International Trade Balance Research Articles

A CANADIAN PERSPECTIVE OF THE ECONOMIC ISSUES ASSOCIATED WITH DEPLOYING THORIUM-BASED FUEL CYCLES AND BREEDING IN HEAVY-WATER REACTORS

To meet future global needs for energy and green technology, it is prudent to identify energy sources and technology that may potentially be economically beneficial. Thorium-based fuels with nuclear technology, such as the Canadian heavy-water reactor, have been proposed as a way to meet those global needs, though economic challenges persist in deploying thorium-based fuels. Therefore, economic strategies to overcome the economic challenges in deploying thorium-based fuels are needed. To identify potential strategies for advancing the deployment of thorium-based fuels, this paper conducts a historical examination of the economics of thorium fuel cycles to identify economic factors that can influence a country’s development of thorium-based fuel cycles. In particular, this paper reviews the economic issues associated with Canada’s experience in deploying thorium-based fuel cycles. The study finds that the existence of natural resources and the associated price, a nuclear fuel cycle’s costs, a country’s international trade balance position and economic growth policies, the profitability of the electrical power and nuclear industry, and the technical and economical characteristics of the nuclear reactor developed in a country may all influence the adoption of a thorium-based fuel cycle. Furthermore, recent advancements in developing thorium-based fuel cycles are suggested as a possible way of bridging the technical and economic gap between near-term and long-term implementation of thorium-based fuel cycles that may overcome current economic challenges.

국제 무역수지 변동성이 주가지수 변동성에 미치는 영향

국제 무역수지 변동성이 주가지수 변동성에 미치는 영향

The Effects of International Trade Balance Volatility on Stock Index Volatility

The Effects of International Trade Balance Volatility on Stock Index Volatility

Organisational innovation facilitators as drivers for international trade between China and European Union

This paper analyses the role of innovation policy and the main facilitators to promote China's international trade in the European Union. The theme Innovation Policy of China to potentiate their international trade in the European Union (EU), from 2014 to 2019. To undertake this, research was established the literature survey.The results show that regarding the research areas there is a multiplicity of themes, including Trade Policy, Digital Trade, International negotiations, Multilateral relations, Leadership, China – Politics & Government, Digital Trade Apps, International Trade, Trade Balance, and Goods balance. Also, the US–China trade war has consequences on the GTC because China, but also the EU and other countries are focussing their trade interest in other regions, especially consumers in Asia, Eurasia, Africa, and South America. For future studies, it is suggested to expand the search for articles concerning China and EU Trade on other databases.

Balance of payments and international trade

Balance of payments and international trade

The Influence of Trade Liberalization on International Trade Balance of Agricultural Commodities

The Influence of Trade Liberalization on International Trade Balance of Agricultural Commodities

Balance of payments and international trade

Balance of payments and international trade

Balance of payments and international trade

Balance of payments and international trade

Peculiarities of international economic relations of Ukraine and the EU

The peculiarities of international economic relations between Ukraine and the EU have been analyzed. Changes in foreign trade after the signing of the Association Agreement between Ukraine and the EU have been investigated, problems in trade between Ukraine and the EU have been identified, ways to overcome existing imbalances in trade in goods between Ukraine and the EU have been elaborated. The theoretical and methodological basis of the research are the fundamental positions of modern economic theory, scientific works of scientists, normative and legislative acts of Ukraine on foreign economic activity. In the course of the research, the following methods were used: economic and statistical (in the study of the state of international economic relations between Ukraine and the EU); graphic (for visual presentation of research results); analytical and structural-logical (in determining the directions of intensification of export of domestic enterprises, optimization of its structure within the framework of the current Association Agreement between Ukraine and the European Union). The paper uses a comprehensive approach to substantiate the prospects for Ukraine's integration into a single European market. The results of the study are aimed at solving the problem of overcoming the negative balance of international trade in goods with EU countries.

Balance of payments and international trade

Balance of payments and international trade

Balance of payments and international trade

Balance of payments and international trade

Forecasting the Volatility of Ethiopian Birr/Euro Exchange Rate Using Garch-Type Models

This paper provides a robust analysis of volatility forecasting of Euro-ETB exchange rate using weekly data spanning the period January 3, 2000–December 2, 2015. The forecasting performance of various GARCH-type models is investigated based on forecasting performance criteria such as MSE and MAE based tests, and alternative measures of realized volatility. To our knowledge, this is the first study that focuses on Euro-ETB exchange rate using high frequency data, and a range of econometric models and forecast performance criteria. The empirical results indicate that the Euro-ETB exchange rate series exhibits persistent volatility clustering over the study period. We document evidence that ARCH (8), GARCH (1, 1), EGARCH (1, 1) and GJR-GARCH (2, 2) models with normal distribution, student’s-t distribution and GED are the best in-sample estimation models in terms of the volatility behavior of the series. Amongst these models, GJR-GARCH (2, 2) and GARCH (1, 1) with students t-distribution are found to perform best in terms of one step-ahead forecasting based on realized volatility calculated from the underlying daily data and squared weekly first differenced of the logarithm of the series, respectively. A one-step-ahead forecasted conditional variance of weekly Euro-ETB exchange rate portrays large spikes around 2010 and it is evident that weekly Euro-ETB exchange rate are volatile. This large spikes indicates that devaluation of Ethiopian birr against the Euro. This volatility behavior may affects the International Foreign Investment and trade balance of the country. Therefore, GJR-GARCH (2, 2) with student’s t-distribution is the best model both interms of the stylized facts and forecasting performance of the volatility of Ethiopian Birr/Euro exchange rate among others.

An agency perspective of resilience: the case of Pomorskie region

ABSTRACTThis article starts with a discussion on four metaphors and four research fields of resilience. Special attention has been paid to the evolutionary approach of resilience and the agency perspective within it. Next, the author demonstrated a critical view of the concept including the role of state and social capital. Using a qualitative method of research, key determinants and policies which protected Poland, the only country which was protected in the European Union from recession, were identified. The identified determinants and policies are balance of international trade, weakening of the Polish currency, supporting competitiveness, countercyclical fiscal policy, conservative banking policy and flexible labour policy. The inflow of European funds and a high level of consumption have helped to overcome negative consequences of the crisis as well. The paper then includes a description of the structural aspects of Pomorskie region in Poland. Strategies for small businesses and those implemented on the labour market proved to be effective in short and medium spans. Also, diversification of economy and export, cost competitiveness, availability of patient capital, social capital and the role of human agents were found to be significant to response to the crisis and in the region’s resilience building.

Emergy Perspectives on the Environmental Performance and Sustainability of Small-Scale Gold Production Systems in Ghana

Small-scale gold mining is an important component of the Ghanaian economy but it has also caused enormous damage to local ecosystems. In this paper, an emergy analysis was conducted in Ghana to assess the environmental performance and the relative sustainability of two artisanal and small-scale gold production systems: alluvial “dig and wash” and underground “ghetto” mines. Results show that both production systems have high environmental impacts, as indicated by an environmental loading ratio (ELR) of 4.31 and environmental sustainability index (ESI) of 0.33 for the alluvial system and 2.53 and 0.52 for the underground system, respectively. Concerning the international trade balance, the emergy exchange ratios of the two systems are both lower than one, at, 0.23 and 0.33 for the alluvial and underground systems, respectively, indicating a significant amount of resource loss to foreign regions. This study could assist in the regulation of the small-scale mining sector bearing in mind the unsustainable nature of their activities. In addition, supporting miners to consider land rehabilitation ethics is urgently needed.

Assessment of competitiveness in Ukraine and its regions measured by indicators of international trade (based on the methodology of IMD, Lausanne)

The research paper reveals the importance of maintaining the international trade at the appropriate level in order to ensure high competitiveness of countries and regions. On the basis of the methods developed by experts of the International Institute for Management Development (IMD in Lausanne, Switzerland), the author has presented an original approach to assessment of the international trade as a factor of competitiveness of countries and their regions. The competitiveness of Ukraine and its regions is assessed through key indicators of the international trade (balance of payments, exports and imports of goods / services, national currency rate, etc.). The article offers strategies for enhancing the competitiveness of Ukraine and its regions by improving the international trade, particularly by maintaining a positive trade balance, increasing the import-export ratio, harmonizing national technical standards to international ones, developing international tourism, benefiting from accession to the WTO and Ukraine-EU Association Agreement.

Is Vietnam's exchange rate overvalued?

ABSTRACTThis paper focuses on Vietnam's exchange rate whose official rate has been pegged by the State Bank against the US dollar since 1989 despite wider market liberalisation over this time. Whether Vietnam's official exchange rate is appropriately valued has important implications for the economy's international competitiveness, trade balance and gross domestic product (GDP). The main aim of the paper is to assess whether the official exchange rate has been valued appropriately with reference to macroeconomic fundamentals, as proposed by the purchasing power parity and the behavioural equilibrium exchange rate approaches to evaluating equilibrium exchange rates. Our main empirical finding based on co-integration analysis using quarterly data from 1995 to 2014 is that according to both these approaches the Vietnamese Dong was significantly overvalued for extended times, most notably due to Vietnam's relatively high inflation rate.

Balance of payments and international trade

Balance of payments and international trade

The Big Question

The Big Question

Impact of Macroeconomic Announcements on US Equity Prices: 2009–2013

AbstractReturns of several US equity exchange‐traded funds on the days of major macroeconomic announcements are examined for the period of January 2009 to July 2013. The ARMA+GARCH model with external linear regression terms that describe announcement events and their surprises is used. It is found that mean daily returns may be notably higher on the announcement days than those for the buy‐and‐hold strategy, though their difference may be not statistically significant. The ISM Manufacturing Reports, Non‐Farm Payrolls, International Trade Balance, Index of Leading Indicators, Housing Starts, and Jobless Claims turn out to be the most statistically significant factors in the model. Three trading strategies that realize daily returns on the various macroeconomic announcement days are compared with the buy‐and‐hold strategy. The choice of announcements with statistically significant regression coefficients yields higher mean daily returns and better Sharpe ratios but possibly lower compound returns. Transaction costs may significantly affect profitability of these trading strategies. Copyright © 2015 John Wiley & Sons, Ltd.

Changes in the International Trade Balance of U.S. Hardwood Products from 1990 to 2013

We examine U.S. exports and imports of hardwood products from 1990 to 2013. These products include logs, lumber, veneer, chips, molding, cooperage, plywood, and flooring. The values of hardwood products exported and imported have fluctuated over the years but have generally increased. More substantial changes have occurred with the countries and regions receiving U.S. exports, as well as with those importing into the United States. The primary region receiving U.S. hardwood log and lumber in 1990 was Western Europe, but today, China is the most important market. East Asia has been the most important source region for U.S. hardwood plywood imports, but the specific sources have shifted from Indonesia and Taiwan in 1990 to China today. The overall balance of U.S. hardwood product trade has remained positive for most of the years examined, with the United States having a comparative advantage in exporting logs and lumber. In contrast, the United States has a comparative disadvantage in hardwood plywood exports.