Pub Date : 2021-03-19DOI: 10.1080/08853908.2021.1897960
E. Devadason, M. Mubarik
ABSTRACT Arguably, leveraging the intraregional market is important for a commodity like palm oil that constantly faces challenges to sustain global demand in extraregional markets. The article, therefore, compares intraregional export potentials for palm oil in two regions that are at the frontier for palm oil expansion, Southeast Asia and Latin America. The study employs a stochastic frontier gravity model to estimate intraregional export performance. The results indicate large untapped potentials and low-efficiency levels in both regions. The evidence further suggests that the export potential limiting factors have increased over time.
{"title":"Intraregional Export Flows and Export Efficiency in Palm Oil and Palm-Based Products: Southeast Asia and Latin America Regions Compared","authors":"E. Devadason, M. Mubarik","doi":"10.1080/08853908.2021.1897960","DOIUrl":"https://doi.org/10.1080/08853908.2021.1897960","url":null,"abstract":"ABSTRACT Arguably, leveraging the intraregional market is important for a commodity like palm oil that constantly faces challenges to sustain global demand in extraregional markets. The article, therefore, compares intraregional export potentials for palm oil in two regions that are at the frontier for palm oil expansion, Southeast Asia and Latin America. The study employs a stochastic frontier gravity model to estimate intraregional export performance. The results indicate large untapped potentials and low-efficiency levels in both regions. The evidence further suggests that the export potential limiting factors have increased over time.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/08853908.2021.1897960","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48045313","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 : 2021-03-08DOI: 10.1080/08853908.2021.1887780
Anusua Datta
ABSTRACT A partial equilibrium trade model is used to test the role of vertical linkages and home market effects on the pattern of U.S. apparel trade, while controlling for trade costs and comparative advantage. Input output data is used to investigate the significance of linkages between the apparel and textile industries. Industrial production data is used to provide industry specific estimates of the home market effect. We find strong evidence of home market effects that increase with the phasing out of apparel quotas. Strong linkages between the apparel and textile industries in the exporting country are positively correlated with apparel exports.
{"title":"Economic Geography of U.S. Apparel Trade: Home Market and Vertical Linkage Effects","authors":"Anusua Datta","doi":"10.1080/08853908.2021.1887780","DOIUrl":"https://doi.org/10.1080/08853908.2021.1887780","url":null,"abstract":"ABSTRACT A partial equilibrium trade model is used to test the role of vertical linkages and home market effects on the pattern of U.S. apparel trade, while controlling for trade costs and comparative advantage. Input output data is used to investigate the significance of linkages between the apparel and textile industries. Industrial production data is used to provide industry specific estimates of the home market effect. We find strong evidence of home market effects that increase with the phasing out of apparel quotas. Strong linkages between the apparel and textile industries in the exporting country are positively correlated with apparel exports.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/08853908.2021.1887780","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43987626","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 : 2021-02-22DOI: 10.1080/08853908.2021.1877217
D. Nguyen
ABSTRACT In this article, I empirically examine the employment effect of minimum wages using firm-level data on Vietnamese manufacturing and find that minimum wages have a positive association with a firm’s female employment. This effect is the highest in automotive and engineering manufactures, and the lowest in textile, garment, and footwear manufactures. Alternative regressions provide evidence that the higher the total factor productivity, the increased female labor share, and the higher pay to their employees, the stronger the female employment effect. The female employment impact is positive, but this impact weakened after the uniform minimum wage rate was applied in 2012.
{"title":"Do Minimum Wages Increase Female Employment? Evidence from Vietnamese Manufacturing Firms","authors":"D. Nguyen","doi":"10.1080/08853908.2021.1877217","DOIUrl":"https://doi.org/10.1080/08853908.2021.1877217","url":null,"abstract":"ABSTRACT In this article, I empirically examine the employment effect of minimum wages using firm-level data on Vietnamese manufacturing and find that minimum wages have a positive association with a firm’s female employment. This effect is the highest in automotive and engineering manufactures, and the lowest in textile, garment, and footwear manufactures. Alternative regressions provide evidence that the higher the total factor productivity, the increased female labor share, and the higher pay to their employees, the stronger the female employment effect. The female employment impact is positive, but this impact weakened after the uniform minimum wage rate was applied in 2012.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/08853908.2021.1877217","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45453556","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 : 2021-02-18DOI: 10.1080/08853908.2021.1878075
G. Clarke
If current trends continue, non-Hispanic whites will no longer be a majority in the United States (US) by 2050. In his fascinating book, Diversity Explosion, Frey discusses why this is happening, how it could cause a cultural and political generation gap, how it will affect different regions, and how trends have changed over time. Slow population growth among non-Hispanic whites partially explains why minorities make up an increasing share of the population. However, the increase also reflects the rapid growth of Hispanic, Asian, and multiracial populations, groups that Frey calls the “new minorities.” He notes that between 2015 and 2060, the Hispanic population should increase by 96%, the Asian population by 103%, and the multiracial population by 300%. By contrast, the non-Hispanic white population will fall by 10%, and the AfricanAmerican population will grow by only 37%. Frey notes that reducing immigration would slow, but not reverse, these trends. While the first chapter focuses on the overall trends, later chapters describe how diversity has evolved in different regions. Frey also notes that trends that were visible before the 1990s have changed dramatically. Immigrant Asian and Hispanic populations no longer cluster in a few cities and states. The great migration of African Americans from the South to the North has reversed, and ‘white flight’ from cities to nearby suburbs no longer drives suburban growth. Frey divides the country into three broad regions. The first, which he refers to as the traditional melting pot, is where most Asian and Hispanic immigrants entered the US in the 1980s and early 1990s. The melting pot states of California, New York, Texas, New Mexico, Illinois, and Florida became diverse quickly. California, Texas, and New Mexico became majority-minority states by the early 2000s; non-Hispanic whites made up less than half of their populations (Teixeira, Frey, and Griffin 2015). Frey argues that this growth led to fears the country would become balkanized, with new minority populations growing in the melting pot states, while the rest of the country remained predominantly white. This pattern, however, ended in the late 1990s as other states started to become increasingly diverse. States in the West and Southeast like Washington, Nevada, Arizona, Georgia, and Virginia, which Frey refers to as the new sunbelt, were growing during the 1980s and early 1990s. This early growth, however, was due to internal white migration from other states. In the late 1990s, more new minority immigrants started moving to the new sunbelt and African Americans started migrating from the North to the South. Some new sunbelt states, including Nevada, Arizona, and Georgia, should become majority-minority states by the mid-2020s (Teixeira, Frey, and Griffin 2015). The remaining states, which Frey calls the heartland, were growing slowly or shrinking in the 1980s and early 1990s, but these states also started attracting new minority immigrants in
{"title":"Diversity Explosion: How New Racial Demographics Are Remaking America","authors":"G. Clarke","doi":"10.1080/08853908.2021.1878075","DOIUrl":"https://doi.org/10.1080/08853908.2021.1878075","url":null,"abstract":"If current trends continue, non-Hispanic whites will no longer be a majority in the United States (US) by 2050. In his fascinating book, Diversity Explosion, Frey discusses why this is happening, how it could cause a cultural and political generation gap, how it will affect different regions, and how trends have changed over time. Slow population growth among non-Hispanic whites partially explains why minorities make up an increasing share of the population. However, the increase also reflects the rapid growth of Hispanic, Asian, and multiracial populations, groups that Frey calls the “new minorities.” He notes that between 2015 and 2060, the Hispanic population should increase by 96%, the Asian population by 103%, and the multiracial population by 300%. By contrast, the non-Hispanic white population will fall by 10%, and the AfricanAmerican population will grow by only 37%. Frey notes that reducing immigration would slow, but not reverse, these trends. While the first chapter focuses on the overall trends, later chapters describe how diversity has evolved in different regions. Frey also notes that trends that were visible before the 1990s have changed dramatically. Immigrant Asian and Hispanic populations no longer cluster in a few cities and states. The great migration of African Americans from the South to the North has reversed, and ‘white flight’ from cities to nearby suburbs no longer drives suburban growth. Frey divides the country into three broad regions. The first, which he refers to as the traditional melting pot, is where most Asian and Hispanic immigrants entered the US in the 1980s and early 1990s. The melting pot states of California, New York, Texas, New Mexico, Illinois, and Florida became diverse quickly. California, Texas, and New Mexico became majority-minority states by the early 2000s; non-Hispanic whites made up less than half of their populations (Teixeira, Frey, and Griffin 2015). Frey argues that this growth led to fears the country would become balkanized, with new minority populations growing in the melting pot states, while the rest of the country remained predominantly white. This pattern, however, ended in the late 1990s as other states started to become increasingly diverse. States in the West and Southeast like Washington, Nevada, Arizona, Georgia, and Virginia, which Frey refers to as the new sunbelt, were growing during the 1980s and early 1990s. This early growth, however, was due to internal white migration from other states. In the late 1990s, more new minority immigrants started moving to the new sunbelt and African Americans started migrating from the North to the South. Some new sunbelt states, including Nevada, Arizona, and Georgia, should become majority-minority states by the mid-2020s (Teixeira, Frey, and Griffin 2015). The remaining states, which Frey calls the heartland, were growing slowly or shrinking in the 1980s and early 1990s, but these states also started attracting new minority immigrants in ","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/08853908.2021.1878075","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43991721","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 : 2021-02-12DOI: 10.1080/08853908.2021.1880990
Francis Ejones, F. W. Agbola, A. Mahmood
ABSTRACT This article empirically investigates the impact of the East African Community (EAC) on economic growth. We utilized a comprehensive panel data spanning from 1988 to 2017. We estimated an endogenous growth model using feasible generalized least squares (FGLS) and panel corrected standard error (PCSE) estimators. Regional trade agreements (RTAs) and trade openness enhance economic growth. RTAs in the same region have a more significant impact on economic growth than plurilateral and multilateral RTAs. Regionalism in the EAC has heterogeneous country effects on economic growth. Our results are robust to alternative model specifications, highlighting the importance of RTAs in enhancing economic growth.
{"title":"Regional Integration and Economic Growth: New Empirical Evidence from the East African Community","authors":"Francis Ejones, F. W. Agbola, A. Mahmood","doi":"10.1080/08853908.2021.1880990","DOIUrl":"https://doi.org/10.1080/08853908.2021.1880990","url":null,"abstract":"ABSTRACT This article empirically investigates the impact of the East African Community (EAC) on economic growth. We utilized a comprehensive panel data spanning from 1988 to 2017. We estimated an endogenous growth model using feasible generalized least squares (FGLS) and panel corrected standard error (PCSE) estimators. Regional trade agreements (RTAs) and trade openness enhance economic growth. RTAs in the same region have a more significant impact on economic growth than plurilateral and multilateral RTAs. Regionalism in the EAC has heterogeneous country effects on economic growth. Our results are robust to alternative model specifications, highlighting the importance of RTAs in enhancing economic growth.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/08853908.2021.1880990","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44388036","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 : 2021-01-20DOI: 10.1080/08853908.2020.1859021
Nasreen Nawaz
ABSTRACT The existing literature does not consider the efficiency losses on the adjustment path after a trade facilitation policy is adopted. After a trade facilitation measure, the cost of the foreign producer gets a downward jump, which affects imports, and the market gets out of equilibrium. The market supply and demand get adjusted over time until the post-policy equilibrium arrives. The adjustment of price is based on the lack of coordination among agents at the existing prices. An optimal trade facilitation policy subject to a cost constraint has been derived, which minimizes the efficiency losses on the adjustment path.
{"title":"A Dynamic Optimal Trade Facilitation Policy","authors":"Nasreen Nawaz","doi":"10.1080/08853908.2020.1859021","DOIUrl":"https://doi.org/10.1080/08853908.2020.1859021","url":null,"abstract":"ABSTRACT The existing literature does not consider the efficiency losses on the adjustment path after a trade facilitation policy is adopted. After a trade facilitation measure, the cost of the foreign producer gets a downward jump, which affects imports, and the market gets out of equilibrium. The market supply and demand get adjusted over time until the post-policy equilibrium arrives. The adjustment of price is based on the lack of coordination among agents at the existing prices. An optimal trade facilitation policy subject to a cost constraint has been derived, which minimizes the efficiency losses on the adjustment path.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/08853908.2020.1859021","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41699958","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 : 2021-01-02DOI: 10.1080/08853908.2020.1852984
Chu V. Nguyen
ABSTRACT This investigation documented the following. First, commercial banks in Colombia and Mexico overshot in their lending rate adjustments and practiced predatory pricing in the credit markets. Second, the institutions in Bolivia, Costa Rica, and Honduras were sluggish in their short-run lending rate adjustments and lowered their lending rate more in the long run. Third, Brazilian banks adjusted their lending rates down when their deposit rates increased in the short run, and drastically increased them in the long run. Thus, to promote economic growth and improve the living standard of the populace, these hindrances in Latin American economies must be rectified.
{"title":"Deposit Rate Pass-Through in Selected Latin American Economies over the Post-2008 World","authors":"Chu V. Nguyen","doi":"10.1080/08853908.2020.1852984","DOIUrl":"https://doi.org/10.1080/08853908.2020.1852984","url":null,"abstract":"ABSTRACT This investigation documented the following. First, commercial banks in Colombia and Mexico overshot in their lending rate adjustments and practiced predatory pricing in the credit markets. Second, the institutions in Bolivia, Costa Rica, and Honduras were sluggish in their short-run lending rate adjustments and lowered their lending rate more in the long run. Third, Brazilian banks adjusted their lending rates down when their deposit rates increased in the short run, and drastically increased them in the long run. Thus, to promote economic growth and improve the living standard of the populace, these hindrances in Latin American economies must be rectified.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/08853908.2020.1852984","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48750199","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 : 2020-12-10DOI: 10.1080/08853908.2020.1847217
Mohammad N. Islam, Clark M. Wheatley
ABSTRACT We examine the association between climate risk and trade credit. We predict that firms exposed to climate risk-driven liquidity shocks prefer to use less trade credit. Using the Global Climate Risk Index of 86 countries, we find that firms located in countries characterized by severe weather events prefer to use less trade credit. In additional analyses, we find that the negative association between trade credit and climate risk is more pronounced for firms with more volatile cash flow and less collateral. Our results are robust to the use of alternative climate risk measure, alternative econometric methods, and exclusion of outliers.
{"title":"Impact of Climate Risk on Firms’ Use of Trade Credit: International Evidence","authors":"Mohammad N. Islam, Clark M. Wheatley","doi":"10.1080/08853908.2020.1847217","DOIUrl":"https://doi.org/10.1080/08853908.2020.1847217","url":null,"abstract":"ABSTRACT We examine the association between climate risk and trade credit. We predict that firms exposed to climate risk-driven liquidity shocks prefer to use less trade credit. Using the Global Climate Risk Index of 86 countries, we find that firms located in countries characterized by severe weather events prefer to use less trade credit. In additional analyses, we find that the negative association between trade credit and climate risk is more pronounced for firms with more volatile cash flow and less collateral. Our results are robust to the use of alternative climate risk measure, alternative econometric methods, and exclusion of outliers.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/08853908.2020.1847217","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49358033","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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