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Tuesday, 11 Jan 2011

Stack of economics books

Stack of economics books

Stack of economics books

Economic rationale

The main role for Government is to set the framework within which business can respond creatively to the challenges and opportunities of a challenging global environment.

The evidence base for trade development and investment is clearly set out in DTI Economics Paper 18.

The evidence rested on three criteria:

  • there are benefits to the UK economy from increased international trade and investment

  • there are barriers, or market failures, which prevent the private sector from achieving the full potential benefits unaided

  • effective action by government to address these barriers can generate benefits sufficiently large to warrant the cost.

The economic evidence indicated that UKTI efforts were best focused on:

  • providing access to key contacts and networks overseas, and strengthening the social networks underpinning bilateral business connections

  • strengthening the internationalisation capabilities of innovative and high growth businesses

  • providing access to information which the private sector would be unable or unwilling to provide

  • facilitating strategic cooperation among UK businesses, including showcasing UK capabilities in new markets and strengthening the UK’s reputation in key markets and sectors.

These areas of focus were embedded in UKTI’s Strategy Prosperity in a Changing World.

Other key documents include:

2004-05 Study of the Relative Economic Benefits of UK Trade & Investment: Final Synthesis Report (March 2006)

This study was undertaken as a requirement of the 2004 Spending Review Settlement, with the purpose of seeking evidence to determine the optimum resource allocation between the two areas of UKTI activity.

UKTI Review of the Evaluation Evidence on Trade Promotion (SQW Ltd, Dec 2005)

The report provides a review of the evaluation evidence relating to UKTI’s trade promotion activities over the last twenty years, and what the evidence has to say about the relative impact and cost effectiveness of UKTI’s interventions to bring about improved export performance.

The Role of International Trade and Investment in Business Growth and Development (R. Harris and Q Cher Li, Sept 2005)

This study reviews the wider literature on International entrepreneurship; Firm-level adjustment to globalisation; and The role of government in business internationalisation.

The Review of Export Promotion (Feb 1999)

In June 1998, the Foreign Sectary and the President of the Board of Trade asked the Cabinet Secretary to oversee a review of the official arrangements for the support and promotion of exports.

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