Pub Date : 2021-12-23DOI: 10.1080/08853908.2021.2003727
R. Hosein, Leera Boodram, G. Saridakis
ABSTRACT This article examines trade complementarity as a basis for the natural trading partner hypothesis from a sectoral view of trade for the petroleum-based economy of Trinidad and Tobago (T&T) over the period of 2000 to 2015. Gravity modeling and an Intercountries Trade Force (ITF) model are adopted to determine the nature of sectoral trade complementarities in T&T over time. The results shows that trade complementarity and manufacturing trade complementarity significantly contribute to trade for T&T, which is important when choosing trade partners. This provides incentives for manufacturing which can dampen the effect of the Dutch Disease.
{"title":"Trade Complementarity as a Basis for the Natural Trading Partner Hypothesis: A Panel Data Study for Trinidad and Tobago","authors":"R. Hosein, Leera Boodram, G. Saridakis","doi":"10.1080/08853908.2021.2003727","DOIUrl":"https://doi.org/10.1080/08853908.2021.2003727","url":null,"abstract":"ABSTRACT This article examines trade complementarity as a basis for the natural trading partner hypothesis from a sectoral view of trade for the petroleum-based economy of Trinidad and Tobago (T&T) over the period of 2000 to 2015. Gravity modeling and an Intercountries Trade Force (ITF) model are adopted to determine the nature of sectoral trade complementarities in T&T over time. The results shows that trade complementarity and manufacturing trade complementarity significantly contribute to trade for T&T, which is important when choosing trade partners. This provides incentives for manufacturing which can dampen the effect of the Dutch Disease.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47790080","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 : 2021-12-06DOI: 10.1080/08853908.2021.2008282
A. Islam
ABSTRACT This article examines the impact of the yuan-dollar real exchange rate on the U.S. trade deficit with China in the long run as well as in the short run using a novel globalization-augmented empirical model. The long-run estimates are obtained using the Johansen-Juselius cointegration method along with the corresponding short-run dynamics. The longest available annual time-series data with a sample size of 45 years is utilized to conduct the empirical tests. The study finds confirmation of the long-run equilibrium and that the real yuan-dollar real exchange rate plays a strong role consistent with traditional theory. Real income and globalization played strong roles as well.
{"title":"Yuan-Dollar Real Exchange Rate and the U.S. Real Trade Balance with China: Long-Run Cointegration and Short-Run Dynamic Analysis","authors":"A. Islam","doi":"10.1080/08853908.2021.2008282","DOIUrl":"https://doi.org/10.1080/08853908.2021.2008282","url":null,"abstract":"ABSTRACT This article examines the impact of the yuan-dollar real exchange rate on the U.S. trade deficit with China in the long run as well as in the short run using a novel globalization-augmented empirical model. The long-run estimates are obtained using the Johansen-Juselius cointegration method along with the corresponding short-run dynamics. The longest available annual time-series data with a sample size of 45 years is utilized to conduct the empirical tests. The study finds confirmation of the long-run equilibrium and that the real yuan-dollar real exchange rate plays a strong role consistent with traditional theory. Real income and globalization played strong roles as well.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":"36 1","pages":"43 - 66"},"PeriodicalIF":0.0,"publicationDate":"2021-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47706245","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 : 2021-11-08DOI: 10.1080/08853908.2021.2000523
Marija Pendevska
ABSTRACT Rapid technological development pushes enterprises to constantly change the use of their information systems. Human to human, human through machine, human to machine, and eventually machine to human are current challenges that enterprises face. Personal motivation to respond to change becomes a high priority. The simplest way is to determine if information systems within the enterprise are in optimal use. This means to determine if knowledge management practices are used to bring the expected result as in the commercialization of new products/services/processes. This can be determined, among other parameters, as the frequency and level of novelty of the innovation products/services/processes within enterprises.
{"title":"Knowledge Management and Innovation in Enterprises","authors":"Marija Pendevska","doi":"10.1080/08853908.2021.2000523","DOIUrl":"https://doi.org/10.1080/08853908.2021.2000523","url":null,"abstract":"ABSTRACT Rapid technological development pushes enterprises to constantly change the use of their information systems. Human to human, human through machine, human to machine, and eventually machine to human are current challenges that enterprises face. Personal motivation to respond to change becomes a high priority. The simplest way is to determine if information systems within the enterprise are in optimal use. This means to determine if knowledge management practices are used to bring the expected result as in the commercialization of new products/services/processes. This can be determined, among other parameters, as the frequency and level of novelty of the innovation products/services/processes within enterprises.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":"36 1","pages":"67 - 74"},"PeriodicalIF":0.0,"publicationDate":"2021-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45795451","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 : 2021-11-02DOI: 10.1080/08853908.2021.1985281
G. Clarke
Dear Readers, Welcome to the final issue of The International Trade Journal (ITJ)’s thirtyfifth volume. The articles in this issue look at a variety of important issues. These include the impact of democracy, culture, and policy on the COVID-19 pandemic, the effect of preferential trade agreements on foreign direct investment, the impact of an economic partnership agreement on exports from the Caribbean to Europe, and agri-food trade between Europe and Asia. The first article in this issue, by Sheng Fang, Mike W. Peng, L. Colin Xu, and Yuanyuan Yi, looks at factors that affected the spread of COVID-19 and its mortality in 140 countries before the widespread adoption of vaccines. They find more urbanized countries and countries with worse air quality had more cases than other countries. Restrictions on international mobility, but not restrictions on domestic mobility, were associated with lower mortality rates. Democratic countries performed better than non-democratic countries in some ways: they appear to have imposed mobility restrictions more quickly than non-democratic countries and had lower mortality rates. They also appear to be more effective in reducing harm to vulnerable populations. Finally, highly individualistic countries appear to have had more cases than other countries in some model specifications. The second article, by Hira Zahid, Malik Fahim Bashir, and Muhammad Tahir, looks at how preferential trade agreements (PTAs) affect foreign direct investment. They calculate the combined market size of each country’s PTA partners and the average distance to these partners. They then show that countries whose PTA partners have larger markets attract more foreign direct investment. In contrast, they do not find a relationship between foreign direct investment and the average distance to the country’s PTA partners. Further, they find market size is only related to foreign direct investment in high and middle-income countries. The relationship is statistically insignificant for lowincome countries. The third article, by Roger Hosein, Rebecca Gookool, and George Saridakis, studies how the Economic Partnership Agreement between the Caribbean Forum and the European Union (EU) affected Caribbean exports into the EU. They find that merchandise exports fell after 2008, when the agreement
{"title":"From the Editor","authors":"G. Clarke","doi":"10.1080/08853908.2021.1985281","DOIUrl":"https://doi.org/10.1080/08853908.2021.1985281","url":null,"abstract":"Dear Readers, Welcome to the final issue of The International Trade Journal (ITJ)’s thirtyfifth volume. The articles in this issue look at a variety of important issues. These include the impact of democracy, culture, and policy on the COVID-19 pandemic, the effect of preferential trade agreements on foreign direct investment, the impact of an economic partnership agreement on exports from the Caribbean to Europe, and agri-food trade between Europe and Asia. The first article in this issue, by Sheng Fang, Mike W. Peng, L. Colin Xu, and Yuanyuan Yi, looks at factors that affected the spread of COVID-19 and its mortality in 140 countries before the widespread adoption of vaccines. They find more urbanized countries and countries with worse air quality had more cases than other countries. Restrictions on international mobility, but not restrictions on domestic mobility, were associated with lower mortality rates. Democratic countries performed better than non-democratic countries in some ways: they appear to have imposed mobility restrictions more quickly than non-democratic countries and had lower mortality rates. They also appear to be more effective in reducing harm to vulnerable populations. Finally, highly individualistic countries appear to have had more cases than other countries in some model specifications. The second article, by Hira Zahid, Malik Fahim Bashir, and Muhammad Tahir, looks at how preferential trade agreements (PTAs) affect foreign direct investment. They calculate the combined market size of each country’s PTA partners and the average distance to these partners. They then show that countries whose PTA partners have larger markets attract more foreign direct investment. In contrast, they do not find a relationship between foreign direct investment and the average distance to the country’s PTA partners. Further, they find market size is only related to foreign direct investment in high and middle-income countries. The relationship is statistically insignificant for lowincome countries. The third article, by Roger Hosein, Rebecca Gookool, and George Saridakis, studies how the Economic Partnership Agreement between the Caribbean Forum and the European Union (EU) affected Caribbean exports into the EU. They find that merchandise exports fell after 2008, when the agreement","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":"35 1","pages":"491 - 492"},"PeriodicalIF":0.0,"publicationDate":"2021-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44686577","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 : 2021-10-25DOI: 10.1080/08853908.2021.1989349
S. Gnangnon
ABSTRACT The current analysis contributes to the literature on the real exchange rate effect of development aid by separating the real exchange rate effect of the development aid allocated to the trade sector (Aid for Trade – AfT) from the effect of other aid flows. The empirical findings show that higher AfT flows lead to a depreciation of the real exchange rate in recipient economies, while other development aid flows generate an appreciation of the real exchange rate. The real exchange rate effect of total AfT flows works through trade openness, export product diversification, and inward foreign direct investment stock.
当前的分析通过将分配给贸易部门的发展援助(trade - aid - AfT)的实际汇率效应与其他援助流动的效应分离开来，有助于研究发展援助的实际汇率效应。实证研究结果表明，较高的发展援助流量导致受援国实际汇率贬值，而其他发展援助流量则导致实际汇率升值。总fdi流动的实际汇率效应通过贸易开放、出口产品多样化和外来直接投资存量发挥作用。
{"title":"Aid for Trade and the Real Exchange Rate","authors":"S. Gnangnon","doi":"10.1080/08853908.2021.1989349","DOIUrl":"https://doi.org/10.1080/08853908.2021.1989349","url":null,"abstract":"ABSTRACT The current analysis contributes to the literature on the real exchange rate effect of development aid by separating the real exchange rate effect of the development aid allocated to the trade sector (Aid for Trade – AfT) from the effect of other aid flows. The empirical findings show that higher AfT flows lead to a depreciation of the real exchange rate in recipient economies, while other development aid flows generate an appreciation of the real exchange rate. The real exchange rate effect of total AfT flows works through trade openness, export product diversification, and inward foreign direct investment stock.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":"36 1","pages":"264 - 287"},"PeriodicalIF":0.0,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46156444","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 : 2021-10-25DOI: 10.1080/08853908.2021.1990165
D. Lien, Peilan Tang, Erika Zuloaga
ABSTRACT This article examines the effects of Hallyu and the King Sejong Institute (KSI). Upon estimating the gravity model, we find Hallyu has significantly positive impacts on foreign students, tourists, and Korean exports. Moreover, the effects of Hallyu are stronger for female students (tourists) than for male students (tourists). Korean imports from other countries respond positively to Hallyu, but less than Korean exports do. The KSI reduces foreign (particularly male) student flows. Also, KSI promotes more male tourists than female tourists. Finally, by reducing the transaction cost, KSI increases Korean exports and imports altogether.
{"title":"Effects of Hallyu and the King Sejong Institute on International Trade and Services in Korea","authors":"D. Lien, Peilan Tang, Erika Zuloaga","doi":"10.1080/08853908.2021.1990165","DOIUrl":"https://doi.org/10.1080/08853908.2021.1990165","url":null,"abstract":"ABSTRACT This article examines the effects of Hallyu and the King Sejong Institute (KSI). Upon estimating the gravity model, we find Hallyu has significantly positive impacts on foreign students, tourists, and Korean exports. Moreover, the effects of Hallyu are stronger for female students (tourists) than for male students (tourists). Korean imports from other countries respond positively to Hallyu, but less than Korean exports do. The KSI reduces foreign (particularly male) student flows. Also, KSI promotes more male tourists than female tourists. Finally, by reducing the transaction cost, KSI increases Korean exports and imports altogether.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":"36 1","pages":"6 - 23"},"PeriodicalIF":0.0,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49515314","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 : 2021-10-20DOI: 10.1080/08853908.2021.1992320
L. Lourenço, Douglas Silveira, G. Oliveira, C. Vasconcelos
ABSTRACT This article provides evidence regarding the adverse effects of antidumping measures on competitive market strategies. Our empirical model consists of estimating the Lerner index as a mark-up measure. To reach our goal, we use the Orbis database, with firm-level data between 2006 and 2014. On average, our results suggest a positive relationship between antidumping barriers and the increase in firms’ market power. Its magnitude is larger for Latin America when compared to other emerging economies. Moreover, the effects on market power persist in the long run. Depending on the set of evaluated countries, it becomes null in the short run.
{"title":"Do Antidumping Measures Increase Market Power? Evidence From Latin American Countries","authors":"L. Lourenço, Douglas Silveira, G. Oliveira, C. Vasconcelos","doi":"10.1080/08853908.2021.1992320","DOIUrl":"https://doi.org/10.1080/08853908.2021.1992320","url":null,"abstract":"ABSTRACT This article provides evidence regarding the adverse effects of antidumping measures on competitive market strategies. Our empirical model consists of estimating the Lerner index as a mark-up measure. To reach our goal, we use the Orbis database, with firm-level data between 2006 and 2014. On average, our results suggest a positive relationship between antidumping barriers and the increase in firms’ market power. Its magnitude is larger for Latin America when compared to other emerging economies. Moreover, the effects on market power persist in the long run. Depending on the set of evaluated countries, it becomes null in the short run.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":"37 1","pages":"454 - 480"},"PeriodicalIF":0.0,"publicationDate":"2021-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45940328","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 : 2021-10-01DOI: 10.1080/08853908.2021.1976692
H. Karamelikli, S. Ongan
ABSTRACT This study examines the asymmetric and symmetric impacts of appreciation and depreciation in the Korean won on Korea’s commodity trade balance with Japan. To this aim, the linear and nonlinear autoregressive distributed lag (NARDL) models are applied. However, this study methodologically differs from previous empirical studies in the related literature applying the NARDL model. These previous studies are constructed based on only short-run and long-run symmetry (denoted by SS) and short-run and long-run asymmetry (denoted by AA). This study, however, also considers two other alternative cases as short-run asymmetry-long-run symmetry (denoted by AS) and short-run symmetry-long-run asymmetry (denoted by SA).
{"title":"Asymmetric Impacts of the South Korean Currency on Korea’s Commodity Trade Balance with Japan","authors":"H. Karamelikli, S. Ongan","doi":"10.1080/08853908.2021.1976692","DOIUrl":"https://doi.org/10.1080/08853908.2021.1976692","url":null,"abstract":"ABSTRACT This study examines the asymmetric and symmetric impacts of appreciation and depreciation in the Korean won on Korea’s commodity trade balance with Japan. To this aim, the linear and nonlinear autoregressive distributed lag (NARDL) models are applied. However, this study methodologically differs from previous empirical studies in the related literature applying the NARDL model. These previous studies are constructed based on only short-run and long-run symmetry (denoted by SS) and short-run and long-run asymmetry (denoted by AA). This study, however, also considers two other alternative cases as short-run asymmetry-long-run symmetry (denoted by AS) and short-run symmetry-long-run asymmetry (denoted by SA).","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":"36 1","pages":"306 - 323"},"PeriodicalIF":0.0,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47105153","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 : 2021-09-28DOI: 10.1080/08853908.2021.1981496
Yasuhiro Takarada, T. Ogawa, Weijia Dong
ABSTRACT This article examines the environmental regulations of international transport in a two-country model with the international transport sector in each country. International transport generates pollution which is treated as a pure public bad. First, we show that a country may benefit from voluntarily imposing a strict environmental regulation despite this regulation having the effect of shrinking the international transport sector. Second, we find that permit trading between the international transport sectors of two countries benefits an international-transport-importing country, while permit trading may harm an international-transport-exporting country even if it receives all of the direct gains from permit trading.
{"title":"Trade, Transportation, and the Environment: Welfare Effects of Emissions Reduction and International Emissions Trading","authors":"Yasuhiro Takarada, T. Ogawa, Weijia Dong","doi":"10.1080/08853908.2021.1981496","DOIUrl":"https://doi.org/10.1080/08853908.2021.1981496","url":null,"abstract":"ABSTRACT This article examines the environmental regulations of international transport in a two-country model with the international transport sector in each country. International transport generates pollution which is treated as a pure public bad. First, we show that a country may benefit from voluntarily imposing a strict environmental regulation despite this regulation having the effect of shrinking the international transport sector. Second, we find that permit trading between the international transport sectors of two countries benefits an international-transport-importing country, while permit trading may harm an international-transport-exporting country even if it receives all of the direct gains from permit trading.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":"36 1","pages":"400 - 420"},"PeriodicalIF":0.0,"publicationDate":"2021-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43896368","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 : 2021-09-27DOI: 10.1080/08853908.2021.1977201
Sheng Fang, Mike W. Peng, L. C. Xu, Yuanyuan Yi
ABSTRACT Are COVID-19 spread and mortality related to different countries’ government mobility restriction policies, democratic institutions, and cultural norms? Leveraging data from 140 countries, we find that policy, institutions, and vulnerabilities interact to determine pandemic spread and mortality. A delay in restricting international mobility increases pandemic mortality. Combining vulnerabilities with a delay in domestic mobility restrictions increases mortality. Democratic countries have faster policy responses and lower pandemic mortality, but they also face more adverse effects from a delay in restricting domestic mobility. More individualistic countries have a higher pandemic spread, and their delay in domestic mobility restrictions is associated with higher pandemic mortality.
{"title":"The Interplay of Policy and Institutions during COVID-19","authors":"Sheng Fang, Mike W. Peng, L. C. Xu, Yuanyuan Yi","doi":"10.1080/08853908.2021.1977201","DOIUrl":"https://doi.org/10.1080/08853908.2021.1977201","url":null,"abstract":"ABSTRACT Are COVID-19 spread and mortality related to different countries’ government mobility restriction policies, democratic institutions, and cultural norms? Leveraging data from 140 countries, we find that policy, institutions, and vulnerabilities interact to determine pandemic spread and mortality. A delay in restricting international mobility increases pandemic mortality. Combining vulnerabilities with a delay in domestic mobility restrictions increases mortality. Democratic countries have faster policy responses and lower pandemic mortality, but they also face more adverse effects from a delay in restricting domestic mobility. More individualistic countries have a higher pandemic spread, and their delay in domestic mobility restrictions is associated with higher pandemic mortality.","PeriodicalId":35638,"journal":{"name":"International Trade Journal","volume":"35 1","pages":"493 - 522"},"PeriodicalIF":0.0,"publicationDate":"2021-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43354283","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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