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When comparative advantage is not enough:business costs in small remote economies
journal contribution
posted on 2023-06-08, 00:59 authored by L. Alan WintersL. Alan Winters, Pedro M G MartinsThis paper uses a newly collected dataset on business costs to investigate empirically whether small and remote economies are inherently uncompetitive. Although in theory these economies can overcome their small size by specialising and trading, this may not be enough to generate acceptable incomes because they face a combination of diseconomies of small scale and high transaction costs. We conclude that there are almost certainly some very small economies for which this is true. These economies are likely to become less attractive for commercial activities as globalization proceeds and their current trade preferences are eroded. The policy solution is not protection, however, but proactive policies from the international community.
History
Publication status
- Published
Journal
World Trade ReviewISSN
1474-7456External DOI
Issue
3Volume
3Page range
347-383Pages
37.0Department affiliated with
- Economics Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2012-02-06Usage metrics
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