Outsourcing

Seppo Honkapohja and Frank Westermann
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Frank Westermann: EEAG

Chapter 4 in Designing the European Model, 2009, pp 122-143 from Palgrave Macmillan

Abstract: Abstract With the fall of the Iron Curtain in Europe and the opening of China, the percentage of the world population integrated with the Western trading system has increased dramatically. Regions with very different endowments of capital and labour as well as very different commodity price ratios have been merged, creating huge potentials for gains from trade. And international trade indeed has grown rapidly. While world GDP increased by 50 per cent in nominal terms from 1990 to 2002, the trading volume grew by 90 per cent.

Keywords: Trading Volume; Commodity Price; Trading System; Nominal Term; Price Ratio (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-23665-3_5

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DOI: 10.1057/9780230236653_5

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