Impact of Global Issues on International Trade
Impact of Global Issues on International Trade

Author: Co?kun Özer, Ahu

Publisher: IGI Global

Published: 2021-06-25

Total Pages: 291

ISBN-13: 1799883167

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International trade is vital in today’s world; international trade can be affected by a number of issues such as terrorism, economic crises, and pandemics such as COVID-19. It is crucial to understand the impact these global issues have on international trade and what happens to trade when global issues arise. A comprehensive guide of these issues is needed to provide background and understanding about international trade and its relationship with global issues. Global issues occasionally dominate a continuing theme of the international globalized world: global crises, war, security issues, global pandemics such as COVID-19, and trade wars. Global cooperation is required to solve such problems. Economically intellectual thinking will enable the development of guiding policies in solving these global problems. In this book, the effects of global issues on international trade will be evaluated, and policy recommendations will be made for the solution of the global issues. Impact of Global Issues on International Trade is a critical reference source that uses analytic research to analyze the effects of global economic and financial crises as well as global health crises and their impact on international trade. Pandemics such as the COVID-19 pandemic, the global economic crisis, and trade wars are discussed, and political suggestions are made to mitigate negative impacts. Covering a wide range of topics such as financial fragility and trade fairs, it is ideal for trade specialists, policymakers, government officials, managers, executives, economists, academicians, researchers, students, and industry professionals.

The Intensive Margin in Trade
The Intensive Margin in Trade

Author: Ana Fernandes

Publisher: International Monetary Fund

Published: 2018-12-07

Total Pages: 66

ISBN-13: 1484386175

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The Melitz model highlights the importance of the extensive margin (the number of firms exporting) for trade flows. Using the World Bank’s Exporter Dynamics Database (EDD) featuring firm-level exports from 50 countries, we find that around 50 percent of variation in exports is along the extensive margin—a quantitative victory for the Melitz framework. The remaining 50 percent on the intensive margin (exports per exporting firm) contradicts a special case of Melitz with Pareto-distributed firm productivity, which has become a tractable benchmark. This benchmark model predicts that, conditional on the fixed costs of exporting, all variation in exports across trading partners should occur on the extensive margin. We find that moving from a Pareto to a lognormal distribution allows the Melitz model to match the role of the intensive margin in the EDD. We use likelihood methods and the EDD to estimate a generalized Melitz model with a joint lognormal distribution for firm-level productivity, fixed costs and demand shifters, and use “exact hat algebra” to quantify the effects of a decline in trade costs on trade flows and welfare in the estimated model. The welfare effects turn out to be quite close to those in the standard Melitz-Pareto model when we choose the Pareto shape parameter to fit the average trade elasticity implied by our estimated Melitz-lognormal model, although there are significant differences regarding the effects on trade flows.

A Practical Guide to Trade Policy Analysis
A Practical Guide to Trade Policy Analysis

Author: Marc Bacchetta

Publisher:

Published: 2012

Total Pages: 0

ISBN-13: 9789287038128

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Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development

The Impact of Trade Agreements
The Impact of Trade Agreements

Author: Swarnali Ahmed Hannan

Publisher: International Monetary Fund

Published: 2016-09-23

Total Pages: 32

ISBN-13: 147554071X

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The Trans-Pacific Partnership (TPP) has reinvigorated research on the ex-ante impact of trade agreements. The results from these ex-ante models are subject to considerable uncertainties, and needs to be complimented by ex-post studies. The paper fills this gap in recent literature by employing synthetic control methods (SCM) – currently extremely popular in micro and macro studies – to understand the impact of trade agreements in the period 1983–1995 for 104 country pairs. The key advantage of using SCM to address selection bias – one of the persisting issues in trade literature – is that it allows the effect of unobserved confounder to vary with time, as opposed to traditional econometric methods that can deal with time-invariant unobserved country characteristics. Using SCM approach, the paper finds that trade agreements can generate substantial gains, on average an increase of exports by 80 percentage points over ten years. The export gains are higher when emerging markets have trade agreements with advanced markets. The paper shows that all the countries in NAFTA have substantially gained due to NAFTA. Finally, there is some evidence that trade agreements can potentially lead to slight import diversion, but not export diversion.

World Development Report 2020
World Development Report 2020

Author: World Bank

Publisher: World Bank Publications

Published: 2019-11-19

Total Pages: 545

ISBN-13: 1464814953

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Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.

Handbook of Computable General Equilibrium Modeling
Handbook of Computable General Equilibrium Modeling

Author: Peter B. Dixon

Publisher: Newnes

Published: 2013-01-08

Total Pages: 1886

ISBN-13: 044462631X

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Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. - Presents coherent summaries of CGE theories that inform major model types - Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results - Shows how CGE modeling has made a contribution to economic policy

The Collapse of Global Trade, Murky Protectionism, and the Crisis
The Collapse of Global Trade, Murky Protectionism, and the Crisis

Author: Richard E. Baldwin

Publisher:

Published: 2011-03

Total Pages: 112

ISBN-13: 9781907142239

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The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.

Model Rules of Professional Conduct
Model Rules of Professional Conduct

Author: American Bar Association. House of Delegates

Publisher: American Bar Association

Published: 2007

Total Pages: 216

ISBN-13: 9781590318737

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The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.