This paper was one of the first to explore the impact of trade policy uncertainty (TPU) reduction on Chinese firm capacity utilisation rate from the perspective of trade policy variation. Based on a quasi‐natural experiment of the implementation of Permanent Normal Trade Relation (PNTR) after China's WTO accession, this paper adopts the difference‐in‐difference (DID) method to conduct empirical analysis, and finds that reduction in TPU significantly raises firm capacity utilisation rate. The mechanism tests show that export expansion is an important channel through which reduction in TPU raises firm capacity utilisation rate, especially for firms exporting to the United States; reduction in TPU also raises firm capacity utilisation rate through the improvement of production efficiency; in addition, reduction in TPU raises firm capacity utilisation rate along the downstream linkages, whereas the effect of the upstream linkages is insignificant. Finally, this paper takes a step further to conduct empirical analysis at industry level, the results show that reduction in TPU also significantly raises manufacturing aggregate capacity utilisation rate, and the improvement of resource reallocation efficiency (especially the exit of the firms with backward production capacity) plays an important role. Our study was helpful to understand the driving forces of the changes in Chinese manufacturing capacity utilisation rate in recent years, and it also provides new ideas for solving over‐capacity.
{"title":"Trade policy uncertainty and capacity utilisation rate: Firm‐level evidence from China's WTO accession","authors":"Qilin Mao, Jiayun Xu, Yiming Zhong","doi":"10.1111/twec.13611","DOIUrl":"https://doi.org/10.1111/twec.13611","url":null,"abstract":"This paper was one of the first to explore the impact of trade policy uncertainty (TPU) reduction on Chinese firm capacity utilisation rate from the perspective of trade policy variation. Based on a quasi‐natural experiment of the implementation of Permanent Normal Trade Relation (PNTR) after China's WTO accession, this paper adopts the difference‐in‐difference (DID) method to conduct empirical analysis, and finds that reduction in TPU significantly raises firm capacity utilisation rate. The mechanism tests show that export expansion is an important channel through which reduction in TPU raises firm capacity utilisation rate, especially for firms exporting to the United States; reduction in TPU also raises firm capacity utilisation rate through the improvement of production efficiency; in addition, reduction in TPU raises firm capacity utilisation rate along the downstream linkages, whereas the effect of the upstream linkages is insignificant. Finally, this paper takes a step further to conduct empirical analysis at industry level, the results show that reduction in TPU also significantly raises manufacturing aggregate capacity utilisation rate, and the improvement of resource reallocation efficiency (especially the exit of the firms with backward production capacity) plays an important role. Our study was helpful to understand the driving forces of the changes in Chinese manufacturing capacity utilisation rate in recent years, and it also provides new ideas for solving over‐capacity.","PeriodicalId":75211,"journal":{"name":"The World economy","volume":"92 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141818815","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}
While the importance of international remittances has been recognised globally, understanding how public subsidies and the degree of individual altruism affect remittance behaviour remains limited. Although international remittances were predicted to decline drastically in the early stages of the COVID‐19 pandemic, remittance data proved that they were ultimately resilient to the anticipated negative shock of 2020. Potential reasons include altruistic motivations among migrants and economic stimulus programmes in large economies; however, a detailed investigation from a micro‐perspective is lacking and urgently needed. This study examines the impact of financial support in host and home countries and individual altruism on international remittances using unique data from foreign care workers in Japan. Our panel data estimation shows that emergency cash transfers from the host country positively affected migrant remittance amounts; however, no crowding‐out effects were observed due to subsidies from home governments. The heterogeneous analysis also reveals that highly altruistic remitters were more likely to send money home after receiving cash transfers in the host country. The results support the claims of international organisations that the resilience of remittances was supported by altruism and public financial support during the pandemic.
{"title":"How altruism works during a pandemic: Examining the roles of financial support and degrees of individual altruism on international remittance","authors":"Nobuyuki Nakamura, Aya Suzuki","doi":"10.1111/twec.13616","DOIUrl":"https://doi.org/10.1111/twec.13616","url":null,"abstract":"While the importance of international remittances has been recognised globally, understanding how public subsidies and the degree of individual altruism affect remittance behaviour remains limited. Although international remittances were predicted to decline drastically in the early stages of the COVID‐19 pandemic, remittance data proved that they were ultimately resilient to the anticipated negative shock of 2020. Potential reasons include altruistic motivations among migrants and economic stimulus programmes in large economies; however, a detailed investigation from a micro‐perspective is lacking and urgently needed. This study examines the impact of financial support in host and home countries and individual altruism on international remittances using unique data from foreign care workers in Japan. Our panel data estimation shows that emergency cash transfers from the host country positively affected migrant remittance amounts; however, no crowding‐out effects were observed due to subsidies from home governments. The heterogeneous analysis also reveals that highly altruistic remitters were more likely to send money home after receiving cash transfers in the host country. The results support the claims of international organisations that the resilience of remittances was supported by altruism and public financial support during the pandemic.","PeriodicalId":75211,"journal":{"name":"The World economy","volume":"41 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141738352","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}
Rules of international air transportation services that apply to signatories' airlines are defined by air services agreements (ASAs). We assess the impact of bilateral ASAs on air transportation using an unique data set providing direct observations of bilateral air transport cost and time for a standardised good, for 1190 country‐pairs, between 2011 and 2015. Our results show that ASAs reduce transportation cost by 8% while they only impact transportation time for landlocked countries and Regional Trade Agreements (RTA) members. Our estimates also reveal that bilateral trade decreases cost of transport, which highlights the role of backhauling in air transportation.
{"title":"Cheaper and faster: The role of air services agreements on transportation","authors":"Charlotte Emlinger, Amelie Guillin","doi":"10.1111/twec.13612","DOIUrl":"https://doi.org/10.1111/twec.13612","url":null,"abstract":"Rules of international air transportation services that apply to signatories' airlines are defined by air services agreements (ASAs). We assess the impact of bilateral ASAs on air transportation using an unique data set providing direct observations of bilateral air transport cost and time for a standardised good, for 1190 country‐pairs, between 2011 and 2015. Our results show that ASAs reduce transportation cost by 8% while they only impact transportation time for landlocked countries and Regional Trade Agreements (RTA) members. Our estimates also reveal that bilateral trade decreases cost of transport, which highlights the role of backhauling in air transportation.","PeriodicalId":75211,"journal":{"name":"The World economy","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141738351","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}
This paper contributes to the debate on whether membership of the General Agreement on Tariffs and Trade/World Trade Organisation (GATT/WTO) promotes greater levels of international trade. A size‐adjusted measure of trade flows vis‐á‐vis absolute trade flows (the traditional dependent variable) is used. The size‐adjusted trade flows dependent variable reduces the importance of bilateral trade with larger countries yielding a greater balance between large and small trade partners and provides an opportunity to test the importance of membership of the GATT/WTO relative to the numerous regional trade agreements (RTAs) which have grown exponentially over the years. In keeping with the recent literature, a structural gravity model of trade framework is used with a Poisson pseudo‐maximum‐likelihood estimator and high dimensional fixed effects. Furthermore, the data set consists of both international and intra‐national (domestic) trade flows. In the case of both approaches (size‐adjusted and absolute trade flows) the results are statistically significant and positive as regards the impact of GATT/WTO membership and RTAs on trade flows. Furthermore, the estimates resulting from size‐adjusted trade flows maintain the greater importance of GATT/WTO membership relative to RTAs.
{"title":"Absolute and size‐adjusted trade flows: An analysis of RTAs and GATT/WTO membership","authors":"Samuel Braithwaite","doi":"10.1111/twec.13610","DOIUrl":"https://doi.org/10.1111/twec.13610","url":null,"abstract":"This paper contributes to the debate on whether membership of the General Agreement on Tariffs and Trade/World Trade Organisation (GATT/WTO) promotes greater levels of international trade. A size‐adjusted measure of trade flows vis‐á‐vis absolute trade flows (the traditional dependent variable) is used. The size‐adjusted trade flows dependent variable reduces the importance of bilateral trade with larger countries yielding a greater balance between large and small trade partners and provides an opportunity to test the importance of membership of the GATT/WTO relative to the numerous regional trade agreements (RTAs) which have grown exponentially over the years. In keeping with the recent literature, a structural gravity model of trade framework is used with a Poisson pseudo‐maximum‐likelihood estimator and high dimensional fixed effects. Furthermore, the data set consists of both international and intra‐national (domestic) trade flows. In the case of both approaches (size‐adjusted and absolute trade flows) the results are statistically significant and positive as regards the impact of GATT/WTO membership and RTAs on trade flows. Furthermore, the estimates resulting from size‐adjusted trade flows maintain the greater importance of GATT/WTO membership relative to RTAs.","PeriodicalId":75211,"journal":{"name":"The World economy","volume":"27 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141614219","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}
With highly disaggregated data during 2000–2006 in China, we construct the firm‐level international vertical specialisation index and find that China's ascension to WTO decreased the index in manufacturing firms. We investigate its relationship with measured skill premium in manufacturing firms and find that a one percentage point decrease in international vertical specialisation could lead to as much as a two‐tenth percentage point deduction in the skill premium. The effect is more pronounced when the specialisation is with OECD developed economies, while it is reversed with non‐OECD economies. Furthermore, the relationship is only significant in ordinary firms though processing firms also experienced changes in international vertical specialisation during the same period. Our results are robust to various empirical alternatives. We then propose a model that features a two‐stage production in Melitz's (2003, Econometrica, 71, 1695) heterogeneous firm model. The model can explain the puzzle why China's trade volume surged after entering WTO, while the degree of international vertical specialisation decreased. Furthermore, it also explains why vertical specialisation might affect within‐firm skill premium under trade liberalisation.
{"title":"Why does international vertical specialisation affect within‐firm skill premium in China? Investigation and interpretation","authors":"Bo Chen","doi":"10.1111/twec.13578","DOIUrl":"https://doi.org/10.1111/twec.13578","url":null,"abstract":"With highly disaggregated data during 2000–2006 in China, we construct the firm‐level international vertical specialisation index and find that China's ascension to WTO decreased the index in manufacturing firms. We investigate its relationship with measured skill premium in manufacturing firms and find that a one percentage point decrease in international vertical specialisation could lead to as much as a two‐tenth percentage point deduction in the skill premium. The effect is more pronounced when the specialisation is with OECD developed economies, while it is reversed with non‐OECD economies. Furthermore, the relationship is only significant in ordinary firms though processing firms also experienced changes in international vertical specialisation during the same period. Our results are robust to various empirical alternatives. We then propose a model that features a two‐stage production in Melitz's (2003, Econometrica, 71, 1695) heterogeneous firm model. The model can explain the puzzle why China's trade volume surged after entering WTO, while the degree of international vertical specialisation decreased. Furthermore, it also explains why vertical specialisation might affect within‐firm skill premium under trade liberalisation.","PeriodicalId":75211,"journal":{"name":"The World economy","volume":"17 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141659157","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}
This paper examines the WTO's 2023 Trade Policy Review (TPR) of Turkey, covering 2016–2022. As Turkey marked its centenary in 2023, the TPR allows for critical reflections on Turkey's global and European economic integration and its evolving economic policies. The review period witnessed key developments: heightened tensions with the European Union (EU), the country's transition into a presidential system, and the impacts of COVID‐19 and the Ukraine war. Turkey continued its state‐led development and proactive industrial policy post‐Global Financial Crisis, aiming to reduce the current account deficit, diversify exports, advance technological sophistication and enhance its position in global value chains (GVCs). Recently Turkey has further aligned its import–export regimes and trade negotiations with these strategic goals, increasing its Most Favoured Nation tariffs and adopting localisation strategies to support key sectors. Turkey navigated the pandemic effectively, bolstering its role in global supply chains, as indicated by its increased trade‐to‐GDP ratio. This underscores its economic resilience and strategic location. However, Turkey's trade policies are increasingly diverging from those of the EU, its main trade and supply chain partner and Customs Union ally. Turkey's new Regional Trade Agreements aim for deeper sectoral integration with partners other than the EU.
{"title":"Trade Policy Review of Turkey","authors":"Serdar Altay","doi":"10.1111/twec.13609","DOIUrl":"https://doi.org/10.1111/twec.13609","url":null,"abstract":"This paper examines the WTO's 2023 Trade Policy Review (TPR) of Turkey, covering 2016–2022. As Turkey marked its centenary in 2023, the TPR allows for critical reflections on Turkey's global and European economic integration and its evolving economic policies. The review period witnessed key developments: heightened tensions with the European Union (EU), the country's transition into a presidential system, and the impacts of COVID‐19 and the Ukraine war. Turkey continued its state‐led development and proactive industrial policy post‐Global Financial Crisis, aiming to reduce the current account deficit, diversify exports, advance technological sophistication and enhance its position in global value chains (GVCs). Recently Turkey has further aligned its import–export regimes and trade negotiations with these strategic goals, increasing its Most Favoured Nation tariffs and adopting localisation strategies to support key sectors. Turkey navigated the pandemic effectively, bolstering its role in global supply chains, as indicated by its increased trade‐to‐GDP ratio. This underscores its economic resilience and strategic location. However, Turkey's trade policies are increasingly diverging from those of the EU, its main trade and supply chain partner and Customs Union ally. Turkey's new Regional Trade Agreements aim for deeper sectoral integration with partners other than the EU.","PeriodicalId":75211,"journal":{"name":"The World economy","volume":"34 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141568167","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}
Simon Evenett, Adam Jakubik, Fernando Martín, Michele Ruta
This paper introduces the New Industrial Policy Observatory (NIPO) data set and documents emergent patterns of policy intervention during 2023 associated with the return of industrial policy. The data show that the recent wave of new industrial policy activity is primarily driven by advanced economies and that subsidies are the most employed instrument. Trade restrictions on imports and exports are more frequently used by emerging market and developing economies. Strategic competitiveness is the dominant motive governments give for these measures, but other objectives such as climate change, resilience and national security are on the rise. In exploratory regressions, we find that implemented measures are correlated with the past use of measures by other governments in the same sector, pointing to the tit‐for‐tat nature of industrial policy. Furthermore, domestic political economy factors and macroeconomic conditions correlate with the use of industrial policy measures. We intend for the NIPO to be a publicly available resource to help monitor the evolution and effects of industrial policies.
{"title":"The return of industrial policy in data","authors":"Simon Evenett, Adam Jakubik, Fernando Martín, Michele Ruta","doi":"10.1111/twec.13608","DOIUrl":"https://doi.org/10.1111/twec.13608","url":null,"abstract":"This paper introduces the New Industrial Policy Observatory (NIPO) data set and documents emergent patterns of policy intervention during 2023 associated with the return of industrial policy. The data show that the recent wave of new industrial policy activity is primarily driven by advanced economies and that subsidies are the most employed instrument. Trade restrictions on imports and exports are more frequently used by emerging market and developing economies. Strategic competitiveness is the dominant motive governments give for these measures, but other objectives such as climate change, resilience and national security are on the rise. In exploratory regressions, we find that implemented measures are correlated with the past use of measures by other governments in the same sector, pointing to the tit‐for‐tat nature of industrial policy. Furthermore, domestic political economy factors and macroeconomic conditions correlate with the use of industrial policy measures. We intend for the NIPO to be a publicly available resource to help monitor the evolution and effects of industrial policies.","PeriodicalId":75211,"journal":{"name":"The World economy","volume":"77 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141550490","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}
This study investigates the economic effects of states' implementing sanctions against Russia during the early stages of the Russia–Ukraine conflict in 2022. It specifically examines the effect of these sanctions on the stock returns of energy firms in a sample of 57 countries between August 2021 and October 2022, employing Difference‐in‐Differences imputation estimators to analyse heterogeneous event studies. The results show that sanctions initially lead to a short‐term increase in energy stock returns in the treatment countries, but this effect diminishes over time. The study also reveals that sanctions affect energy stock returns in NATO countries and flawed democracies significantly more than non‐NATO and fully democratic nations. The research includes robustness tests using stricter sanctions dates and an expanded sample, providing valuable insights for policymakers and investors navigating geopolitical events and their economic consequences.
{"title":"Are sanctions costly for the energy industry of sanctioning states? A difference‐in‐differences approach to sanctions during the Russia–Ukraine war","authors":"Phuc Van Nguyen, Vu Minh Ngo, Huan Huu Nguyen","doi":"10.1111/twec.13604","DOIUrl":"https://doi.org/10.1111/twec.13604","url":null,"abstract":"This study investigates the economic effects of states' implementing sanctions against Russia during the early stages of the Russia–Ukraine conflict in 2022. It specifically examines the effect of these sanctions on the stock returns of energy firms in a sample of 57 countries between August 2021 and October 2022, employing Difference‐in‐Differences imputation estimators to analyse heterogeneous event studies. The results show that sanctions initially lead to a short‐term increase in energy stock returns in the treatment countries, but this effect diminishes over time. The study also reveals that sanctions affect energy stock returns in NATO countries and flawed democracies significantly more than non‐NATO and fully democratic nations. The research includes robustness tests using stricter sanctions dates and an expanded sample, providing valuable insights for policymakers and investors navigating geopolitical events and their economic consequences.","PeriodicalId":75211,"journal":{"name":"The World economy","volume":"9 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141507410","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}
Containers are commonly thought to be important for international trade but the evidence is thin. I argue that containers were important to U.S. trade expansion but not when they were first adopted. Using previously unused data, I show that U.S. aggregate freight factors did not fall when containers were first adopted. It took a decade before containerised freight rates fell. Falling freight rates matter for trade growth, accounting for 36 percent of the increase in U.S. import share of output from 1972 to 1987 when the impact of containers began to be felt. Institutional factors in port industry delayed containers' significant labour cost savings. Compensation deals to longshoremen kept labour costs up despite rapidly increasing labour productivity in ports.
{"title":"The delayed impact of containers on U.S. international trade growth","authors":"Benjamin Bridgman","doi":"10.1111/twec.13607","DOIUrl":"https://doi.org/10.1111/twec.13607","url":null,"abstract":"Containers are commonly thought to be important for international trade but the evidence is thin. I argue that containers were important to U.S. trade expansion but not when they were first adopted. Using previously unused data, I show that U.S. aggregate freight factors did <jats:italic>not</jats:italic> fall when containers were first adopted. It took a decade before containerised freight rates fell. Falling freight rates matter for trade growth, accounting for 36 percent of the increase in U.S. import share of output from 1972 to 1987 when the impact of containers began to be felt. Institutional factors in port industry delayed containers' significant labour cost savings. Compensation deals to longshoremen kept labour costs up despite rapidly increasing labour productivity in ports.","PeriodicalId":75211,"journal":{"name":"The World economy","volume":"10 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141507411","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}
The application of industrial robots has emerged as a significant influencing factor on international trade. Based on product export stability data from 49 major exporting countries and corresponding industrial robot application data between 2010 and 2019, this study investigates the impact and mechanisms of industrial robot application on export stability in these countries. The findings demonstrate that the application of industrial robots enhances export stability. The mechanism results indicate that the application of industrial robots principally impacts trade stability by lowering export costs and raising the technological complexity of export products. Moreover, this effect can be enhanced by increased financial development, an innovative environment, and the empowerment of women. This study provides valuable policy implications for advancing the application of industrial robots and improving export stability.
{"title":"The impact of industrial robots on export stability","authors":"Hua Zhou, Jiachen Fan, Tian Gan","doi":"10.1111/twec.13602","DOIUrl":"https://doi.org/10.1111/twec.13602","url":null,"abstract":"The application of industrial robots has emerged as a significant influencing factor on international trade. Based on product export stability data from 49 major exporting countries and corresponding industrial robot application data between 2010 and 2019, this study investigates the impact and mechanisms of industrial robot application on export stability in these countries. The findings demonstrate that the application of industrial robots enhances export stability. The mechanism results indicate that the application of industrial robots principally impacts trade stability by lowering export costs and raising the technological complexity of export products. Moreover, this effect can be enhanced by increased financial development, an innovative environment, and the empowerment of women. This study provides valuable policy implications for advancing the application of industrial robots and improving export stability.","PeriodicalId":75211,"journal":{"name":"The World economy","volume":"183 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141507414","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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