Pub Date : 2022-05-01DOI: 10.1177/00157325211072923
Mohd Fayaz, S. Kaur
The present study attempts to examine the structural changes in Indian merchandise exports to Asia during the period 1980–2016 by using Constant Market Share (CMS) analysis. The index values of the CMS analysis suggest that India has mostly maintained and strengthened its export market share primarily in resource-based and low tech/labour-intensive products. Major technology-intensive exports include organic chemicals and dyes and colouring materials to all its export destinations in Asia. The market effect result shows a positive impact on India’s export performance which suggests that India has diversified its exports to South Asia, Southeast Asia and West and Central Asia. However, market adaptation effect result shows negative impact in East Asian market which means that India is lacking in adapting the import structure of this market. JEL Codes: F1, F14, F43, L6, O53
{"title":"India’s Merchandise Exports to Asia: A Constant Market Share Analysis","authors":"Mohd Fayaz, S. Kaur","doi":"10.1177/00157325211072923","DOIUrl":"https://doi.org/10.1177/00157325211072923","url":null,"abstract":"The present study attempts to examine the structural changes in Indian merchandise exports to Asia during the period 1980–2016 by using Constant Market Share (CMS) analysis. The index values of the CMS analysis suggest that India has mostly maintained and strengthened its export market share primarily in resource-based and low tech/labour-intensive products. Major technology-intensive exports include organic chemicals and dyes and colouring materials to all its export destinations in Asia. The market effect result shows a positive impact on India’s export performance which suggests that India has diversified its exports to South Asia, Southeast Asia and West and Central Asia. However, market adaptation effect result shows negative impact in East Asian market which means that India is lacking in adapting the import structure of this market. JEL Codes: F1, F14, F43, L6, O53","PeriodicalId":29933,"journal":{"name":"Foreign Trade Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76800218","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-28DOI: 10.1177/00157325221092614
Nadia Doytch
The economic crisis caused by the COVID-19 pandemic invokes questions about a possible prolonged economic deceleration. In this article, we study the impact of output growth accelerations and decelerations, as per the definition of Arbache and Page (2007, More growth or fewer collapses? A new look at long run growth in Sub-Saharan Africa [Working Paper 4384]) and Conceicao and Kim (2010, The asymmetric impact of growth fluctuation on human development: Evidence from correlates of growth decelerations and accelerations. Mimeo), on sector-level foreign direct investment (FDI) inflows and outflows for a group of 34 OECD countries in the period 1995–2019. The results show that Finance services FDI and transport services FDI inflows are countercyclical, while manufacturing FDI outflows are procyclical. Transport services FDI outflows are countercyclical, and the most significant determinant of both FDI inflows and outflows is the control of corruption, respectively, in the host and home countries. JEL Codes: F21, O16, O19
{"title":"FDI: Hot or Cold Money? The Behaviour of Sectoral FDI Inflows and Outflows Over Periods of Growth Accelerations and Decelerations","authors":"Nadia Doytch","doi":"10.1177/00157325221092614","DOIUrl":"https://doi.org/10.1177/00157325221092614","url":null,"abstract":"The economic crisis caused by the COVID-19 pandemic invokes questions about a possible prolonged economic deceleration. In this article, we study the impact of output growth accelerations and decelerations, as per the definition of Arbache and Page (2007, More growth or fewer collapses? A new look at long run growth in Sub-Saharan Africa [Working Paper 4384]) and Conceicao and Kim (2010, The asymmetric impact of growth fluctuation on human development: Evidence from correlates of growth decelerations and accelerations. Mimeo), on sector-level foreign direct investment (FDI) inflows and outflows for a group of 34 OECD countries in the period 1995–2019. The results show that Finance services FDI and transport services FDI inflows are countercyclical, while manufacturing FDI outflows are procyclical. Transport services FDI outflows are countercyclical, and the most significant determinant of both FDI inflows and outflows is the control of corruption, respectively, in the host and home countries. JEL Codes: F21, O16, O19","PeriodicalId":29933,"journal":{"name":"Foreign Trade Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87503847","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-24DOI: 10.1177/00157325221095634
D. Chakraborty
Soumyen Sikdar, Ramesh Chandra Das and Rajib Bhattacharyya (Eds), Role of IT–ITES in Economic Development of Asia: Issues of Growth, Sustainability and Governance. Springer, 2020, pp. 329, Ä109.99 (Hardback), Ä79.99 (Paperback), ISBN 978-981-15-4205-3.
{"title":"Book review: Soumyen Sikdar, Ramesh Chandra Das and Rajib Bhattacharyya (Eds), Role of IT–ITES in Economic Development of Asia: Issues of Growth, Sustainability and Governance","authors":"D. Chakraborty","doi":"10.1177/00157325221095634","DOIUrl":"https://doi.org/10.1177/00157325221095634","url":null,"abstract":"Soumyen Sikdar, Ramesh Chandra Das and Rajib Bhattacharyya (Eds), Role of IT–ITES in Economic Development of Asia: Issues of Growth, Sustainability and Governance. Springer, 2020, pp. 329, Ä109.99 (Hardback), Ä79.99 (Paperback), ISBN 978-981-15-4205-3.","PeriodicalId":29933,"journal":{"name":"Foreign Trade Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86293692","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-18DOI: 10.1177/00157325221076219
Shipra Bhatia
Pooja Lakhanpal, Jaydeep Mukherjee, Biswajit Nag and Divya Tuteja (Eds.), Trade, Investment and Economic Growth: Issues for India and Emerging Economies, Springer Nature Singapore, 2021, €119, 396 pp. (Hardcover). ISBN: 978-981-33-6972-6.
{"title":"Book review: Pooja Lakhanpal, Jaydeep Mukherjee, Biswajit Nag and Divya Tuteja (Eds.), Trade, Investment and Economic Growth: Issues for India and Emerging Economies","authors":"Shipra Bhatia","doi":"10.1177/00157325221076219","DOIUrl":"https://doi.org/10.1177/00157325221076219","url":null,"abstract":"Pooja Lakhanpal, Jaydeep Mukherjee, Biswajit Nag and Divya Tuteja (Eds.), Trade, Investment and Economic Growth: Issues for India and Emerging Economies, Springer Nature Singapore, 2021, €119, 396 pp. (Hardcover). ISBN: 978-981-33-6972-6.","PeriodicalId":29933,"journal":{"name":"Foreign Trade Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72414789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-08DOI: 10.1177/00157325221088707
Mohammad Azeem Khan, Z. Fatima, Sumbul Fatima
The recent global migration pattern indicates the importance of the movement of people from developing countries to developed countries in search of better economic opportunities. The G20 report of ‘International Migration and Displacement Trends’ mentions India at the top of the list of highly educated emigrants in G20 countries. The current study addresses the endogeneity problem in the migration determinants and attempts to highlight the major regional and economic determinants of migration flow from India to major OECD countries using the Gravity model of migration. We apply the Prais–Winsten regression method to address the cross-sectional correlation, while we apply instrumental variable regression and Hausman–Taylor regression estimation techniques to deal with the endogeneity issue. The findings reveal that the population of India, distance, common official language and per capita income differential are the major determinants of migration from India. In the backdrop of our findings, in terms of per capita income differential, there is a need for an upward revision in the pay scale of the white-collar workers in the organised sector. JEL Codes: C23, F22, J11, J60
{"title":"Revisiting the Gravity Model of Migration","authors":"Mohammad Azeem Khan, Z. Fatima, Sumbul Fatima","doi":"10.1177/00157325221088707","DOIUrl":"https://doi.org/10.1177/00157325221088707","url":null,"abstract":"The recent global migration pattern indicates the importance of the movement of people from developing countries to developed countries in search of better economic opportunities. The G20 report of ‘International Migration and Displacement Trends’ mentions India at the top of the list of highly educated emigrants in G20 countries. The current study addresses the endogeneity problem in the migration determinants and attempts to highlight the major regional and economic determinants of migration flow from India to major OECD countries using the Gravity model of migration. We apply the Prais–Winsten regression method to address the cross-sectional correlation, while we apply instrumental variable regression and Hausman–Taylor regression estimation techniques to deal with the endogeneity issue. The findings reveal that the population of India, distance, common official language and per capita income differential are the major determinants of migration from India. In the backdrop of our findings, in terms of per capita income differential, there is a need for an upward revision in the pay scale of the white-collar workers in the organised sector. JEL Codes: C23, F22, J11, J60","PeriodicalId":29933,"journal":{"name":"Foreign Trade Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91222636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-29DOI: 10.1177/00157325221084479
D. Mukhopadhyay, S. Pohit, D. Gupta
The main objective of this article is to showcase the major activities/processes each exporter/importer needs to go through in any land port, seaport or airport. The article looks into the processes, time taken during various processes, the perceptions of stakeholders about the extent of challenges they face during these processes and the logistics costs. Finally, the article provides a comparison across exporting ports in terms of their efficiency in clearing cargo. However, we have also attempted to measure of the efficiency of the port in terms of cargo offloading. JEL Codes: P45, R41, R48, Q37
{"title":"Measuring Export Related Port Logistics in India: An Attempt to Rank Major Ports","authors":"D. Mukhopadhyay, S. Pohit, D. Gupta","doi":"10.1177/00157325221084479","DOIUrl":"https://doi.org/10.1177/00157325221084479","url":null,"abstract":"The main objective of this article is to showcase the major activities/processes each exporter/importer needs to go through in any land port, seaport or airport. The article looks into the processes, time taken during various processes, the perceptions of stakeholders about the extent of challenges they face during these processes and the logistics costs. Finally, the article provides a comparison across exporting ports in terms of their efficiency in clearing cargo. However, we have also attempted to measure of the efficiency of the port in terms of cargo offloading. JEL Codes: P45, R41, R48, Q37","PeriodicalId":29933,"journal":{"name":"Foreign Trade Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91046008","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-03DOI: 10.1177/00157325221077004
Mohini Gupta, S. Varshney
This article aims to explore the asymmetric influence of real exchange rate volatility on India–US trade commodity-wise. In this study, the assumption of symmetric relation is neglected and assessed on the asymmetric effect of real exchange rate volatility on 90 commodities distributed under 6 industries. This study verifies short-run and long-run asymmetry effects, the short-run effect in 21 Indian exporting commodities and 19 Indian importing commodities. However, the short-run effect lasting onto the long run in 16 exporting commodities and 27 importing commodities strongly supports the J-curve. Also, non-linear causality is witnessed in this study running from real exchange rate variability to export trade and import trade. The empirical analyses explain that commodities will benefit the export or import growth with the depreciation of exchange rate or discouraging with the appreciation of exchange rate. The findings of the study provide a view for policy making. JEL Codes: C22, F1, F14, F31, O19
{"title":"Non-linear Effect of Real Exchange Rate Variability with Macroeconomic Variable on Non-Petroleum Commodities of India– US Trade","authors":"Mohini Gupta, S. Varshney","doi":"10.1177/00157325221077004","DOIUrl":"https://doi.org/10.1177/00157325221077004","url":null,"abstract":"This article aims to explore the asymmetric influence of real exchange rate volatility on India–US trade commodity-wise. In this study, the assumption of symmetric relation is neglected and assessed on the asymmetric effect of real exchange rate volatility on 90 commodities distributed under 6 industries. This study verifies short-run and long-run asymmetry effects, the short-run effect in 21 Indian exporting commodities and 19 Indian importing commodities. However, the short-run effect lasting onto the long run in 16 exporting commodities and 27 importing commodities strongly supports the J-curve. Also, non-linear causality is witnessed in this study running from real exchange rate variability to export trade and import trade. The empirical analyses explain that commodities will benefit the export or import growth with the depreciation of exchange rate or discouraging with the appreciation of exchange rate. The findings of the study provide a view for policy making. JEL Codes: C22, F1, F14, F31, O19","PeriodicalId":29933,"journal":{"name":"Foreign Trade Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83433824","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-03DOI: 10.1177/00157325221077007
N. Haq
Foreign direct investment (FDI) improves economic growth by stimulating native investment, facilitating technology transfers in the recipient country and increasing human capital development, thus playing a vital role in economic development. On the other hand, innovation is also considered one of the major drivers for the economic growth of a country. This study empirically investigates the impact of FDI and its absorption capacity on the national innovation system of the world’s top five largest FDI recipient countries for the period of 1990–2016. Using two-stage analysis (DEA and Tobit regression), we found that research and development expenditures, researchers in the host country and the number of patents, trademark and industrial design applications are positive drivers of the national innovation systems. Moreover, the FDI inflows positively impact the innovation efficiency in the host countries. However, the strength of this relationship depends on the availability of the absorption capacity of FDI in the host country. The result shows that the global financial crisis and inflation negatively impact the FDI inflows and innovation efficiency in the sample countries. It concludes that FDI inflows and the country’s strength of domestic absorption capacity are essential drivers for developing national innovation ecosystems. JEL Codes: F1, F4, G10, M21
{"title":"Impact of FDI and Its Absorption Capacity on the National Innovation Ecosystems: Evidence from the Largest FDI Recipient Countries of the World","authors":"N. Haq","doi":"10.1177/00157325221077007","DOIUrl":"https://doi.org/10.1177/00157325221077007","url":null,"abstract":"Foreign direct investment (FDI) improves economic growth by stimulating native investment, facilitating technology transfers in the recipient country and increasing human capital development, thus playing a vital role in economic development. On the other hand, innovation is also considered one of the major drivers for the economic growth of a country. This study empirically investigates the impact of FDI and its absorption capacity on the national innovation system of the world’s top five largest FDI recipient countries for the period of 1990–2016. Using two-stage analysis (DEA and Tobit regression), we found that research and development expenditures, researchers in the host country and the number of patents, trademark and industrial design applications are positive drivers of the national innovation systems. Moreover, the FDI inflows positively impact the innovation efficiency in the host countries. However, the strength of this relationship depends on the availability of the absorption capacity of FDI in the host country. The result shows that the global financial crisis and inflation negatively impact the FDI inflows and innovation efficiency in the sample countries. It concludes that FDI inflows and the country’s strength of domestic absorption capacity are essential drivers for developing national innovation ecosystems. JEL Codes: F1, F4, G10, M21","PeriodicalId":29933,"journal":{"name":"Foreign Trade Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81742512","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-16DOI: 10.1177/00157325221077003
Chung Van Dong, H. Truong
This study, by employing an augmented gravity model under the Poisson pseudo-maximum-likelihood (PPML) estimation, aims to scrutinise the determinants and potential of seafood exports from Vietnam—a transitional and emerging economy to the global market over the period of 2000–2018 at both aggregate and sectoral levels. With remarkable growth over the years, Vietnam has become the largest seafood exporter in Southeast Asia. The country’s seafood exports have been diversified in terms of export structure and export markets. The estimation results show that the size of economies and market development from importers are the main factors that are driving Vietnam’s total seafood exports. At the sectoral level, the magnitude of the effects of income per capita significantly differs among the subsectors of seafood. We find that the impacts of factors such as region, access to the World Trade Organization (WTO) and the free trade agreement (FTA) establishment on Vietnam’s seafood exports are heterogeneous. We found that there is still room for the expansion of Vietnam’s seafood exports to some market destinations. This article suggests a dynamic strategy to increase Vietnam’s seafood exports in the coming years. JEL Codes: F1, F14, Q1
{"title":"Determinants and Potential of Seafood Trade: Evidence from a Transitional Economy","authors":"Chung Van Dong, H. Truong","doi":"10.1177/00157325221077003","DOIUrl":"https://doi.org/10.1177/00157325221077003","url":null,"abstract":"This study, by employing an augmented gravity model under the Poisson pseudo-maximum-likelihood (PPML) estimation, aims to scrutinise the determinants and potential of seafood exports from Vietnam—a transitional and emerging economy to the global market over the period of 2000–2018 at both aggregate and sectoral levels. With remarkable growth over the years, Vietnam has become the largest seafood exporter in Southeast Asia. The country’s seafood exports have been diversified in terms of export structure and export markets. The estimation results show that the size of economies and market development from importers are the main factors that are driving Vietnam’s total seafood exports. At the sectoral level, the magnitude of the effects of income per capita significantly differs among the subsectors of seafood. We find that the impacts of factors such as region, access to the World Trade Organization (WTO) and the free trade agreement (FTA) establishment on Vietnam’s seafood exports are heterogeneous. We found that there is still room for the expansion of Vietnam’s seafood exports to some market destinations. This article suggests a dynamic strategy to increase Vietnam’s seafood exports in the coming years. JEL Codes: F1, F14, Q1","PeriodicalId":29933,"journal":{"name":"Foreign Trade Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84748230","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-06DOI: 10.1177/00157325211073848
Saon Ray, Smita Miglani
In this article, we examine the Indian garment industry to examine the effect of clusters on the sales of this industry. The data has been collected through a primary survey in five garments clusters in India. The variable that is significant in explaining sales in most equations is technology proxied by imported machinery. It has been argued that inter-firm linkages and linkages between firms, service providers and institutions are crucial for competitiveness and this is best achieved through a cluster. Studies on clusters have shown that some clusters have been able to deepen their inter-firm division of labour, raise their competitiveness and break into international markets. The development of the cluster in India has followed the ‘top-down’ approach and the natural process through which linkages are developed are yet to occur in most clusters. JEL Codes: F14, L67, L23
{"title":"The Role of Technology in Increasing Competitiveness: An Examination of the Indian Garment Clusters","authors":"Saon Ray, Smita Miglani","doi":"10.1177/00157325211073848","DOIUrl":"https://doi.org/10.1177/00157325211073848","url":null,"abstract":"In this article, we examine the Indian garment industry to examine the effect of clusters on the sales of this industry. The data has been collected through a primary survey in five garments clusters in India. The variable that is significant in explaining sales in most equations is technology proxied by imported machinery. It has been argued that inter-firm linkages and linkages between firms, service providers and institutions are crucial for competitiveness and this is best achieved through a cluster. Studies on clusters have shown that some clusters have been able to deepen their inter-firm division of labour, raise their competitiveness and break into international markets. The development of the cluster in India has followed the ‘top-down’ approach and the natural process through which linkages are developed are yet to occur in most clusters. JEL Codes: F14, L67, L23","PeriodicalId":29933,"journal":{"name":"Foreign Trade Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89537548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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