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"TRADE EXPANSION"
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Remaking U.S. Trade Policy
The emergence of globalization was neither accidental nor inevitable. To make the \"free flow\" of commodities, capital, and money possible, governments first had to introduce a new political infrastructure. InRemaking U.S. Trade Policy, Nitsan Chorev focuses on trade liberalization in the United States from the 1930s to the present as she explores the political origins of today's global economy.
The ability of the U.S. government to impose its preferences on other governments is an important part of the story of globalization, but what is central to Chorev's analysis is understanding why the nation's leaders supported trade liberalization in the first place. For Chorev, the explanation lies in domestic political struggles. Advocates of free trade prevailed in the struggle with protectionists by working to change the institutions governing trade policy, replacing institutional arrangements that favored protectionism with new ones that favored a free-market approach.
The new institutional arrangements shifted authority from a protectionist Congress to liberal agencies at the executive branch and to the World Trade Organization. These transformations entailed a move from a politicized location, in which direct negotiations and debates dominate the process of decision-making, to bureaucratic and judicial arenas where a legal logic dominates and the citizens have little voice.
eBook
The Impact of Trade Openness on Carbon Emissions: Empirical Evidence from Emerging Countries
Emerging countries are the main source of new CO2 emissions and the major net carbon importers, and they have also become an important part of the global trade pattern. In this study, the impact of trade openness on CO2 emissions was investigated by approaches such as fully modified least squares (FMOLS), dynamic ordinary least squares (DOLS), and pooled mean group-autoregressive distributive lag (PMG-ARDL) methods. Further estimations were conducted by employing methods such as DCCEMG (dynamic common-correlated effect mean group) and Driscoll–Kray to strengthen the robustness of the results. Moreover, the Granger causality between trade openness and CO2 emissions was tested by using the Dumitrescu–Hurlin method. Conclusions can be drawn as follows: First, economic growth, energy consumption, trade openness, and CO2 emissions are all interconnected in the long term. Specifically, higher levels of economic growth and trade openness are associated with lower CO2 emissions, whereas energy consumption contributes to higher emissions. However, in the short term, economic growth and energy consumption lead to an increase in CO2 emissions, while trade openness does not have a significant impact. Moreover, there is a two-way Granger causality between trade openness and CO2 emissions. Additionally, economic growth and energy consumption have an indirect effect on CO2 emissions by influencing trade openness. Given these findings, emerging market countries should focus on enhancing their service sectors, promoting technological advancements, and fostering international collaboration in green technologies. By actively engaging in efforts to combat climate change, these countries reach a point where trade expansion and carbon reduction are achieved.
Journal Article
World Trade Indicators 2008
The World Bank's 'World Trade Indicators' (WTI) database on the CD-ROM in this volume provides more than 300 performance indicators measuring at-the-border and behind-the-border country trade policy, institutions, and outcomes from 1995 to 2007. The database allows each country to be ranked by any policy or performance dimension relative to others. Trade-at-a-Glance tables for the 210 countries in the database facilitate comparisons among countries in key areas. Complementing the rich database are Trade Briefs for 142 developing countries summarizing insights from the data and the main findings of analytical work conducted by the Word Bank, the International Monetary Fund, and the World Trade Organization for individual countries.The companion volume to the 'World Trade Indicators 2008' highlights the main patterns in policy and performance revealed by the database grouping countries by region or income. The 20 best and 20 worst country rankings for a number of indicators are shown. For country policy makers, trade negotiators, and advisors, this volume provides the rich context within which to interpret a single country's standing on various dimensions. Business people will gain new insights about the countries in which they and their competitors operate. Trade researchers will find tantalizing country stories on trade policy and institutional dimensions and trade outcomes.Country performance is benchmarked in five key areas: ? Border protection, such as tariffs and nontariff barriers on imports of goods and services ? Market access barriers in the rest of the world to exports of goods ? Overall business and institutional environment ? Trade facilitation ? Trade outcomes, such as trade growth, integration, and diversification.
eBook
Trade, economic growth, and transportation sustainability perspectives of the Gulf-Europe corridor in the GCC countries
The Gulf-Europe transportation project, also known as Iraq’s Development Road Project (DRP), is a transformative supply chain initiative aimed at constructing a corridor from Al Faw Port in Iraq to Turkey, linking Gulf Cooperation Council (GCC) countries with Europe. The project’s goal is to establish a robust transport corridor through the extensive construction of roads and railways, facilitating the fast and seamless movement of goods between the East and the West. By creating land-based direct transportation routes to complement traditional maritime pathways, the project seeks to reduce transit times, lower shipping costs, increase trade flows, and improve regional integration. This study qualitatively examines how the corridor will impact trade, the economy, and transportation sustainability in the Gulf nations. We explore potential increases in trade volumes, foreign investments, logistics sustainability, and economic diversification within the region. Additionally, we recommend the adoption of hydrogen fuel cell vehicles (HFCVs) and hydrogen-powered trains in the corridor to align with the United Nations Sustainable Development Goals (SDGs). Furthermore, we suggest that the corridor’s development will create opportunities for economic diversification and reduce the GCC countries' reliance on oil revenues. Finally, the study provides strategic recommendations for policymakers and stakeholders to maximize the project’s benefits and address potential challenges, emphasizing its potential to drive long-term economic growth and strengthen the GCC countries’ global trade positioning.
Journal Article
ASSESSING TRADE BENEFITS OF A TTIP AND THE ROLE OF REGIONAL TRADE FREE BLOCKS ON SOUTH CAROLINA AGRICULTURAL EXPORTS: A STATIC AND DYNAMIC GRAVITY MODEL APPROACH
This study provides an analysis of the effects of a potential transatlantic free trade agreement (TTIP) on the US state of South Carolina agricultural exports and trade. Trade benefits are evaluated within the framework of static and dynamic gravity models. The panel gravity models and probit equations that account for zero trades are estimated by methods that deal with various effects. The results show that dynamic system GMM is the preferred estimator. World country panel trade data from 1989 to 2018 were used. The findings reveal that the TTIP would increase South Carolina agricultural among member countries. The other major regional blocks including the EU, ASE4N, and MERCOSUR are shown to be significant destination markets for South Carolina agricultural and exports and trade.
Journal Article
From disintegration to reintegration : Eastern Europe and the former Soviet Union in international trade
As the world marketplace becomes ever more globalized, much is at stake for the prosperity of hundreds of millions of people in Europe and Central Asia as the regions transition process continues through its second decade. Understanding the underlying dynamics shaping the contours and most salient impacts of international integration that have emergedand likely to emerge prospectivelyin the region is thus a crucial challenge for the medium term economic development agenda, not only for policymakers in the countries on themselves, but also for their trading partners, the international financial institutions, the donor community and the future of the world trading system as a whole. This book addresses this challenge.
eBook
Enhancing regional trade integration in Southeast Europe
Countries of the Southeast Europe (SEE) region have witnessed significant economic improvement since the beginning of their transition to market economies in the early 1990s. Growth has been particularly strong in the past six years, but still lower than in other fast growing countries in the East Asia and Baltic regions, or some of the other new member states of the European Union (EU). The purpose of this study is twofold: (i) to present recent trends in intra regional trade in SEE, in particular following the implementation of Central European Free Trade Agreement (CEFTA); and (ii) to bring the attention of policy makers to some of the remaining impediments to enhanced intra regional trade. The rest of the study is organized as follows. Chapter two describes intraregional trade patterns, both prior and after the entry of CEFTA into force, including more detailed analysis of trade structure. Chapter three emphasizes the role of nontariff barriers (NTBs), such as technical regulations and standards, and their potential impact on trade enhancement, as well as the importance of the trade related environment drawing on global surveys and reports (doing business, Business Environment and Enterprise Performance Survey (BEEPS), logistics performance indicator, and the enabling trade index). It also looks at rules of origin and their role in trade creation. Chapter four aims to present the view of the private sector on CEFTA and on trade related reforms in general through two case studies of regional firms. Finally, chapter five concludes by summarizing the key recommendations of the study.
eBook
Trade Openness and Volatility
This paper examines the mechanisms through which output volatility is related to trade openness using an industry-level panel dataset of manufacturing production and trade. The main results are threefold. First, sectors more open to international trade are more volatile. Second, trade is accompanied by increased specialization. Third, sectors that are more open are less correlated with the rest of the economy. The point estimates indicate that each of the three effects has an appreciable impact on aggregate volatility. Added together they imply that the relationship between trade openness and overall volatility is positive and economically significant.
eBook