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Trade, Growth and Economic Inequality in the AsiaPacific Region: Lessons for Policymakers

Author

Listed:
  • Theresa Greaney

    (Department of Economics, University of Hawaii)

  • Baybars Karacaovali

    (Department of Economics, University of Hawaii)

Abstract
This policy brief is intended to provide policymakers with a summary of the results of our research project entitled "Trade, Growth and Economic Inequality in the Asia-Pacific Region", which explores and documents the linkages between international trade and inequality in the Asia-Pacific Region (APR). The project's eleven research papers will appear in a special issue of the Journal of Asian Economics in February, 2017. Overall we conclude that the relationships between international trade, foreign direct investment (FDI), economic growth and inequality are extremely complicated, so no single theory should be relied upon for policy guidance across all APR countries with their varying stages of development and unique characteristics. Our studies find some evidence that trade or FDI contribute to inequality, some evidence that it reduces inequality and some evidence of no causal relationship. These seemingly conflicting results are not at all surprising given the complex relationships involved and the different countries, time periods, and means of measuring inequality, trade and FDI our authors adopted. Our main takeaway for policymakers is to be wary of both anti-trade and pro-trade advocates who provide "one size fits all" advice related to trade, FDI and inequality; these economic relationships are much too complex for that.

Suggested Citation

  • Theresa Greaney & Baybars Karacaovali, 2016. "Trade, Growth and Economic Inequality in the AsiaPacific Region: Lessons for Policymakers," Working Papers 201624, University of Hawaii at Manoa, Department of Economics.
    • Handle: RePEc:hai:wpaper:201624
    as

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    File URL: http://www.economics.hawaii.edu/research/workingpapers/WP_16-24.pdf
    File Function: First version, 2016 12
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    References listed on IDEAS

    as
    1. Kiyota, Kozo & Maruyama, Sawako, 2017. "ICT, offshoring, and the demand for part-time workers: The case of Japanese manufacturing," Journal of Asian Economics, Elsevier, vol. 48(C), pages 75-86.
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    Cited by:

    1. Yao Li & Yugang He, 2024. "Unraveling Korea’s Energy Challenge: The Consequences of Carbon Dioxide Emissions and Energy Use on Economic Sustainability," Sustainability, MDPI, vol. 16(5), pages 1-29, March.
    2. Adella Siti Nursaliyawati & Siskarossa Ika Oktora, 2022. "Simultaneous Relationship between Financial Inclusion, Economic Growth, and Income Inequality in Sulawesi Island, 2011–2019," Economics and Finance in Indonesia, Faculty of Economics and Business, University of Indonesia, vol. 68, pages 132-148, Desember.

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    More about this item

    Keywords

    International trade; foreign direct investment; economic growth; economic inequality;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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