Part 1. Overview -- Chapter 1.China’s opening-up policies: achievements and prospects -- Part 2. Import substitution & trade protection -- Chapter 2. The economics of price scissors: an empirical investigation for China -- Chapter 3.Measuring the impact of trade protection on industrial...

Cover; Half Title; Title; Copyright; Dedication; Contents; List of figures; List of tables; List of contributors; Acknowledgements; 1 Introduction; 2 National sovereignty in an interdependent world; 3 Trade competition and reallocations in a small open economy; 4 Trade in goods and trade in...

Innovation depends on exporting and, in particular, on scale and competition in export markets. We develop a theory featuring (1) quality-segmented markets, (2) step-by-step innovation that moves firms forward along the quality ladder, and (3) escape-the-competition motives for innovation. We...

This paper analyzes the effect of undervaluation on economic growth in the presence of borrowing constraints. Based on a two-sector, small open-economy model, we show that undervaluation can promote economic growth by partly correcting distortions in financial markets through the channels of...