Search results for: free trade

Authors: Tanimola Kazeem Abiodun

Abstract:

In the paper, attempt was made to investigate the impact of international trade on economic growth at the disaggregate level both from the theoretical and economic angle. The study in its contribution examines this impact at the disaggregated level. To this end, a hypothesis was formulated to investigate the short ?run and long run impact of international trade on growth in the country. In the econometrics investigation that follow, international trade was disaggregated to export and imports and their short run and long run effect on growth was examined. Also, the aggregate international trade was also investigated to see the long run effects of its own growth. The results of the findings indicate that; both export and import impact significantly to growth in the short run. The long-run impact of export on growth was found to be positive, significant and stable both. Engle-Granger co integration test and error correlation mechanism were applied to these long run relationships. For the import, while the short run was found to be positive and significant on its impact on growth, the long run relationship was found to be negative but not significant. Therefore, it is thus recommended among others that the country should engage more on export promotion drives.

Keywords: international trade, disaggregated, import, export, econometrics, trade, economic growth, foreign trade, import, export

Procedia PDF Downloads 411

Authors: Svetlana Gusarova

Abstract:

The essential role in the recent development of world economy has led to the developing countries, notably to BRICS countries (Brazil, Russia, India, China, South Africa). Over the next 50 years the BRICS countries are expected to be the engines of global trade and economic growth. Trade cooperation of BRICS countries can enhance their economic development. BRICS countries were among Top 10 world exporters of office and telecom equipment, of textiles, of clothing, of iron and steel, of chemicals, of agricultural products, of automotive products, of fuel and mining products. China was one of the main trading partners of all BRICS countries, maintaining close relationship with all BRICS countries in the development of trade. Author analyzed trade complementarity of BRICS countries and revealed the high level of complementarity of their trade flows in connection with availability of specialization in different types of goods. The correlation and regression analysis of communication of Intra-BRICS merchandise turnover and their GDP (PPP) revealed very strong impact on the development of their economies.

Keywords: BRICS countries, trade cooperation, complementarity, regression analysis

Procedia PDF Downloads 284

Authors: Doaa El-Shereef

Abstract:

The Canaanite civilization was one of the early great civilizations of the Near East, they influenced and been influenced from the civilizations of the ancient world especially the Egyptian and Mesopotamia civilizations. The development of the Canaanite trade started from the Chalcolithic Age to the Iron Age through the oldest trade route in the Middle East. This paper will focus on defining the Canaanites and from where did they come from and the meaning of the term Canaan and how the Ancient Manuscripts define the borders of the land of Canaan and this essay will describe the Canaanite trade route and their exported goods such as cedar wood, and pottery.

Keywords: archaeology, bronze age, Canaanite, colonies, Massilia, pottery, shipwreck, vineyards

Procedia PDF Downloads 201

Authors: Andre C Jordaan

Abstract:

The end of the Cold War and rivalry between super powers has changed the nature of military build-up in many countries. A call from international institutions like the United Nations, International Monetary Fund and the World Bank to reduce the levels of military expenditure was the order of the day. However, this bid to cut military expenditure has not been forthright. Recently, active armed conflicts occurred in at least 46 states in 2021 with 8 in the Americas, 9 in Asia and Oceania, 3 in Europe, 8 in the Middle East and North Africa and 18 in sub-Saharan Africa. Global military expenditure in 2022 was estimated to be US$2,2 trillion, representing 2.2 per cent of global gross domestic product. Particularly sharp rises in military spending have followed in African countries and the Middle East. Global military expenditure currently follows two divergent trends, either a declining trend in the West caused mainly by austerity, efforts to control budget deficits and the wrapping up of prolonged wars. However, some parts of the world shows an increasing trend on the back of security concerns, geopolitical ambitions and some internal political factors. Conflict related fatalities in sub-Saharan Africa alone increased by 19 per cent between 2020 and 2021. The interaction between military expenditure (read conflict) and international trade is generally the cause of much debate. Some argue that countries’ fear of losing trade opportunities causes political decision makers to refrain from engaging in conflict when important trading partners are involved. However, three main arguments are always present when discussing the relationship between military expenditure or conflicts and international trade: Free trade could promote peaceful cooperation, it could trigger tension between trading blocs and partners, and trade could have no effect because conflict is based on issues that are more important. Military expenditure remains an important element of the overall government expenditure in many African countries. On the other hand, numerous researchers perceive increased international trade to be one of the main factors promoting economic growth in these countries. The purpose of this paper is therefore to determine what effect, if any, exist between the level of military expenditure and international trade within a selection of 19 African countries. Applying an augmented gravity model to explore the relationship between military expenditure and international trade, evidence is found to confirm the existence of an inverse relationship between these two variables. It seems that the results are in line with the Liberal school of thought where trade is seen as an instrument of conflict prevention. Trade is therefore perceived as a symptom of peace and not a cause thereof. In general, conflict or rumors of conflict tend to reduce trade. If conflict did not impede trade, economic agents would be indifferent to risk. Many claim that trade brings peace, however, it seems that it is rather peace that brings trade. From the results, it appears that trade reduces the risk of conflict and that conflict reduces trade.

Keywords: African countries, conflict, international trade, military expenditure

Procedia PDF Downloads 65

Authors: Mosses E. Lufuke, Lorna M. Kamau

Abstract:

This paper attempted to assess whether the size of the regional economic bloc has an impact to the flow of trade to a particular country. Two different sized blocs (COMESA and EAC) and one country (Tanzania) have been used as the point of references. Using the results from of the analyses, the paper also was anticipated to establish whether it was rational for Tanzania to withdraw its membership from COMESA (the larger bloc) to join EAC (the small one). Gravity model has been used to estimate the relationship between the variables, from which the bilateral trade flows between Tanzania and the eighteen member countries of the two blocs (COMESA and EAC) was employed for the time between 2000 and 2013. In the model, the dummy variable for regional bloc (bloc) at which the Tanzania trade partner countries belong are also added to the model to understand which trade bloc exhibit higher trade flow with Tanzania. From the findings, it was noted that over the period of study (2000-2013) Tanzania acknowledged more than 257% of trade volume in EAC than in COMESA. Conclusive, it was noted that the flow of trade is explained by many other variables apart from the size of regional bloc; and that the size by itself offer insufficient evidence in causality relationship. The paper therefore remain neutral on such staggered switching decision since more analyses are required to establish the country’s trade flow, especially when if it had been in multiple membership of COMESA and EAC.

Keywords: economic bloc, flow of trade, size of bloc, switching

Procedia PDF Downloads 248

Authors: Taimoor Hussain Alvi, Syed Toqueer Akhter

Abstract:

The focus of this research is to identify Pak-India bilateral trade spillover effects upon Pakistan’s Growth rate. Cross-country spillover growth Effects have been linked with openness and access to markets. In this research, we intend to see the short run and long run effects of Pak-India Bilateral Trade Openness upon economic growth in Pakistan. Trade Openness has been measured as the sum of bilateral exports and imports between the two countries. Increased emphasis on the condition and environment of financial markets is laid in light of globalization and trade liberalization. This research paper makes use of the Univariate Autoregressive Distributed Lagged Model to analyze the effects of bilateral trade variables upon the growth pattern of Pakistan in the short run and long run. Key findings of the study empirically support the notion that increased bilateral trade will be beneficial for Pakistan in the short run because of cost advantage and knowledge spillover in terms of increased technical and managerial ability from multinational firms. However, contrary to extensive literature, increased bilateral trade measures will affect Pakistan’s growth rate negatively in the long run because of the industrial size differential and increased integration of Indian economy with the world.

Keywords: bilateral trade openness, spillover, comparative advantage, univariate

Procedia PDF Downloads 484

Authors: Kgolagano Mpejane

Abstract:

The study applies a New Institutional Economics (NIE) analytical framework to trade in developing economies by assessing the impacts of institutional quality and institutional quality distance on agricultural trade using a panel data of 15 Southern African Development Community (SADC) countries from the years 1991-2010. The issue of institutions on agricultural trade has not been accorded the necessary attention in the literature, particularly in developing economies. Therefore, the paper empirically tests the gravity model of international trade by measuring the impact of political, economic and legal institutions on intra SADC agricultural trade. The gravity model is noted for its exploratory power and strong theoretical foundation. However, the model has statistical shortcomings in dealing with zero trade values and heteroscedasticity residuals leading to biased results. Therefore, this study employs a two stage Heckman selection model with a Probit equation to estimate the influence of institutions on agricultural trade. The selection stages include the inverse Mills ratio to account for the variable bias of the gravity model. The Heckman model accounts for zero trade values and is robust in the presence of heteroscedasticity. The empirical results of the study support the NIE theory premise that institutions matter in trade. The results demonstrate that institutions determine bilateral agricultural trade on different margins with political institutions having positive and significant influence on bilateral agricultural trade flows within the SADC region. Legal and economic institutions have significant and negative effects on SADC trade. Furthermore, the results of this study confirm that institutional quality distance influences agricultural trade. Legal and political institutional distance have a positive and significant influence on bilateral agricultural trade while the influence of economic, institutional quality is negative and insignificant. The results imply that nontrade barriers, in the form of institutional quality and institutional quality distance, are significant factors limiting intra SADC agricultural trade. Therefore, gains from intra SADC agricultural trade can be attained through the improvement of institutions within the region.

Keywords: agricultural trade, institutions, gravity model, SADC

Procedia PDF Downloads 149

Authors: Wenjuan Lu

Abstract:

China and Hungary have risen from a friendly and comprehensive cooperative relationship to a comprehensive strategic partnership in recent years, and the economic and trade relations between the two countries have developed smoothly. As an important country along the ‘Belt and Road’, Hungary and China have strong economic complementarities and have unique advantages in carrying China's industrial transfer and economic transformation and development. The construction of the China-Hungary Economic and Trade Cooperation Zone, which was initiated by the ‘Sino-Hungarian Borsod Industrial Zone’ and the ‘Hungarian Central European Trade and Logistics Cooperation Park’ has promoted infrastructure construction, optimized production capacity, promoted industrial restructuring, and formed brand and agglomeration effects. Enhancing the influence of Chinese companies in the European market has also promoted economic development in Hungary and even in Central and Eastern Europe. However, as the China-Hungary Economic and Trade Cooperation Zone is still in its infancy, there are still shortcomings such as small scale, single function, and no prominent platform. In the future, based on the needs of China's cooperation with ‘17+1’ and China-Hungary cooperation, on the basis of appropriately expanding the scale of economic and trade cooperation zones and appropriately increasing the number of economic and trade cooperation zones, it is better to focus on optimizing and adjusting its functions and highlighting different economic and trade cooperation. The differentiated function of the trade zones strengthens the multi-faceted cooperation of economic and trade cooperation zones and highlights its role as a platform for cooperation in information, capital, and services.

Keywords: ‘One Belt, One Road’ Initiative, China-Hungary economic and trade cooperation zone, function optimization, Central and Eastern Europe

Procedia PDF Downloads 180

Authors: Sadife Güngör, Sevilay Konya, Zeynep Karaçor

Abstract:

Inflation and foreign trade are the most important economic indicator of a country. In this study, Turkey's economy with the policies adopted after 2000, given how performs an economic transformation. This transformation of the economy is discussed with inflation and foreign trade. In this context, attention is drawn to 2001 Strong Economy and Transition Program and 2006 Inflation Targeting Regime. The evaluation was performed of after the year 2000 inflation and foreign trade figures in Turkey economy. When we looked the progress, after 2000 in Turkey economy, we can say a new process was built up.

Keywords: inflation, foreign trade, 2001 strong economy programme, 2006 inflation targeting regime

Procedia PDF Downloads 359

Authors: Yalisa Tonsorn

Abstract:

The objectives of this study are 1) to study the readiness of Thai tour operators in order to prepare for being ASEAN members, 2) to study opportunity and obstacles of the management of Thai tour operators, and 3) to find approach for developing value chain in order to enhance the management efficiency of Thai tour operators in order to support free trade within the framework of ASEAN cooperation. The research methodology is mixed between qualitative method and quantitative method. In-depth interview was done with key informants, including management supervisors, medium managers, and officers of the travel agencies. The questionnaire was conducted with 300 sampling. According to the study, it was found that the approach for developing value chain to enhance the management efficiency of Thai travel agencies in order to support free trade within the framework of ASEAN cooperation, the tour operators must give priority to the customer and deliver the service exceeding the customer’s expectation. There are 2 groups of customers: 1) external customers referring to tourist, and 2) internal customers referring to staff who deliver the service to the customers, including supervisors, colleagues, or subordinates. There are 2 issues which need to be developed: 1) human resource development in order to cultivate the working concept by focusing on importance of customers, and excellent service providing, and 2) working system development by building value and innovation in operational process including services to the company in order to deliver the highest impressive service to both internal and external customers. Moreover, the tour operators could support the increased number of tourists significantly. This could enhance the capacity of the business and affect the increase of competition capability in the economic dimension of the country.

Keywords: AEC (ASEAN Economic Eommunity), core activities, support activities, values chain

Procedia PDF Downloads 352

Authors: Sarma Binti Aralas

Abstract:

The relationship between property rights and trade specialization is examined for developing and developed countries using panel data analysis. Property rights is measured using the international property rights index while trade specialization is measured using the comparative advantage index. Cross country differences in property rights are hypothesized to lead to differences in trade specialization. Based on the argument that a weak protection of natural resources implies greater trade in resource-intensive goods, developing countries with less defined property rights are hypothesized to have a comparative advantage in resource-based exports while countries with more defined property rights will not have an advantage in resource-intensive goods. Evidence suggests that developing countries with weaker environmental protection index but are rich in natural resources do specialize in the trade of resource-intensive goods. The finding suggests that institutional frameworks to increase the stringency of environmental protection of resources may be needed to diversify exports away from the trade of resource-intensive goods.

Keywords: environmental protection, panel data, renewable resources, trade specialization

Procedia PDF Downloads 450

Authors: Sadife Güngör, Sevilay Konya

Abstract:

Sustainable development is an economic development scope which covers the economic growth included environmental factors. With the help of economic development, the needs of the future generations are going to be met the needs. As it is aimed the environmental conscious, sustainable development focuses on decreasing the damage of natural sources. From this point of view, while sustainable development is environmentally conscious, it also improving the life standards of individuals. The relationship between development and foreign trade on sustainable development is theoretically searched in this study. In the second part, sustainable development at world and EU is searched and in the last part, the sustainability of trade and development in Turkey is stated.

Keywords: development, sustainable development, foreign trade, Turkey

Procedia PDF Downloads 464

Authors: Pui I. Chao, Shanju Lin

Abstract:

Purpose: Children with developmental language disorder (DLD) have persistent language difficulties and often face great challenges when demands are high. The aim of this study was to investigate whether verb frequency would trade-off with syntactic complexity when they talk. Method: Forty-five children with DLD, 45 chronological age matches with TD (AGE), and 45 MLU-matches with TD (MLU) who were Mandarin speakers were selected from the previous study. Language samples were collected under three contexts: conversation about children’s family and school, story retelling, and free play. MLU, verb density, utterance length difference, verb density difference, and average verb frequency were calculated and further analyzed by ANOVAs. Results: Children with DLD and their MLU matches produced shorter utterances and used fewer verbs in expressions than the AGE matches. Compared to their AGE matches, the DLD group used more verbs and verbs with lower frequency in shorter utterances but used fewer verbs and verbs with higher frequency in longer utterances. Conclusion: Mandarin-speaking children with DLD showed difficulties in verb usage and were more vulnerable to trade-offs than their age-matched peers in utterances with high demand. As a result, task demand should be taken into account as speech-language pathologists assess whether children with DLD have adequate abilities in verb usage.

Keywords: developmental language disorder, syntactic complexity, trade-offs, verb frequency

Procedia PDF Downloads 155

Authors: M. Barsa

Abstract:

This paper argues that current liberal trade regimes have had the unfortunate effect of concentrating food production by area and by crop. While such hyper-specialization and standardization might be efficient under ordinary climate conditions, the increasing severity of climate shocks makes such a food production system especially vulnerable. Examining domestic US crop production, and the fact that similar patterns are evident worldwide, this paper explores the vulnerabilities of several major crops and suggests that the academic arguments surrounding increasing liberalization of trade are ill-suited to the climate challenges to come. Indeed, a case can be made that protectionist measures—especially by developing countries whose agricultural sectors are vulnerable to the cheap US and European exports—are increasingly necessary to scatter food production geographically and to retain a resilient diversity of crop varieties.

Keywords: climate change, crop resilience, diversity, international trade

Procedia PDF Downloads 131

Authors: Ikpechukwu Njoku

Abstract:

The study examined appraisal of shipping trade influence on the economic growth in Nigeria from 1981-2016 by the use of secondary data collected from the Central Bank of Nigeria. The main objectives are to examine the trend of shipping trade in Nigeria as well as determine the influence of economic growth on gross domestic product (GDP). The study employed both descriptive and influential tools. The study adopted cointegration regression method for the analysis of each of the variables (shipping trade, external reserves and external debts). The results show that there is a statistically significant relationship between GDP and external reserves with p-value 0.0190. Also the result revealed that there is a statistically significant relationship between GDP and shipping trade with p-value 0.000. However, shipping trade and external reserves contributed positively at 1% and 5% level of significance respectively while external debts impacted negatively to GDP at 5% level of significance with a long run variance of cointegration regression. Therefore, the study suggests that government should do all it can to curtail foreign dominance and repatriation of profit for a more sustainable economy as well as upgrade port facilities, prevent unnecessary delays and encourage exportable goods for maximum deployment of ships.

Keywords: external debts, external reserve, GDP, shipping trade

Procedia PDF Downloads 152

Authors: Varutorn Tulnawat, Padcharee Phasuk

Abstract:

This paper investigates the issue of China’s dumping on border trade between Thailand and Laos. From the pass mostly, the border trade goods are traditional textile and garment mainly served locals and tourists which majority of traders is of small and medium size. In the present day the competition is fierce, the volume of trade has expanded far beyond its original intent. The major competitors in Thai-Laos border trade are China, Vietnam and also South Korea. This research measures and compares the efficiency and ability to survive the onslaught of Thai and Laos firm along Thailand (Nong Kai province) and Laos (Vientiane) border. Two attack strategies are observed, price cutting and incense such as full facilitation for big volume order. Data Envelopment Analysis (DEA) is applied to data surveyed from 90 Thai and Laos entrepreneurs. The expected results are the proportion of efficiency and inefficiency firms. Points of inefficiency and suggested improvement are also discussed.

Keywords: border trade, dea, textile, garment

Procedia PDF Downloads 246

Authors: Chin-Ho Lin

Abstract:

This study explores the impact of technical barriers to trade(TBT) on the import value and weight of 54 types of waste products between ASEAN+6 countries and 200 trading partners from 1999–to 2018. By using disaggregated detailed product data and the gravity model, we obtained results demonstrating that implementation of TBT by importing countries is likely to enhance waste trade. After controlling for three combinations of fixed effects, the results remain robust. We consider the quality of waste products by dividing waste products into recyclable and nonrecyclable materials, revealing that imported recyclable waste is more likely to be imported than nonrecyclable waste. When waste trade isregulated by importing countries through TBT implementation, the exporting countries may export relatively valuable waste products, and recyclable waste is of greater economic value because it can be used as an input in other production processes. Finally, developed countries are more likely than developing countries to export waste to the ASEAN+6countries, a finding that supports the waste haven hypothesis.

Keywords: waste trade, ASEAN+6, technical barriers to trade, gravity model, waste haven hypothesis

Procedia PDF Downloads 120

Authors: Sophia Hayes, Kenny L. Liang, Sahil Sharma, Austin Shema, Mahmoud Bader, Mohamed Elbarkouky

Abstract:

Despite being one of the most significant economic contributors of the country, Canada’s construction industry is lagging behind other sectors when it comes to labor productivity improvements. The construction industry is very collaborative as a general contractor, will hire trade contractors to perform most of a project’s work; meaning low productivity from one contractor can have a domino effect on the shared success of a project. To address this issue and encourage trade contractors to improve their productivity tracking methods, an investigative study was done on the productivity views and tracking methods of various trade contractors. Additionally, an in-depth review was done on four standard tracking methods used in the construction industry: cost codes, benchmarking, the job productivity measurement (JPM) standard, and WorkFace Planning (WFP). The four tracking methods were used as a baseline in comparing the trade contractors’ responses, determining gaps within their current tracking methods, and for making improvement recommendations. 15 interviews were conducted with different trades to analyze how contractors value productivity. The results of these analyses indicated that there seem to be gaps within the construction industry when it comes to an understanding of the purpose and value in productivity tracking. The trade contractors also shared their current productivity tracking systems; which were then compared to the four standard tracking methods used in the construction industry. Gaps were identified in their various tracking methods and using a framework; recommendations were made based on the type of trade on how to improve how they track productivity.

Keywords: labor productivity, productivity tracking methods, trade contractors, construction

Procedia PDF Downloads 194

Authors: V. S. S. Kumar, B. Vikram

Abstract:

The development of effective decision support tools that adopted in the construction industry is vital in the world we live in today, since it can lead to substantial cost reduction and efficient resource consumption. Solving the time-cost trade off problems and its related variants is at the heart of scientific research for optimizing construction planning problems. In general, the classical optimization techniques have difficulties in dealing with TCT problems. One of the main reasons of their failure is that they can easily be entrapped in local minima. This paper presents an investigation on the application of meta-heuristic techniques to two particular variants of the time-cost trade of analysis, the time-cost trade off problem (TCT), and time-cost trade off optimization problem (TCO). In first problem, the total project cost should be minimized, and in the second problem, the total project cost and total project duration should be minimized simultaneously. Finally it is expected that, the optimization models developed in this paper will contribute significantly for efficient planning and management of construction project.

Keywords: fuzzy sets, uncertainty, optimization, time cost trade off problems

Procedia PDF Downloads 357

Authors: Qaiser Munir, Hamid Hussain

Abstract:

Oil prices are believed to have a major impact on several economic indicators, leading to several instances where a comparison between oil prices and a trade deficit of oil-importing countries have been carried out. Building upon the narrative, this paper sheds light on the ongoing debate by inquiring upon the possibility of asymmetric linkages between oil prices, industrial production, exchange rate, whole price index, and trade deficit. The analytical tool used to further understand the complexities of a recent approach called nonlinear auto-regressive distributed lag model (NARDL) is utilised. Our results suggest that there are significant asymmetric effects among the main variables of interest. Further, our findings indicate that any variation in oil prices, industrial production, exchange rate, and whole price index on trade deficit tend to fluctuate in the long run. Moreover, the long-run picture denotes that increased oil price leads to a negative impact on the trade deficit, which, in its true essence, is a disproportionate impact. In addition to this, the Wald test simultaneously conducted concludes the absence of any significant evidence of the asymmetry in the oil prices impact on the trade balance in the short-run.

Keywords: trade deficit, oil prices, developing economy, NARDL

Procedia PDF Downloads 134

Authors: Muhammad Sameer Ahmed, Piotr Remlein, Tansal Gucluoglu

Abstract:

The technique called as Generalized frequency division multiplexing (GFDM) used in the free space optical channel can be a good option for implementation free space optical communication systems. This technique has several strengths e.g. good spectral efficiency, low peak-to-average power ratio (PAPR), adaptability and low co-channel interference. In this paper, the impact of weather conditions such as haze, rain and fog on GFDM over the gamma-gamma channel model is discussed. A Trade off between link distance and system performance under intense weather conditions is also analysed. The symbol error probability (SEP) of GFDM over the gamma-gamma turbulence channel is derived and verified with the computer simulations.

Keywords: free space optics, generalized frequency division multiplexing, weather conditions, gamma gamma distribution

Procedia PDF Downloads 175

Authors: Semanur Soyyigit Kaya, Ercan Eren

Abstract:

Energy has a prominent role for development of nations. Countries which have energy resources also have strategic power in the international trade of energy since it is essential for all stages of production in the economy. Thus, it is important for countries to analyze the weakness and strength of the system. On the other side, it is commonly believed that international trade has complex network properties. Complex network is a tool for the analysis of complex systems with heterogeneous agents and interaction between them. A complex network consists of nodes and the interactions between these nodes. Total properties which emerge as a result of these interactions are distinct from the sum of small parts (more or less) in complex systems. Thus, standard approaches to international trade are superficial to analyze these systems. Network analysis provides a new approach to analyze international trade as a network. In this network countries constitute nodes and trade relations (export or import) constitute edges. It becomes possible to analyze international trade network in terms of high degree indicators which are specific to complex systems such as connectivity, clustering, assortativity/disassortativity, centrality, etc. In this analysis, international trade of crude oil and coal which are types of fossil fuel has been analyzed from 2005 to 2014 via network analysis. First, it has been analyzed in terms of some topological parameters such as density, transitivity, clustering etc. Afterwards, fitness to Pareto distribution has been analyzed. Finally, weighted HITS algorithm has been applied to the data as a centrality measure to determine the real prominence of countries in these trade networks. Weighted HITS algorithm is a strong tool to analyze the network by ranking countries with regards to prominence of their trade partners. We have calculated both an export centrality and an import centrality by applying w-HITS algorithm to data.

Keywords: complex network approach, fossil fuel, international trade, network theory

Procedia PDF Downloads 337

Authors: Yao Wu

Abstract:

In the context of financial globalization, China has put forward the policy goal of high-quality development, and the digital economy, with its advantage of information resources, is driving China's export trade to achieve high-quality development. Due to the long-standing financing constraints of small and medium-sized export enterprises, how to expand the export scale of small and medium-sized enterprises has become a major threshold for the development of China's export trade. This paper firstly adopts the hierarchical analysis method to establish the evaluation system of high-quality development of China's export trade; secondly, the panel data of 30 provinces in China from 2011 to 2018 are selected for empirical analysis to establish the impact model of digital inclusive finance on the high-quality development of China's export trade; based on the analysis of heterogeneous enterprise trade model, a mediating effect model is established to verify the mediating role of credit constraint in the development of high-quality export trade in China. Based on the above analysis, this paper concludes that inclusive digital finance, with its unique digital and inclusive nature, alleviates the credit constraint problem among SMEs, enhances the binary marginal effect of SMEs' exports, optimizes their export scale and structure, and promotes the high-quality development of regional and even national export trade. Finally, based on the findings of this paper, we propose insights and suggestions for inclusive digital finance to promote the high-quality development of export trade.

Keywords: digital inclusive finance, high-quality development of export trade, fixed effects, binary marginal effects

Procedia PDF Downloads 95

Authors: Sarina Zainab Shirazi

Abstract:

Abstract— With the advent of globalization, different countries have liberalized their trade policies to enhance economic integration and developmental processes but the advantages accrued vary greatly from region to region. This study specifically examines European Union (EU) and Association for South East Asian Nations (ASEAN), two regions that show contrasting integration patterns. EU shows most successful integrations versus the slower paced integration in the ASEAN region. A comprehensive panel data empirical investigation of EU and ASEAN in the context of economy size, geographical distances, language, ethnicity, common border and regional trade agreements (RTA) is conducted for a period of 1985 – 2015. The empirical investigation through the augmented gravity equation shows that the real effectiveness for enhanced intra-regional trade is significant when specific examination of export and import components is conducted in the presence of non-tariff barriers. These barriers surface in the form of terms of trade openness, inflation, exchange rate, common borders, common language, ethnic similarity, and presence of a formal regional trade agreement (RTA). Thus, these factors can be utilized by the EU and ASEAN regions in order to formulate effective policy tools to enhance trade within their respective spheres of influence.

Keywords: Association for South East Asian Nations, European Union, Gravity Model, Regional Trade

Procedia PDF Downloads 120

Authors: Anisul Islam

Abstract:

The U.S. has a very strong trade relationship with China but with a large and persistent trade deficit. Some has argued that the undervalued Chinese Yuan is to be blamed for the persistent trade deficit. The empirical results are mixed at best. This paper empirically estimates the U.S. export function along with the U.S. import function with its trade with China with the purpose of testing for the existence of the Marshall-Lerner (ML) condition as well for the possible existence of the J-curve hypothesis. Annual export and import data will be utilized for as long as the time series data exists. The export and import functions will be estimated using advanced econometric techniques, along with appropriate diagnostic tests performed to examine the validity and reliability of the estimated results. The annual time-series data covers from 1975 to 2022 with a sample size of 48 years, the longest period ever utilized before in any previous study. The data is collected from several sources, such as the World Bank’s World Development Indicators, IMF Financial Statistics, IMF Direction of Trade Statistics, and several other sources. The paper is expected to shed important light on the ongoing debate regarding the persistent U.S. trade deficit with China and the policies that may be useful to reduce such deficits over time. As such, the paper will be of great interest for the academics, researchers, think tanks, global organizations, and policy makers in both China and the U.S.

Keywords: exports, imports, marshall-lerner condition, j-curve hypothesis, united states, china

Procedia PDF Downloads 65

Authors: Simegn Alemayehu Ayele

Abstract:

Abstract: On November 4, 2020, the Ethiopian government launched a military operation against the Tigray People's Liberation Front (TPLF) in Ethiopia's Tigray Province, sparking the beginning of the Tigray War. This study focuses on the most recent Tigray War as it explores the effects of the civil war on Ethiopia's import and export activity. This study examines the consequences of violence on Ethiopia's trade relations, including its trading partners, export volume, and import requirements, using a combination of qualitative and quantitative data. The research outcome showed that Ethiopia's trade activities have suffered significantly as a result of the Tigray conflict, with both imports and exports declining. Particularly, the violence has hampered logistics and transportation networks, which has reduced the number of products exported and imported. Furthermore, the conflict has weakened Ethiopia's trading relationships and reduced demand for Ethiopian commodities. The survey also reveals that some of Ethiopia's major trade routes have been closed as a result of the conflict, severely restricting trade activities. These findings underline the necessity for political stability and conflict resolution procedures to support the nation's import and export activity by indicating that civil war has substantial repercussions for Ethiopia's economic development and trade activities.

Keywords: import demands, logistic networks, trade partiners, trade relatinships

Procedia PDF Downloads 86

Authors: Desiree Llaguno Cerezo, Elizabeth Valdes-Miranda Fernandez

Abstract:

Women have a critical role in sustaining the economy and in the development of trade. However, such a role has long been invisible due to orthodox conceptions that have ignored the gender variable in commercial analyses. Today, it is generally accepted that neither the economy nor business are gender-neutral and that the performance of these activities often impact negatively the lives of women. Women’s participation in trade, on equal terms as men, in any of the various possible roles -producer, wage earner, consumer, merchant, taxpayer- will not only favour the lives of women but also the performance of the economies in which they participate. Transparency, as a principle of the multilateral trading system, can play a significant role as a strategy for the empowerment of women.

Keywords: trade, human rights, gender equality, transparency, WTO, women workers, women's economic empowerment

Procedia PDF Downloads 158

Authors: Sakapas Saengchai

Abstract:

This research has objective to study and analysis, expending linkage of trading border of Thai-Myanmar and the way of development trading of Thai-Myanmar border. There are advantage of competition in ASEAN Community on collection data and observation, in-depth interview, group conversation and exchange opinion of public agency, entrepreneur and people. Result of study found that main development of border trade is 1) Cross-border service should be development infrastructure of land telecommunication, sea has support economics of cross-border trade, 2) International consumption service should be expand service with Myanmar and India for linkage with entrepreneur and trading from international to Thailand, 3) Establish business for provide service has development cooperation of logistics via Andaman of Thailand, and 4) Mobility personnel, exchange personnel including labor for development potential of border trade has competition advantage.

Keywords: border trade, development, service, ASEAN

Procedia PDF Downloads 324

Authors: Rudolf Egger

Abstract:

This paper explores the relationships between the basic learning processes of leading trade union workers and their methods for coping with the changes in the life-courses of societies today. It will discuss the fragile discourse on lifelong learning in trade unions and the “production of self-techniques” to get in touch with the new economic forms. On the basis of an empirical project, different processes of the socialization of leading trade union workers will be analysed to discover the consequences of the lifelong learning discourse. The results show what competences they need to develop for the “wider benefits of negotiations”. The main challenge remains to make visible how deeply intertwined trade union learning and education are with development in an ongoing dynamic economic process, rather than a quick-fix injection of skills and information. There is a complex relationship existing between the three ‘partners’, work, learning and society forming. The author suggests that contemporary trade unions could be trendsetters who make their own learning agendas by drawing less on formal education and more on informal and non-formal learning contexts. This is in parallel with growing political and scientific consciousness of the need to arrive at new educational/vocational policies and practices.

Keywords: trade union workers, educational leadership, learning societies, social acting

Procedia PDF Downloads 222

Authors: Shilpi Tripathi

Abstract:

After independence, Bangladesh had to learn to survive on its own without any economic crutches (aid). Foreign direct investment (FDI) became a crucial economic tool for the country to become economically independent. The government started removing restrictions to encourage foreign investment, economic growth, international trade, and the environment. FDI is considered as a way to bridge the saving-investment gap, reduce poverty, balance trade, create jobs for its vast labour force, increase foreign exchange earnings and acquire new modern technology and management skills in the country. At the same time, spillovers of foreign investments in Bangladesh, such as low wages (compared to laborers of developed countries), poor working conditions and unbridled exploitation of the domestic resources, environmental externalities, etc., cannot be ignored. The most important adverse implications of FDI inflows noticed are the environmental problems, which are further impacting the health and society of the country. This paper empirically studies the relationship between FDI, economic growth, international trade (exports and Imports), and the environment since 1996. The first part of the paper focuses on the background and trends of FDI, GDP, trade, and environment (CO₂). The second part focuses on the literature review on the relationship between all the variables. The last part of the paper examines the results of empirical analysis like co-integration and Granger causality. The findings of the paper reveal that a uni-directional relationship exists between FDI, CO₂, and international trade (exports and imports). The direction of the causality reveals that FDI inflow is one of the major contributors to high-volume international trade. At the same time, FDI and international trade both are contributing to carbon emissions in Bangladesh. The paper concludes with the policy recommendations that will ensure environmentally friendly trade, investment, and growth in Bangladesh for the future.

Keywords: foreign direct investment, GDP, international trade, CO₂, Granger causality, environment

Procedia PDF Downloads 181