By Carlos M. Peláez, Carlos A. Peláez (eds.)
Read or Download Globalization and the State: Volume II: Trade Agreements, Inequality, the Environment, Financial Globalization, International Law and Vulnerabilities PDF
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Extra resources for Globalization and the State: Volume II: Trade Agreements, Inequality, the Environment, Financial Globalization, International Law and Vulnerabilities
Example text
The group consisting of Saudi Arabia, Kuwait and the UAE may have acted jointly to compensate for production behavior by other OPEC members. There are doubts on whether OPEC has the information to anticipate and act in response to market impulses.
The secretariat of ASEAN initiates and coordinates activities of the institution. There are various centers of excellence in ASEAN capitals. The leaders of ASEAN have been following national and regional approaches to development of capital markets with the objective of promoting growth and avoiding financial crises (Plummer and Click 2005). Financial diversification is being pursued by correcting currency and maturity mismatches, pricing risk through better instruments, accessing new sources of long-term capital, better asset management and increasing the participation in world capital markets.
Robertson (2005) uses three other aspects of labor market integration: the relation between US wage shocks and Mexican wages, the speed of relative wages in returning to a long-term differential and the rate of convergence of absolute wages. There are mixed results from using these three factors. Robertson (2005) uses trade, FDI and migration, concluding that trade and FDI affect labor integration positively. The increasing border patrol after NAFTA hides the positive effects of trade and FDI. There are short-term effects of PTAs in the form of displaced workers and closed plants and long-term gains of efficiency by owners of competitive plants and consumers of final and intermediate goods (Trefler 2004).
