Tony Venables
University of Oxford, Economics, Faculty Member
Research Interests:
Research Interests:
Research Interests:
The population of South Asia lives almost entirely in one mega-country or two large ones. In contrast, the rather smaller population of sub-Saharan Africa is spread across some fifty countries. Does this political fragmentation have... more
The population of South Asia lives almost entirely in one mega-country or two large ones. In contrast, the rather smaller population of sub-Saharan Africa is spread across some fifty countries. Does this political fragmentation have economic consequences? We suggest that both private economic activity and the provision of public goods benefit from powerful scale economies that confer advantages on the South Asian model. Paradoxically, although as a result Africa has a greater need than other regions for supra-national power structures, it has far less made less progress towards regional unity. Views expressed are those of the authors and do not represent institutional positions. Thanks to Mauro Caselli, Lisa Chauvet, Anke Hoeffler, Hyesung Kim and Jean-Louis Warnholz for statistical analysis. * Director, Centre for the Study of African Economies, Oxford University *** Oxford University and Chief Economist, UK Department for International Development.
Research Interests:
Research Interests:
... an equilibrium the observed matrix of firms' market shares in different countries as an equilbrium. ... trade matrix, the implicit trade barriers or demand differences consistent with the equilibrium, are going to be lower in... more
... an equilibrium the observed matrix of firms' market shares in different countries as an equilbrium. ... trade matrix, the implicit trade barriers or demand differences consistent with the equilibrium, are going to be lower in case II than in case AJ Venables, The economic integration of ...
Research Interests:
... an equilibrium the observed matrix of firms' market shares in different countries as an equilbrium. ... trade matrix, the implicit trade barriers or demand differences consistent with the equilibrium, are going to be lower in... more
... an equilibrium the observed matrix of firms' market shares in different countries as an equilbrium. ... trade matrix, the implicit trade barriers or demand differences consistent with the equilibrium, are going to be lower in case II than in case AJ Venables, The economic integration of ...
Research Interests:
Research Interests:
We consider a Heckscher-Ohlin model in which goods and factors of production can be traded, but trade involves transactions costs. Goods trade alone will not equalize factor prices, so there is an incentive for trade in factors of... more
We consider a Heckscher-Ohlin model in which goods and factors of production can be traded, but trade involves transactions costs. Goods trade alone will not equalize factor prices, so there is an incentive for trade in factors of production. Whether goods or factors are traded depends on endowments and transactions costs. We characterize equilibria in which there is no trade,
Research Interests:
Research Interests:
Research Interests:
The UNU-Wider project on ‘Spatial disparities in development’, directed by Ravi Kanbur and Anthony J. Venables, has analyzed evidence on the extent of spatial inequalities in over 50 developing countries. The peer reviewed papers... more
The UNU-Wider project on ‘Spatial disparities in development’, directed by Ravi Kanbur and Anthony J. Venables, has analyzed evidence on the extent of spatial inequalities in over 50 developing countries. The peer reviewed papers published under the auspices of the project find that spatial inequalities are high, with disparities between rural and urban areas, and also between geographically advantaged and disadvantaged regions. In many countries such disparities are increasing, partly as a consequence of the uneven impact of trade openness and globalization. While there are efficiency gains from the concentration of economic activity in urban centers and in coastal districts, the associated regional inequalities are a major contributor to overall inequality. They are particularly worrying if they align with political or ethnic divisions. The broad outline of appropriate policy for managing high and rising spatial disparities is also clear. The case for policy interventions to ensure a more spatially equitable allocation of infrastructure and public services, and for policies to ensure freer migration, has been made powerfully in the papers in this project.
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
... Jan Krysztof Bielecki Marc Hendriks Kermit Schoenholtz Diane Coyle Bengt Holmström Miguel Sebastián Gascón Kevin Darlington Jan Häggström Andrew Smith Quentin Davies Giles Keating Juha Tarkka Bernard Dewe Mathews John Lipsky Philippe... more
... Jan Krysztof Bielecki Marc Hendriks Kermit Schoenholtz Diane Coyle Bengt Holmström Miguel Sebastián Gascón Kevin Darlington Jan Häggström Andrew Smith Quentin Davies Giles Keating Juha Tarkka Bernard Dewe Mathews John Lipsky Philippe Weil ...
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
This paper argues that the contribution of trade preferences to economic development needs to be reappraised in light of the growth of globalised trade in manufactures. Trade preferences may be able to act as a catalyst for manufacturing... more
This paper argues that the contribution of trade preferences to economic development needs to be reappraised in light of the growth of globalised trade in manufactures. Trade preferences may be able to act as a catalyst for manufacturing exports, leading to rapid growth in exports and employment. To do so, preferences need to be designed to be consistent with international
Research Interests:
ABSTRACT Classic trade questions are reconsidered by generalizing a factor-proportions model to multiple countries, multi-stage production, and country-specific trade costs. We derive patterns of production specialization and trade for a... more
ABSTRACT Classic trade questions are reconsidered by generalizing a factor-proportions model to multiple countries, multi-stage production, and country-specific trade costs. We derive patterns of production specialization and trade for a matrix of countries that differ in relative endowments (columns) and trade costs (rows). We demonstrate how the ability to fragment production and/or a proportional change in all countries’ trade costs alters these patterns. Production specialization and the volume of trade are higher with fragmentation for most countries but interestingly, for a large block of countries, these variables fall following fragmentation. Countries with moderate trade costs engage in market-oriented assembly, while those with lower trade costs engage in export-platform production. These two cases correspond to the concepts of horizontal and vertical affiliate production in the literature on multinational enterprises. Increases in specialization and the volume of trade accelerate as trade costs go to zero with and without fragmentation. Classification-
Research Interests:
Research Interests:
22 INTEGRATION AND THE COMPETITIVENESS OF PERIPHERAL INDUSTRY PR Krugman and AJ Venables As the Southern European countries enter the European Community, a key question is how that entry will affect the competitiveness of their manu- ...
Research Interests:
This paper addresses the efficient management of natural resource revenues in capital-scarce developing economies. It departs from usual prescriptions based on the permanent income hypothesis and argues that capital-scarce countries... more
This paper addresses the efficient management of natural resource revenues in capital-scarce developing economies. It departs from usual prescriptions based on the permanent income hypothesis and argues that capital-scarce countries should prioritize domestic investment. Because revenue streams are highly volatile, governments should protect consumption from shocks by increasing it only cautiously. Volatility in domestic investment can be moderated by a
Research Interests:
ABSTRACT