Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 821

Search results for: shipping trade

821 Appraisal of Shipping Trade Influence on Economic Growth in Nigeria

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

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820 Analysis of the Impact of Suez Canal on the Robustness of Global Shipping Networks

Authors: Zimu Li, Zheng Wan

Abstract:

The Suez Canal plays an important role in global shipping networks and is one of the most frequently used waterways in the world. The 2021 canal obstruction by ship Ever Given in March 2021, however, completed blocked the Suez Canal for a week and caused significant disruption to world trade. Therefore, it is very important to quantitatively analyze the impact of the accident on the robustness of the global shipping network. However, the current research on maritime transportation networks is usually limited to local or small-scale networks in a certain region. Based on the complex network theory, this study establishes a global shipping complex network covering 2713 nodes and 137830 edges by using the real trajectory data of the global marine transport ship automatic identification system in 2018. At the same time, two attack modes, deliberate (Suez Canal Blocking) and random, are defined to calculate the changes in network node degree, eccentricity, clustering coefficient, network density, network isolated nodes, betweenness centrality, and closeness centrality under the two attack modes, and quantitatively analyze the actual impact of Suez Canal Blocking on the robustness of global shipping network. The results of the network robustness analysis show that Suez Canal blocking was more destructive to the shipping network than random attacks of the same scale. The network connectivity and accessibility decreased significantly, and the decline decreased with the distance between the port and the canal, showing the phenomenon of distance attenuation. This study further analyzes the impact of the blocking of the Suez Canal on Chinese ports and finds that the blocking of the Suez Canal significantly interferes withChina's shipping network and seriously affects China's normal trade activities. Finally, the impact of the global supply chain is analyzed, and it is found that blocking the canal will seriously damage the normal operation of the global supply chain.

Keywords: global shipping networks, ship AIS trajectory data, main channel, complex network, eigenvalue change

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819 Quantitative Analysis of the Trade Potential of the United States with Members of the European Union: A Gravity Model Approach

Authors: Zahid Ahmad, Nauman Ali

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This study has estimated the trade between USA and individual members of European Union using Gravity Model of Trade as The USA has a complex trade relationship with the European countries consist of a large number of consumers, which make USA dependent on EU for major of its total world trade. However, among the member of EU, the trade potential of USA with individual members of EU is not known. Panel data techniques e.g. Random Effect, Fixed Effect and Pooled Panel have been applied to secondary quantitative data to analyze the Trade between USA and EU. Trade Potential of USA with individual members of EU has been obtained using the ratio of Actual trade of USA with EU members and the trade as predicted by Gravity Model. The Study concluded that the USA has greater trade potential with 16 members of EU, including Croatia, Portugal and United Kingdom on top. On the other hand, Finland, Ireland, and France are the top countries with which the USA has exhaustive trade potential.

Keywords: analytical technique, economic, gravity, international trade, significant

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818 Points of View on Turkish Trade Marks by Foreigners Living in Konya

Authors: İmran Ugur, Zulfiye Acar

Abstract:

Trade marks are composed of figures, signs or symbols such as logos, colours and designs to be formed for service or products to be different from their counterparts. However, trade marks have nowadays a large meaning that defines its classical description. It has an understanding that pioneers novelties by forming the perception of quality, being emotional constituents and leading to links to their consumers. While entering different markets all over the world, Turkish trade marks are encountering a new type of consumers in Turkey migrating from different countries. Most of these new consumers meet Turkish trade marks for the first time. The present study was performed to investigate the perception of Turkish trade marks living in Konya. How these consumers look at the trade marks of clothes, food, beverages, GSM operators and whiteware appliances, and perceive these trade marks were tried to be determined. Which trade marks they chose according to their preferences, and the awareness of Turkish trade marks were evaluated in the study.

Keywords: brand, brand awareness, culture, trade marks

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817 Market Integration in the ECCAS Sub-Region

Authors: Mouhamed Mbouandi Njikam

Abstract:

This work assesses the trade potential of countries in the Economic Community of Central Africa States (ECCAS). The gravity model of trade is used to evaluate the trade flows of member countries, and to compute the trade potential index of ECCAS during 1995-2010. The focus is on the removal of tariffs and non-tariff barriers in the sub-region. Estimates from the gravity model are used for the calculation of the sub-region’s commercial potential. Its three main findings are: (i) the background research shows a low level of integration in the sub-region and open economies; (ii) a low level of industrialization and diversification are the main factors reducing trade potential in the sub-region; (iii) the trade creation predominate on the deflections of trade between member countries.

Keywords: gravity model, ECCAS, trade flows, trade potential, regional cooperation

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816 Virtual Container Yard: Assessing the Perceived Impact of Legal Implications to Container Carriers

Authors: L. Edirisinghe, P. Mukherjee, H. Edirisinghe

Abstract:

Virtual Container Yard (VCY) is a modern concept that helps to reduce the empty container repositioning cost of carriers. The concept of VCY is based on container interchange between shipping lines. Although this mechanism has been theoretically accepted by the shipping community as a feasible solution, it has not yet achieved the necessary momentum among container shipping lines (CSL). This paper investigates whether there is any legal influence on this industry myopia about the VCY. It is believed that this is the first publication that focuses on the legal aspects of container exchange between carriers. Not much literature on this subject is available. This study establishes with statistical evidence that there is a phobia prevailing in the shipping industry that exchanging containers with other carriers may lead to various legal implications. The complexity of exchange is two faceted. CSLs assume that offering a container to another carrier (obviously, a competitor in terms of commercial context) or using a container offered by another carrier may lead to undue legal implications. This research reveals that this fear is reflected through four types of perceived components, namely: shipping associate; warehouse associate; network associate; and trading associate. These components carry eighteen subcomponents that comprehensively cover the entire process of a container shipment. The statistical explanation has been supported through regression analysis; INCO terms were used to illustrate the shipping process.

Keywords: virtual container yard, legal, maritime law, inventory

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815 A Comparison Study and Analysis on Corporate Social Responsibility among Liner Shipping Companies

Authors: Yu-Sheng Lin, Sheng-Teng Huang

Abstract:

In recent years, the issue of corporate social responsibility has become an enthusiastic discussion and hottest issue around the world. To make the enterprises be sustainable management and sustainable development, more and more enterprises realize that fulfill its corporate social responsibility is the good choice. It is an essential, important issue that the leader needs know how to lead the staff in balance benefit, also emphasize on economic, social and environmental aspects to impact the company, then enhance the consensus. The leader needs to improve cohesion of personnel, and implement the corporate social responsibility in staff behavior, in order to show a performance in the effort of corporate social responsibility of enterprises. The previous literature mostly is committed to comparison of corporate social responsibility in the industry and service industry, regarding to literature of shipping companies were relatively rare. This paper aims to take the domestic and foreign shipping companies of corporate social responsibility reports as the data analysis, and refer to the international convention (GRI) such as association and organization of CSR standard values. Overall comparison with shipping companies of CSR reports, annual reports and other public information, and taking Taiwan shipping companies as the target, respectively, with the international conventions and the world's top ten leading shipping companies to do the comparison and analysis. Shipping companies in Taiwan are bound to the standard that set by the international convention for the first goal diligently and following step is contend with the world's top ten leading shipping companies. There are 3 ~ 5 experts to be involved in interview after the result is completed. They will indicate the superiority and inferiority then provide the opinion, recommendation in the needed action. Through this study, we can explore the importance of corporate social responsibility report for shipping companies, and also provide the clear orientation to external providers to improve corporate social responsibility. In addition, it can provide the academic research and business experts as a reference; finally, serving shipping companies to complete another contribution.

Keywords: Corporate social responsibility (CSR), CSR reports, statistical methods, expert interview method

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814 Impact of Foreign Trade on Economic Growth: A Panel Data Analysis for OECD Countries

Authors: Burcu Guvenek, Duygu Baysal Kurt

Abstract:

The impact of foreign trade on economic growth has been discussed since the Classical Economists. Today, foreign trade has become more important for the country's economy with the increasing globalization. When it comes to foreign trade, policies which may vary from country to country and from time to time as protectionism or free trade are implemented. In general, the positive effect of foreign trade on economic growth is alleged. However, as studies supporting this general acceptance take place in the economics literature, there are also studies in the opposite direction. In this paper, the impact of foreign trade on economic growth will be investigated with the help of panel data analysis. For this research, 24 OECD countries’ GDP and foreign trade data, including the period of 1990 and 2010, will be used.

Keywords: foreign trade, economic growth, OECD countries, panel data analysis

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813 Speed Optimization Model for Reducing Fuel Consumption Based on Shipping Log Data

Authors: Ayudhia P. Gusti, Semin

Abstract:

It is known that total operating cost of a vessel is dominated by the cost of fuel consumption. How to reduce the fuel cost of ship so that the operational costs of fuel can be minimized is the question that arises. As the basis of these kinds of problem, sailing speed determination is an important factor to be considered by a shipping company. Optimal speed determination will give a significant influence on the route and berth schedule of ships, which also affect vessel operating costs. The purpose of this paper is to clarify some important issues about ship speed optimization. Sailing speed, displacement, sailing time, and specific fuel consumption were obtained from shipping log data to be further analyzed for modeling the speed optimization. The presented speed optimization model is expected to affect the fuel consumption and to reduce the cost of fuel consumption.

Keywords: maritime transportation, reducing fuel, shipping log data, speed optimization

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812 Informality, Trade Facilitation, and Trade: Evidence from Guinea-Bissau

Authors: Julio Vicente Cateia

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This paper aims to assess the role of informality and trade facilitation on the export probability of Guinea-Bissau. We include informality in the Féchet function, which gives the expression for the country's supply probability. We find that Guinea-Bissau is about 7.2% less likely to export due to the 1% increase in informality. The export's probability increases by about 1.7%, 4%, and 1.1% due to a 1% increase in trade facilitation, R&D stock, and year of education. These results are significant at the usual levels. We suggest a development agenda aimed at reducing the level of informality in this country.

Keywords: development, trade, informality, trade facilitation, economy of Guinea-Bissau

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811 The Impact of Trade Liberalization on Current Account Deficit: The Turkish Case

Authors: E. Selçuk, Z. Karaçor, P. Yardımcı

Abstract:

Trade liberalization and its effects on the economies of developing countries have been investigated by many different studies, and some of them have focused on its impact on the current account balance. Turkey, as being one of the countries, which has liberalized its foreign trade in the 1980s, also needs to be studied in terms of the impact of liberalization on current account deficits. Therefore, the aim of this study is to find out whether trade liberalization has affected Turkey’s trade and current account balances. In order to determine this, yearly data of Turkey from 1980 to 2013 is used. As liberalization dummy, the year 1989, which was set for Turkey, is selected. Structural break test and model estimation results show that trade liberalization has a negative impact on trade balance but do not have a significant impact on the current account balance.

Keywords: budget deficit, liberalization, Turkish economy, current account

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810 Agriculture in the Dominican Republic: Competitiveness in a New Trade Regime and Lessons for Cuba

Authors: Sarita D. Jackson

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Agriculture remains a sensitive issue during multilateral trade negotiations within the World Trade Organization (WTO). Similar problems arise at the bilateral level, as in the case of trade talks between the United States and the Dominican Republic. The study explores the determinant of agricultural industry competitiveness in the 21st century, particularly in the case of U.S. and Dominican agriculture in each other’s market. Complementing existing scholarship on industry competitiveness, the study argues that trade rules that are established under preferential access programs and trade agreements play a significant role in shaping an industry’s ability to compete. The final analysis is used to offer recommendations to the same sector in Cuba. Cuba currently relies heavily on U.S. food imports and is experiencing the gradual opening of trade with the United States.

Keywords: agriculture, bargaining, competitiveness, Dominican Republic, DR-CAFTA, free trade agreement, institutions

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809 The Key Factors in Shipping Company's Port Selection for Providing Their Supplies

Authors: Sedigheh Zarei

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The aim of this research is to identify the key factors in shipping company’s port selection in order to providing their requirement. To identify and rank factors that are play the main role in selecting port for providing the ship supplies. At the first step, Data were collected via Semi-structured interviews, The aim was to generate knowledge on how shipping company select the port and suppliers for providing their needs. 37 port selection factors were chosen from the previous researches and field interviews and have been categorized into two groups of port's factor and the factors of services of suppliers companies. The current study adopts a questionnaire survey to the main shipping companies' operators in Iran. Their responses reveal that level of services of supplying companies and customs rules play the important role in selecting the ports. Our findings could affect decisions made by port authorities to consider that supporting the privet sections for ship chandelling business could have the best result in attracting ships.

Keywords: ship supplier, port selection, ship chandler, provision

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808 The Determinants of Trade Flow and Potential between Ethiopia and Group of Twenty

Authors: Terefe Alemu

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This study is intended to examine Ethiopia’s trade flow determinants and trade potential with G20 countries whether it was overtraded or there is/are trade potential by using trade gravity model. The sources of panel data used were IMF, WDI, United Nations population division, The Heritage Foundation, Washington's No. 1 think tank online website database, online distance calculator, and others for the duration of 2010 to 2019 for 10 consecutive years. The empirical data analyzing tool used was Random effect model (REM), which is effective in estimation of time-invariant data. The empirical data analyzed using STATA software result indicates that Ethiopia has a trade potential with seven countries of G20, whereas Ethiopia overtrade with 12 countries and EU region. The Ethiopia’s and G20 countries/region bilateral trade flow statistically significant/ p<0.05/determinants were the population of G20 countries, growth domestic products of G20 countries, growth domestic products of Ethiopia, geographical distance between Ethiopia and G20 countries. The top five G20 countries exported to Ethiopia were china, United State of America, European Union, India, and South Africa, whereas the top five G20 countries imported from Ethiopia were EU, China, United State of America, Saudi Arabia, and Germany, respectively. Finally, the policy implication were Ethiopia has to Keep the consistence of trade flow with overtraded countries and improve with under traded countries through trade policy revision, and secondly, focusing on the trade determinants to improve trade flow is recommended.

Keywords: trade gravity model, trade determinants, G20, international trade, trade potential

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807 The Role of Banks Funding and Promoting the Foreign Trade: Case of Turkey

Authors: Mikail Altan

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International trust takes first place in the development of foreign trade in the country. They see an important role in ensuring that trust. Various payment methods that are developed in the banking system provide fast and reliable way to execution and promote foreign trade by financing the foreign trade. In this study, we investigate the influence of bank on foreign trade in Turkey. 26 years of data for 1990-2015 period have been used in this study. After correlation analysis, a simple regression model was established. Payment methods that are developed in the banking system make a positive contribution in Turkey’s foreign trade volume. In addition, the export of Turkey was affected positively more than import’s by these payment methods.

Keywords: banks, export, foreign trade, import

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806 Trade and Environmental Policy Strategies

Authors: Olakunle Felix Adekunle

Abstract:

In the recent years several non-tariff provisions have been regarded as means holding back transboundary environmental damages. Affected countries have then increasingly come up with trade policies to compensate for or to In recent years, several non‐tariff trade provisions have been regarded as means of holding back transboundary environmental damages. Affected countries have then increasingly come up with trade policies to compensate for or to enforce the adoption of environmental policies elsewhere. These non‐tariff trade constraints are claimed to threaten the freedom of trading across nations, as well as the harmonization sought towards the distribution of income and policy measures. Therefore the ‘greening’ of world trade issues essentially ranges over whether there ought or ought not to be a trade‐off between trade and environmental policies. The impacts of free trade and environmental policies on major economic variables (such as trade flows, balances of trade, resource allocation, output, consumption and welfare) are thus studied here, and so is the EKC hypothesis, when such variables are played against the resulting emission levels. The policy response is seen as a political game, played here by two representative parties named North and South. Whether their policy choices, simulated by four scenarios, are right or wrong depends on their policy goals, split into economic and environmental ones.

Keywords: environmental, policies, strategies, constraint

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805 Trade Liberalisation and South Africa’s CO2 Emissions

Authors: Marcel Kohler

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The effect of trade liberalization on environmental conditions has yielded a great deal of debate in the current energy economics literature. Although research on the relationship between income growth and CO2 emissions is not new in South Africa, few studies address the role that South Africa’s foreign trade plays in this context. This paper undertakes to investigate empirically the impact of South Africa’s foreign trade reforms over the last four decades on its energy consumption and CO2 emissions by taking into account not only the direct effect of trade on each, but also its indirect effect through income induced growth. Using co integration techniques we attempt to disentangle the long and short-run relationship between trade openness, income per capita and energy consumption and CO2 emissions in South Africa. The preliminary results of this study find support for a positive bi-directional relationship between output and CO2 emissions, as well as between trade openness and CO2. This evidence confirms the expectation that as the South African economy opens up to foreign trade and experiences growth in per capita income, the countries CO2 emissions will increase.

Keywords: trade openness, CO2 emissions, cointegration, South Africa

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804 Trade Policy and Economic Growth of Turkey in Global Economy: New Empirical Evidence

Authors: Pınar Yardımcı

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This paper tries to answer to the questions whether or not trade openness cause economic growth and trade policy changes is good for Turkey as a developing country in global economy before and after 1980. We employ Johansen cointegration and Granger causality tests with error correction modelling based on vector autoregressive. Using WDI data from the pre-1980 and the post-1980, we find that trade openness and economic growth are cointegrated in the second term only. Also the results suggest a lack of long-run causality between our two variables. These findings may imply that trade policy of Turkey should concentrate more on extra complementary economic reforms.

Keywords: globalization, trade policy, economic growth, openness, cointegration, Turkey

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803 Environmental Impact of Trade Sector Growth: Evidence from Tanzania

Authors: Mosses E. Lufuke

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This paper attempted to investigate whether there is Granger-causality running from trade to environment as evidenced in the changing climatic condition and land degradation. Using Tanzania as the reference, VAR-Granger-causality test was employed to rationalize the conundrum of causal-effect relationship between trade and environment. The changing climatic condition, as the proxy of both nitrous oxide emissions (in thousand metric tons of CO2 equivalent) and land degradation measured by the size of arable land were tested against trade using both exports and imports variables. The result indicated that neither of the trade variables Granger-cause the variability on gas emissions and arable land size. This suggests the possibility that all trade concerns in relation to environment to have been internalized in domestic policies to offset any likely negative consequence.

Keywords: environment, growth, impact, trade

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802 Understanding Loc Trade in Kashmir: References of Global Episodes in Arena of Economy and Confidence Building Measure

Authors: Aarushi Baloria, Joshina Jamwal

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The paper attempts to understand the genesis of the Kashmir conflict, the LoC trade, and the various challenges which impede LoC trade. The paper further understands how this trade assists in mitigating tension between the countries and act as a conference building measure (CBM). The paper discusses later on the positive aspects of LoC trade with the help of statistical data like increase in state's economy along with negatives like smuggling of arms, drugs, swapping and interchanging of Hawala money and other unconstitutional activities like terrorism that took place on trade points across LoC. Moreover, the paper also mentioned in the international context; the episodes of Ireland of Europe, Palestine of Middle East, Uganda of Africa not only as transaction step but also as a peace channel between the fragmented parts. Thus, the paper, in a nutshell, reflects how the trade across LoC benefited in various psychological, economic, and political reasons, and it is worth taking risk, taking its overall positive things into consideration.

Keywords: drugs, economy, international, peace, psychological, trade

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801 An Empirical Study on Growth, Trade, Foreign Direct Investment and Environment in India

Authors: Shilpi Tripathi

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India has adopted the policy of economic reforms (Globalization, Liberalization, and Privatization) in 1991 which has reduced the trade barriers and investment restrictions and further increased the economy’s international trade, foreign direct investment (FDI) inflows and Gross Domestic Product (GDP) growth. The paper empirically studies the relationship between India’s international trades, GDP, FDI and environment during 1978-2012. 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 regarding the relationship among all the variables. The last part of paper, we examine the results of empirical analysis like co integration and Granger causality between foreign trade, FDI inflows, GDP and CO2 since 1978. The findings of the paper revealed that there is only one uni- directional causality exists between GDP and trade. The direction of causality reveals that international trade is one of the major contributors to the economic growth (GDP). While, there is no causality found between GDP and FDI, FDI, and CO2 and International trade and CO2. The paper concludes with the policy recommendations that will ensure environmental friendly trade, investment and growth in India for future.

Keywords: international trade, foreign direct investment, GDP, CO2, co-integration, granger causality test

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800 Bilateral Trade Costs Analysis of Policy Barriers for Growth Oriented Strategies in Exports

Authors: Shabana Noureen, Zafar Mahmood

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Economies consistently engage in trade across borders and face tariff, non-tariff barriers and other quotas that constitute trade costs. The trade costs imposed by policy barriers on exports are considered an impediment in the export growth rate. This work aims to measure over-year trends in total and bilateral trade costs and their trends in relevance to policy barriers (tariff and non-tariff). The analysis through the micro-founded theoretically based gravity model showed that the total trade costs have a general decreasing trend in the world while in the case of developing countries, the rate by which these trends decline is very low. Bilateral trade cost estimates associated with the policy barriers represent that the non-tariff barriers in a developing country have a major role in sustaining the high trade costs as compared to the tariff barriers. This ultimately leads to a low net declining rate. This work emphasizes that for developing countries the non-tariff barriers are a major factor that renders their exports and to be uncompetitive in the world market.

Keywords: trade costs, policy barriers, tariff barriers, non-tariff barriers, trade policies, export growth

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799 The Impact of Information and Communication Technology on Bilateral Trade in Goods

Authors: Christina Tay

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This paper investigates the impact of Information and Communication Technology (ICT) on bilateral trade in goods. Empirical analysis is performed on the United States and 34 partnering countries from 2000 to 2013. Our econometric model fits the data well, explaining 52% of the variation in trade flows for goods trade, 53.2% of the variation in trade flows for goods export and 48% of the variation in trade flows for goods import. For every 10% increase in fixed broadband Internet subscribers per 100 people increases, goods trade by 7.9% and for every 5% increase in fixed broadband Internet subscribers per 100 people, goods export increases by 11%. For every 1% increase in fixed telephone line penetration per 100 people, goods trade increases by 26.3%, goods export increases by 24.4% and goods import increases by 24.8%. For every 1% increase in mobile-cellular telephone subscriptions, goods trade decreases by 29.6% and goods export decreases by 27.1%, whilst for every 0.01% increase in mobile-cellular telephone subscriptions, goods import decreases by 34.3%. For every 1% increase in the percentage of population who used the Internet from any location in the last 12 months Internet, goods trade increases by 32.5%, goods export increases by 38.9%, goods import increases by 33%. All our trade determinants as well as our ICT variables have significances on goods exports for the US. We can also draw from our study that the US relies more rather heavily on ICT for its goods export compared to goods import.

Keywords: bilateral trade, fixed broadband, fixed telephone, goods trade, information and communicative technologies, Internet, mobile-cellular phone

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798 Investigation on the Performance of Biodiesel and Natural Gas-Fuelled Diesel Engines for Shipboard Application

Authors: Kelvin Datonye Bob-Manuel

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The shipping industry has begun to seriously look at ways of reducing fossil fuel consumption so that current reserves can last longer and operate their ships in a more environmentally friendly way. The concept of Green Shipping or Sustainable Shipping with the use of alternative fuels is now becoming an important issue for ship owners, shipping lines and ship builders globally. This paper provides a critical review of the performance of biodiesel and natural gas-fuelled diesel engines for shipboard application. The emission reduction technique included the use of either neat or emulsified rapeseed methyl ester (RME) for pilot ignition and the emission of NOx, CO2 and SOx were measured at engine speed range of 500 - 1500 r/min. The NOx concentrations were compared with the regulated IMO MARPOL73/78, Annex VI, Tiers I, II, III and United States Environmental Protection Agency (US-EPA) standard. All NOx emissions met Tier I and II levels and the EPA standard for the minimum specification of category 1 engines at higher speed but none met the MARPOL Tier III limit which is for designated Emission Control Areas (ECAs). No trace of soot and SOx emission were observed.

Keywords: dual-fuel, biodiesel, natural gas, NOx, SOx, MARPOL 73/78 Annex VI. USEPA Tier 3, EURO V &VI

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797 Fragmentation of The Multilateral Trading System: The Impact of Regionalism on WTO Law

Authors: Musa Njabulo Shongwe

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The multilateral trading system is facing a great danger of fragmentation. Its modus operandi, multilateralism, is increasingly becoming clogged by trade barriers created by the proliferation of preferential regional trading blocs. The paper explores the fragmentation of the multilateral trade regulation system (WTO law) by analysing whether and to what extent Regional Trade Agreements (RTAs) have conflicted with the Multilateral Trading System. The paper examines the effects of RTA dominance in view of the WTO's quest for trade liberalization. This is an important inquiry because the proliferation of RTAs implies the erosion of the WTO law’s core principle of non-discrimination. The paper further explores how the proliferation of RTAs has endangered the coherence of the multilateral trading system. The study is carried out with the initial assumption that RTAs could be complementary and coherent with WTO law, and thus facilitate international trade and enhance development prospects. There is evidence that is tested by this study which suggests that RTAs can be divergent and hence undermine the WTO multilateral rules of regulating international trade. The paper finally recommends legal tools of regulating and managing the WTO-RTA interface, as well as other legal means of ensuring a harmonious existence between the WTO and regional trade arrangements.

Keywords: fragmentation of international trade law, regionalism, regional trade agreements, WTO law

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796 Scale, Technique and Composition Effects of CO2 Emissions under Trade Liberalization of EGS: A CGE Evaluation for Argentina

Authors: M. Priscila Ramos, Omar O. Chisari, Juan Pablo Vila Martínez

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Current literature about trade liberalization of environmental goods and services (EGS) raises doubts about the extent of the triple win-win situation for trade, development and the environment. However, much of this literature does not consider the possibility that this agreement carries technological transmissions, either through trade or foreign direct investment. This paper presents a computable general equilibrium model calibrated for Argentina, where there are alternative technologies (one dirty and one clean according to carbon emissions) to produce the same goods. In this context, the trade liberalization of EGS allows to increase GDP, trade, reduce unemployment and improve the households welfare. However, the capital mobility appears as the key assumption to jointly reach the environmental target, when the positive scale effect generated by the increase in trade is offset by the change in the composition of production (composition and technical effects by the use of the clean alternative technology) and of consumption (composition effect by substitution of relatively lesspolluting imported goods).

Keywords: CGE modeling, CO2 emissions, composition effect, scale effect, technique effect, trade liberalization of EGS

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795 Virtual Container Yard: A Paradigm Shift in Container Inventory Management

Authors: Lalith Edirisinghe, Zhihong Jin, A.W. Wijeratne, Hansa Edirisinghe, Lakshmi Ranwala Rashika Mudunkotuwa

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A paradigm shift in container inventory management (CIM) is a long-awaited industry need. Virtual container yard (VCY) is a concept developed in 2013 and its primary objective is to minimize shipping transport cost through implementing container exchange between carriers. Shipping lines always try to maintain lower container idle time and provide higher customer satisfaction. However, it is disappointing to note that carriers turn a blind eye to the escalating cost resulted from the present inefficient CIM mechanism. The cost of empty container management is simply transferred to the importers and exporters as freight adjustments. It also creates an environmental hazard. Therefore, it has now become a problem for the society. Therefore, a paradigm shift may be required as the present CIM system is not working for common interests of human beings as it should be.

Keywords: collaboation, inventory, shipping, virtual container yard

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794 An Exhaustive All-Subsets Examination of Trade Theory on WTO Data

Authors: Masoud Charkhabi

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We examine trade theory with this motivation. The full set of World Trade Organization data are organized into country-year pairs, each treated as a different entity. Topological Data Analysis reveals that among the 16 region and 240 region-year pairs there exists in fact a distinguishable group of region-period pairs. The generally accepted periods of shifts from dissimilar-dissimilar to similar-similar trade in goods among regions are examined from this new perspective. The period breaks are treated as cumulative and are flexible. This type of all-subsets analysis is motivated from computer science and is made possible with Lossy Compression and Graph Theory. The results question many patterns in similar-similar to dissimilar-dissimilar trade. They also show indications of economic shifts that only later become evident in other economic metrics.

Keywords: econometrics, globalization, network science, topological data, analysis, trade theory, visualization, world trade

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793 The Economic Impact of the Elimination of Preferential Trade Arrangements in the Organization of the Eastern Caribbean States

Authors: Natasha Lalla

Abstract:

The impact of free trade on growth has been highly debated and studies have generated varying results. Since the 1970s the Caribbean has engaged in asymmetrical trade with some European states characterized by the Lomé Conventions (1975-1999). These agreements allowed for Caribbean products such as sugar and banana to enter some European countries duty-free and above market prices. With the onset of the World Trade Organization by the mid-1990s, the EU’s banana trade regime was considered illegitimate. Lomé was replaced by the Cotonou agreement (2000-2007), in order to phase out preferences and ensure that the Caribbean trade arrangements were consistent with the international economic environment of trade liberalization. This agreement facilitated signing of the Economic Partnership Agreement in 2008 by both trade blocs whereby Caribbean states must implement freer trade by 2033. The current study is an exploration of how the Organization of the Eastern Caribbean States, the smallest, economically and ecologically vulnerable states of the Caribbean have restructured their trade policies towards the end of preferences and what has been the economic developmental impact of this. This is done by analyzing key reports to understand how these states restructured policies towards freer trade. Secondly, to determine the impact of this, data collected for specific economic indicators were analyzed in a fixed effects panel data framework for the period 1979-2016 on six states of the Organization of the Eastern Caribbean States. The study, therefore, found that freer trade has resulted in negative growth in these states.

Keywords: free trade, growth, OECS, small island developing states

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792 The Impact of International Student Mobility on Trade and Gross Domestic Product: The Case of China

Authors: Yasir Khan

Abstract:

The continued growth in international students coming to China for higher education had a significant positive impact on trade and GDP in China. Student mobility may expend trade with their country of origin, owing to superior knowledge, or preferential access to market opportunities. We test this hypothesis using Chinese trade data from 1999 to 2017. In fully-modify (OLS) and dynamic (OLS) testing estimation, we find that a 1.24 percent increase in student inward mobility is associated with a 1 percent increase in Chinese export trade. On the other hand, we find that a 1.18 percent increase in the student inward mobility to China is associated with a 1 percent increase in import trade. In addition, we find that a 1.13 percent increase in international student inward mobility is associated with a 1 percent increase in the GDP. The outcome suggests that international students have a strong influence on Gross Domestic Product (GDP), exports and imports trade. However, the study holds that the government should attach great attachment and importance to the role of international students in the export and import trade.

Keywords: international student mobility, China, export, import, GDP, FMOLS, DOLS

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