Key to dynamic dating


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Much has been written over the past few years about the negative effects of free trade and the need to pay more attention to those who benefit less from it.

The debate has typically focused on the extent to which welfare policies can be used to share the gains of trade more evenly.

Given the established gains of trade, this is plainly a concerning trend for the global economy.

International trade results in a more efficient use of production factors and in specialisation where comparative advantage exists, thereby raising productivity growth.

There are a number of areas in which domestic policies can encourage an upward shift in productivity growth, such as competition, research and development, and insolvency regimes.