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Trade
Kinds of Trade Terms modified by Trade Selected AbstractsFREE TRADE, ,PAUPER LABOUR' AND PROSPERITY: A REPLY TO PROFESSOR MISHANECONOMIC AFFAIRS, Issue 1 2006John Meadowcroft In an Economic Viewpoint published in the September 2005 edition of Economic Affairs, ,Can Globalisation Depress Living Standards in the West?', Professor E. J. Mishan argued that globalisation may reduce living standards in the West by decreasing the labour,capital ratio in developed countries as firms move production to countries where labour is cheaper and/or migrants to the West from the developing world bid down wage rates. In a reply to Professor Mishan's article, Dr John Meadowcroft argues that this view of globalisation is far too pessimistic and explains why free trade, not protection, will secure the prosperity of developed and developing economies. In a final comment, Professor Mishan responds to this critique of his analysis. [source] GUNS AND OIL: AN ANALYSIS OF CONVENTIONAL WEAPONS TRADE IN THE POST-COLD WAR ERAECONOMIC INQUIRY, Issue 2 2010NEHA KHANNA This paper analyzes the global conventional weapons trade between 1989 and 1999. We postulate that a key reason for the huge transfer of weapons to the Persian Gulf region is the enormous value of the oil wealth there along with the dependence of Western economies on access to the relatively cheap and steady supply of crude oil. We find a strong, positive, and robust empirical association between arms trade and crude oil trade and explain it as the result of a target price band arrangement that was responsible for the remarkably stable crude oil prices during our study period. (JEL F10, F59, Q38) [source] GAUGING ECONOMIC PERFORMANCE UNDER CHANGING TERMS OF TRADE: REAL GROSS DOMESTIC INCOME OR REAL GROSS DOMESTIC PRODUCT?ECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 4 2008Dr WILLIAM COLEMAN The paper presents a simple theoretical case for the superiority of the notion of Real Gross Domestic Income to Gross Domestic Product. It is shown that, in a multi-period version of the familiar neoclassical model of a small, open economy, a temporary improvement in its terms of trade will increase welfare and RGDI, and produce a trade surplus in current prices; but will decrease real GDP, on account of it creating a trade deficit at constant prices. [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] INTERNATIONAL LINER SHIPPING: AN ASSESSMENT OF PART X OF THE TPA AND ITS APPLICATION TO THE AUSTRALIA-SOUTHEAST ASIA TRADEECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 4 2002NEIL BYRON First page of article [source] TRADE REFORMS AND PERFORMANCE: EVIDENCE FROM AUSTRALIAN MANUFACTURING BETWEEN 1989/90 AND 1996/97ECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 2 2002KANKESU JAYANTHAKUMARAN First page of article [source] THE GOLDEN TRIANGLE: INSIDE SOUTHEAST ASIA'S DRUG TRADEADDICTION, Issue 1 2010MICHAEL WOODIWISS No abstract is available for this article. [source] CONTRACT ENFORCEMENT AND INTERNATIONAL TRADEECONOMICS & POLITICS, Issue 2 2007PRIYA RANJAN This paper derives estimating equations from a model where individuals consume two classes of goods, and the degree of contract enforcement affects the transaction cost of trade in the two classes of goods differentially. Empirically, using Rauch's classification, internationally traded goods are classified into differentiated goods and those possessing a reference price, with the presumption that contract enforcement issues are more important for the former. It is verified that the measures of contract enforcement affect the volume of trade in both types of goods, but the impact is larger for differentiated goods. [source] DRUGS AND MONEY: MANAGING THE DRUG TRADE AND CRIME-MONEY IN EUROPEADDICTION, Issue 6 2006PIERRE KOPP No abstract is available for this article. [source] BILATERALISM AND FREE TRADE,INTERNATIONAL ECONOMIC REVIEW, Issue 3 2006Sanjeev Goyal We study a setting with many countries; in each country there are firms that can sell in the domestic as well as foreign markets. Countries can sign bilateral free-trade agreements that lower import tariffs and thereby facilitate trade. We allow a country to sign any number of bilateral free-trade agreements. A profile of free-trade agreements defines the trading regime. Our principal finding is that, in symmetric settings, bilateralism is consistent with global free trade. We also explore the effects of asymmetries across countries and political economy considerations on the incentives to form trade agreements. [source] COOPERATION AND TRADE: COTE D'IVOIRE,SWITZERLAND: Toxic Waste FinesAFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 7 2010Article first published online: 1 SEP 2010 No abstract is available for this article. [source] COOPERATION AND TRADE: AngolaAFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 7 2010Article first published online: 1 SEP 2010 No abstract is available for this article. [source] COOPERATION AND TRADE: KENYA,JAPAN: Loan DealAFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 7 2010Article first published online: 1 SEP 2010 No abstract is available for this article. [source] COOPERATION AND TRADE: SUDAN,UK: Trade LinksAFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 7 2010Article first published online: 1 SEP 2010 No abstract is available for this article. [source] INTERREGIONAL KNOWLEDGE SPILLOVERS AND OCCUPATIONAL CHOICE IN A MODEL OF FREE TRADE AND ENDOGENOUS GROWTH,JOURNAL OF REGIONAL SCIENCE, Issue 5 2009Colin R. Davis ABSTRACT A two region model of horizontal innovation with free trade and occupational choice is used to examine the spatial patterns of innovation and manufacturing industry in interior and core-periphery long-run equilibria. The inclusion of skill heterogeneity among workers creates a tension between stabilizing productivity effects that coincide with reallocations of workers across industries, and destabilizing productivity effects that arise with localized stocks of knowledge capital. We find that while core-periphery equilibria are always saddlepath stable, interior equilibria are saddlepath stable when knowledge spillovers exceed a threshold level but are unstable otherwise. In addition, incorporating skill heterogeneity into the model allows for interior equilibria with asymmetric shares for innovation and industry. [source] THE EFFECTS OF TRADE WITH DEVELOPING COUNTRIES ON THE REGIONAL DEMAND FOR SKILL IN THE U.S.: EVIDENCE FROM COUNTY DATA,JOURNAL OF REGIONAL SCIENCE, Issue 3 2009Ivan T. Kandilov ABSTRACT Using county-level data from the 1980s and 1990s and a county-level trade measure that incorporates the county's industrial mix and patterns of international trade across industries, I provide new evidence that trade with developing countries raises the demand for skill and the skill premium in the U.S. Consistent with Heckscher,Ohlin, I find that trade driven by differences in factor endowments has an economically significant impact on local labor markets. The evidence suggests that when trade with developing countries rises, counties with higher skill endowment and greater employment in industries with larger trade shares experience greater relative demand for high-skilled labor. [source] NEW APPROACHES ON THE ARCHAIC TRADE IN THE NORTH-EASTERN IBERIAN PENINSULA: EXPLOITATION AND CIRCULATION OF LEAD AND SILVEROXFORD JOURNAL OF ARCHAEOLOGY, Issue 2 2010NÚRIA RAFEL Summary A wide-ranging study based on compositional and isotopic analyses of minerals and manufactured objects from the north-eastern Iberian Peninsula and their respective archaeological and cultural contexts demonstrates significant lead mineral exploitation in the El Priorat area (Tarragona province) linked to Phoenician trade (seventh,sixth centuries BC). This exploitation continued, despite losing intensity, until the Romanization of the territory. Our project also aims to determine the nature and origin of the lead and silver supply in the northern Iberian territory surrounding the Phocaean enclave of Emporion, especially with regard to the demands of the colonial mint. The behaviour pattern of the circulation of lead, silver and copper in Catalonia in the period studied indicates a plurality of contemporary supply sources, although, at least from the fifth century BC onward, minerals and metals from the south-eastern Iberian Peninsula take on considerable importance. [source] CURRENCY UNIONS, TRADE FLOWS AND CAPITAL FLOWSPACIFIC ECONOMIC REVIEW, Issue 2 2007James Yetman The existing empirical evidence is based on reduced form models of trade, and therefore indicates correlation between but neither causality nor mechanism. This paper argues that the causal relationship runs from currency unions to trade, and then considers two possible mechanisms behind this: currency union membership: reduces trade resistance or reduces investment resistance. We argue that both mechanisms are required to explain the observed economic impact of currency union membership. [source] SPECIALIZATION AND TRADE: A GAME THEORETICAL APPROACHPACIFIC ECONOMIC REVIEW, Issue 4 2006Shuntian Yao Different from the classical treatment, we adopt a game theoretical approach. Therefore in our models the prices of traded goods are endogenously formulated according to the bidding strategies of the producer-consumers. Furthermore, we assume that in the beginning individuals randomly choose their professions. As a result, with a short-run Nash equilibrium different types of professionals may have different utility levels; while through a dynamic process, a long-run Nash equilibrium with utility equalization is reached. Besides, we also attempt to provide a new algorithm for the computation of general equilibrium models in the Yang-Ng framework. [source] APEC: INTERNATIONAL TRADE AND OUTPUTPACIFIC ECONOMIC REVIEW, Issue 3 2003Yutaka Kurihara A gravity model is used to measure the impact of exchange-rate variability on trade flows within APEC. The gain in trade flows from eliminating nominal exchange-rate variability through the formation of a currency union is less than 1%. Furthermore, every 1% increase in trade (relative to GDP) raises income per capita by roughly 0.3% for twenty years. Adopting the dollar currency union is much more profitable than adopting a yen currency union for each country in APEC. [source] BORDER BARRIERS IN AGRICULTURAL TRADE AND THE IMPACT OF THEIR ELIMINATION: EVIDENCE FROM EAST ASIATHE DEVELOPING ECONOMIES, Issue 2 2010Kuo-I CHANG F13; F14; Q17 We investigate the impact of the elimination of import tariffs and nontariff policy barriers (NTPBs) on agricultural trade in a notional East Asian Free Trade Agreement using a Global Trade Analysis Project (GTAP)-based computable general equilibrium model. The investigation is divided into two parts. We first measure the NTPBs by employing a widely used method derived from the literature on border effects. Then, by adding into the GTAP database our estimates on the NTPBs, which the original GTAP database by its nature does incorporate, we compute the impact of the entire elimination of policy barriers (the complete reduction of import tariffs and NTPBs) on GDP. The result shows that there are remarkable differences between the effect of abolition of import tariffs and that of entire elimination of all import barriers. [source] STRUCTURAL CHANGES IN INDONESIAN INDUSTRY AND TRADE: AN INPUT-OUTPUT ANALYSISTHE DEVELOPING ECONOMIES, Issue 1 2005Mitsuhiro HAYASHI This study evaluates the current achievement of industrialization in Indonesia and clarifies what the major challenges are for sustaining industrialization. This is done by examining structural changes in the economy from the period before to the period after economic crisis using the method of input-output (I-O) analysis. After tracing the history of economic development in Indonesia, changes in industry and trade between 1995 and 2000 are viewed using skyline chart analysis, industrial linkage analysis, and growth-factor decomposition analysis. Results indicate that from 1995 to 2000, the manufacturing industry expanded the share of production, strengthened export orientation, and lowered import dependency. However, these phenomena appear to have resulted primarily from slumps in growth factors other than export demand as well as sharp declines in the value of the rupiah. This study shows that the current decrease of investment is a bottleneck in industrialization and indicates an urgent need for Indonesia to improve the investment environment, particularly for foreign investors. [source] INTERNATIONAL AND INTRA-NATIONAL TRADE: A CONTINUUM APPROACH,THE JAPANESE ECONOMIC REVIEW, Issue 3 2009SUGATA MARJIT We build up a Ricardian trade model with multiple regions within a nation and examine how international trade determines interregional patterns of production and specialization. We show that the degree of interregional concentration of economic activities moves in different directions in two trading nations. The role of "absolute advantage" becomes crucial in dictating the course of income disparity across regions. We discuss cases with varying degrees of labour mobility and reconfirm the result on post-trade interregional concentration and dispersion. Later we explore the impact of "scale factor" in this model and show how principle of comparative advantage and economies of scale interact to determine the pattern of specialization and volume of trade. [source] HOW THE GLOBALIZATION OF R&D COMPETITION AFFECTS TRADE AND GROWTHTHE JAPANESE ECONOMIC REVIEW, Issue 3 2004GWANGHOON LEE The implications of international R&D competition on trade and growth are investigated. The model is one in which a separate R&D sector competes with the manufacturing sector to secure human capital, and technology is licensed to manufacturers by the winner of a pre-emptive R&D competition. The results show that globalization of R&D competition leads to trade between countries (even identical countries), because the result of competition leads to a reallocation of human capital between sectors. The winning country exports technology and traditional goods, while the loser exports manufactured goods. Globalization with indiscriminate technology licensing increases the world's economic growth rate. [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] REGIONAL TRADE IN SUB-SAHARAN AFRICA: AN ANALYSIS OF EAST AFRICAN TRADE COOPERATION, 1970,2001,THE MANCHESTER SCHOOL, Issue 2 2005COLIN KIRKPATRICK The growth in regionalism in recent years has been reflected in a renewed interest within sub-Saharan Africa in regional trade arrangements, and the recent adoption of the East African Cooperation agreement has continued a long tradition of trade cooperation between the economies of Kenya, Tanzania and Uganda. Using a gravity model approach, this paper examines the pattern of trade over the past three decades of regional trade cooperation in East Africa. The results suggest that regional trade cooperation has had a positive effect on the growth of trade between the three economies. [source] FROM SUSA TO ANURADHAPURA: RECONSTRUCTING ASPECTS OF TRADE AND EXCHANGE IN BITUMEN-COATED CERAMIC VESSELS BETWEEN IRAN AND SRI LANKA FROM THE THIRD TO THE NINTH CENTURIES AD*ARCHAEOMETRY, Issue 3 2008B. STERN In contrast with artefactual studies of long-distance trade and exchange in South Asia during the Prehistoric and Early Historic periods (Ardika et al. 1993; Gogte 1997; Krishnan and Coningham 1997; Tomber 2000; Gupta et al. 2001; Ford et al. 2005), few scientifically orientated analyses have focused on artefacts from the region's Historic period. During excavations at the ancient city of Anuradhapura, Sri Lanka, a number of buff ware ceramics with a putative organic coating on the interior were recovered (Coningham 2006). Dated stylistically to between the third and ninth centuries ad, analysis of the coatings using gas chromatography,mass spectrometry (GC,MS) and stable isotope analysis (carbon and deuterium) confirmed that the coatings are bitumen,an organic product associated with petroleum deposits. There are no known bitumen sources in Sri Lanka, and biomarker distributions and isotopic signatures suggest that the majority of the samples appear to have come from a single bitumen source near Susa in Iran. The relationship between the bitumen coatings and the vessels is discussed, and it is suggested that the coatings were used to seal permeable ceramic containers to allow them to transport liquid commodities. This study enhances our knowledge of networks of trade and exchange between Sri Lanka and western Asia during Historic times. [source] FOREIGN TRADE, COMMERCIAL POLICIES AND THE POLITICAL ECONOMY OF THE SONG AND MING DYNASTIES OF CHINAAUSTRALIAN ECONOMIC HISTORY REVIEW, Issue 1 2008Article first published online: 6 FEB 200, Kenneth S. Chan authority; institutions; Ming Dynasty; Song Dynasty; tributary trade The paper presents a framework to explore the trade-off between pro-authority and pro-efficiency foreign trade policy. The former is exemplified by the tributary foreign trade system in Imperial China, while the latter by the government-supervised private foreign trade. In the Song Dynasty (960,1276), a strong external enemy compelled the monarchy to choose a pro-efficiency trade policy to finance the army, whereas during the early Ming Dynasty (1368,1644) when China was strong a pro-authority trade policy was favoured. During the late Ming, as the dynasty weakened, accompanied by external threats and internal mismanagement, the imperial government once again chose a pro-efficiency trade policy. [source] TRADE AND INDUSTRIAL ORGANISATION: JAPANESE AMMONIUM SULPHATE INDUSTRY IN THE INTERWAR PERIODAUSTRALIAN ECONOMIC HISTORY REVIEW, Issue 1 2006Anil Khosla, Article first published online: 8 MAR 200 chemical industry; industrial organisation; Japan; oligopoly Trade is considered an effective antidote to the exercise of domestic market power. This article, through an analysis of the structure, conduct and performance of the Japanese ammonium sulphate industry during the interwar period, shows that trade is not always a sufficient condition for domestic markets to become competitive. In industries exhibiting substantial economies of scale, availability and diffusion of technology, existence of surplus international capacity and the ability of domestic producers to deter imports can impede instantaneous adjustment of international supply to imbalances in demand and supply thereby allowing domestic producers to exercise their market power. [source] TECHNOLOGY CHOICE AND ENVIRONMENTAL AWARENESS IN A TRADE AND ENVIRONMENT CONTEXT,AUSTRALIAN ECONOMIC PAPERS, Issue 3 2009AKIRA YAKITA Assuming that an environmentally-friendly technology not only reduces pollution emissions but also strengthens the preference of consumers for goods produced with such a technology, we show that a legally stipulated choice of cleaner technologies, requiring resources and hence reducing output, can improve the welfare of the economy even when other economies do not choose such technologies, and that the driving force can be the terms-of-trade effect. Therefore, even a unilateral regulation on the choice of technology would be approved in the economy when the environmental awareness of consumers is sufficiently raised. [source] | ||||||||||||||||||||||||||||||||||||||||||||||