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52252. Economic Insecurity, Prejudicial Stereotypes, and Public Opinion on Immigration Policy
- Author:
- Peter Burns and James G. Gimpel
- Publication Date:
- 07-2000
- Content Type:
- Journal Article
- Journal:
- Political Science Quarterly
- Institution:
- Academy of Political Science
- Abstract:
- PETER BURNS and JAMES G. GIMPEL examine mass attitudes toward immigration policy in the United States, asking whether widespread restrictionist sentiment is stirred more by economic insecurity, by negative ethnic stereotypes, or by some combination of the two. For some, prejudice is rooted in economic insecurity, but prejudice also has roots that are quite independent of economic fears. Anti-immigrant sentiment will not disappear simply because economic conditions improve.
- Topic:
- Immigration, Public Opinion, Economic Security, and Stereotypes
- Political Geography:
- North America and United States of America
52253. Chinese Nationalism and Its International Orientations
- Author:
- Suisheng Zhao
- Publication Date:
- 03-2000
- Content Type:
- Journal Article
- Journal:
- Political Science Quarterly
- Institution:
- Academy of Political Science
- Abstract:
- SUISHENG ZHAO explores whether or not Chinese nationalism is a source of international aggression by examining its different perspectives, orientations, and characteristics. He finds that Chinese nationalism has been a situational matter, more reactive than proactive in international affairs.
- Topic:
- Foreign Policy, Nationalism, Politics, and International Affairs
- Political Geography:
- China and Asia
52254. Getting into the Black: Race, Wealth, and Public Policy
- Author:
- Dalton Conley
- Publication Date:
- 01-2000
- Content Type:
- Journal Article
- Journal:
- Political Science Quarterly
- Institution:
- Academy of Political Science
- Abstract:
- DALTON CONLEY examines the causes and consequences of the black-white asset gap in the United States. He argues that it is wealth, more than any other measure of socio-economic well being, that captures the nature of racial inequality in the post-civil rights era. Conley discusses policy implications that may be used to address such "equity inequity."
- Topic:
- Race, Inequality, Public Policy, and Wealth
- Political Geography:
- United States of America
52255. Heterogeneity and Evolution of Expectations: a Model of Currency Crisis
- Author:
- Jasmina Arifovic and Paul Masson
- Publication Date:
- 12-1999
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- A model of a portfolio allocation between mature and emerging markets is simulated with heterogeneous expectations, imitation, and experimentation. Solutions produce periodic crises. The predictions of the model are compared to a representative-agent, rational expectations model with multiple equilibria.
- Topic:
- Economics, International Political Economy, and International Trade and Finance
52256. Emissions Trading, Capital Flows and the Kyoto Protocol
- Author:
- Martin Ross, Robert Shackleton, Peter Wilcoxen, and Warwick J. McKibbin
- Publication Date:
- 12-1999
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- We use an econometrically estimated multi-region, multi-sector general equilibrium model of the world economy to examine the effects of the tradable emissions permit system proposed in the 1997 Kyoto protocol, under various assumptions about that extent of international permit trading. We focus, in particular, on the effects of the system on international trade and capital flows. Our results suggest that consideration of these flows significantly affects estimates of the domestic effects of the emissions mitigation policy, compared with analyses that ignore international capital flows.
- Topic:
- Economics, Environment, and International Trade and Finance
52257. The Crisis in Asia: An Empirical Assessment
- Author:
- Warwick McKibbin
- Publication Date:
- 12-1999
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- The economies of South East Asia and Korea have been shaken by a financial and economic crisis that has enveloped the region since mid 1997. There are competing explanations for the cause of the crisis however most commentators would agree that a major shock that impacted on the countries has been a dramatic increase in the perceived risks of investing in these economies. This paper explores the impact of a re-evaluation of the risk in the Asian economies focussing on the differential real consequences of a temporary versus more permanent rise in risk. It contributes to our understanding of the possible consequences of the Asia crisis by applying a global simulation model that captures both the flow of goods as well as international capital flows between countries. The real impacts on the Asian economies of a rise in risk perceptions in the model are large and consistent with observed adjustment. However the spillovers to the rest of the world are relatively small because the loss in export demand that accompanies the crisis in Asia is offset by a fall in long term interest rates as capital flows out of Asia into the non-Asian OECD economies. Thus strong domestic demand in economies such as the US induced by the general equilibrium effects of the reallocation of financial capital can more than offset the consequences of lower export growth. The analysis also highlights the impacts on global trade balances reflecting the movements of global capital and points to both potential problems and lesson for policymakers over the coming years.
- Topic:
- Economics, Emerging Markets, and Globalization
- Political Geography:
- China, Israel, East Asia, and Asia
52258. The Global Economic Impacts of Trade and Financial Reform in China
- Author:
- Warwick McKibbin and KK Tang
- Publication Date:
- 12-1999
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Despite the setbacks from the recent Asian currency crisis, the ascendancy of Asia as an economic centre of world economic activity is likely to continue into the 21st century. A key issue that will shape the role of Asia, and indeed the shape of the world economy in the 21st century, is the economic development of China. To date China has successfully weathered the currency storm in Asia and continues on a program of economic reform. If anything, the problems of Japan and Korea provide powerful lessons for other countries undergoing rapid economic growth and structural change. These lessons include the importance of a well developed financial sector with lending and investment decisions based on market signals rather than government directives. Whether China can further integrate smoothly into global markets and sustain the fast growth of the last few decades will be a crucial development in the world economy. In this paper, we explore the impacts of continued Chinese economic reform with a focus on the role of international financial flows both in the adjustment within China as well as in the transmission of Chinese reforms to the rest of the world.
- Topic:
- Economics, Emerging Markets, and Globalization
- Political Geography:
- China, Israel, East Asia, and Asia
52259. Regional and Multilateral Trade Liberalization: The Effects on Trade, Investment and Welfare
- Author:
- Warwick McKibbin
- Publication Date:
- 12-1999
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- This paper explores the impact on economies of trade liberalization under alternative regional and multilateral arrangements: unilateral liberalization; liberalization as part of the ASEAN regional grouping; liberalization as part of the APEC regional grouping; or liberalization as part of a multilateral trade liberalization regime. The paper is based on a Dynamic Intertemporal General Equilibrium model (DIGEM) called the Asia-Pacific G-Cubed Model. It is shown that the long run gains from a country's own liberalization tend to be large relative to the gains from other countries liberalizing although this varies across countries. It is also shown that there is a significant difference between the effects on GDP (production location) and the effects on consumption per capita of the alternative liberalization approaches across countries. The timing of liberalization is also shown to matter. With open capital markets the gains from credibly announced trade liberalization are realized before the reforms are put in place because there is a rise in global investment which raises the global capital stock. In addition there is a reallocation of capital via financial market adjustment. This paper also demonstrates that for some economies, there can be short run adjustment costs to trade liberalization because resources cannot be instantly reallocated across sectors in an economy. These adjustment costs from own liberalization can be reduced if more countries also liberalize. The nature of the dynamic adjustment suggests that other macroeconomic policies may play an important role during the early period of phased-in trade liberalization.
- Topic:
- Economics, Emerging Markets, and Globalization
- Political Geography:
- China, Israel, East Asia, and Asia
52260. Rapid Economic Growth in China: Implications for the World Economy
- Author:
- Warwick McKibbin and Yiping Huang
- Publication Date:
- 12-1999
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Rapid growth of the Chinese economy in the past decade and its potential for strong growth into the foreseeable future have caused anxieties in the rest of the world. Some commentators see Chinese growth wholly in terms of competition for trade and investment opportunities with other developing economies and a major cause of structural adjustments in the advanced industrialized economies. In particular there have been warnings of severe consequences for international agricultural markets. In this paper we use a dynamic general equilibrium model called the G-CUBED model (developed by McKibbin and Wilcoxen) to explore possible future paths of the Chinese economy based on projections of population growth, sectoral productivity growth, energy efficiency and technical change in the Chinese economy. This model captures not only the composition of the direct trade impacts of developments in the Chinese economy but also the implications of the endogenous flows of financial capital on macroeconomic adjustment in the world economy. The study focuses on the period from 1990 to 2020. Rather than being a problem for the world economy, we find strong growth in China is beneficial for the world economy directly through raising world incomes.
- Topic:
- Economics, Emerging Markets, and Globalization
- Political Geography:
- China, Israel, East Asia, and Asia