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Bilateral Trade (bilateral + trade)
Terms modified by Bilateral Trade Selected AbstractsCOMPARATIVE ADVANTAGE AND AUSTRALIA-CHINA BILATERAL TRADEECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 1 2008YU SHENG Bilateral trade between Australia and China has expanded in recent years. This paper examines the determinants of bilateral trade at the two-digit commodity level using a modified gravity model with explicitly specified revealed comparative advantage incorporated. This methodology allows us to explore how the relative comparative advantage of Australia and China to the world, mirroring their individual pattern of factor endowments, affects the pattern of trade between the two countries and to identify whether there exists a kind of complimentarity international specialisation between the two countries against the backdrop of each country's booming trade with the rest of the world. Key commodities such as agricultural products, iron ore, petroleum, textiles and clothing, and machinery goods are considered to estimate net welfare in terms of added value deriving from bilateral trade. The findings have policy implications for forging future trade and economic cooperation between Australia and China. [source] Technology, Geography, and TradeECONOMETRICA, Issue 5 2002Jonathan Eaton We develop a Ricardian trade model that incorporates realistic geographic features into general equilibrium. It delivers simple structural equations for bilateral trade with parameters relating to absolute advantage, to comparative advantage (promoting trade), and to geographic barriers (resisting it). We estimate the parameters with data on bilateral trade in manufactures, prices, and geography from 19 OECD countries in 1990. We use the model to explore various issues such as the gains from trade, the role of trade in spreading the benefits of new technology, and the effects of tariff reduction. [source] COMPARATIVE ADVANTAGE AND AUSTRALIA-CHINA BILATERAL TRADEECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 1 2008YU SHENG Bilateral trade between Australia and China has expanded in recent years. This paper examines the determinants of bilateral trade at the two-digit commodity level using a modified gravity model with explicitly specified revealed comparative advantage incorporated. This methodology allows us to explore how the relative comparative advantage of Australia and China to the world, mirroring their individual pattern of factor endowments, affects the pattern of trade between the two countries and to identify whether there exists a kind of complimentarity international specialisation between the two countries against the backdrop of each country's booming trade with the rest of the world. Key commodities such as agricultural products, iron ore, petroleum, textiles and clothing, and machinery goods are considered to estimate net welfare in terms of added value deriving from bilateral trade. The findings have policy implications for forging future trade and economic cooperation between Australia and China. [source] The (Ir)Relevance of Militarized Interstate Disputes for International TradeINTERNATIONAL STUDIES QUARTERLY, Issue 1 2002Quan Li Do military disputes between two states suppress trade between their firms? Both liberals and realists suggest that conflict occurrence reduces bilateral trade. However, using a rational expectation argument, Morrow (1999) proposes that conflict occurrence and trade should be uncorrelated statistically. Empirical evidence to date both supports expectations and appears contradictory and inconclusive. We offer a theory that reconciles, encompasses, and extends the competing arguments, explaining the empirical inconsistency. By incorporating rational expectations and uncertainty into the profit calculus of trading firms, the theory identifies the conditions under which various properties of a conflict (onset, duration, and severity) should and should not reduce bilateral trade ex ante and ex post. We test the ex post effects in two datasets that cover either a wider range of countries or a longer time period than previous quantitative studies. Both an unexpected MID onset and the unexpectedness of a MID onset reduce bilateral trade substantially ex post. Preliminary tests suggest that MID duration and severity also affect bilateral trade ex post. We conclude by discussing the implications of our research. [source] The Barcelona Process and the Political Economy of Euro-Mediterranean Trade Integration,JCMS: JOURNAL OF COMMON MARKET STUDIES, Issue 5 2007MARCO MONTANARI The Barcelona Process aims to create a free trade area between the EU and its Mediterranean neighbours by 2010. This article uses two-level game theory to analyse the negotiations leading to the signature of the Euro-Mediterranean Association Agreements. It argues that conflicts of interests between the actors involved in the bargaining process are responsible for the restrictive nature of the agreements, characterized by agricultural protectionism, long transition periods and small amounts of financial support allocated by the EU to its partners. These provisions have prevented the Barcelona Process from significantly boosting Euro-Mediterranean bilateral trade in the last few years. [source] Are There Differences Across Countries Regarding the Effect of Currency Unions on Trade?JCMS: JOURNAL OF COMMON MARKET STUDIES, Issue 1 2006Evidence from EMU This article investigates the effect of EMU on the bilateral trade of each EMU country with the rest of the euro area using pooled data in the context of an augmented gravity model. Using the fixed effect in the pooled data, the empirical results indicate that EMU's effect on trade differs across euro area countries. For Belgium/Luxembourg, Finland, Germany, Ireland, the Netherlands, Portugal and Spain the effect is positive and statistically significant, whereas in the cases of Austria, France and Greece, it is negative and statistically significant. For Italy, EMU's effect on its trade with the rest of the euro area is positive but not statistically significant. [source] Bilateral Import Protection, Free Trade Agreements, and Other Factors Influencing Trade Flows in Agriculture and ClothingJOURNAL OF AGRICULTURAL ECONOMICS, Issue 2 2009Thomas L. Vollrath F1; F13; F14 Abstract Many factors shape the global network of bilateral trade including fundamental forces of supply and demand factors and government policies. This study uses the generalised gravity framework to distinguish among the different drivers that either deter or aid partner trade in land-intensive agriculture and labour-intensive clothing. The dataset used in the analysis includes bilateral trade among 70 countries in 1995, 2000 and 2005. Collectively, the 70 countries account for 85% of the world's trade in agriculture and 96% of its GDP. Empirical results lend support to the Heckscher,Ohlin explanation of trade, namely that relative factor endowments motivate cross-border trade. Results also show that tariffs are not always binding and bilateral free-trade agreements more often divert rather than create trade. [source] A Meta-Analysis of the Effect of Common Currencies on International Trade,JOURNAL OF ECONOMIC SURVEYS, Issue 3 2005Andrew K. Rose Abstract., Thirty-four recent studies have investigated the effect of currency union on trade, resulting in 754 point estimates of this effect. This paper uses meta-analysis to combine, explain, and to summarize these disparate estimates of common currency trade effects. The hypothesis that there is no effect of currency union on trade is easily and robustly rejected at standard significance levels. Combining these estimates implies that a currency union increases bilateral trade by between 30 and 90%. Although there is evidence of publication selection, there is also evidence of a genuine positive trade effect beyond publication bias. [source] Assessing protectionism and subsidies in agriculture,A gravity approachJOURNAL OF INTERNATIONAL DEVELOPMENT, Issue 5 2008Claudio Paiva Abstract This paper provides the first comprehensive empirical analysis of agricultural trade using a gravity model. The data set covers bilateral trade in agricultural goods for 152 countries over the periods 1990,1993 and 1999,2002. The estimations support claims that protectionism and distortive subsidies to agriculture remain widespread among industrialised nations, which are shown to import fewer and export more agricultural products than expected given other economic, political and geographic determinants of trade. However, some developing regions which are often thought to be the main victims of industrial-country protectionism are also found to be relatively closed to agricultural trade. Copyright © 2008 John Wiley & Sons, Ltd. [source] How Do Copyrights Affect Economic Development and International Trade?THE JOURNAL OF WORLD INTELLECTUAL PROPERTY, Issue 3 2009Pamela J. Smith This article analyzes the effects of copyrights on economic development and international trade. First, we apply an aggregate production function to examine the effects of "copyright-related capital" (CRC) on development. This form of capital includes personal computers, servers, and bandwidth, which embody or transmit copyrighted materials. Second, we apply the gravity model of international trade to examine the effects of copyright policies on bilateral trade in core copyright industries. Third, we integrate the above frameworks to examine the two-stage effects of copyrights on development, and then on trade. We analyze these relationships using cross-sectional data for a large sample of countries. The findings show that a country's CRC contributes positively to its economic development. The findings also show that the relative harmonization of copyright policies between countries has a positive effect on bilateral trade in core copyright industries. Finally, the findings show evidence of a two-stage process where a country's CRC contributes positively to its economic development (stage 1), which then contributes positively to its trade (stage 2). [source] EXCHANGE RATE REGIMES AND TRADETHE MANCHESTER SCHOOL, Issue 2007CHRISTOPHER ADAM A ,new version' of the gravity model is used to estimate the effect of a full range of de facto exchange rate regimes on bilateral trade. The results indicate that, while participation in a common currency union is typically strongly ,pro-trade', other exchange rate regimes which lower the exchange rate uncertainty and transactions costs associated with international trade are significantly more pro-trade than the default regime of a ,double float'. They suggest that the direct and indirect trade-creating effects of these regimes on uncertainty and transactions costs tend to outweigh the trade-diverting substitution effects. Tariff-equivalent monetary barriers associated with each exchange rate regime are also calculated. [source] Trade, Investment and Economic Interdependence between South Korea and China,ASIAN ECONOMIC JOURNAL, Issue 4 2006Joon-Kyung Kim F10; F21 The Korean economy has been significantly affected by the emergence of China. It is now the largest market for Korean exports and a major supplier of its low-cost imports but has at the same time become a serious challenger to Korea in the world markets for manufacturing exports. This paper investigates changes in China's export structure and its effect on Korea, and bilateral trade between the two. It also examines the motives for Korean investment in China and its effect on bilateral trade and cross-border production networks. [source] Assessing the Exchange Rate Sensitivity of U.S. Bilateral Agricultural TradeCANADIAN JOURNAL OF AGRICULTURAL ECONOMICS, Issue 2 2009Jungho Baek This paper uses an autoregressive distributed lag approach to cointegration to examine the short- and long-run effects of exchange rate changes on bilateral trade of agricultural products between the United States and its 10 major trading partners. Results show that, in the long run, while U.S. agricultural exports are highly sensitive to bilateral exchange rates and foreign income, U.S. agricultural imports are mostly responsive to the U.S. domestic income. In the short run, on the other hand, both the bilateral exchange rates and income in the United States and its trading partners are found to have significant impacts on U.S. agricultural exports and imports. Dans le présent article, nous avons utilisé un modèle autorégressif à retards échelonnés (autoregressive distributed lag (ARDL) approach to cointegration) pour examiner les effets à court et à long terme des variations de taux de change sur le commerce bilatéral des produits agricoles entre les États-Unis et ses dix principaux partenaires commerciaux. Les résultats ont montré que, à long terme, bien que les exportations agricoles des États-Unis soient très sensibles aux taux de change bilatéraux et au revenu étranger, les importations agricoles des États-Unis sont principalement sensibles au revenu intérieur des États-Unis. À court terme, par contre, les taux de change bilatéraux et le revenu des États-Unis et de ses partenaires commerciaux ont des répercussions considérables sur les exportations et les importations agricoles des États-Unis. [source] Empirical Analysis of the Structure of Sino-US Agricultural TradeCHINA AND WORLD ECONOMY, Issue 4 2007Yingmei Zheng F14; G22; Q17 Abstract This paper empirically analyzes the structure of agricultural trade between China and the USA from 1996 to 2005, using different trade indexes such as the Grubel,Lloyd Index, the Revealed Comparative Advantage Index, the Finger,Kreinin Similitude Index and the Export Diversification Index, with a focus on the issues impeding Sino-US agricultural trade. We found that over the period of 1996 to 2005, inter-industry trade outweighed intra-industry trade in Sino-US agricultural trade, and that bilateral trade was more complementary than competitive. At the same time, China's agricultural exports were more diversified than USA exports, but China's degree of diversification steadily declined during the sample period. The findings indicate that there exists great potential for further development of agricultural trade between China and the USA, and that positive and effective trade policies will result in maximization of potential agricultural trade development and will bring forth mutual benefits to both countries. [source] The urban market for farmers' water rights,IRRIGATION AND DRAINAGE, Issue 4 2003Stephen Merrett stress de répartition; irrigation; droits à l'eau; provision urbaine Abstract Allocation stress, that is, access conflicts between the agricultural, domestic, industrial, urban service and environmental uses of water, is set to become more intense in the future because of global population growth and climate change. Because of the dominant role of irrigation water use at the global level, it is imperative to explore the possibilities of reducing farmers' use of water or, at the very least, of slowing its growth. One process by which the scale of irrigation is reduced occurs when farmers choose to sell their water rights to actors that apply these released flows in towns and cities for household, manufacturing and urban service uses. In this paper a theory of price and volume determination of such markets is presented, using concepts of urban actors' maximum bid price and farmers' minimum release price for water rights. The limits of the theory are then discussed with respect to timescale, water concessions, part-sales, sales of land, the legal context, third-party effects, market structure and transaction costs. The main conclusion is that the market equilibrium approach is rarely applicable and that fieldwork will in general have to deal with arcane, one-off bilateral trades. Copyright © 2003 John Wiley & Sons, Ltd. Les contraintes d'allocation de l'eau, c'est-a-dire, les conflits d'accès à l'eau entre secteurs agricole, domestique, industriel, urbain et de l'environnment, vont augmenter dans le futur, à cause du changement du climat et de la croissance de la population mondiale. Le rôle dominant de l'irrigation tend de réduire l'usage de l'eau dans la secteur agricole. Cette réduction se produit quand les fermiers vendent leur droits à l'eau aux acteurs urbains. Dans cet article on présente une théorie des prix et quantités de ces marchés. On présente aussi les limites de la théorie et on conclut que l'approche par équilibre du marché s'applique rarement et qu'il faut en pratique considerer egalement des transactions obscures et bilatérals. Copyright © 2003 John Wiley & Sons, Ltd. [source] | |||||||||||||