Exploring the Links Between Transaction Costs, income Distribution and Economic Performance in a Case Study for Colombia

Maurizio Bussolo and John Whalley

Economie Internationale, 2003, issue 94-95, 235-260

Abstract: Standard international trade models have consistently produced results that, compared ex post with real world data, show the right sign but much smaller magnitudes. Besides, for the case of developing countries, these same models predict that unskilled labour would gain from liberalization, and this too contrasts with empirical evidence. This paper proposes a new approach by considering transaction costs reductions as an important factor explaining developing countries' actual performances.

Keywords: International Trade; Transaction Costs; Simulation Models; Income Distribution (search for similar items in EconPapers)
JEL-codes: D58 F11 F13 O10 O54 (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (3)

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