1,687 results
Search Results
2. Best paper 2022.
- Subjects
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PANEL analysis , *HIGH technology - Published
- 2023
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3. Best paper 2021.
- Subjects
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INCOME inequality , *INTERNATIONAL trade - Published
- 2022
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- View/download PDF
4. Best Paper Prize 2018.
- Subjects
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COMMERCE - Abstract
The article announces that Denis Stijepic and Helmut Wagner have won the Best Paper prize for 2018 for the paper "Impacts of intermediate trade on sector structures."
- Published
- 2019
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- View/download PDF
5. Best Paper Prize 2017.
- Subjects
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ECONOMISTS , *INTERNATIONAL trade , *ECONOMIC development periodicals , *AWARDS , *PERIODICALS - Abstract
The article announces that Yasunori Ishi has been presented the Best Paper Prize for his paper "Dumping in a Product Differentiated Reciprocal Trade Industry Emitting Global Pollution" that was published in Volume 26, Issue 2 of "The Journal of International Trade & Economic Development."
- Published
- 2018
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6. Best paper 2020.
- Subjects
PRIZES (Contests & competitions) - Abstract
The editors are pleased to announce that the winners of the best paper prize for 2020 are Halvor Mehlum, Ragnar Torvik and Simone Valente for their paper titled "Growth with age-dependent preferences", published in volume 29 issue 6 pages 665-676. We congratulate the winners, who will share the 500 pound prize. [Extracted from the article]
- Published
- 2021
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7. Best paper Prize 2016.
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EXTERNALITIES - Abstract
The article announces that Heike Belitz and Florian Mölders have been awarded as the winners of the Best paper Prize for 2016 for their paper titled "International Spillovers through high-tech imports and R&D of foreign owned firms" that was published in a previous issue of the periodical.
- Published
- 2017
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8. Impact of export intensity on energy intensity in manufacturing plants: Evidence from India.
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Goldar, Bishwanath and Goldar, Amrita
- Subjects
INDUSTRIAL energy consumption ,ENERGY intensity (Economics) ,RENEWABLE energy sources ,FACTORIES ,POWER resources ,SOLAR power plants ,EMERGING markets ,WIND power plants - Abstract
Several econometric studies, some undertaken for industrialised countries and some for emerging economies, have found that export participation by industrial enterprises tends to lower their energy intensity and CO
2 emissions intensity. Similar studies undertaken for Indian manufacturing firms using firm-level data have also reached the same conclusion. This paper uses plant-level data for 2008–2015 to examine the impact of export intensity on the energy intensity of Indian manufacturing. The use of plant-level data has the advantage of incorporating location-specific differences into the analysis, such as the contribution of renewable energy sources (solar, wind, etc.) to the power supply in the state in which the plant is located. The paper finds a significant negative effect of export intensity on energy intensity, confirming earlier findings. Also, on a relative scale, the energy-efficiency-enhancing effect of exporting is larger for relatively more energy-intensive industries. Further, increases in the share of renewable energy in the power supply make industries more energy efficient. [ABSTRACT FROM AUTHOR]- Published
- 2023
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9. Best paper 2019.
- Subjects
PUBLIC investments - Abstract
The editors are pleased to announce that the winners of the best paper prize for 2019 are Meng-Fen Yen, Ruohan Wu and Mario Javier Miranda for their paper titled "A general equilibrium model of bilateral trade with strategic public investment in commercial infrastructure" published in volume 28 issue 6 pages 712-731. We congratulate the winners who will share the 500 pound prize. [Extracted from the article]
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- 2020
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10. A vertical index of direct competition in international trade: The case of CHINDIA and CARICOM.
- Author
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Ramnath, Renaldo, Hosein, Roger, Deonanan, Regan, and Saridakis, George
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INTERNATIONAL competition , *INTERNATIONAL trade , *EVIDENCE gaps , *WILD animal trade , *MARKET segmentation , *MARKET share , *EXPORTS , *VERTICAL integration - Abstract
This paper assesses the genealogy of competitive indices in international trade and theoretically develops a measure of export threat which estimates direct competition in vertical market segments. We identify the assumption of homogeneity in these export threat measures as a weakness that undermines accuracy. Hence, we develop a new measure of export threat, the direct intra-market threat (DIMT), which incorporates relative vertical and market share changes over time to accurately estimate a country’s direct threat to other exporters in a third market. We argue that the market segmentation method applied in complement to the DIMT estimate provides an all-encompassing methodology in the estimation of export threat, which we argue is superior to the Dynamic Index of Competitive Threat (DICT) and Direct Threat methodologies. The paper uses the case of China and India (CHINDIA) and the Caribbean Community (CARICOM) to assess the empirical estimates of the DIMT relative to DICT and Direct Threat over the period 2000–2021. Our study is motivated by a research gap in the estimation of the competitive threat posed by a large, diversified exporter on Small Island Developing States (SIDS). [ABSTRACT FROM AUTHOR]
- Published
- 2024
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11. Best paper Prize 2015.
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ACADEMIC discourse , *AWARDS - Abstract
The article announces that Cuong Nguyen Viet has received the 2015 Best Paper Prize for his paper "The Impact of Trade Facilitation on Poverty and Inequality: Evidence From Low- and Middle-Income Countries."
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- 2016
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12. What robustly determines FDI in emerging markets and developing countries? A sensitivity analysis.
- Author
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Abbas, Ali
- Subjects
EMERGING markets ,FOREIGN investments ,SENSITIVITY analysis ,FOREIGN trade regulation ,TECHNOLOGICAL innovations ,DEVELOPING countries - Abstract
What determines Foreign Direct Investment (FDI) inflows remains a primary concern of economists and policy makers; yet the uncertainty surrounding FDI theories and empirical approaches has created ambiguity regarding the determinants of FDI. This paper applies Leamer's (1983, 1985) traditional Extreme Bounds Analysis (EBA) as well as the Sala-I-Martin modified form of EBA to identify the robust determinants of FDI using cross-sectional data (averaged for the period of 1985-2016) covering 103 emerging and developing countries. We consider 33 potential economic, political and institutional determinants. To address concerns about multicollinearity, the VIF restriction specifies that only estimates with VIF below five are reported. The results show that all variables of interest are fragile determinants of FDI when using traditional EBA. Yet, when applying the Sala-i-Martin EBA, nine robust variables are revealed. Some policy implications are discussed. Highlights What determines Foreign Direct Investment (FDI) inflows remains a primary concern of economists and policy makers; yet the uncertainty surrounding FDI theories and empirical approaches has created ambiguity regarding the determinants of FDI. It is a common practice in the fields of economics and finance to report the most 'appealing' or convenient regression or regressions after an extensive search and data mining, given that the 'true' model is unknown. This paper applies traditional Extreme Bounds Analysis (EBA) as well as the Sala-i-Martin modified form of EBA to identify the robust determinants of FDI. We demonstrate that what is important is not the significance or otherwise according to one regression equation but rather the robustness or fragility of the variables in the sense that the sign and significance do not change over a large number of regressions selected according to a predetermined procedure. Policy makers would be able to understand the importance of the major determinants of FDI mentioned in the paper and take steps to formulate policies that encourage and attract more FDI. Such determinants could include market size, making regulations more international trade friendly and investing in the nation's human capital. Further, research and development facilities could be developed to provide a basis for technological advancements which would attract more FDI inflows. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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13. Asymmetric role of human capital and trade liberalization in the economic growth of Pakistan: Fresh evidence from the nonlinear analysis.
- Author
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Luqman, Muhammad and Soytas, Ugur
- Subjects
HUMAN capital ,FREE trade ,ECONOMIC expansion ,NONLINEAR analysis ,ECONOMIC impact ,HUMAN growth - Abstract
Human capital and trade liberalization are playing a central role in growth theories. However, the link between human capital, trade liberalization, and economic growth remains a challenging question due to the inconclusive results of the previous studies. Paper contributes to this debate through asymmetric links among human capital, trade liberalization, and economic growth by incorporating labor and capital for Pakistan's economy by applying the nonlinear autoregressive distributed lag model. Results suggest that the positive and negative asymmetric impact of trade liberalization and human capital on growth substantially vary in the short and long run. In the long run, the increased trade liberalization hurts economic growth, while increased human capital has a minimal positive impact on economic growth in the short and long run. The implications of this paper are for economists and policymakers to strengthen the role of human capital and trade liberalization for Pakistan. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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- View/download PDF
14. Best Paper Prize 2014.
- Subjects
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GRAY market - Abstract
The article informs that Ichino Yasukazu has won the Best Paper Prize for 2014 for his paper "Parallel Imports and Piracy in a North- South Mode", published in April-June issue of the "Journal of International Trade & Economic Development."
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- 2015
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15. Gravity channels in trade.
- Author
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Hou, Yulin, Wang, Yun, and Yilmazkuday, Hakan
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GRAVITY ,LINGUA francas ,COMMERCIAL treaties ,FREE trade ,COST control - Abstract
Gravity variables such as distance, adjacency, colony, free trade agreements or language are used to capture the effects of trade costs in empirical studies. By using actual data on trade costs, this paper decomposes the overall effects of such variables on trade into those through three gravity channels: duties/tariffs (DC), transportation-costs (TC), and dyadic-preferences (PC). As opposed to the existing literature where gravity variables act like supply shifters (through DC and TC), this paper empirically shows that they act like demand shifters (through PC). Regarding policy, it is implied that welfare-improving globalization cannot be achieved only through reductions in direct costs such as duties/tariffs or transportation costs; it is rather the globalization itself that should be promoted in order to shift the preferences of destination countries toward international products and thus reduce indirect trade costs. The results are further connected to several existing discussions in the literature, such as welfare gains from trade and the distance puzzle. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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16. Best Paper Prize 2013.
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WRITING competitions - Abstract
The article announces that Halis M. Yildiz is the winner of the journal's 2013 Best Paper Prize for her paper "Foreign direct investment and customs union: Incentives for multilateral tariff cooperation over free trade."
- Published
- 2014
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17. Does financial liberalization lead to financial development? Evidence from emerging economies.
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Mukherjee, Paramita, Roy Chowdhury, Sahana, and Bhattacharya, Poulomi
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EMERGING markets ,INDUSTRIAL clusters ,BANKING industry ,FINANCIAL security ,POLITICAL stability ,ECONOMIC liberty ,ECONOMIC conditions in Asia ,COMMODITY exchanges - Abstract
In the last few decades, most of the emerging market economies (EMEs) have adopted financial liberalization. Evidence shows that the financial sectors/institutions in emerging economies were either underdeveloped or functioning with a lot of inefficiencies under inadequate regulation. The paper examines whether liberalization in the financial sector has led to financial development for a bunch of EMEs including BRICS. The paper differs from the existing literature in its approach of dealing with the measurements of financial development and considering financial liberalization as a gradual process. Panel regressions are estimated for 9 countries based on 22 years' data for four aspects of financial development, viz. depth, efficiency, stability and competition. Results indicate that financial liberalization in terms of freedom in capital markets has a positive effect on financial depth and competition, whereas liberalization from government interference in the banks and other financial institutions has a positive impact on the stability of the financial sector. Trade openness has a role in enhancing the efficiency of the financial sector. Also, evidence suggests that capital account openness leads to increased depth and does not destabilize the financial sector. GDP, political stability, regulatory quality and government effectiveness are also important factors in influencing more than one aspect of financial development in a country. [ABSTRACT FROM AUTHOR]
- Published
- 2021
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- View/download PDF
18. Do export responses to exchange rate movements differ in micro export flows?
- Author
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Aslan, Caglayan and Parmaksız, Salih
- Abstract
This paper empirically examines how exports respond to exchange rate movements (exchange rate and exchange rate volatility) at the micro and macro levels using Turkey’s bilateral export data with 65 partner countries. Panel data contaninig 65 cross-sectional dimensions and 60 monthly time series dimensions from 2018:01 to 2022:12 are used. The empirical results of the Poisson Pseudo Maximum Likelihood (PPML) technique show that the negative effect of exchange rate volatility on micro export flows is amplified. Moreover, the potential positive effect of the exchange rate on micro export flows is weaker. Our findings are robust against the alternative method of exchange rate volatility and nominal exchange rate volatility. Our results are also intact under alternative robustness tests. The paper provides notable policy implications. Policymakers should be aware of the potential structural differences between micro and macro exports. Therefore, policymakers should also consider other aspects such as cross-border e-commerce when formulating economic policies on microexports. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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19. Does trade openness affect migrants' marriage? Evidence from China.
- Author
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Liu, Kaihao, Wang, Xuefang, and Zhang, Tingru
- Abstract
Based on the database of China Migrants Dynamic Survey from 2011 to 2018, this paper explores the impact of trade openness on migrants’ marriage, and reveals that trade openness increases migrants’ divorce rate significantly. The potential mechanism analysis finds that trade openness affects migrants’ divorce rate through the channel of their marriage value. Besides, the heterogeneity test indicates that the impacts of trade openness on migrants’ marriage are heterogeneous across different regions, social and cultural environments, gender groups, and migration circles. Furthermore, the moderating effect analysis reveals that Confucian culture can weaken the impact of trade openness on migrants’ divorce rate, which has a negative moderating effect on the relation between trade openness and migrants’ divorce rate. Finally, this paper provides supporting evidence for the fact that trade openness does affect migrants’ marriage and thus offers a possible explanation for the continuously increasing divorce rate in China from the perspective of trade openness. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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- View/download PDF
20. How digital finance impacts trade credit in supply chains: An analysis from Chinese A-share listed companies.
- Author
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Xu, Kun, Liu, Jie, and Teng, Zhong-lu
- Abstract
Digital finance is reshaping trade credit. This study investigates the influence of digital finance on trade credit among A-share listed companies in China from 2011 to 2020. The paper matches this data with city-level digital finance index (DFI) data. Empirical results indicate that digital finance significantly benefits trade credit. This impact occurs through bank competition, regulatory penalties, and disclosure quality channels. Different levels of digital finance development and financing constraints of companies have a varying impact on trade credit. This paper provides a new perspective on trade credit in the firm's supply chain that enriches theoretical research on digital finance. The research results can help the country to implement digital finance development strategy better and offer relevant guidance and reference. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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21. Trade openness and green technology: The extent of trade openness and environmental policy matter.
- Author
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Kim, Dong-Hyeon, Wu, Yi-Chen, and Lin, Shu-Chin
- Abstract
Much effort has been devoted to understanding how trade openness is linked to technological progress. Less documented is the effect on green technology, which is particularly important as it is green technological progress that alleviates environmental degradation while improving economic growth. To fill the void, this paper empirically examines whether trade openness drives green technology development and whether the effect depends on the extent of trade openness and environmental policy stringency. In a sample covering both advanced and developing countries, the paper finds that green technology first decreases and then rises with increased trade openness, meaning that a sufficient level of trade openness is required for green technological progress. Tighter environmental policy is also found to weaken the beneficial effect of trade openness on green technological progress, implying that lax environmental policy creates a better environment for more open countries to develop green technology. However, these effects vary across countries, depending on the origin and destination of trade. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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22. The dynamic relationship between economic globalisation, institutional quality, and ecological footprint: Evidence from Ghana.
- Author
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Amegavi, George Babington, Langnel, Zechariah, Ahenkan, Albert, and Buabeng, Thomas
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ECOLOGICAL impact ,ECONOMIC globalization ,GLOBALIZATION ,ENVIRONMENTAL quality ,SUSTAINABILITY ,ECONOMIC expansion - Abstract
Research on the relationship between globalisation and the environment tends to focus on the direct effect of globalisation, rarely considering the role of institutions. This paper introduces insights from political economy, which suggests that environmental sustainability models would be greatly improved if institutions are considered. We test this hypothesis by estimating the relationship between economic globalisation, bureaucratic quality, and ecological footprint in Ghana for the period 1984–2016. The long-run analysis is based on the autoregressive distributive lag (ARDL) bound testing approach to cointegration. The result supports the hypothesis that expansion in economic globalisation has a reducing effect on environmental quality. Bureaucratic quality appears to exert a significant positive effect on ecological footprint. Furthermore, the estimation shows that the quality of institutions is critical for environmental quality. Based on the results the paper presents some policy recommendations. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
23. Best Paper Prize 2012.
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AWARD winners , *INDUSTRIES - Abstract
The article announces that Serge Shikher has won the Best Paper Prize for 2012 for his paper "Putting industries into the Eaton-Kortum model" published in the December 2012 issue of the journal.
- Published
- 2013
- Full Text
- View/download PDF
24. Best Paper Prize 2010.
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AWARDS - Abstract
The article announces that the recipients of the Best Paper Prize 2010 award are Claus Aastrup Jensen, Nikolaj Malchow-Møller and Jan Rose Skaksen for their paper "Does coordination of immigration policies among destination countries increase immigration?".
- Published
- 2011
- Full Text
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25. The Journal of International Trade & Economic Development Annual Best Paper Prize.
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JOURNALISM , *ECONOMIC development , *CONTESTS - Abstract
The article offers information on the Best Paper Prize competition wherein an honorarium of 500,000 pounds will be awarded to the winning paper.
- Published
- 2010
- Full Text
- View/download PDF
26. On the relationship between rules of origin and global value chains.
- Author
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Thang, Doan Ngoc, Ha, Le Thanh, Dung, Hoang Phuong, and Long, Trinh Quang
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CERTIFICATES of origin ,VALUE chains ,TARIFF preferences ,FREE trade ,COMMERCIAL treaties - Abstract
This paper uses a modified gravity model to investigate the effects of rules of origin (RoO) on 61 countries' participation in global value chains (GVCs) during the period 2005–2015. We define GVC participation as the value added contained in exports, looking both backward and forward from a reference nation. RoO are heterogeneous in the degrees of restrictiveness that govern the origin of products to obtain preferential tariff treatment. The empirical results show negative relationships between RoO's restrictiveness and both backward and forward participation, and these adverse effects become more prominent when we control the endogeneity bias. However, the implementation of regime-wide RoO, including diagonal cumulation and de minimis, can reduce these negative effects. The mitigating roles of both regime-wide rules are quite similar in terms of magnitude, which is significant as the current literature on the liberalization of RoO only focuses on the role of cumulation. Our findings suggest that in order to upgrade participation in international production networks, a country should adopt a less restrictive and regime-wide RoO in free trade agreement (FTA) negotiations. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
27. The impact of high-technology trade on employment.
- Author
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Idris, Zera Zuryana, Ismail, Normaz Wana, Ibrahim, Saifuzzaman, and Hamzah, Hanny Zurina
- Subjects
EMPLOYMENT ,LABOR market - Abstract
This paper aims to empirically examine the impact of high-technology trade on employment. A dynamic labour demand equation is employed to investigate the impact of high-tech trade on employment in 20 high-tech exporting countries. Using data from 2007 to 2016, this study highlights some evidence on the negative relationship between high-tech trade and employment. This paper argues the development towards high-tech trade should be accompanied by appropriate policy measures to lessen the employment effect and to ensure the benefit of growth is well-distributed among all segments of the labour market. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
28. Best Paper Prize 2011.
- Subjects
- *
WINNERS , *WINNING & losing (Contests & competitions) - Abstract
The article offers information on the winners of the Best Paper Prize for 2011 which includes Carmen Fillat and Julia Woerz.
- Published
- 2012
- Full Text
- View/download PDF
29. The digital economy and markup: Based on herd behavior and peer effect.
- Author
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Zhang, Xianfeng, Chen, Dixin, and Li, Yanyun
- Abstract
The relationship between digital economy and signal information on firms‘ markup has been overlooked and not well explained, especially in the emerging economies. When there is information asymmetry or too much information, the export decisions of firms are not completed independently, but the result of the comprehensive trade-off of the export signals issued by the 'neighbors'. This paper discusses the impact of the development of digital economy on the markup of export firms by distinguishing two perspectives of export signal, namely herd behavior and peer effect. We find that the digital economy has a positive impact on firm markup. There is substitution effect in digital economy and export signals, and digital economy acts price bonus by influencing export signals. The growing popularity of market signals could offset some of the advantages of the digital economy on export markup for companies. In addition, our paper finds that foreign-owned firms, large-scale firms, highly competitive industries and non-digital economy industries adjust their markups more significantly when they were affected by export signals. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
30. Trade liberalization policies and foreign direct investment inflows in Africa: Evidence from new measures of trade liberalization.
- Author
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Obuobi, Nathaniel Kwapong, Gatsi, John Gartchie, Appiah, Michael Owusu, Kawor, Seyram, Amoah, Emmanuel Kwakye, and Abeka, Mac Junior
- Subjects
FOREIGN investments ,COMMERCIAL policy ,FREE trade ,MOMENTS method (Statistics) - Abstract
This paper examines the role that trade liberalisation policies play in attracting FDI flows to African economies from 2000 to 2017. This study contributes to the extant literature on the relevance of trade liberalisation policies in developing economies and in particular, African Countries. By employing new measures for trade liberalisation policies, the study estimated a System Generalized Method of Moment model to examine the relationship between trade liberalisation policies and FDI inflows to Africa. The findings suggest that the institutionalisation of policies to enhance trade liberalisation would be germane in attracting higher levels of FDI flows to African economies. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
31. Shocks effects of inflation, money supply, and exchange rate on the West African Monetary Zone (WAMZ): Asymmetric SVAR modelling.
- Author
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Ilyas, Muhammad, Song, Liying, Galadima, Mukhtar Danladi, Hussain, Muhammad Noshab, and Sattar, Abdul
- Subjects
FOREIGN exchange rates ,MONEY supply ,COINTEGRATION ,PRICE inflation ,MONETARY policy - Abstract
This paper has investigated the shocks effects of inflation, money supply, and exchange rate on the economies of the West African Monetary Zone (WAMZ) from 1987 to 2019 using the Kapetanios-Shin-Snell nonlinear cointegration test, Kilian-Vigfusson asymmetric tests, and Hatemi technique that allows the estimation of Asymmetric Structural Vector Autoregressive (ASVAR) model. The findings revealed that in all the countries, the shocks effects of inflation, money supply, and exchange rate are asymmetric except in Guinea and inflation in Liberia. Furthermore, for Gambia and Nigeria, only money supply is impacting the economies, while for Ghana, Guinea, and Liberia, none of the variables is impacting the economies but for Serra Leone, money supply and exchange rate are impacting its economy. Moreover, all the countries have common sources of shocks emanating from monetary and exchange rate policies except Gambia, which is monetary policy only. Therefore, the paper recommends the members, especially Ghana, Guinea, and Liberia, a solemn effort on appropriate monetary and exchange rate policies to boost their economies. Also, since almost all the countries have common sources of shocks emanating from monetary and exchange rate policies, they can embark into the monetary integration. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
32. Modelling trade specialisation of Slovakia and Czechia in automobile industry.
- Author
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Sergi, Bruno S. and Pitoňáková, Renáta
- Subjects
AUTOMOBILE industry ,PERFORMANCE of automobiles ,FOREIGN exchange rates ,HUMAN capital - Abstract
This paper proposes an innovative approach to modelling trade specialisation of Slovakia and Czechia. These countries have a limited export structure concentrated mainly on machinery and transport equipment that require recent technologies and are subject to continuous automation. We aimed to identify factors that impact Slovakia's and Czechia's performance in the automobile industry on the EU-28 market using the Auto Regressive Distributed Lag Approach. The Vollrath indicator of the revealed competitiveness (Vollrath 1987) demonstrates specialisation, representing a modification of the Balassa index of revealed comparative advantages (Balassa 1965). The paper shows compelling evidence of long-and-short-run asymmetry between trade specialisation and the real effective exchange rate in Slovakia. The results suggest that the Czech competitiveness in the automobile industry does not fall with a higher effective exchange rate. Other factors such as human capital and country size bolster the theoretical assumptions and show the over specialisation of both countries and chances to be less specialised with higher population growth. This paper's findings have a broader context and application for countries focusing primarily on manufacturing road vehicles. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
33. Political competition, optimal upstream managerial delegation for an SOE, and optimal downstream industrial policy.
- Author
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Chang, Winston W., Chen, Fang-yueh, and Chen, Tai-Liang
- Subjects
POLITICAL competition ,INDUSTRIAL policy ,GOVERNMENT business enterprises ,SOCIAL services ,DUOPOLIES - Abstract
This paper introduces political competition into a vertical model with successive duopolies. The upstream consists of a home state-owned enterprise (SOE) and foreign private intermediate-input producer while the downstream consists of home and foreign private final-good producers. The SOE manager lobbies for a better weight configuration comprised of profits and sales, the downstream domestic firm lobbies for more subsidies to enhance its profits and industrial policy, and the policymaker, as one agency, maximizes a weighted sum of the lobbyists' contributions and social welfare, sets policies for the two firms. The paper shows that it is in the interest of the SOE's manager to promote sales at the expense of profits. The upshot on the effects of lobbying is that the government will set too high a weight on sales for the SOE and will confer excessive subsidy to the downstream firm beyond the respective social optimal levels. Lobbying is therefore socially harmful. This paper further shows that if only one lobbyist contributes, which results in lower social welfare than when only its rival contributes, it must be that the lobbyist contributes more than its rival. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
34. Foreign direct investments, institutional quality, and economic growth.
- Author
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Hayat, Arshad
- Subjects
FOREIGN investments ,ECONOMIC development ,HIGH-income countries ,MIDDLE-income countries ,PANEL analysis - Abstract
Institutional quality is considered to be an important factor in boosting economic growth of a country. This paper explores the role of institutional quality in economic growth and more specifically the role it plays via the channel of foreign direct investments. This paper uses a larger dataset of 104 countries and applies GMM estimation method to a dynamic panel data to evaluate the direct impact of institutional quality on economic growth and the indirect impact of institutional quality on economic growth through enhancing the FDI-induced economic growth. This paper provides evidence that both FDI inflows and institutional quality cause stronger economic growth. The FDI-led growth, however, was only experienced in the low and middle-income countries. In these countries, better institutional quality was also found to be enhancing the FDI-led economic growth. An important finding of this paper is that in the high-income countries, FDI was found to slow down the economic growth. The results are robust and consistent for individual institutional quality indicators and controlling for endogeneity. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
35. Fiscal policy, monetary policy and external imbalances: Cross-country evidence from Africa's three largest economies.
- Author
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Bonga-Bonga, Lumengo
- Subjects
FISCAL policy ,FOREIGN exchange rates ,ECONOMIC policy ,FOREIGN exchange ,RATES - Abstract
This paper determines which of the three policy approaches: fiscal, monetary and exchange rate can better address external imbalances in the three largest African economies, Nigeria, South Africa and Egypt. To this end, use is made of the panel vector autoregressive model to assess the dynamic effects of shocks emanating from the three policy approaches. The findings of the paper indicate that unlike in many emerging and developed economies the current accounts of these three economies react to fiscal, monetary and exchange rate shocks. More particular, the results of the empirical analysis show that the appreciations of the currencies in the three economies lead to current account surpluses. This is mainly attributed to the fact that most African economies have a high propensity to import with limited productive capacity for exports. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
36. A cross-country analysis of the roles of border openness, human capital and legal institutions in explaining economic development.
- Author
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Oyèkọ́lá, Ọláyínká
- Subjects
HUMAN capital ,ECONOMIC development ,GLOBALIZATION - Abstract
Globalisation, human capital, and institutions have been widely recognised in the literature to be causally important for economic development. Most of the available studies, however, treat measures of these determinants either separately or as substitutes. In this paper, we study the income effects of border openness to migration, education, and the rule of law (our proxies for globalisation, human capital, and institutions, respectively). Using cross-country data covering all regions of the world, and employing instrumental variables for all three factors, we establish that they each have a robust, positive, and strong association with economic development. We then consider whether there are any useful interrelations between the three factors in explaining income. On the interaction effects, the results show that the impact on income of: (i) migration can be materially affected by cultivating good institutions but this effect is not dependent on the education level; (ii) education is important irrespective of the levels of migration and institutions; and (iii) institutions is significantly improved by raising the level of education but is not influenced by migration level. Our paper makes a significant contribution as the first investigation into the effects of migration, education, and institutions jointly and as complements. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
37. Enterprise heterogeneity, agglomeration model, and urban exports: Evidence from Chinese cities and micro enterprises.
- Author
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Zhang, Wenwu, Li, Ruru, and Zuo, Fei
- Subjects
ECONOMIES of agglomeration ,HETEROGENEITY ,SMALL cities ,PANEL analysis ,INFRASTRUCTURE (Economics) ,REGIONAL planning - Abstract
Heterogeneous enterprise agglomeration is an important perspective in understanding urban exports and reshaping the new advantages of urban openness. This paper considers data from China's industrial enterprises and municipality-level panel data from 192 cities to systematically examine enterprises' heterogeneity, agglomeration patterns, and urban exports. The results reveal that: (1) the heterogeneity in enterprise productivity exhibits a significant promotional effect on urban exports in China's central and northeastern regions, but not on its western regions; (2) specialized agglomeration positively affects exports in the central and western regions and in small and medium-sized cities, while diversified agglomeration significantly and positively impacts the eastern and northeastern regions and small and large cities; and (3) thresholds exist in determining the effects of agglomeration and sequencing on urban exports and their sequence by considering heterogeneity in enterprises' productivity. This work provides important policy implications for the development of export trade in cities and countries by suggesting a focus on rational planning and adjustments to regional industrial policies, improvements to talent flow mechanisms, and construction of social infrastructures. HIGHLIGHTS Heterogeneous enterprise agglomeration can shape exports from city-based businesses A new simultaneous model determines how to increase urban exports Heterogeneity can have various impacts in different Chinese regions and cities Increasing productivity and exports requires strategic planning for optimization [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
38. Call for papers on a two-day conference on 'Firm Heterogeneity and Development'.
- Subjects
- *
CONFERENCES & conventions , *HETEROGENEITY - Abstract
The article offers information on the conference related to heterogeneity to be held in Utrecht, The Netherlands from October 6 to 7, 2011.
- Published
- 2010
- Full Text
- View/download PDF
39. Modeling the employment–oil price nexus: A non-linear cointegration analysis for the U.S. market.
- Author
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Kisswani, Amjad M. and Kisswani, Khalid M.
- Subjects
WOMEN'S employment ,GRANGER causality test ,COINTEGRATION ,PRICE cutting ,MARKETING research - Abstract
Theoretically, fluctuations in oil prices are expected to affect production costs and may force businesses to delay their investment decisions, triggering pressures on employment. Following these theoretical notions, this paper investigates the asymmetric impact of oil prices on employment (measured as total employment, male employment, and female employment), in a nonlinear cointegration structure for the U.S. market. In doing so, this paper adopts the nonlinear autoregressive distributed lags (NARDL) model to shed light on such asymmetric association, as the NARDL model recently emerged as a new direction in examining nonlinear cointegration and asymmetry. The empirical findings document a long-run asymmetric effect in case of total employment and male employment only. Furthermore, the short-run asymmetric effect was detected for all three employment categories. As a final point, the Granger Causality test documents a unidirectional causality running from oil price decrease to both total employment and male employment. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
40. The relationship between labor productivity and number of operating firms.
- Author
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Goksel, Turkmen and Ozturkler, Harun
- Subjects
LABOR productivity ,UTILITY functions ,AGGREGATE industry ,BUSINESS enterprises ,LABOR demand - Abstract
This paper constructs a theoretical model matching empirically observed relationships between average labor productivity and the number of operating firms. The models in the related literature which utilize CES utility function find no relationship between average labor productivity and the number of operating firms in the economy (Melitz, Marc J. [2003. "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity." Econometrica 71 (6): 1695–1725] and many versions of this model). Moreover, the models which utilize non-homothetic preferences with a numeraire good find a positive relationship between average labor productivity and the number of operating firms (Melitz, Marc, and Gianmarco I. P. Ottaviano [2008. "Market Size, Trade, and Productivity." Review of Economic Studies 75: 295–316] and many versions of this model). However, the model developed in this paper provides a single theoretical framework that depending on the source, a rise in the average labor productivity may lead to an increase or a decrease in the number of operating firms. In line with our results, we provide empirical evidence from ten European countries for the 2008–2016 period, which shows that the correlation between these two variables is positive for some of the countries, while negative for the others. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
41. Friends or foe? The complementarity or substitutability of financial development and FDI, financial development, and trade openness on domestic investment.
- Author
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Islam, Syed Nazrul and Islam, Md. Shariful
- Subjects
- *
ECONOMIC development , *PANEL analysis , *FOREIGN investments - Abstract
This paper examines the relationship between financial development and FDI and between financial development and trade openness in boosting domestic investment. Initially, this paper examined this issue for panel data sample of 161 countries over 1995–2018. Considering the issue of aggregation bias due to heterogeneous nature of countries in the sample, this complementarity or substitutability effect between financial development and FDI as well as financial development and trade openness have further been re-examined by using 129 developing country samples. Using panel fixed effects (FE) and two-step system GMM estimation technique, the empirical results demonstrate the substitutability between financial development and FDI as well as a substitutability relationship between financial development and trade openness in driving domestic investment. The results hold for both the samples and also in alternative measures of financial development and extended specifications. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
42. The effect of trade on market power — evidence from developing economies.
- Author
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Gonzalez-Garcia, Jesus and Yang, Yuanchen
- Subjects
FREE trade ,MARKET power ,CORPORATE power ,MACHINE learning ,EMERGING markets ,RESOURCE allocation - Abstract
The rise of market power has sparked off increasing public debate over the past decade. Using a novel large-scale firm-level dataset, this paper examines the effect of trade liberalization on corporate market power in emerging and developing economies. We find that opening up to trade significantly reduces market power by promoting competition and improving resource allocation. The cumulative impact is estimated at 4 percent reduction in average markups over a 5-year horizon post each trade liberalization episode. We also draw on machine learning algorithms to account for nonlinearities in the relationship and show that trade reform is complementary to other structural reforms. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
43. Use of industrial robots and Chinese enterprises' export quality upgrading: Evidence from China.
- Author
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Hong, Lianying, Liu, Xujun, Zhan, Huiwen, and Han, Feng
- Subjects
INDUSTRIAL robots ,LABOR costs ,PRODUCT improvement ,COST structure ,BUSINESS enterprises ,EXPORTS - Abstract
Using the micro-level data on China's export enterprises from 2005 to 2013, this paper discusses the impact of industrial robots on the quality upgrading of export products from two aspects: the change of enterprises' costs and the structural effect of labor allocation. We find that there is a U-shaped relationship between the use of industrial robots and export products' quality upgrading, but the enterprises whose robot applications exceed the U-shaped inflection point only account for 22.68%; in other words, most enterprises have not yet realized export products quality upgrading, and there exists a mismatched effect in the initial development stage. The results of mechanism analysis showed that industrial robots have significant effects on the costs and the structure of labor for export enterprises. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
44. Exchange rate movements and trade balance in developing economies: Evidence of symmetry and country-specific asymmetries.
- Author
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Muzammil, Muhammad, Ali, Mahnaz Muhammad, Bagh, Tanveer, and Khan, Muhammad Asif
- Abstract
The impact of exchange rate (ER) movements on the trade balance has been extensively debated in the literature, with conflicting views on the nature and magnitude of this effect. This paper investigates the relationship between ER movements and trade balance in developing economies, with a specific focus on bilateral analysis involving Pakistan. Employing the Nonlinear Autoregressive Distributed Lag (NARDL) model, our results reveal a symmetric relationship between positive and negative ER changes and the trade balance, showing significant long-term and short-term effects across the panel of developing economies. However, country-specific asymmetries are observed, especially in the cases of India and China, and are more pronounced in each bilateral analysis, whether in the short run or long run. The study findings highlight the critical importance of maintaining a stable exchange rate policy, which can provide policymakers with precise insights into the money market and the broader economy while preventing high volatility and continuous depreciation of domestic currencies. Such measures can mitigate the long-term adverse effects of ER movements on trade agreements. The study offers valuable insights for policymakers and investors in developing economies, aiding them in making informed decisions about exchange rate policies. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
45. An empirical investigation of capital flight and economic growth nexus in Africa.
- Author
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Antwi, Samuel, Tetteh, Anthony Buawolor, Armah, Patience, Mukhtar, Abdul-Muheen, and Amponsah Duedu, Lois
- Abstract
This paper investigates the impact of capital flight on economic growth in Africa using 54 African countries from 2000 to 2021. The study employed the GMM and the dynamic panel threshold regression estimation techniques. GMM results revealed that capital flight negatively and significantly affects economic growth in Africa. The study also revealed that external debt repayment and outward foreign direct investment, proxies of capital flight, have a negative and significant effect on economic growth in Africa, except foreign portfolio investment outflow, which positively and insignificantly influences economic growth. Again, the dynamic panel threshold estimation results also revealed that capital flight negatively affects economic growth at all levels of capital flight in Africa. The study also revealed that all the proxies of capital flight, external debt repayments, foreign portfolio investment outflows, and outward foreign direct investment negatively and significantly affect economic growth above a certain threshold. However, external debt repayment has an insignificant negative effect on economic growth below the threshold in Africa. Based on the findings, African countries should implement stringent policies to curb capital flight and regulate external debt repayments and outward foreign direct investment to enhance economic growth. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
46. Estimating the elasticity of substitution: An index-number approach.
- Author
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Selvanathan, Eliyathamby A., Clements, Kenneth W., and Selvanathan, Saroja
- Subjects
- *
ELASTICITY (Economics) , *PRICE indexes , *INDEX numbers (Economics) , *PRICES - Abstract
This paper presents a new way to estimate the constant elasticity of substitution $ (\sigma ). $ (σ). We show that the link between $ \sigma $ σ and Divisia index numbers gives rise to a revealing way to obtain preliminary estimates of $ \sigma $ σ. This approach, which is related to stochastic index numbers, is illustrated with time-series and cross-country data. Using consumption data for 12 commodities over time from 23 European countries, we obtain 400 + estimates of $ \sigma $ σ, which mostly lie between 0 and 1. The cross-country estimates are broadly similar. Extensions of the approach to deal with endogenous prices and non-homothetic demand are also considered. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
47. Emigration and tax revenue.
- Author
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Gu, Yuanyuan and Ayala Garcia, Jhorland
- Subjects
- *
VALUE-added tax , *INTERNAL revenue , *EMIGRATION & immigration , *ANIMAL disease models , *CAPITAL gains ,DEVELOPING countries - Abstract
The World Migration Report 2020 shows that the number of international migrants increased from 84 million in 1970–272 million in 2019, accounting for 3.5% of the world’s population. This paper investigates the aggregated effect of emigration on the tax revenue of sending countries with a focus on developing nations. Using a gravity approach, we construct a time-varying exogenous instrument out of measures of changes in transportation technology from geographic time-invariant dyadic characteristics. Then, we follow an instrumental variable approach where we use our predicted emigration rate as an instrument of the observed migration rate. The results show that the predicted emigration rate is a good instrument of the current emigration rate for developing countries, and that there is a positive aggregated effect of emigration on tax revenue of sending countries. The results vary depending on the type of tax: emigration increases goods and services tax revenue, but it decreases income, profit, and capital gains tax revenue. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
48. Policy-induced distortion, market-oriented correction, and R&D spatial spillover – Empirical evidence from Chinese industry.
- Author
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Song, Wei, Wang, Xiang Yao, and He, Jing
- Subjects
- *
REGIONAL development , *TRANSITION economies , *DIFFUSION of innovations , *PANEL analysis , *GOVERNMENT policy - Abstract
The spatial spillover of R&D activities in transitional economies depends not only on distorted institutional gains caused by government policies, but also, to a large extent, on market-oriented corrections. This paper estimates the effect of policy-induced distortions and market-oriented corrections on R&D spatial spillovers using dynamic panel data from Chinese industry between 2000 and 2019. It is found that policy-induced distortion hinders the diffusion of elements of innovation into efficient R&D spaces and it reduces the spatial correlation between innovation elements. In addition, it does not have a significant effect on the improvement of R&D spatial spillover. Market-oriented correction optimizes the regional spatial distribution of factors involved in innovation and has a significant positive effect on R&D spatial spillover. The potential policy implications of the above conclusions lie in the improvement of the amount of R&D spatial spillover. This also includes the elimination of the fetters of policy-induced distortions and it depends to a great extent on the coordination of the development of regional innovation through the improvement of market-oriented innovation mechanisms. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
49. R&D, exports and employment growth: firm-level evidence using administrative data from South Africa.
- Author
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Naidoo, Karmen
- Subjects
- *
EMPLOYMENT , *RESEARCH questions , *INNOVATIONS in business , *EXPORTS - Abstract
This paper asks two main research questions. First, what is the relationship between firm-level innovation and export performance? Second, what is the direct effect of innovation on employment, while accounting for the indirect innovation-export link? I use a novel longitudinal administrative dataset of all firms registered to pay tax in South Africa, over 2010–2016. The first main result suggests a positive and significant relationship between innovation and export performance. Second, the fixed effects results show that direct innovation positively impacts employment growth in manufacturing firms, however, R&D-induced exports – the indirect channel – negatively impacts employment growth. This points to the notion that productivity enhancements necessary for South African manufacturing exporters to compete internationally might promote labor-saving innovations. Nonetheless, the overall innovation effect on firm employment growth is positive. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
50. On trade policy and workers' transition between the formal and informal sectors: An application to the MENA region in the time of COVID-19.
- Author
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Karam, Fida and Zaki, Chahir
- Subjects
- *
INFORMAL sector , *COMMERCIAL policy , *TRADE regulation , *COVID-19 pandemic , *COVID-19 , *ECONOMIC research , *SERVICE industries - Abstract
This paper looks at the transition of workers in the MENA region between formal and informal jobs during the COVID-19 pandemic, and investigates whether trade policy could be adopted as a measure to enhance the transition of workers from the informal to the formal sector. We use the combined COVID-19 MENA Monitor Household Survey constructed by the Economic Research Forum for 5 MENA countries and 11 sectors. This topic is timely and critical for the MENA region where informal employment is widespread, applied tariffs are still high, and female labor participation is low. Our results show that: first, fewer trade restrictions are associated with an increased probability for the worker to become formal and this effect is more pronounced post-pandemic. Second, fewer trade restrictions are linked to an increase in the probability of becoming formal for blue collars only, with an insignificant effect on white collars. Third, fewer trade restrictions are associated with an increase in the probability of men to become formal, with an insignificant effect on women. Finally, the effect of trade policy on job formality depends on the sectoral occupation of the individual with this effect being more pronounced in agriculture and manufacturing relatively to services sectors. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
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