Journal of International Trade & Economic Development最新文献

{"title":"The China trade shock and the European Union's employment","authors":"Mi Dai, Qingyuan Du, Yalin Liu, Jianwei Xu","doi":"10.1080/09638199.2023.2260010","DOIUrl":"https://doi.org/10.1080/09638199.2023.2260010","url":null,"abstract":"ABSTRACTThis paper analyzes the effect of trade with China on the European Union's industrial and regional employment. Built on a canonical multi-country Ricardian model, we identify and estimate the employment reallocation effect across fifteen EU countries with specific discussions on three channels: import penetration, direct export, and third-market competition vis-à-vis China. Data suggest that the adverse effects stemming from the import penetration and the third-market competition quantitatively dominate the positive effect from the export channel for the effect on the EU. In particular, the third-market competition channel is a key channel for understanding the impact of China trade shock on the EU market, accounting for about 46% and 36% of the total negative effect at the industry level and region level, respectively. Moreover, the third-market competition channel particularly influenced the relative employment growth of the worst-affected industries in the European market.KEYWORDS: China shockemploymentthird-market competitionJEL CLASSIFICATIONS: E24F14F16J23L60O47R12R23 AcknowledgmentsWe thank Silvio Contessi, Alberto Pozzolo, Chuliang Luo for their help during the study of the research.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 This index is the simple average of the intra-EU trade from 2002 to 2007 from the Eurostat database (https://ec.europa.eu/eurostat/data/database).2 We do not use the initial employment share in 1996 to compute the three measures in the baseline estimations in order to include more countries in the sample. In one robustness check, we adopt the employment share in 1996 to compute the regional average import penetration, direct export and third-market competition measures, the sample reduces to five countries, however, our baseline estimation result still holds.3 Data source: http://stats.oecd.org/Index.aspx?DataSetCode=STAN08BIS#.4 Data source: http://ec.europa.eu/eurostat/data/database.Additional informationFundingThe authors are funded by National Natural Science Foundation of China [grant numbers 7167302, 71973013, 72303260, 72373012]. The views expressed in this paper are those of the authors and do not necessarily reflect the view of their organizations.","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135205937","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impact of ICT development on bilateral intermediate input trade: Considering cross-country heterogeneity","authors":"Nguyen Thi Thu Huong, Danbee Park","doi":"10.1080/09638199.2023.2255700","DOIUrl":"https://doi.org/10.1080/09638199.2023.2255700","url":null,"abstract":"ABSTRACTThis study investigates the impact of information and communication technology (ICT) on bilateral trade flows, focusing on intermediate inputs across 161 countries from 1990 to 2016. We utilize the Eora global supply chain input-output tables to distinguish trade in intermediate inputs from gross trade. By adopting the Poisson pseudo-maximum likelihood (PPML) estimator, we find that ICT promotes bilateral and intermediate input trade by lowering trade costs. Notably, the similarity in ICT development between home and host countries is positively associated with bilateral intermediate input trade. Furthermore, the positive effects of ICT on bilateral intermediate input trade are stronger in labor-abundant countries than in capital-abundant countries. We also find that the positive relationship becomes more significant in low-income countries than in high-income ones. Labor-abundant and low-income countries are expected to experience an increase in intermediate input trade through ICT development.KEYWORDS: ICT developmentintermediate inputsbilateral tradeJEL CLASSIFICATIONS: F10F14O10 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 This source provides information on intermediate input usage by origin, destination, and sector.2 The PPML estimator is an effective solution to handle the zero trade and heteroscedasticity problems in trade data (Silva and Tenreyro Citation2011).3 Our results are consistent by using OLS regressions. The regression results are available upon request.","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135206380","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Capital account liberalization and economic performance: Evidence from Korea","authors":"Junyong Lee, Frederick Dongchuhl Oh","doi":"10.1080/09638199.2023.2248284","DOIUrl":"https://doi.org/10.1080/09638199.2023.2248284","url":null,"abstract":"AbstractThis study examines whether capital account liberalization is beneficial for inducing foreign investment and positively affects allocative efficiency and economic performance in Korea. Using panel data on Korean industries and firms from 1991 to 2019, we confirm that capital account liberalization is positively associated with foreign investment. This effect is more pronounced for industries with high external financing dependence. Additionally, we conduct a firm-level analysis and find that capital account liberalization improves capital allocative efficiency, indicating that it helps firms with high growth opportunities to make more investment. Furthermore, changes in allocative efficiency attributable to capital account liberalization positively affect firms’ future financial performance. Overall, our study highlights the importance of capital account liberalization in attracting foreign capital, improving allocative efficiency, and enhancing the economic performance of firms in a transition economy.KEYWORDS: Capital account liberalizationforeign investmentallocative efficiencyeconomic performanceKoreaJEL Classifications: F32F38G15O16 AcknowledgementsWe wish to thank the editor (Lex Zhao) and a reviewer for their guidance and constructive comments. Any remaining errors are ours.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 The “flight to quality” refers to the investors’ herding behavior to shift out of risky securities in bear markets (that suffer from financial recessions) and preference for relatively more safe assets such as bonds. It is the synonym of the “flight to safety.”2 The Chinn and Ito (Citation2006) capital account openness index is available on the research page for Menzie Chinn and Hiro Ito: http://web.pdx.edu/~ito/Chinn-Ito_website.htm.3 We use all firms in both KSE and KOSDAQ, including currently delisted firms.4 We use the KSIC code to identify financial firms and remove them from our sample. The KSIC is the abbreviation of “Korean Standard Industry Classification” and is based on the International Standard Industrial Classification (ISIC) adopted by the United Nations. According to the classification, the KSIC code K indicates financial firms.5 Table A1 shows the standard classification of the Korean industries. Among 33 industries, after excluding “Finance and insurance (i.e., KSIC code K),” we use the remaining 32 industries for our firm-level analyses.6 For more information, see Chinn and Ito (2008).7 The detailed definition of FDI in Korea is explained in the Korea Legislation Research Institute (KLRI). See https://elaw.klri.re.kr/eng_service/lawView.do?hseq=44628&lang=ENG.8 We use the annual sales as the output level of firms. Capital stock is proxied by the value of tangible fixed assets deflated using the GDP deflator, and labor input is measured by the number of employees.9 There are several methodologies to estimate production functions using firm-level panel dat","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135671606","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Uniform versus discriminatory tariffs in increasing marginal costs and endogenous competition","authors":"Kangsik Choi","doi":"10.1080/09638199.2023.2226260","DOIUrl":"https://doi.org/10.1080/09638199.2023.2226260","url":null,"abstract":"By allowing exporters to produce under asymmetric increasing marginal costs, we investigate the impact of tariff discrimination when considering exporters' endogenous choice of competition mode. When considering endogenous competition mode, discriminatory tariffs lead to Cournot competition, whereas uniform tariffs lead to diverse modes of competition. The discriminatory (uniform) tariffs can obtain Pareto superiority from the perspective of consumers surplus, social and global welfare if product differentiation is either high or low (intermediate). Contrast to previous results, since the importing country tends to impose a lower (higher) tariff on the efficient (inefficient) exporter, the inefficient exporter always prefers the uniform tariffs while the efficient exporter's preference for tariff regime varies for any degree of product differentiation. Thus, with increasing marginal costs for any degree of product differentiation, there is a possibility that the preferences for tariff regimes change in the same direction for the exporters' profits, consumers surplus, social and global welfare.","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134933051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Tariff pass-through and implications for domestic markets: Evidence from U.S. steel imports","authors":"Mumtaz Ahmad, Imtiaz Ahmad","doi":"10.1080/09638199.2023.2187654","DOIUrl":"https://doi.org/10.1080/09638199.2023.2187654","url":null,"abstract":"Recent studies report that during the U.S. trade war, the overall burden of tariffs has entirely passed on to U.S. firms and consumers in terms of higher import prices, but the pass-through is incomplete in the case of steel products. Using 10-digit import data from U.S. Customs for 2018–2019, contrary to the recent literature, we find that import tariff pass-through is complete for steel products. We also find significant and large supply chain adjustments following the imposition of tariffs. However, despite the supply chain adjustments, the overall imports of steel products, which moved in tandem with domestic steel consumption over the last ten years, exhibited a declining trend. The overall steel imports declined from 34.5 in 2017 to 26.3 million metric tons in 2019. During the same period, domestic production increased from 81.6 to 87.9 million metric tons, almost equal to the peak production the U.S. achieved in 2012 and 2014.","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135648825","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"An Empirical Study on the Effect of Oversea Investment Insurance of Korea","authors":"J. Sim, Lee Jaehwa","doi":"10.22875/JITI.2020.21.4.001","DOIUrl":"https://doi.org/10.22875/JITI.2020.21.4.001","url":null,"abstract":"Purpose : The purpose of this study is to empirically examine the effect of Oversea Investment Insurance on Korean foreign direct investment in the 2000s. Research design, data, methodology : For this purpose, the study establishes an econometric model in the framework of theoretical equation for determinants of direct investment. Next, panel data estimations with pooled, fixed effects and random effects models have been conducted by using a panel data set for Korean Foreign Direct Investment to 17 partner countries from 1995 to 2018. Results : The estimation results demonstrate the evidence for the influence of GDP, per capita GDP, trade, and patent in its partner countries on flows of Korea’s foreign direct investment including green field and MA in particular for the green field investment of Korea. These results imply that the effect of the insurance is notable but it differs across the types of investment such as green filed and M&A. Conclusions : The results in the analysis suggest that the policy authority consider the possibility of the difference in the effect across the types of foreign direct investment, and implement more sophisticated management strategies according to the different types for oversea investment insurance in Korea.","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82876159","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Innovation of China's Supply Chain Financing Process: Case of JingDong's New Financing Process","authors":"Na Eun-young, Deng Jun","doi":"10.22875/JITI.2020.21.4.006","DOIUrl":"https://doi.org/10.22875/JITI.2020.21.4.006","url":null,"abstract":"","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75061631","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Trade Competence Reinforcement Strategy with Trade Network Analysis: Focused on ASEAN and KOREA","authors":"李春洙","doi":"10.22875/JITI.2020.21.3.002","DOIUrl":"https://doi.org/10.22875/JITI.2020.21.3.002","url":null,"abstract":"","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77970207","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Study on the Effects of Capital Inflow on Economic Growth- Focusing on Latin America -","authors":"Woosung Cho, Seung-Gyun Yoo","doi":"10.22875/JITI.2020.21.4.008","DOIUrl":"https://doi.org/10.22875/JITI.2020.21.4.008","url":null,"abstract":"","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73793579","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Empirical Analysis of the Determinants of Leaks of Korean Import and Export Companies on Risk Management","authors":"Lee, Je-Hong","doi":"10.22875/JITI.2020.21.4.005","DOIUrl":"https://doi.org/10.22875/JITI.2020.21.4.005","url":null,"abstract":"","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83093336","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}