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Bias
1. Bias of technology, either change or difference, refers to a shift towards or away from use of a factor. The exact meaning depends on the definition of neutral used to define absence of bias. Factor bias matters for the effects of technological progress on trade and welfare. 2. Bias of a trade regime refers to whether the structure of protection favours importables or exportables, based on comparing their effective rates of protection. If these are equal, the trade regime is said to be neutral. 3. Bias of growth refers to economic growth through factor accumulation and/or technological progress and whether if favours one sector or another. Growth is said to be export biassed if the export sector expands faster than the rest of the economy, import biassed if the import-competing sector does so.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
- Product:
- Acronym-Abbreviation:
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