Archive | February, 2017 EconomicsTradeInfrastructure, Trade
By Paul Vandenberg. Posted February 22, 2017
As we know from countless growth accounting studies, the ability of a country to educate and train its citizens is a key determinant of economic development. There is also fairly strong evidence at the company level that a workforce with higher human capital generates higher productivity. In other words, not only are there strong incentives for governments to educate and train people, but there are also incentives at the firm level for companies to hire more educated workers and to offer training to their existing workers. Read more.
Trade in health products has increased substantially over the past 2decades, and tariffs on health products have been lowered, making, for example, medicines more affordable for many.Indeed, Sustainable Development Goal (SDG) 3 calls upon countries to ensure healthy lives and to promote well-being for all ages. Yet in several developing countries, substantial tariffs still persist, inflating the prices of health products. The most direct and immediate contribution of the trade community toward achieving SDG 3 couldbe to open up trade unilaterally or to negotiate a plurilateral trade agreement, which would guarantee free market access for health products, like much-needed medicines. Read more.
By Marcelo Olarreaga. Posted February 2, 2017
Low-income countries are often advised to prioritize investment in their trade infrastructure to better connect to international markets, and garner the benefits of a more open trade regime. The World Bank’s Trade Facilitation Support Program and the World Trade Organization (WTO)’s Trade Facilitation Agreement, for example, promote investment in trade infrastructure to boost development prospects by improving competitiveness and lowering trade costs. Read more.
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