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Moral Markets: The Critical Role of Values in the Economy

introduces a gender context to the Singer-Prebisch hypothesis that North-South trade often results in declining terms of trade for the South when the latter exports mostly primary goods. This study argues that the net-barter-terms of trade of Southern countries that specialize in low-skilled manufacturing exports are linked to the extent of gender discrimination in the labor market. A combination of large gender wage gaps and increasing concentration of female labor in low-skilled production results in low product prices for exports coming from the Southern countries. This low price in turn, causes a decline in the net terms of trade. The study presents cross-country empirical evidence, which shows that a decline in the gender wage gap in the South relative to the North has a positive impact on the net barter terms of trade of the South. The empirical findings make a case for coordinated efforts amongst Southern countries to reduce labor market discrimination. The book also presents several country level analyses of the impact of trade liberalization on gender inequality. In chapter 7, a computable general equilibrium model is used to show that in Zambia and Bangladesh, trade-induced increases in women's labor market participation tends to have a negative impact on women's ability to spend time in household production, leisure and education activities. In another study, empirical analysis of plant level data from Turkey shows a higher rate of job reallocation for women as compared to men particularly in the trade sectors, indicating a more precarious labor market environment for women. There is some analysis of the gender impact of trade on developed economies as well. Chapter 10 presents new evidence on the displacement of female manufacturing workers in 10 OECD countries due to increased low-skilled product imports from developing countries. Similarly in Chapter 11 an empirical study by Ebru Kongar finds that increased manufacturing imports has a negative impact on the female share of employment, particularly low-wage production employment. The book is mainly focused on manufacturing trade. It does not present any framework for studying gender trends in services, which has increasingly become the new battleground for trade issues. The high concentration of women in many service industries in both developed and developing economies makes a feminist exploration of trade in services particularly vital. However, the breadth of the material presented in the book does present a compelling case for incorporating gender concerns into the win-win mainstream analysis of trade and globalization.