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on International Trade |
| By: | Ito, Banri |
| Abstract: | Cross-border mergers and acquisitions (M&As) have grown rapidly in recent years and are a major part of foreign direct investment (FDI). However, M&A distribution is highly skewed, with most of the activity concentrated in certain countries and even in certain cities. Only a handful of cities account for most M&As. Unlike many previous studies that have relied on a gravity model approach using the bilateral volume of FDI, this study examines the determinants of cross-border M&As by applying an FDI gravity model to inter-city investment flows in the world. The empirical results, which are based on panel data of M&A flows across 44 major cities in the world from 2010 to 2017, show that besides the basic attributes used in conventional gravity models, such as market size and distance between origin city and destination city, urban-specific attributes such as the agglomeration of the world’s top-ranked firms and the number of foreign residents have a statistically significant explanatory power for inward M&As. |
| Keywords: | Gravity model, M&As, border effects, inter-city investment, agglomeration |
| JEL: | F14 F21 F23 R12 |
| Date: | 2020–11–16 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:103985&r=all |
| By: | Nogues, Julio J.; O'Connor, Ernesto |
| Abstract: | This paper reviews the recent experience of importing countries’ contingent protection measures against input subsidies from escalated export taxes in biodiesel imports from Argentina. The analysis indicates that the end result of a WTO that is empty of rules on primary agricultural export barriers opens the door for arbitrary policies by exporting countries and leaves importing countries without a legal right to impose compensating contingent measures. This was made clear by the findings of the WTO Panel and Appellate Body in the Argentina-EU biodiesel case. Nevertheless, under Trump’s charge against the multilateral trading system, since December 2019 the WTO Appellate Body remains non-functioning and therefore, importing countries can now impose counteracting measures without risking a negative legal finding as the EU faced. As illustrated by the US contingent measures, a non-functioning Appellate Body now facilitates arbitrary measures by importing countries. The obvious solution to this mess is to include WTO rules on agricultural export barriers, and reinstate the the Appellate Body to normal functioning. |
| Keywords: | Argentina; agricultural export barriers; input subsidies; US; Peru; Appellate Body; antidumping |
| JEL: | F1 F13 F14 |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:104058&r=all |
| By: | Martina Lawless |
| Abstract: | After decades of expansion and deepening integration in Europe, the referendum in the United Kingdom in June 2016 to leave the European Union was an unprecedented event. Amongst the many issues to be negotiated in unravelling membership, the withdrawal process has been dominated by the implications for the island of Ireland. Northern Ireland has been to the forefront as the location of the new border between the EU and a non-member state. While much of the focus has been on the political implications, this paper looks at the potential effects of Brexit on Ireland and Northern Ireland from an economic perspective. The current patterns of cross-border trade are examined and the potential impacts of Brexit discussed, depending on the extent to which it changes the economic relationship between the UK and EU and hence in the immediate neighbourhood of Ireland and Northern Ireland. |
| Keywords: | Brexit; Free trade agreements; Irish border |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:spo:wpmain:info:hdl:2441/7q032m5a2c9jhat9rj57h85soo&r=all |
| By: | Marjit, Sugata; Yang, Lei |
| Abstract: | Virtual markets allow consumers to save time costs to purchase goods and services. Countries lose relative to the conventional welfare gain when they increase consumption of non-virtual goods under free trade. We include the classical gains from trade theorem as a special case. For two identical countries that have same endowment and technology, the income difference between them can generate trade when we consider the time cost of purchasing goods. The rich country exports the non-virtual good and imports the virtual good while the poor country exports the virtual good and imports the non-virtual good. |
| Keywords: | Virtual Trade, Time Cost |
| JEL: | F10 O30 |
| Date: | 2020–11–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:104088&r=all |
| By: | Mao, Haiou; Görg, Holger |
| Abstract: | This paper considers the indirect impact the recent tariff increases between the United States and China can have on third countries through links in global supply chains. We combine data from input–output relationships, imports and tariffs, to calculate the impact of the tariff increases by both the United States and China on cumulative tariffs paid by third countries. We show that the tariff hikes increase cumulative tariffs for other countries and thus hurt trade partners further downstream in global supply chains. We also show that this is particularly important for tariff increases on Chinese imports in the United States. These are likely to be used as intermediates in production in the United States, which are then re-exported to third countries. The most heavily hit third countries are the closest trade partners, namely the EU, Canada and Mexico. We estimate that the tariffs impose an additional burden of around 500 million to 1 billion US dollars on these countries. China's tariffs on US imports have less of an effect. |
| Keywords: | cumulative tariffs,indirect tariffs,trade war |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:225992&r=all |
| By: | Sangeeta Khorana (Department of Accounting, Finance and Economics, Bournemouth University); Badri Narayanan G (School of Environmental and Forestry Sciences, University of Washington-Seattle); Nicholas Perdikis (Aberystwyth University, SY23 3AL) |
| Abstract: | This paper employs a computable general equilibrium (CGE) dynamic simulation model to analyse how Brexit is likely to impact the Welsh economy. The model simulates two potential future trade relationship scenarios between the United Kingdom (UK) and European Union (EU) for 29 March 2019: (a) No-deal Brexit, i.e. trading partners revert to World Trade Organization (WTO)rules; (b) Limited transition period and/or extension of Article 50. The model demonstrates how Welsh exports and imports, output, prices and employment are likely to be impacted from Brexit in the long-term. The scenarios modelled present a negative forecast for the Welsh (and UK) economy and industry, and show that the macroeconomic variables are sensitive to the policy disruption caused by Brexit. Projections show gross domestic product (GDP), GDP per capita, trade, investment and employment losses for the Welsh economy. A no-deal Brexit, which sees the UK reverting to trading with the EU on WTO terms, generates maximum losses for Wales (and the UK) in the long-term. In light of the results, it is important to avoid a no-deal Brexit that sees high losses and tariff barriers returning. A transition period arrangement or an extension to Article 50 also projects long-term losses for Wales. However, losses depend on the length of transition period and results show that a longer transition minimises losses for Wales (and the UK). From a policy perspective, a deal with an extended transition period should be agreed between the UK and EU as soon as possible to enable the continuation of existing EU-Wales trading arrangement. |
| Keywords: | Brexit; EU and UK; local economic impact; CGE modelling |
| JEL: | F13 F15 F17 C68 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:bam:wpaper:bafes27&r=all |
| By: | Jose L. Zofio (Universidad Autónoma de Madrid, Spain); Jorge Diaz-Lanchas (European Commission - JRC); Damiaan Persyn (European Commission - JRC); Javier Barbero (European Commission - JRC) |
| Abstract: | This paper undertakes the simultaneous estimation of import elasticities of substitution (trade elasticities) within European Union (EU) regions, differentiating between imports from regions belonging to the same country (national or interregional trade) and regions belonging to other EU countries (international trade within the EU). We use a nested CES utility structure to derive the corresponding trade gravity equations and estimate them by way of Poisson pseudo-maximum likelihood regression. As the EU is a single market, the usual approach followed in the international trade literature that relies on changes in bilateral tariffs cannot be used to identify the trade elasticities. To address this issue, a very detailed definition and calculation of the ad valorem specification of transport costs is performed. The methodology takes into account the transport engineering and logistic characteristics of road freight transportation, which allows us to obtain a reliable measure of the generalized transport costs between regions. Trade elasticities are calculated at several levels of industrial aggregation, including individual sectors at 2-digit CPA classification, and their higher-level categories corresponding to agriculture, mining, and manufacturing. Results show that the trade elasticity increases the closer are the trading partners; i.e., national vs. foreign elasticities, thereby providing the first evidence of this widely presumed hypothesis. National trade elasticities are broadly double the value of their foreign counterparts. We also find that trade elasticities substantially decrease as commodities are considered at a higher level of aggregation. Our calculated trade elasticities can be adopted in a wide array of models of international trade, or spatial economic models such as Regional Computable General Equilibrium models (e.g. the RHOMOLO model), improving the results obtained from simulations aimed at policy analysis. |
| Keywords: | Gravity equation, trade elasticities, interregional trade, international trade, generalized transportation costs |
| JEL: | C21 C68 F12 F17 R41 |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:termod:202005&r=all |
| By: | Roberto Antonietti; Giulia De Masi; Giorgio Ricchiuti |
| Abstract: | Globalization has considerably increased the movement of people and goods around the world, which constitutes a key channel of viral infection. Increasingly close economic links between countries speeds up the transfer of goods and information, and the knock-on effect of economic crises, but also the transmission of diseases. Foreign direct investment (FDI), in particular, establishes clear ties between countries of origin and destination, and it is along these chains that contagious phenomena can unfold. In this paper, we investigate whether countries with more central positions in the global production network have higher COVID-19 infection and mortality rates. We merge data on EU-28 outward FDI with data on COVID-19 per capita infection and death rates to analyze their association with the topology of the FDI network. Our estimates reveal that countries most exposed to the COVID-19 outbreak are those characterized by a more central role in the global production network. This result is robust to the use of alternative measures of network centrality, and to the possible influence of the 2008 financial crisis on the structure of the global production network. We also find that exposure to the pandemic increases with the centrality of a country in the FDI network of certain industries, including business machinery and equipment, business services, real estate, tourism and transport. |
| Keywords: | Foreign direct investment, economic networks, centrality measurements, COVID-19, pandemic |
| JEL: | F23 D85 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:frz:wpaper:wp2020_18.rdf&r=all |
| By: | Devasmita Jena (Lecturer, Madras School of Economics, Chennai, India); Swati Saini (Assistant Professor, Dyal Singh College, University of Delhi) |
| Abstract: | In recent time, India‘s growing trade deficits with its partner countries have been a major policy concern, making Indian policymakers cautious about signing new free trade deals. In this paper, we argue that in addition to the impact of trade agreements on India‘s trade balance, policy discussions on trade agreements should also take into account the impact of trade on a spectrum of other economic indicators, such as economic growth, income distribution and employment. In particular, the impact on employment is central to assess whether or not greater trade integration is helping or harming the country, since employment numbers capture both growth and distributional aspect of trade. This paper sheds light on this aspect by examining the impact of Association of South East Asian Nations (ASEAN)- India Free Trade Agreement (AIFTA) on industry-level employment in India during the period of 1996-97 to 2016-17. We use a dynamic econometric model in a panel framework and find that while export and import have had favorable impact on industrial sector employment prior to 2004-05, AIFTA led to decline in industrial sector employment post 2004-05. |
| Keywords: | Trade, Employment, India-ASEAN Free Trade Agreement, KLEMS |
| JEL: | F1 F4 J2 |
| URL: | http://d.repec.org/n?u=RePEc:mad:wpaper:2020-190&r=all |
| By: | Shuyao Yang |
| Abstract: | This paper investigates the impact of restrictive TBTs on firms’ extensive margins (export participation and exit probability), intensive margins (export value) and pricing strategy (export price). To this end, product-level restrictive TBTs and firm-level export are combined and an instrumental-variable approach is utilized. The results show that the imposition of restrictive TBTs adversely affect firms’ intensive and extensive margins, but not significantly affect firms’ price on average. More importantly, firms of different types, in the sense of firm sizes, number of destination markets and ownership types, are affected differently. Given the same restrictive TBTs, firms with higher productivity suffer less, while firms with lower productivity are more vulnerable to the trade barriers. |
| Keywords: | TBTs, firm heterogeneity, extensive margins, intensive margins, pricing strategy |
| JEL: | F13 F14 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8693&r=all |
| By: | Michael Sposi; Kei-Mu Yi; Jing Zhang |
| Abstract: | Motivated by increasing trade and fragmentation of production across countries since World War II, we build a dynamic two-country model featuring sequential, multistage production and capital accumulation. As trade costs decline over time, global-value-chain (GVC) trade expands across countries, particularly more in the faster growing country, consistent with the empirical pattern. The presence of GVC trade boosts capital accumulation and economic growth and magnifies dynamic gains from trade. At the same time, endogenous capital accumulation shapes comparative advantage across countries, impacting the dynamics of GVC trade: a country becoming more capital abundant concentrates more on the capital-intensive stage of the production. |
| Keywords: | Multistage production; International trade; Capital accumulation |
| JEL: | E22 F10 F43 |
| Date: | 2020–11–10 |
| URL: | http://d.repec.org/n?u=RePEc:fip:feddgw:89030&r=all |
| By: | Richard Chisik (Department of Economics, Ryerson University, Toronto, Canada); Sara Rohany Tabatabai (Department of Economics, Ryerson University, Toronto, Canada); |
| Abstract: | We analyze Preferential Trade Agreement (PTA) formation among a subset of members of a multilateral agreement when imported inputs are complementary to one another. A shallow multilateral agreement that focuses only on border policies does not place countries on the efficiency frontier. Furthermore, there can be no viable shallow PTA that improves on that multilateral outcome. Alternatively, a deep PTA that is concerned only with behind-the-border policies does increase each country's welfare. This result suggests that the recent proliferation of PTA formation is driven by a need for deep integration. Although these deep PTAs increase welfare over a shallow multilateral agreement (that precludes negotiation on behind-the-border policies) the efficiency frontier can only be reached by a deep multilateral agreement that covers both border and behind-the-border policies. Whether the PTA can generate consensus approval for further multilateral deep integration depends on the structure of the PTA. |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:rye:wpaper:wp079&r=all |
| By: | Dmitry Matveev (Bank of Canada); Francisco Ruge-Murcia (McGill University) |
| Abstract: | This paper examines Mundell's conjecture that in a flexible exchange rate regime, an increase in tariffs on foreign goods leads to the real appreciation of the local currency or, conversely, to the real depreciation of the foreign currency (Mundell, 1961). We focus on the exchange rate market's reaction to government communication in the form of tweets by the U.S. president that contain information about possible tariff increases on Canadian and Mexican goods. Results show that the anticipation of trade restrictions by the U.S. leads to a 0:022% depreciation in the Canadian dollar, and a 0:049% depreciation in the Mexican peso, with respect to the U.S. dollar. |
| Keywords: | NAFTA, commercial policy, high-frequency identification |
| JEL: | F13 F31 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:mtl:montec:19-2020&r=all |
| By: | Li, Minghao; Balistreri, Edward J.; Zhang, Wendong |
| Abstract: | The current trade war between the United States and China is unprecedented in modern history. This study introduces a database of tariff increases resulting from the recent trade war and quantifies the impacts using the canonical GTAPinGAMS model calibrated to the recently released GTAP version 10 accounts. We find that the tariff increases as of September 2019 decrease welfare in China by 1.9% and welfare in the U.S. by 0.3%. Impacts on sectoral revenue are reported for both countries. China’s exports to and imports from the United States are reduced by 58.3% and 50.7%. Most of the reductions in bilateral trade are absorbed by trade diversion to other countries. The welfare and U.S.-China bilateral trade impacts are exacerbated by additional tariffs threatened by the United States and corresponding retaliations from China. Sensitivity analysis is conducted by increasing and decreasing import substitution (Armington) elasticities by two standard deviations. This has modest impacts on welfare and trade flow results. |
| Date: | 2020–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:isu:genstf:202008010700001616&r=all |
| By: | Nitsch, Volker; Rabaud, Isabelle |
| Abstract: | Terrorist events typically vary along many dimensions, making it difficult to identify their economic effects. This paper analyzes the impact of terrorism on international trade by examining a series of three large-scale terrorist incidents in France over the period from January 2015 to July 2016. Using firm-level data at monthly frequency, we document an immediate and lasting decline in cross-border trade after a mass terrorist attack. The reduction in trade mainly takes place along the intensive margin, with particularly strong effects for partner countries with low border barriers to France, for firms with less frequent trade activities and for homogeneous products. A possible explanation for these patterns is an increase in trade costs due to stricter security measures. |
| Keywords: | shock,insecurity,uncertainty |
| JEL: | F14 F52 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc20:224652&r=all |
| By: | Steffen, Nico |
| Abstract: | We make use of a comprehensive trade panel data set that includes intra-national ows to identify the effect of national economic preferences - patience, risk attitude, negative reciprocity and pro-social preferences from the Global Preference Survey (GPS) - on external trade in a gravity approach, while still being able to crucially control for multilateral resistances by the proper fixed effects. We use a series of further identification approaches to compare the results and to disentangle channels for the impact of economic preferences on trade. We find that especially patience and risk aversion tend to foster external trade across the board. Additionally, we formally analyze the interaction effects of preferences and institutions. Our findings suggest that preferences may act as substitutes for bad formal institutions to some extent. |
| Keywords: | Trade determinants,Non-Tariff Barriers,Economic preferences,Sociocultural variation |
| JEL: | F10 F14 D01 D91 Z10 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dicedp:354&r=all |
| By: | Julien Gourdon; Susan Stone; Frank van Tongeren |
| Abstract: | Sanitary and Phytosanitary (SPS) provisions and Technical Barriers to Trade (TBT) generally raise trade costs, but by providing a positive signal to consumers that enhances confidence in imported products they can also expand trade. This paper seeks to identify which specific elements of SPS and TBT measures are particularly trade enhancing. It investigates the trade cost and trade enhancing effects of SPS and TBT measures along with other types of NTMs in agricultural trade. It provides estimations on the quantity and price effects on 34 SPS and 24 TBT measures.The econometric results show that technical measures can increase import prices of agricultural products by nearly 15%, most of which comes from restriction or special authorisation for TBT or SPS reasons, such as registration requirements. Conformity assessment also tends to significantly increase the cost of trade. Trade enhancing effects are identified for labelling and packaging requirements, which are also the measures with relatively low associated trade costs |
| Keywords: | SPS, TBT, Trade costs |
| JEL: | C21 F13 F14 L51 |
| Date: | 2020–11–20 |
| URL: | http://d.repec.org/n?u=RePEc:oec:agraaa:147-en&r=all |
| By: | Mariam Camarero (INTECO & Department of Economics, Universitat Jaume I, Castellón, Spain); Sergi Moliner (INTECO & Department of Economics, Universitat Jaume I, Castellón, Spain); Cecilio Tamarit (INTECO & Department of Applied Economics II, University of Valencia, Spain) |
| Abstract: | In this paper we analyze the potential determinants of US outward FDI stock with a particular focus on the euro effect during the period 1985-2016. To this aim, we consider a large set of candidate variables based on the theory as well as on previous empirical analysis. We select the covariates using a data-driven methodology, the Bayesian Model Averaging (BMA) analysis. Our sample includes a total of 51 host countries, that represents the 70% of US outward FDI stock. We study the role of the euro on American FDI patterns both in Europe and the rest of the world. Within Europe, we consider the European Union (EU) and the Euro Area (EA), and core and periphery within the EA. Although we conclude that US FDI is explained by both horizontal and vertical motives, we find that HFDI strategies predominate in EA core countries, whereas VFDI prevails in the EA periphery. |
| Keywords: | FDI determinants; Foreign Direct Investment; US; European Union; Euro area; Bayesian Model Averaging; Variable selection |
| JEL: | F21 F23 C11 C52 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:jau:wpaper:2020/25&r=all |
| By: | Cristina Cattaneo (RFF-CMCC); Daniela Grieco (University of Milan) |
| Abstract: | The way we collectively discuss migration shapes citizens’ perceptions of migrants and their influence on our society. This paper investigates whether a narrative about the positive impact of immigrants on the hosting economy affects natives’ behaviour towards migrants. To shed light on the underlying mechanism, we present a simple theoretical framework that models the relationship between beliefs, attitude and behaviour and identifies the sequential channels through which a narrative might be useful in changing attitude and behaviour. We test its predictions through an online survey experiment, where we deliver UK natives a favourable narrative about migrants. Treated subjects revise their beliefs about migrants and exhibit significantly more positive self-reported attitudes and more pro-migrant behaviour. Moreover, they update beliefs in a way that gives support to the existence of confirmation bias. |
| Keywords: | Immigration, Survey experiment, Narrative, Attitudes, Beliefs |
| JEL: | C90 D83 F22 J15 |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:crm:wpaper:2021&r=all |
| By: | Cristelli, Gabriele; Lissoni, Francesco |
| Abstract: | We study the innovation effects of the Agreement on the Free Movement of Persons (AFMP), signed by Switzerland and the EU in 1999. Using geocoded patent data, complemented by matched inventor-immigrant-census records, we identify a large number of cross-border inventors (CBIs), commuters from neighbouring countries working in Swiss R&D labs. We show that, during the AFMP implementation phase, the influx of CBIs increased differentially across regions at different driving distances from the border. That caused a 24% increase in patents, mostly due to large and medium patent holders (as opposed to very large ones) and to inventor teams mixing CBIs and natives. The latter were not displaced and increased their productivity, thanks to complementarity between their knowledge assets and those of CBIs. |
| Keywords: | Immigration, Innovation, Patents, Inventors, Free Movement of Persons |
| JEL: | F22 J61 O31 O33 |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:104120&r=all |
| By: | David Gomtsyan; Alexander Tarasov |
| Abstract: | In this paper, employing transaction level data for Russian imports, we explore the role of multi-product shipments in explaining shipping patterns across countries. First, we document that firms from more developed countries include on average more different products into a single shipment. We then show that such multi-product shipments can potentially explain why more developed countries tend to have a higher number of shipments per period with a lower average quantity and value. The mechanism considered in the paper is based on that multiproduct shipments allow splitting fixed costs per shipment across many products and, therefore, reducing total shipment costs. As a result, more developed countries tend to have lower fixed costs per shipment. Finally, we construct a simple partial equilibrium model that enables us to quantify the role of multi-product shipments in determining shipping costs. |
| Keywords: | asymmetric trade costs, fixed costs per shipment, advanced countries |
| JEL: | F10 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8652&r=all |
| By: | Zhang, Wendong; Xiong, Tao |
| Abstract: | The novel coronavirus has shocked the world’s economies. |
| Date: | 2020–03–13 |
| URL: | http://d.repec.org/n?u=RePEc:isu:genstf:202003130700001773&r=all |
| By: | Michel Beine |
| Abstract: | In this paper, I propose to isolate the role of age as a self-selection factor of international migration. The role of age is estimated on intended emigration rather than on observed outcomes of migration, using individual measures of intended emigration drawn from a large-scale survey conducted by Gallup. I find evidence that age has a monotonic negative effect on desired emigration for the working-age population. The estimations point to a very robust effect, suggesting that an additional year of age decreases the probability of intended emigration by about 0.5%. This effect is steady over different periods of time and for most types of countries of origin. The results contrast with previous evidence obtained on observed outcomes of migration, suggesting that out-selection factors interact with age and shape the demographic profile of migrants. |
| Keywords: | age, international migration, intended emigration, logit, large-scale survey |
| JEL: | F22 C25 J61 O15 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8688&r=all |
| By: | Ankan Ghosh (Madras School of Economics, Chennai, India); Zareena Begum Irfan (Associate Professor, Madras School of Economics, Chennai, India) |
| Abstract: | In the age of globalization international is an important phenomenon that we notice worldwide. International migration can happen for various reasons an there effect on the native country may be positive or negative and that is a matter of discussion. In this paper it is considered that migration happens for economic reason as well as social reasons. Economic reason may be better availability of jobs in other countries and a scope of greater income streams. Social factors include vulnerability in the native country due to political unrest, environmental damage factors and other social detentions in the native place. The paper discusses these factors as human rights, the unavailability of which will instigate people to migrate. The paper uses evidence from two countries- Bangladesh and Myanmar to see the same. A two country panel model was set up to get results which show that a tradeoff between the aforementioned rights and economic variables exists. |
| Keywords: | Migration, migration, human rights, labours, socio-economic |
| JEL: | J7 J61 F66 I3 Y4 |
| URL: | http://d.repec.org/n?u=RePEc:mad:wpaper:2020-188&r=all |
| By: | KAPSARC, King Abdullah Petroleum Studies and Research Center (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | Despite the common interests, markets, and economic policies among Gulf Cooperation Council (GCC) countries, their energy cooperation has been modest. GCC countries hold 20% of the world’s gas reserves. The Dolphin gas pipeline, connecting Qatar to the United Arab Emirates (UAE) and Oman, is currently the only GCC cross-border pipeline. |
| Keywords: | Natural Gas, Gulf Cooperation Council, Infrastrucuture development |
| Date: | 2020–11–16 |
| URL: | http://d.repec.org/n?u=RePEc:prc:wbrief:ks--2020-wb09&r=all |
| By: | Yu, David (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise) |
| Abstract: | As global macroeconomic uncertainties grow, there are notable shifts and oscillations in Chinese outbound investment and cross-border investment flows. This study shows China’s key investment characteristics including geographical preferences, investment compositions, and structural changes in industrial and foreign policies, such as Made in China 2025, financial liberalization, and OBOR. While these trends seem contradictory at times, opportunities are available for nimble and creative players who could capitalize on China’s increasing demand in the new economy (“xin jing ji”), with adequate consideration of regulatory scrutinies. |
| Keywords: | cross-border; China; outbound; investments; regulations |
| JEL: | F21 F68 K23 O53 |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:ris:jhisae:0145&r=all |
| By: | Stark, Oded; Kosiorowski, Grzegorz |
| Abstract: | Acknowledging that individuals dislike having low relative income renders trade less attractive when seen as a technology that integrates two economies by merging separate social spheres into one. We define a “trembling trade” as a situation in which gains from trade are less than losses in relative income, with the result that global social welfare is reduced. We show that a “trembling trade” can arise even when trade is more gainful in four ways: through trade the absolute income of everyone increases, the income gap in both economies is reduced, as is the income gap between the trading economies. However, trade brings populations, economies, or markets that were not previously connected closer together in social space. As a consequence, separate social spheres merge, and people’s social space and their comparators are altered. Assuming that people like high (absolute) income and dislike low relative income, the aggregate increase in unhappiness caused by the trade-induced escalation in relative deprivation can result in a negative overall impact of trade on (utilitarian-measured) social welfare, if the absolute income gains are not large enough to mitigate the relative income losses. |
| Keywords: | Community/Rural/Urban Development, Financial Economics, International Relations/Trade |
| Date: | 2020–11–09 |
| URL: | http://d.repec.org/n?u=RePEc:ags:ubzefd:307357&r=all |
| By: | Sarah Guillou (Observatoire français des conjonctures économiques) |
| Abstract: | The note presents the computation of industry foreign inputs dependency using input-output tables. It gives details on each level of dependency and finish with the infinite computation using the Leontief inverse matrix. It ends with some evidence by using WIOT data from 2000 to 2014 which shows the high growth of the technical dependency to Chinese inputs over the past 15 years. Construction, Telecommunications and Chemicals are Chinese-dependent sectors among the 20 first which also contribute a lot to the French economy. Nevertheless, for France and European countries, the dependency to Chinese inputs is well behind the dependency to European inputs. |
| Keywords: | Input-output tables; Leontief matrix; Inputs dependency; Chinese inputs |
| JEL: | F14 |
| Date: | 2020–05–20 |
| URL: | http://d.repec.org/n?u=RePEc:spo:wpmain:info:hdl:2441/61ti3h6msf88roou28skvvaj6b&r=all |