Pub Date : 2022-10-25DOI: 10.1080/08853908.2022.2134233
J. Payne, Ş. Nazlıoğlu, Andrea Mervar, F. Niroomand
ABSTRACT This study extends the literature with respect to economic policy uncertainty measures and tourism flows to Croatia through the use of the Toda and Yamamoto modeling approach with a Fourier approximation to capture structural breaks. The results show that domestic economic policy uncertainty does not have a significant impact on tourist overnight stays. However, an increase in European economic policy uncertainty reduces total and domestic tourist overnight stays. An increase in COVID-19 cases has a negative and significant impact on total, domestic, and foreign tourist overnight stays, and contributes to increases in both Croatian and European economic policy uncertainty.
{"title":"Economic Policy Uncertainty, COVID-19, and Tourist Stays in Croatia: Evidence from a Fourier Toda-Yamamoto Modeling Approach","authors":"J. Payne, Ş. Nazlıoğlu, Andrea Mervar, F. Niroomand","doi":"10.1080/08853908.2022.2134233","DOIUrl":"https://doi.org/10.1080/08853908.2022.2134233","url":null,"abstract":"ABSTRACT This study extends the literature with respect to economic policy uncertainty measures and tourism flows to Croatia through the use of the Toda and Yamamoto modeling approach with a Fourier approximation to capture structural breaks. The results show that domestic economic policy uncertainty does not have a significant impact on tourist overnight stays. However, an increase in European economic policy uncertainty reduces total and domestic tourist overnight stays. An increase in COVID-19 cases has a negative and significant impact on total, domestic, and foreign tourist overnight stays, and contributes to increases in both Croatian and European economic policy uncertainty.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43767683","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 : 2022-10-24DOI: 10.1080/08853908.2022.2134947
T. Ahmed, Q. Malik, Babar Zaheer Butt, Muhammad Aksar
ABSTRACT The research objective is to determine the curvilinear influence of trading of foreign institutional investors (FIIs) on the extent of tunneling, while corporate governance moderates this relationship. Data was gathered from 50 non-financial firms for 11 years (2009 to 2019) from the Securities and Exchange Commission of Pakistan. The generalized method of moments (GMM) was applied and results supported the objectives of this study. Involvement of FIIs may contribute to the enhancement of market discipline but may also create problems. Thus, policymakers require protecting the rights of minor shareholders against adverse influence.
{"title":"Role of Corporate Governance to Restrict Tunneling Activities of Foreign Institutional Investors in the Pakistan Stock Market","authors":"T. Ahmed, Q. Malik, Babar Zaheer Butt, Muhammad Aksar","doi":"10.1080/08853908.2022.2134947","DOIUrl":"https://doi.org/10.1080/08853908.2022.2134947","url":null,"abstract":"ABSTRACT The research objective is to determine the curvilinear influence of trading of foreign institutional investors (FIIs) on the extent of tunneling, while corporate governance moderates this relationship. Data was gathered from 50 non-financial firms for 11 years (2009 to 2019) from the Securities and Exchange Commission of Pakistan. The generalized method of moments (GMM) was applied and results supported the objectives of this study. Involvement of FIIs may contribute to the enhancement of market discipline but may also create problems. Thus, policymakers require protecting the rights of minor shareholders against adverse influence.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-10-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42164719","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 : 2022-10-11DOI: 10.1080/08853908.2022.2128478
Melody Lo, D. Lien, David C. Bojanic
ABSTRACT It has been recognized that cultural institute programs that first started after World War II and aim to improve language familiarity and cultural awareness are beneficial for FDI and trade. We use gravity models to examine the impact from both the German Goethe-Institut and Chinese Confucius Institute (two large-scaled cultural institute programs) on tourism arrivals, a form of international trade. We find a positive impact on tourism arrivals from the Confucius Institute program but a negative impact from the Goethe-Institut program. In addition, both the Goethe-Institut and Confucius Institute programs help to reduce the impact of linguistic distance on international tourism.
{"title":"The Impact of Cultural Institutes on International Tourism","authors":"Melody Lo, D. Lien, David C. Bojanic","doi":"10.1080/08853908.2022.2128478","DOIUrl":"https://doi.org/10.1080/08853908.2022.2128478","url":null,"abstract":"ABSTRACT It has been recognized that cultural institute programs that first started after World War II and aim to improve language familiarity and cultural awareness are beneficial for FDI and trade. We use gravity models to examine the impact from both the German Goethe-Institut and Chinese Confucius Institute (two large-scaled cultural institute programs) on tourism arrivals, a form of international trade. We find a positive impact on tourism arrivals from the Confucius Institute program but a negative impact from the Goethe-Institut program. In addition, both the Goethe-Institut and Confucius Institute programs help to reduce the impact of linguistic distance on international tourism.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48936279","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 : 2022-10-11DOI: 10.1080/08853908.2022.2134234
Shawn T. Miller
{"title":"Political Capitalism: How Economic and Political Power is Made and Maintained","authors":"Shawn T. Miller","doi":"10.1080/08853908.2022.2134234","DOIUrl":"https://doi.org/10.1080/08853908.2022.2134234","url":null,"abstract":"","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43709266","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 : 2022-09-30DOI: 10.1080/08853908.2022.2128945
Yvonne Umulisa
ABSTRACT This study uses a panel of 31 African countries for a period of 17 years to assess whether trade integration among these countries has led to the synchronization of their business cycle. This is an important issue to consider for entry into a monetary union. Unlike most previous studies, a time-varying index is applied to measure business cycle synchronization. The heterogeneous panel estimators reveal a positive relationship between the two variables among these African countries. This empirical finding should be considered by the East African Community (EAC) authorities for further debate on the readiness of the EAC Monetary Union.
{"title":"Trade Integration and Business Cycle Synchronization among East African Community Countries","authors":"Yvonne Umulisa","doi":"10.1080/08853908.2022.2128945","DOIUrl":"https://doi.org/10.1080/08853908.2022.2128945","url":null,"abstract":"ABSTRACT This study uses a panel of 31 African countries for a period of 17 years to assess whether trade integration among these countries has led to the synchronization of their business cycle. This is an important issue to consider for entry into a monetary union. Unlike most previous studies, a time-varying index is applied to measure business cycle synchronization. The heterogeneous panel estimators reveal a positive relationship between the two variables among these African countries. This empirical finding should be considered by the East African Community (EAC) authorities for further debate on the readiness of the EAC Monetary Union.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43989344","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 : 2022-09-21DOI: 10.1080/08853908.2022.2125460
Radovan Kastratović, Predrag Bjelić
ABSTRACT In this article, we investigate if the greater development of e-commerce affects exports. Furthermore, we consider how other aspects of information and communication technology, including e-government and the prevalence of internet use in the workforce, affect exports on the sector level. The system generalized method of moments was applied to estimate a dynamic exports model using panel data on 32 European countries in the period of 2009 to 2017. Our findings indicate that only e-commerce positively affects exports, particularly in the service and manufacturing sectors. The results imply that e-commerce development could be used as an export-enhancing policy instrument.
{"title":"E-commerce and Exports in Europe: A Dynamic Panel Data Approach","authors":"Radovan Kastratović, Predrag Bjelić","doi":"10.1080/08853908.2022.2125460","DOIUrl":"https://doi.org/10.1080/08853908.2022.2125460","url":null,"abstract":"ABSTRACT In this article, we investigate if the greater development of e-commerce affects exports. Furthermore, we consider how other aspects of information and communication technology, including e-government and the prevalence of internet use in the workforce, affect exports on the sector level. The system generalized method of moments was applied to estimate a dynamic exports model using panel data on 32 European countries in the period of 2009 to 2017. Our findings indicate that only e-commerce positively affects exports, particularly in the service and manufacturing sectors. The results imply that e-commerce development could be used as an export-enhancing policy instrument.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46091366","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 : 2022-08-31DOI: 10.1080/08853908.2022.2117745
Josephine Baako-Amponsah, S. Annim, Camara Kwasi Obeng
{"title":"Relative Effect of Food and Cash Remittance on Household Food Security","authors":"Josephine Baako-Amponsah, S. Annim, Camara Kwasi Obeng","doi":"10.1080/08853908.2022.2117745","DOIUrl":"https://doi.org/10.1080/08853908.2022.2117745","url":null,"abstract":"","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45573547","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 : 2022-08-24DOI: 10.1080/08853908.2022.2111006
Andrew Muhammad, Jada M. Thompson
{"title":"Whiskey, Brexit, and the Trade War","authors":"Andrew Muhammad, Jada M. Thompson","doi":"10.1080/08853908.2022.2111006","DOIUrl":"https://doi.org/10.1080/08853908.2022.2111006","url":null,"abstract":"","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-08-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46545419","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 : 2022-08-22DOI: 10.1080/08853908.2022.2113683
G. G. Clarke
Dear Readers, Welcome to the fifth issue of The International Trade Journal (ITJ)’s thirtysixth volume. The articles in this issue focus on the environment and agriculture. The first three articles look at different aspects of the relationship between environmental regulation and international trade, while the final two studies look at trade in agricultural goods. The first article in this issue, by Rexford Abaidoo and Elvis Kwame Agyapong, looks at the relationship between trade openness and environmental sustainability in Sub-Saharan Africa. Using data from 39 African countries between 2001 and 2018, they find that CO2 emissions grew more slowly in countries that were more open to trade. When the regulatory regime and governance were effective, trade openness had an even more favorable effect on CO2 emissions. In contrast, they did not find a strong and consistent relationship between ecological footprints, governance, and trade in these countries. The second article, by Deepti Kohli, discusses how environmental regulation affects intra-industry trade in four heavily polluting industries: pulp and waste paper; lime, cement, and construction materials; iron ore and concentrates; and dyeing and tanning extracts. The author measures the stringency of environmental regulation using energy intensity and argues that when countries impose stringent environmental rules, this will increase costs and lead to lower net exports in the polluting industries. When the country imposing stricter environmental rules is a net exporter of the polluting good, more stringent environmental rules will therefore, increase intra-industry trade. In contrast, more stringent environmental rules will have the opposite effect for countries that are net importers. The empirical results are mostly consistent with the model’s predictions. The third article, by Yasuhiro Takarada, Takeshi Ogawa, and Weijia Dong, looks at how environmental regulation of international transportation affects trade and welfare. The authors present a theoretical model with two countries where international trade between the two results in pollution. They then look at how national pollution quotas in the home country and pollution permit trading affect welfare. The fourth article, by Carlos Arnade and William M. Liefert, looks at import demand for corn in the nine largest importers of corn: China, Colombia,
{"title":"From the Editor","authors":"G. G. Clarke","doi":"10.1080/08853908.2022.2113683","DOIUrl":"https://doi.org/10.1080/08853908.2022.2113683","url":null,"abstract":"Dear Readers, Welcome to the fifth issue of The International Trade Journal (ITJ)’s thirtysixth volume. The articles in this issue focus on the environment and agriculture. The first three articles look at different aspects of the relationship between environmental regulation and international trade, while the final two studies look at trade in agricultural goods. The first article in this issue, by Rexford Abaidoo and Elvis Kwame Agyapong, looks at the relationship between trade openness and environmental sustainability in Sub-Saharan Africa. Using data from 39 African countries between 2001 and 2018, they find that CO2 emissions grew more slowly in countries that were more open to trade. When the regulatory regime and governance were effective, trade openness had an even more favorable effect on CO2 emissions. In contrast, they did not find a strong and consistent relationship between ecological footprints, governance, and trade in these countries. The second article, by Deepti Kohli, discusses how environmental regulation affects intra-industry trade in four heavily polluting industries: pulp and waste paper; lime, cement, and construction materials; iron ore and concentrates; and dyeing and tanning extracts. The author measures the stringency of environmental regulation using energy intensity and argues that when countries impose stringent environmental rules, this will increase costs and lead to lower net exports in the polluting industries. When the country imposing stricter environmental rules is a net exporter of the polluting good, more stringent environmental rules will therefore, increase intra-industry trade. In contrast, more stringent environmental rules will have the opposite effect for countries that are net importers. The empirical results are mostly consistent with the model’s predictions. The third article, by Yasuhiro Takarada, Takeshi Ogawa, and Weijia Dong, looks at how environmental regulation of international transportation affects trade and welfare. The authors present a theoretical model with two countries where international trade between the two results in pollution. They then look at how national pollution quotas in the home country and pollution permit trading affect welfare. The fourth article, by Carlos Arnade and William M. Liefert, looks at import demand for corn in the nine largest importers of corn: China, Colombia,","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49231926","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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