mobility far outweigh the short term adjustment costs. It is up to policy makers to implement public policies that give workers and firms the incentive to adjust to the global economy. Length: 8 pages. Level: Intermediate. Online-HTML
Chimerine, Lawrence. "Two-Way Trade vs. One-Way Trade," Op-Ed, Economic Strategy Institute, published in The Journal of Commerce, March 19, 1999. The U.S. trade deficit reflects the fact that American markets are largely open while many foreign cou ntries continue to employ significant protectionist measures. U.S. trade policy should focus on opening foreign markets and attaining a more equal balance of two way trade. Length: 2 pages. Level: General. Online-HTML
Godley, Wynne. "A Critical Imbalance in U.S. Trade," Public Policy Brief No. 23 (Summary Only), The Jerome Levy Economics Institute, 1995. The U.S. trade deficit should be a cause of concern for policy makers since it reflects a lack of cooperation among nations to regulate the global system of production, trade and payments. Appropriate measures must be taken to correct the balance of payments. Length: 1 page. Level: General. Online-HTML
Griswold, Daniel T. "America's Maligned and Misunderstood Trade Deficit", Cato Trade Policy Analysis, No. 2, April 20, 1998. The trade deficit will respond only to changes in a nation's net flow of foreign investment, which in turn is determined by its underlying rates of savings and investment. Attempts to fix the trade deficit through protectionism, export subsidies, or currency manipulation are bound to fail. Length: 19 pages Level: intermediate Online-HTML
Griswold, Daniel T. "America's Record Trade Deficit", Cato Trade Policy Analysis, No. 12, February 9, 2001, Executive summary, with link to 20-page paper. The U.S. trade deficit, at record size both absolutely and as percent of GDP, is a sign of economic strength. Historically, the deficit rises when the economy is doing best, and this is happening again. The deficit reflect macroeconomic conditions -- especially the inflow of foreign investment -- not foreign trade barriers or lact of competitiveness. Length: 1 pages Level: general Online-HTML
Groombridge, Mark A. "Educating Americans on Imports," Articles, American Enterprise Institute, published in the Journal of Commerce, January 7, 1999. The current account deficit should not be cause for increased protectionism in trade policy but r ather should be viewed as responding to the growing American economy and the demand for imports to fuel this growth. Length: 2 pages Level: General. Online-HTML
Makin, John H. "Causes of the US Trade Deficit," American Enterprise Institute - Testimony, August 19, 1999. Discusses the meanings of the Trade and Current Account balances, causes of the US trade deficit, and what that deficit implies. Length: 5 pages. Level: General. Online-HTML
Makin, John H. "Nothing Wrong with America's Deficit," Articles, American Enterprise Institute, published in the Financial Times (London), September 13, 2000. The current account deficit is a sign of the strength of investment opportunities in the U.S. and the high demand abroad for American assets. This imbalance should not be cause for concern, as any future depreciation of the dollar would be offset by future official capital flows from countries seeking to prevent the appreciation of their curr encies. Length: 2 pages. Level: General. Online-HTML
Mongia, Sanjay and Peter Morici. "Free Trade's Long March Takes a Detour," International Trade Op-Ed, Economic Strategy Institute, published in the Bridge News, April 13, 2000. Critics of free-trade point to the widening U.S. current account defici t as evidence of the need to rein in the forces of capitalism as embodied in the WTO. However, the large trade deficit is a result of the relative strength of the U.S. economy compared to the rest of the world and points to the need to eliminate protectio nist measures embedded in the world economy. Length: 2 pages. Level: General. Online-HTML
Morici, Peter. U.S. Economy Op-Ed, Economic Strategy Institute, prepared testimony submitted to the United States Trade Deficit Review Commission, December 10, 1999. The U.S. trade deficit is largely the product of foreign government policies. The effect on the domestic economy is a decrease in future research and development and a decrease in GDP by shifting labor away from the highly productive export and import-competing industries. Length: 2 pages. Level: General.Online-HTML
Prestowitz, Clyde V. Jr. "The Trade Deficit is a Red Herring," U.S. Economy Op-Ed, Economic Strategy Institute, published in Intellectual Capital.com, August 26, 1999. U.S. policy makers should shift their attention from the large current account d eficit and direct their focus to removing industrial policies and anti-competitive practices in a number of important economies. Length: 2 pages. Level: General. Online-HTML
Scott, Robert. "The U.S. Trade Deficit: Are We Trading Away Our Future?" Viewpoints, Economic Policy Institute, Testimony given before the Committee on International Relation's Subcommittee on International Economic Policy and Trade, July 22, 1999. In ord er to achieve a more equal system of world growth, the United States should refrain from entering any trade agreements without labor and environmental standards attached, reduce the trade deficit in key areas, weaken the dollar and encourage other countri es to adopt labor standards. Length: 12 pages. Level: General. Online-HTML
Scott, Robert E. "U.S. Trade Deficits: Causes, Consequences, and Policy Implications", Congressional testimony, June 11, 1998. Trade deficits eliminate manufacturing jobs and have a depressing effect on wages and our long-term trade competitiveness. Solutions are suggested. Length: 6 pages Level: general Online-HTML
Sands, Christopher. "Why Washington is Taking Such a Tough Stance on Magazines?" Globe and Mail, January 25, 1999. Discusses significance of a Canadian bill seeking to penalize advertisers in Canadian editions of U.S. magazines. Length: 2 pages Level: intermediate Online-HTML
Sweeney, John P. "The High Cost of Clinton's Trade War with the European Union," Executive Memorandum No. 584, The Heritage Foundation, March 26, 1999. By imposing unilateral sanctions on Europe without waiting for the WTO ruling, the U.S. is both hurting American consumers and undermining the legitimacy of the WTO as an international organization. Length: 2 pages. Level: General. Online-HTML
Szamosszegi, Andrew. "It's Time to Think Small on Global Trade," International Trade Op-Ed, Economic Strategy Institute, published in The San Diego Union-Tribune, January 14, 2000. In light of the fact that the WTO has become too large and too segm ented to effect any large-scale trade liberalization, it would be best for trade negotiators to liberalize one sector at a time. This will ensure that those industries and countries committed to opening up trade will not be held hostage by those parties w hich are not so inclined. Length: 2 pages. Level: General. Online-HTML
Dornbusch, Rudi and Francesco Giavazzi. "Hard Currency and Sound Credit: A Financial Agenda for Central Europe," paper May 1998. Argues that hard currency and sound credit are essential in a world where capital is mobile and where economic crises spread quickly and have severe social and economic costs. Length: 8 pages Level: intermediate Online-PDF
Evenett, Simon. "Strengthening the World Financial System is Easier Said than Done" Financial Times, September 23, 1998. Claims that Clinton's plans for strengthening the world financial system fail to address four critical questions. Length: 1 page Level: general Online-HTML
Glassman, James K. "The World Doesn't Need a Financial 'Big Fix'," On the Issues, American Enterprise Institute, October 1998. The world economy doesn't need a dramatic intervention by the IMF. The current economic situation calls for a set of more modest steps. Length: 2 pages Level: general Online-HTML
Burbank, John and Robert E. Scott. "What WTO means for working families," Viewpoints, Economic Policy Institute, published in the Seattle Times, December 2, 1999. The ministers at the WTO meeting must address labor standards and environmental polic y in any trade negotiations. In addition, nations must work to ensure a basic level of economic security and welfare for all segments of their population. Length: 3 pages. Level: General. Online- HTML
Faux, Jeff. "What next for the WTO?" Viewpoints, Economic Policy Institute, published in The American Prospect, January 17, 2000. At the WTO meetings in Seattle, significant flaws were exposed in the WTO's methods of governance. The Third World con tinues to be excluded from major decision making and the Washington consensus is facing challanges from both left and right wing movements. Length: 3 pages. Level: General. Online-HTML
Griswold, Daniel T. "WTO Critics Trade Away Truth for a Sound Bite," Trade Policy Article, The Cato Institute, January 3, 2000. The WTO does not pose a threat to U.S. sovereignty, helps to improve environmental and labor standards in developing countries and helps serve America's national interest by dismantling trade barriers. Length: 2 pages. Level: General.Online-HTML
Griswold, Daniel T. "WTO Membership Good for California, U.S. Economy," Trade Policy Article, The Cato Institute, April 16, 2000. U.S. exports in manufacturing have been growing and domestic industry becoming more efficient since the WTO and NAFTA both we nt into operation. In addition, there has been a sizable inflow of foreign investment into the U.S., promoting further growth and prosperity. Length: 2 pages.Level: General.Online-HTML
Griswold, Daniel T. "WTO Report Card: America's Economic Stake in Open Trade," Trade Briefing Paper No. 8, The Cato Institute, April 3, 2000. America benefits from membership in the WTO since the organization allows a better mix of jobs domestically and makes more markets available for U.S. firms overseas. Length: 16 pages. Level: Intermediate. Online-HTML
Lash, William H. III, & Daniel T. Griswold. "WTO Report Card II: An Exercise or Surrender of U.S. Sovereignty?" Trade Briefing Paper No. 9, The Cato Institute, May 4, 2000. The nature of the WTO is that of a contractual organization entered into willingly without a loss of sovereign rights. The WTO actually reduces the use of sanctions through the Dispute Resolution Mechanism and promotes open trade policies favorable to U.S. exporters. Length: 13 pages.Level: Intermediate. Online-HTML
Lindsey, Brink. "WTO Bashers Would Slam the Door on the World's Poor," Trade Policy Article, The Cato Institute, December 2, 1999. The developing world would benefit from creating outward-oriented economies which promote free trade and capital movements. Protesters of globalization do not have a cohesive case since many human rights and environmental groups have cozied up to corporate special interests.Length: 2 pages. Level: General.Online -HTML
Lindsey, Brink, Daniel T. Griswold, Mark A. Groombridge and Aaron Lukas. "Seattle and Beyond: A WTO Agenda for the New Millennium," Trade Policy Analysis No. 8, The Cato Institute, November 4, 1999. At the upcoming WTO meeting, emphasis should be placed o n reducing trade barriers not as concessionary measures but for the economic rewards of trade liberalization. Labor and environmental standards should not be added to the agenda since these issues would expand the scope of the WTO beyond its original miss ion. Length: 45 pages. Level: Intermediate. Online-HTML
Lukas, Aaron. "WTO Report Card III: Globalization and Developing Countries," Trade Briefing Paper No. 10, June 20, 2000. The developing world benefits from the open trade and investment promoted by the WTO. Any calls for imposing restrictions on trade to promote human rights or environmental agendas must be tempered with the notion that the U.S. is limited in the amount of change it can effect in the developing world. Length: 20 pages. Level: Intermediate. Online-HTML
Maskus, Keith E. "Regulatory Standards in the WTO," Working Paper 00-1, Institute for International Economics, January 2000. The inclusion of intellectual property rights under the WTO framework makes sense, due to the fact that IPR's have been proven to influence trade. Similarly, a case can be made that competition policy deserves consideration by the WTO. However, environmental rights and labor standards are best left out of WTO negotiations. Length: 12 pages. Level: Intermediate. Online-HTML
Schott, Jeffrey J. and Jayashree Watal. "Decision-making in the WTO," Policy Brief 00-2, Institute for International Economics, March 2000. The WTO decision making process is flawed due to the lack of representation epitomized by the current exclusive "Gr een Room" arrangement. The process should be widened so that Green Room members are drawn from both the largest trading nations and representatives from those regions traditionally too poor to afford inclusion. Length: 10 pages. Level: General. Online-HTML