Export Economy Research Articles

Research on the Risk Measurement Algorithm of Supply Chain Order Financing Based on Insurance Actuarial

In today’s globalized economy, all the links of supply chain are interlinked. Most of the upstream raw material manufacturers or producers in the said chain are small- and medium-sized enterprises (SMEs) that provide the basis for the efficient operation of the whole supply chain. However, SMEs in China, especially those playing a pivotal role in China’s export-oriented economy at this stage, do not have access to the corresponding financial treatment. Supply chain finance provides a new perspective to solve this contradiction. Henceforth, this paper introduces modern financial engineering risk measurement tools to measure the financial risk in supply chain finance, specifically while evaluating the single financing business. Moreover, the chief objective of this paper will be the analysis of the characteristics and connotations of order financing business model. In addition, the focus will be to analyze the risk of order financing from the perspective of banks and other financial institutions. Additionally, this paper will use the CreditRisk + model based on insurance actuarial principles to manage credit risk in order financing business based on foreign currency settlement, in conjunction with the characteristics of supply chain finance and multinational supply chain. Furthermore, a risk measurement method for the application of order financing in multinational supply chains will be provided. Ultimately, the experiments show that the solution of this paper defines and analyzes the financial risks brought by order financing business to bank financing.

Emerging agricultural expansion in northern regions: Insights from land-use research

Emerging agricultural expansion in northern regions: Insights from land-use research

How Strong is Local Politics' Grip on Local Economic Development? The Case of Swiss Small and Medium-Sized Towns.

Economic development directly manifests itself in the form of employment at the local level. This paper examines the ability of local politics to shape this development in a competitive federalist environment by examining how local party-political developments affect local economic development in Swiss small and medium-sized towns (SMSTs). Local economic development in the form of employment is a central local policy domain in federal and polycentric Switzerland. This paper argues that party-political influence is conditional on the characteristics of four distinguished economic sectors that differ in their dependence on the regional context. By analyzing the panel data of all Swiss SMSTs, the paper finds that local party-political developments only systematically precede growth in the residential economy, while regional processes determine the economic sectors in ambiguous ways. The grip of local politics on the development of export-oriented economies therefore is not guided by party-political development and more influential at regional levels.

Internet of things-based automation design and organizational innovation of manufacturing enterprises

The Internet of Things (IoT) foresaw a transparent network between the real and virtual worlds. IoT offers a promising potential to develop strong market and industrial applications. The export-oriented economy of industrial manufacturers relies on product and service creativity to retain a competitive advantage. The IoT-based applications of innovative manufacturing companies (IOTs), where most companies are involved and engaged in many of the case IoT-based applications, is motivated by computing capacity, networking, cost reduction and electronic components. A common motive is the Internet of Things applications and the improvement of after-sales service activities. The suggested Linear Product Design Regression (LPDR) algorithm classifies business product innovation design based on consumer input to support business development. Businesses, companies and the technology industry: the inhibitors hinder the development of the four IT applications. IoT offers one of the latest innovations in manufacturing to allow us to meet key challenges. The product design and development engineering are engaged in utilizing the Internet of Things (IoT) to create comprehensive policies and policy creation for manufacturing companies.To support business development. Businesses, companies and the technology industry: the inhibitors hinder the development of the four IT applications. To allow us to meet key challenges and to create comprehensive policies and policy creation for manufacturing companies.

From the Grounds Up: Building an Export Economy in Southern Mexico

From the Grounds Up: Building an Export Economy in Southern Mexico

Dominant-currency pricing and the global output spillovers from US dollar appreciation

We test for the empirical relevance of partial and asymmetric dominant-currency pricing (DCP), the hypothesis that large but not necessarily identical shares of economies’ export and import prices are sticky in US dollar. We first set up a structural three-country New Keynesian dynamic stochastic general equilibrium model which nests DCP, producer-currency pricing and local-currency pricing. Under partial and asymmetric DCP, the output spillovers from shocks that appreciate the US dollar decline with an economy's export-import US dollar pricing share differential, i.e. the difference between the share of an economy's export and import prices that are sticky in US dollar. Underlying this prediction is variation in an economy's net exports in response to US dollar appreciation that arises because the shares of export and import prices that are sticky in US dollar are different. We then provide evidence that this prediction from partial and asymmetric DCP is consistent with the data in a sample of up to 45 advanced and emerging market economies for the time period from 1995 to 2018. We moreover document that our findings are robust to considering US demand, US monetary policy and exogenous exchange rate shocks as a trigger of US dollar appreciation, zooming in on the responses of economies’ exports and imports, as well as to accounting for the role of commodity trade in US dollar invoicing.

Optimizing the multiple trip vehicle routing plan for a licensee green tea dealer in Sri Lanka

PurposeThis research is designed to optimize the business process of a green tea dealer, who is a key supply chain partner of the Sri Lankan tea industry. The most appropriate trips for each vehicle in multiple trip routing systems are identified to minimize the total cost by considering the traveling distance.Design/methodology/approachThe study has followed the concepts in vehicle routing problems and mixed-integer programming mathematical techniques. The model was coded with the Python programming language and was solved with the CPLEX Optimization solver version 12.10. In total, 20 data instances were used from the subjected green tea dealer for the validation of the model.FindingsThe result of the numerical experiment showed the ability to access supply over the full capacity of the available fleet. The model achieved optimal traveling distance for all the instances, with the capability of saving 17% of daily transpiration cost as an average.Research limitations/implicationsThis study contributes to the three index mixed-integer programing model formulation through in-depth analysis and combination of several extensions of vehicle routing problem.Practical implicationsThis study contributes to the three index mixed-integer programming model formulation through in-depth analysis and combination of several extensions of the vehicle routing problem.Social implicationsThe proposed model provides a cost-effective optimal routing plan to the green tea dealer, which satisfies all the practical situations by following the multiple trip vehicle routing problems. Licensee green tea dealer is able to have an optimal fleet size, which is always less than the original fleet size. Elimination of a vehicle from the fleet has the capability of reducing the workforce. Hence, this provides managerial implication for the optimal fleet sizing and route designing.Originality/valueDeveloping an optimization model for a tea dealer in Sri Lankan context is important, as this a complex real world case which has a significant importance in export economy of the country and which has not been analyzed or optimized through any previous research effort.

COVID-19, trade policy and agriculture in New Zealand: from ‘environmental vandals’ to ‘economic heroes’?

ABSTRACT The COVID-19 pandemic has upended global trade. Production patterns have shifted, with widely publicised impacts on supply chains and a stark reduction in the trade in services that involve the movement of people, such as travel and tourism. While the global economy faltered and New Zealand’s services trade all but evaporated, the country’s agricultural exports remained robust. How has this strong performance in the face of adverse conditions shaped the public depiction of agricultural producers, who had previously faced a change in government and growing public criticism around agriculture’s environmental impact? I expect the export performance of agricultural producers to have resulted in a more positive public depiction. Quantitative text analysis of news media data supports this view. The average sentiment in news media about agriculture has improved over the course of the pandemic. This is not just a product of cheery reporting about export performance: I report a positive trend for articles relating to agriculture and the environment, the very issue that has been most contentious in recent years. COVID-19 has seemed an unexpected boon for agricultural producers, the public depiction of whom has been strengthened on the back of their contributions to New Zealand’s export economy.

Provincial nitrogen footprints highlight variability in drivers of reactive nitrogen emissions in Canada

Nitrogen (N) footprints are one method to quantify consumer driven reactive nitrogen (Nr) emissions. Canada is a highly urbanized yet economically natural resource-dependent country, providing an illustrative case study to examine attribution of Nr emissions to per capita consumption, either domestically or abroad. Yet, considered only at the national scale, N footprints may obscure absolute and relative contributions of local drivers to Nr emissions. We apply a top-down N footprint approach drawing from national N budgets, emissions inventories, and agricultural statistics to estimate sub-national (provincial) drivers of Nr emissions across Canada. We calculate per capita provincial Nr footprints from four primary sectors in 2018: (a) crop production, (b) animal production, (c) wastewater treatment, and (d) fossil fuel burning. We estimate that Canada’s total N footprint is 995.7 Gg Nr yr−1, which equates to an average per capita footprint nationally of 27.1 kg Nr capita−1 yr−1. The largest national contributions come from a few key (sub)sectors, including transport, beef consumption, and wastewater treatment. Provincial per capita N footprints vary widely, with the largest (Saskatchewan 50.3 kg Nr cap−1 yr−1) more than double the smallest (Ontario 22.0 kg Nr cap−1 yr−1). Most variation across provinces is due to the fossil fuels sector, including emissions from energy generation and the oil and gas industry. We therefore compare our top-down approach for the fossil fuels sector with bottom-up N footprints and territorial emissions methodologies. Per capita N emissions vary considerably across these approaches. For example, Alberta’s per-capita fossil fuel Nr emissions are 45.9, 23.0, and 6.3 kg Nr cap−1 yr−1 using territorial, top-down and bottom-up footprint approaches, respectively. This analysis demonstrates the challenges of attributing Nr emission for export-oriented economies. Our study provides novel insights on sub-national drivers of Nr emissions, emphasizing the need to consider how heterogeneous geographic contexts contribute to national N footprints.

INNOVATIVE DEVELOPMENT IN THE CONDITIONS OF EXPORT-ORIENTED AND IMPORT-SUBSTITUTING MODELS OF INDUSTRIALIZATION

Topicality. The actuality of problem is due to the need to reorient the economy of Ukraine to innovative development and change in this regard, the model of economic policy.Aim and tasks. The aim of the study is to determine and compare the relative costs of research and development in connection with the relative values of gross fixed capital formation and costs of machinery and equipment in parity for countries that implement import-substituting and export-oriented industrialization to justify the most effective model innovative economic policy.Research results. The studied economic indicators are calculated on the basis of the purchasing power parity of the currency (PPP). Calculations of the volume and structure of accumulation in parity indicators show certain patterns. The most important of them is the gap between the values of the gross fixed capital formation and its most important part – the cost of machinery and equipment, calculated in national currency and per PPP. Moreover, such a gap in the countries of export-oriented industrialization is small, while in the countries of import-substituting industrialization and in Ukraine, as an export-oriented economy, it is very significant. The general pattern is a higher share of accumulation in GDP in settlements in the national currency than in settlements in PPP. As a result, the calculations of the gross fixed capital formation and the cost of machinery and equipment in the national currency create an unreasonably optimistic view of the prospects for innovative economic development. It is of scientific interest to compare the structure of accumulation in the countries of export-oriented industrialization, import-substituting industrialization, and in Ukraine as an export-oriented economy. Thus, the share of accumulation as a part of GDP per capita in the countries of export-oriented industrialization is maintained at 22-42%, and the cost of machinery and equipment – at 4-8%. Approximately the same indicators remain in the calculations in the national currency. In the countries of import-substituting industrialization, the share of accumulation as a share of GDP per capita is maintained at 11-23%, and the cost of machinery and equipment – at 2-5%. Ukraine's economy, if the calculations are made in the national currency, shows a structure of accumulation close enough to that of import-substituting industrialization. However, according to the PPP, its economy provides a much smaller share of GNP and machinery and equipment in GDP – 9-13% and 2-3%, respectively.Conclusion. Distortion of accumulation indicators is associated with a significant deviation of the official exchange rate of the national currency from its purchasing power parity. The small scale of accumulation calculated in parity indicators characterizes the narrow base for research and development and the small potential for their introduction into production.

Charles W. Bergquist (1942–2020)

Charles W. Bergquist (1942–2020)

Competitiveness and export development strategy for Indonesia's creative economy sector in the ASEAN market

The main objectives of this study are (1) to analyze the competitiveness of Indonesian exports in the ASEAN market (2) to formulate a strategy that will be able to support the export competitiveness of Indonesia's creative economy. Revealed Comparative Advantage, Acceleration Ratio, Export Competitiveness Index, and SWOT analysis (to determine a creative economy export development strategy using quantitative) were used as analysis tools. This study focused on examining the subsectors of architecture, movies, animation and video, craft, culinary, music, fashion, publishing, and art. Based on the results, we conclude that all subsectors have export competitiveness in the ASEAN market. Among them, craft and culinary appear as subsectors with strong competitiveness and meet all the analysis criteria. The results also show that SO strategy (growth) could be chosen to develop the creative economy.

Impact of Institutional Quality on Bilateral Exports: Exploring the role of Development

This study uses the gravity model to analyze the homogeneous and heterogeneous effect of institutional quality and development on bilateral exports. We use the panel data of 61countries for the period 2000 to 2016 and employ the Poisson Pseudo Maximum Liklihood (PPML) econometric technique with a High-Dimensional fixed effect (HDFE) for an estimation that allows the analysis in the presence of high dimensional fixed effects. The findings reveal that the direct effect of institutional quality and level of development on bilateral exports is positive and significant. Further, the institutional quality and the level of development of the exporter country have more impact on bilateral exports than that of the importer country. Our estimation results of homogeneity of institutions show that when both trading countries share the same level of institutional quality, it boosts the bilateral exports. The major finding of this study reveals that the interaction effect of institutional quality and level of development on bilateral exports is positive and significant. High value of interaction term of exporter economy and low value of importer country suggest that interaction effect of institutional quality and level of development on bilateral exports of exporter country have a greater impact than the interaction effect of institutional quality and level of development of importer country due to having the more production and exports facilities in exporter country. Based on the findings, some essential policies are also recommended, followed by some future research gaps.

Fiscal foresighting: analysis of researches

In the context of the rapid technology development and globalization transformations, predicting changes in the economy, which affect fiscal system, is extremely relevant. Therefore, fiscal foresight as a mean of predicting a fiscal policy development in the long run is becoming an integral part of tax policy and economic development elaboration in many countries of the world. The objective of the paper is to analyse theoretical aspects of fiscal foresight, as well as foreign and national experience in fiscal foresights’ preparation to identify long-term factors and indicators that will have a significant impact (both positive and negative) on a fiscal system in a distant future. It was established that fiscal foresighting is a process of collecting data on the future to assess long-term prospects for the stability of tax revenues and budget expenditures in the face of changes in macroeconomic and other factors affecting the national economy. The main components of fiscal foresighting are identifying and monitoring trends, scanning and monitoring the time horizon, identifying risks and problems, and developing scenarios. Analysis of foreign fiscal foresights has shown that they become the basis for the development of shorter-term plans for the advance of fiscal systems, pointing out the main directions of fiscal policy, risks and barriers to achieving the goals. However, conducting an interstate analysis of a fiscal foresight remains problematic. This is due to the fact, that there is no single methodology for preparing fiscal foresights, countries choose different research horizons and update periods. It was defined that the basis for the goal-setting of national fiscal foresights was taken: reducing the level of income and welfare inequality, fighting against tax evasion, the transition to a "green" economy, promoting the digital development, stabilizing the socio-demographic condition with an unambiguous conclusion about the need to make adjustments to a national tax system. Countries have chosen as the main long-term fiscal policy actions: "rebalancing" the tax structure from direct taxes on labour and capital to indirect taxes on consumption and taxes on property and resource use; the transition from models based on ownership/sales to models based on the use of assets/goods/services; the introduction of new taxes, changes in rates, etc., the use of digital technologies in the tax payment and administration processes. The analysis of the socio-economic situation in Ukraine was carried out in order to identify factors that are critical in the development of the main vectors for the advance of the country's fiscal system in the future. These are recognized as: demographic and social changes, "depletion" of demand in the face of increased competition and the dependence of the export-oriented economy on the international environment and turbulence in the international economy, income inequality, digitalization, tax evasion, environmental degradation. Based on the results of the analysis of the "National Economic Strategy for the Period up to 2030", it was established that the actions indicated in the Strategy can become the initial data for the development of the first national fiscal foresight as a basis for assessing the long-term sustainability of the current fiscal system , identifying opportunities and risks of transformations of the fiscal policy of Ukraine under the influence of megatrends and intrastate changes associated with the peculiarities of the country's socio-economic development.

India’s Foreign Trade – An Overview

Export-Play, Important Role of any country’s business India is one among these countries that have been exporting a large number of product and raw material to other countries to earn economy wealth. India is 19th largest export economy. India’s overall, export- in 2019-20 was US $ 313138.5 million and total import was US $ 473995.2 million and trade balance was US $ 160856.7 million. The main object of the paper is to analyse the structural change in foreign trade- Under new Exim policy. The period of the study is from 2010-11 to 2019-20. The result shows that USA, UAE, Hongkong, UK, Germany, Saudi Arbia and China accounted from more than 40% of export from India at the world level. India total export which was US $ 330078.1 million in the year 2018-19 decline to US $ 313138.5 million in the year 2019-20. The total export from India decreased by 5.13% from the year 2018-19 to year 2019-20. In the year 2019-20 the share in total export from India to USA is 16.95%, UAE 9.21%, China 5.30%, Hongkong 3.50%, UK 2.79%, Germany 2.64%, and Saudi Arbia 1.99%. India’s total import in the year 2019-20 was US $ 473995.2 million which China contributed by 37.76%, USA 7.52%, Saudi Ariba 3.60%, Hongkong 3.5%, UAE .38% and Germany 2.81%,. The result show that USA is most important trading partner followed by UAE an UK, Hongkong, China and other countries.

Soil carbon density can increase when Australian savanna is converted to pasture, but may not change under intense cropping systems

Savanna regions are increasingly developed for agriculture to support population growth, food demand and export economies. This is driving interest in the conversion of natural savanna to cattle grazed pastures or horticultural crops in Northern Australia. Savanna clearing leads to aboveground carbon (C) loss but impacts below-ground are less certain as studies have focused on high rainfall regions, low reactive clay soils and shallow depths of 0.3 m or less.To examine impact of land use change (LUC) in Northern Australia, we sampled the upper 1.0 m soil profile of: 1) savanna woodlands, 2) old and young C4 perennial cattle grazed pastures and 3) old and young, melon-sorghum rotation fields. Soil C concentrations and soil bulk density in the upper 0.3 m were significantly greater in cattle grazed pastures than savanna woodland, such that savanna to pasture LUC significantly increased soil C density from 30.2 ± 1.5–43.4 ± 3.0 Mg C ha-1 over 28 years. Soil bulk density in the upper 0.7 m of savanna woodland was significantly less than that in the melon-sorghum rotations. In contrast, soil C concentrations below 0.5 m were significantly greater in the savanna woodland than in the 3 y.o. melon-sorghum rotation fields. There was no significant difference in soil C density between savanna woodland and 12 y.o. melon-sorghum rotations. This may relate to the beneficial effects of ploughing in sorghum as a green manure, or simply that the decrease in soil C concentration was offset by increased soil C density in the upper layers of soil where most C is located. In contrast, conversion of savanna to cattle grazed pasture sites is equivalent to a soil sequestration rate of 0.34 Mg C ha-1 y-1, approximately 50% of the observed net ecosystem productivity estimated using eddy covariance methods. Changing the depth to which soil C density was estimated changed significant differences amongst land-use systems. Whereas, estimating soil C density using a ‘fixed depth’ or ‘equivalent mass’ method did not change the statistical significance.There is an increasing focus on the potential of soil carbon sequestration especially in north Australia and understanding potential change and impact of accounting methods is essential for meaningful policy development. Policy settings to maintain, or improve, soil C storage and soil health may contradict agricultural development goals.

The Role of Technology and Investment in the Business Sector in Driving Net Exports and Economic Growth

This study examines the role of technology and investment in the business sector in driving net exports and economic growth. This study uses secondary data from world banks to process regression using the moving average autoregression method. When the government focuses on directing the export-oriented Indonesian economy by increasing investment in the business sector and investment in the development of supporting technology for an export-oriented economy will result in integration between the business, technology and international trade sectors that will encourage net exports and export-based economic growth with a fluctuating economic growth trend following global economic conditions. However, despite this economic growth is positive.

Concessionary Agreement as a Tool for Performing Innovative Activities by Electric Power Companies

The electrical power sector is a social and strategical significant economic area which provides all sectors of the economy and the population with electric power resources. Currently, the industry is characterized by a high level of worn-out fixed assets and an ever-increasing technical and technological backlog. The innovative development way is crucial for the electric power industry. It ensures the use of alternative energy sources, improves quality and reliability of power supply. In order to move the country from the export economy to the resource-innovative one, the interaction between the government and private electric power companies is required. The author has developed a concessionary mechanism based on public-private partnerships, contributing to innovative activities of electric power companies. The article provides a diagram of the procedure for concluding a concessionary agreement for performing innovative activities in the electric power industry. It allows us to study a competition procedure. The purpose of the concessionary mechanism is to achieve social and economic effects of investment and innovation processes in the electric power.

Bulgarian economy as a producer of intermediate goods for the European Union

Relevance of research topic. In conditions of globalization, the economic development of a country depends a lot on its relations with the rest of the world. When using economic indicators, including the "foreign trade balance" one, their correct interpretation is of particular importance. Formulation of the problem. The research interest should be focused not only on the volume of exports and imports in monetary terms, but also on its structure. It is a question of what production (goods and services) the Bulgarian economy exports (respectively imports), as well as where it exports (from where the Bulgarian economy imports). Setting the task, the purpose of the study. This report aims to present the Bulgarian economy in its role of producer and supplier of intermediate products for the countries of the European Union. Method or methodology for conducting research. The study is based on the use of the input-output model and in particular the symmetric input-output tables provided by the World Input-Output Database. Presentation of the main material (results of work). This report presents the results of the study of volume and structure of exports of the Bulgarian economy as a producer and supplier of intermediate goods, directed to the countries of the European Union. The interactions with the following countries were analyzed: Austria, Belgium, Germany, Denmark, Spain, France, Great Britain, Greece, Italy, the Netherlands, Poland, and Romania. Some of the member states of the European Union are not included. The reason for this is the lack of interactions between them and the Bulgarian economy, based on the provision of intermediate products. Conclusions according to the article. The study presents only one aspect of the foreign economic relations that take place between Bulgaria and the European Union. For the most part, the relations between Bulgaria and the other economies in the European Union are based mainly on industries related to the supply of resources. Services and products with a final degree of readiness are provided to a much lesser extent.

Efe Can Gürcan and Berk Mete, Neoliberalism and the Changing Face of Unionism: The Combined and Uneven Development Class Capacities in Turkey

Reviewed by: Neoliberalism and the Changing Face of Unionism: The Combined and Uneven Development Class Capacities in Turkey by Efe Can Gürcan and Berk Mete H. Deniz Sert Efe Can Gürcan and Berk Mete. Neoliberalism and the Changing Face of Unionism: The Combined and Uneven Development Class Capacities in Turkey. Cham: Palgrave Macmillan, 2017. 164 pp. + xiii. Cloth, $109.99. ISBN: ISBN 978-3319482835. This book aims to explain the actual conditions of Turkey's workforce and their institutional organizations within the context of certain neoliberal political and economic developments. Chapter 1 lays out the main scope of the book that focuses on the peculiarities of Turkey's labor movement's economic and political integration into the neoliberal capitalist accumulation since the 1980s (pp. 2–3). The authors provide a detailed overview of the chapters beginning with the theoretical specifications, periodization of the integration process of Turkey into the world capitalism from a structurally weak position. Next they mention the methodological choices and the empirical ground of this study. They provide a detailed list of semi-structured interviews conducted with the representatives of traditionally combative trade and the social unions in Turkey (pp. 8–9). The authors give a sketch of the collective struggles during neoliberal times both in the Global North and South to show that class as a social category still appeals to scholarly attention. In the last section, they substantiate the prevalence of class-centric focus in Turkey's neoliberalization experience, the prominent working-class firm-level struggles, and popular insurgencies are overviewed. Chapter 2 contains the theoretical backbone of the book. The authors refer to Leon Trotsky's concepts of combined and uneven development for providing an analysis of Turkey's peculiar process of class formation and articulation to the world capitalist accumulation. The concept of combined development aims to explain the synchronized and strongly bounded integration of particular [End Page 278] countries into global capitalism. The unevenness segment of the framework deals with the assumption that the countries' economic path is set against each other and allows privileges for some and impediments for others. The defining feature is to emphasize a peculiar capitalist development wherein backward elements and modern factors coexist. For analyzing the working class within the country's economic performance, the authors use Erik Olin Wright's concepts of working-class and organizational capacities. Within the combined and uneven development processes, the authors argue that small-scale firm-level concentration of the workforce, geographical discrepancies, welfare policies, privatization, subcontracting, ethnic and religious fragmentations within the working class serve as an impediment both for the structural and organizational class capacities. The last section of the chapter is devoted to the detailed review of the period starting from Turkey's nation-state formation until the implementation of the import-substitution economic agenda. The authors argue that the impact of the World Wars and alignment with the United States in international politics influence domestic political-economic outcomes that created an impediment to the working class's organizational and structural capacities. Chapter 3 discusses the end of the import-substitution policies that had to be terminated due to the foreign currency shortage and limitations on Turkey's domestic markets. The transition to trade liberalization and the export-oriented economy triggered initial neoliberal restructuring to become possible with military intervention. There has been an exponential growth of export-oriented industries, and the share of exports in the GDP led to a rise in low-skilled, subcontracted, and non-unionized labor in these sectors. The economic crises in 1994 and 2001 were a watershed for the Turkish economy, and their aftermath resulted in harsh wage reductions and further de-unionization for the workforce. The second part of the third chapter deals with the political and economic impacts of the post-2001 period. The three legal ramifications in the labor law deepened flexibilization, subcontracting and curtailment of the right to organize for the working class. Post-2001 is a period when traditional labor unions took a pro-government stance and saw the burgeoning of new government-affiliated trade unions both in the private and public sectors. The privatization of public enterprises also gained pace and resulted in massive...