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Grubel–Lloyd Index
The Grubel–Lloyd index measures intra-industry trade of a particular product. It was introduced by Herb Grubel and Peter Lloyd in 1971. GL_i = \dfrac = 1 - \dfrac \qquad ;\ 0 \leq GL_i \leq 1 where ''Xi'' denotes the export An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an ..., ''Mi'' the import of good ''i''. If ''GLi'' = 1, there is a good level of intra-industry trade. This means for example the Country in consideration Exports the same quantity of good ''i'' as much as it Imports. Conversely, if ''GLi'' = 0, there is no intra-industry trade at all. This would mean that the Country in consideration only either Exports or only Imports good ''i''. References * * International trade theory {{international-trade-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intra-industry Trade
Intra-industry trade refers to the exchange of similar products belonging to the same industry. The term is usually applied to international trade, where the same types of goods or services are both imported and exported. Examples Examples of this kind of trade include automobiles, foodstuffs and beverages, computers and minerals. Europe exported 2.6 million motor vehicles in 2002, and imported 2.2 million of them. Japan exported 4.7 million vehicles in 2002 (1 million of which went to Europe, and 2 million to North America), and imported 0.3 million. Explanation Why do countries at the same time import and export the products of the same industry, or import and export the same kinds of goods? According to Nigel Grimwade, "An explanation cannot be found within the framework of classical or neo-classical trade theory. The latter predicts only inter-industry specialisation and trade". However, this is far from the case. The traditional model of trade were set out by the model of D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Herb Grubel
Herbert Gunter Grubel (born February 26, 1934) is a Canadian professor, economist, writer, and former politician. He represented the electoral district of Capilano—Howe Sound in the House of Commons of Canada from 1993 to 1997. Grubel was born in Frankfurt, Germany. As a member of the Reform Party, Grubel defeated former federal cabinet minister Mary Collins in the 1993 election, pushing her into third place. He served as the party's finance critic from 1995 to 1997, and was controversial for his outspoken support of Canada moving toward a flat tax system. Grubel did not run in the 1997 election. As of 2011 he is professor emeritus of economics at Simon Fraser University and senior fellow of the Fraser Institute. He has also worked at the economic faculties of Yale, Stanford, the University of Chicago and the University of Pennsylvania. Grubel has published 27 books and more than 130 professional articles in economics, dealing with international trade and finance and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter Lloyd (economist)
Peter Lloyd may refer to: * Peter Lloyd (mountaineer) (1907–2003), British climber and engineer * Peter Lloyd (aviator) (1920–2022), Australian sporting aviator and administrator * Peter Lloyd (commentator) (1920–not later than 1976), British television football commentator * Peter Lloyd (gymnast) (born 1949), Australian Olympic gymnast * Sir Peter Lloyd (politician) (born 1937), British Conservative Party politician, Member of Parliament, 1979–2001 * Peter Lloyd (illustrator) (1944–2009), British-born American illustrator * Peter Lloyd (journalist) Peter Lloyd (born 1966) is a journalist and was senior producer for the Australian Broadcasting Corporation's news and current affairs program ''Lateline''. He was previously the ABC's South Asia correspondent based in New Delhi, from where he r ... (born 1966), foreign correspondent for the Australian Broadcasting Corporation * Peter Lloyd (tennis), Australian tennis player {{Hndis, name=Lloyd, Peter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Export
An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an ''exporter''; the foreign buyer is an '' importer''. Services that figure in international trade include financial, accounting and other professional services, tourism, education as well as intellectual property rights. Exportation of goods often requires the involvement of customs authorities. Firms Many manufacturing firms begin their global expansion as exporters and only later switch to another mode for serving a foreign market. Barriers There are four main types of export barriers: motivational, informational, operational/resource-based, and knowledge. Trade barriers are laws, regulations, policy, or practices that protect domestically made products from foreign competition. While restrictive business practices sometimes hav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Import
An import is the receiving country in an export from the sending country. Importation and exportation are the defining financial transactions of international trade. In international trade, the importation and exportation of goods are limited by import quotas and mandates from the customs authority. The importing and exporting jurisdictions may impose a tariff (tax) on the goods. In addition, the importation and exportation of goods are subject to trade agreements between the importing and exporting jurisdictions. History Definition Imports consist of transactions in goods and services to a resident of a jurisdiction (such as a nation) from non-residents. The exact definition of imports in national accounts includes and excludes specific "borderline" cases. Importation is the action of buying or acquiring products or services from another country or another market other than own. Imports are important for the economy because they allow a country to supply nonexistent, scarc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
