Dynamics Of International Trade Research Articles

Economic Value of Endangered Languages

In a world where more than half of the 6,500 languages are under the threat of extinction, this paper challenges the conventional view that language preservation lacks concrete economic benefits. Investigating the intricate relationships between monolingualism, cultural identity, and economic dynamics, it illuminates the diverse values that languages contribute to our global heritage. From communicative and emotional to ecological and scientific perspectives, the paper unveils the interconnectedness of linguistic diversity with biodiversity, influencing conservation efforts and ecological equilibrium. Case studies illustrate the economic implications of language loss in sectors like medicine, where traditional knowledge guides pharmaceutical development. Beyond direct monetary considerations, the exploration underscores the unexpected role of language in business, influencing international trade, collaboration, and workplace dynamics. Advocating for the economic value of investing in language resources, the article urges decision-makers to recognize the economic dimensions of endangered languages. The conclusion calls for a shift in perspective, positioning languages not merely as cultural assets but as vital economic factors. It encourages the integration of language preservation into national and international policies to safeguard global linguistic diversity.

Achieving carbon neutrality in an emerging oil-producing country: Renewable energy transition and international trade flows in Ghana

Over the past decade, climate variabilities have emerged as shaping the dynamics of international trade. The adverse externalities posed by climate change require a corresponding improvement in the production of food, trade and the adoption of abundant renewable energy resources. Our study focused on evaluating the impact of renewable energy transition on international trade flows in Ghana. We employed the dynamics ARDL simulation model to analyse our results using data from various institutions. We found that energy transition using both low carbon energy and renewable energy in electricity generation by 1% and 5% significantly increases the balance of trade to the 4th year after which energy transition decreases the balance of trade to the 9th year. After the 9th year, energy transition by both percentages increases the trade balance of Ghana. We observe that the energy transition by 5% has a higher impact than the energy transition by 1%. Additionally, it is observed that using the share of renewable energy in electricity generation has a decreasing rate relative to the first four years. Drafting renewable energy plans such as allocation of funds, supportive policy frameworks and incentives such as green financing, subsidies, and tax incentives can enhance and develop renewable energy infrastructure to increase renewable energy efficiency and reliability for international trade.

Interrelations between logistics, trade, and law in the Incoterms® context

This study uses a comprehensive bibliometric analysis to examine the relationships between the International Commercial Terms (Incoterms®), logistics, and legal issues in the context of international trade. By examining a dataset of 290 documents published from 1973 to 2023 in various academic databases such as Web of Science, Google Scholar, Science Direct, among others, the research aims to identify trends, key issues, and potential future directions in this interdisciplinary field. The analysis reveals a significant increase in publications since 2010, with a focus on topics such as legal and contractual issues, supply chain management, risk mitigation, and the evolution of Incoterms® rules. Co-occurrence analysis emphasizes six distinct clusters, ranging from international trade dynamics and transaction costs to regulatory frameworks and risk management. The abstract content analysis further highlights the interconnectedness of legal, logistical and implementation issues. The study also identifies the United Kingdom, the United States, and South Korea as the most important countries contributing to the field. It is concluded that Incoterms® and its multidisciplinary essence generates a greater interest in the international trade, not only because of its incidence in diverse fields of management; but also, because these rules are updated to regulate better the business transactions. The findings provide valuable insights for researchers, policymakers, and practitioners, and show the importance of considering the multifaceted nature of Incoterms® research and its impact on global trade practices.

Potential Asymmetries in the International trade and Economic Growth in China: The Role of Emission Intensity

<p class="MsoNormal" style="margin-top: 10pt; line-height: 12pt; text-align: justify;"><span lang="EN-US" style="font-family: 'times new roman', times, serif; font-size: 14pt;">This study delves into the complex relationship between China's international trade and economic growth, specifically focusing on emission intensity and its environmental ramifications within the context of energy efficiency. The primary objective is to provide a comprehensive understanding of how China's international trade dynamics influence economic growth, emphasizing emission intensity and employing a model that considers the nonlinear impact of trade on output. Through this model, structural breakpoints are identified, revealing distinct outcomes for China amidst positive and negative shocks from 1972 to 2021. The study uncovers the dual nature of the energy sector, acting both as a source of environmental degradation and a potential avenue for positive change through increased efficiency. Complex interplays among economic activities, inflation, and investment on carbon intensity are revealed. Additionally, the varying effects of export volume on carbon emissions intensity across lag thresholds underscore the significance of global trade dynamics for environmental sustainability. The study concludes by emphasizing the importance of balancing economic prosperity with environmental responsibility, advocating for carefully balanced policies that foster sustainable growth. Recommendations include considering the dual nature of the energy sector and implementing policies promoting increased efficiency. Policymakers are urged to adopt growth models prioritizing environmental responsibility, balancing economic activities, inflation, and investment to mitigate carbon intensity while acknowledging the diverse effects of global trade dynamics on environmental sustainability.</span></p>

Анализ уровня структурной сопротивляемости экономики РФ в условиях неопротекционизма

The 21st century has witnessed a pronounced intensification of competition among global economic leaders and contenders for their positions. This fact has become one of the drivers behind the proliferation of trade wars. Amidst the fragmentation of the global geo-economic space and the onset of a new wave of innovation, the diminishing effectiveness of traditional protective measures becomes evident. In these realities, existing forms of hidden protectionism are being transformed into a legalized version of neo-protectionism. The catalyst for the change in protective mechanisms is the process of legitimizing covert protectionism and the establishment of a system of secondary and tertiary sanctions. The formation of the neo-protectionist system occurs on two planes: on one hand, there is the pursuit of protecting the hegemon’s positions by restraining the economic development of immediate competitors, while on the other hand, countries aspiring to leadership seek ways to counteract through the initiation of countermeasures. In the face of mounting neo-protectionist pressures, ensuring sufficient resilience of the country’s economic system becomes an extremely important task. To assess the level of resilience of the Russian economy, the author’s methodology is proposed. This article applies this methodology, exemplified by the structural component of Russia’s economic sovereignty during the period from 2015 to 2021, identifying potential leverage points for enhancing resilience in the context of structural sovereignty. In conclusion, the analysis underscores the imperative of fortifying the structural resilience of the Russian economy amidst the challenges posed by neo-protectionism. By employing innovative methodologies and strategic foresight, policymakers can identify and address vulnerabilities, thereby enhancing the nation’s capacity to withstand external pressures and navigate turbulent global economic currents. As Russia continues to adapt to the evolving landscape of international trade dynamics, fostering resilience at the structural level remains paramount for ensuring sustained economic stability and sovereignty.

ANALYSIS OF INTERNATIONAL TRADE IN INDIA POST COVID-19

Amidst the unprecedented challenges posed by the COVID-19 pandemic, the global economy witnessed profound disruptions, particularly in the realm of international trade. As the world grappled with the economic fallout of the pandemic, India stood at the forefront of navigating the complexities of international trade in a post-COVID-19 landscape. This research endeavour seeks to shed light on the multifaceted impact of the pandemic on India's international trade dynamics and explore strategic pathways for resilience and recovery. Drawing upon a blend of quantitative analysis, policy evaluation, and sector-specific assessments, this study delves into four primary objectives. Firstly, it meticulously assesses the economic ramifications of the pandemic on India's international trade, unravelling shifts in trade volumes, patterns, and macroeconomic indicators. Secondly, it evaluates the efficacy of government policies and interventions aimed at bolstering trade resilience amidst unprecedented disruptions. Thirdly, it scrutinizes sectoral dynamics, discerning the differential impact of the pandemic across various industries and supply chains. Lastly, it endeavours to forecast future trends, offering insights into the trajectory of India's international trade and strategic imperatives for navigating the evolving global landscape. Furthermore, this research explores emerging themes such as supply chain resilience, digital transformation, and geopolitical dynamics, underscoring their significance in shaping India's trade trajectory in the post-pandemic era. By providing a nuanced understanding of the challenges and opportunities inherent in India's international trade landscape, this study aims to inform policymakers, businesses, and stakeholders alike, facilitating informed decision- making and fostering resilience in the face of uncertainty.

Synergizing trade and sustainability: advancing SDG 14 through international trade dynamics

This paper explores the intricate relationship between international trade and the achievement of the United Nations Sustainable Development Goal 14 (Life Below Water), focusing on the potential of trade to contribute positively to marine conservation and sustainable use of ocean resources. By examining the intersection of economic, social, and environmental dimensions, the study delves into how trade policies and practices can be aligned with environmental objectives, particularly concerning marine ecosystems. A principal challenge identified is the tension between economic growth driven by international trade and the sustainability of marine ecosystems, exacerbated by practices such as overfishing and pollution from maritime transport. Another significant challenge is the lack of robust enforcement mechanisms for existing environmental provisions in trade agreements. To address these challenges, the paper recommends the integration of stringent and enforceable environmental clauses in trade agreements, coupled with the promotion of sustainable trade practices through international cooperation and capacity building. Furthermore, the study suggests the adoption of innovative trade mechanisms, such as eco-certification and the implementation of Marine Protected Areas (MPAs), to enhance the protection of marine life, support sustainable fisheries, and reduce ocean pollution. The paper concludes with specific policy recommendations for leveraging international trade as a tool for the sustainable management of marine resources, ultimately contributing to the broader agenda of sustainable development.

From Ancient Paths to Modern Highways: Mapping the Evolution of World Trade Routes and their Crucial Role in Today's Global Supply Chains Gaurav Dangre

From Ancient Paths to Modern Highways: Mapping the Evolution of World Trade Routes and their Crucial Role in Today's Global Supply Chains Gaurav Dangre

Network Analysis of International Trade: Shocks, Connections, and Implications

This paper delves into the intricate interplay between idiosyncratic shocks, network connections among economic agents, and the ensuing implications for international trade dynamics. Drawing upon economic theory and empirical evidence, it scrutinizes how localized supply shocks, such as those induced by natural disasters, reverberate through global trade networks. Two models are deployed to elucidate the relationships between exogenous shocks and fluctuations in international trade, offering insights into the mechanisms through which shocks propagate or dissipate. By examining the distribution of suppliers and the network structures of various goods, the paper uncovers nuances in the transmission of shocks and their impact on aggregate outcomes. Moreover, it explores the evolving role of countries within the global trade network, particularly in the context of energy trade. The findings underscore the significance of network analysis in understanding the resilience of international trade amidst disruptions and underscore the policy implications for trade and exchange rate strategies. Future avenues for research are also delineated, emphasizing the need for deeper investigations into the dynamics of trade networks and policy responses to shocks.

Examining the Influence of Macroeconomic Factors and Corporate Governance on Firm Performance in the ACE Market

This study focused on investigating the impact of macroeconomic factors and corporate governance on the financial performance of firms listed on the ACE Market of Bursa Malaysia. The ACE Market serves as a platform for smaller, emerging companies, providing them with an opportunity to raise capital with less stringent requirements compared to the Main Market. Using a panel data set of 72 companies over the period 2018-2022, the research employed panel-corrected standard errors (PCSE) regression. PCSE is a panel regression model that accounts for contemporaneous correlations, corrects for deviations from spherical errors, and enhances inference from linear models. The analysis revealed that ACE market companies, on average, show a negative return on equity (ROE) but positive numbers of women (NOW) and board meetings (NOM). The PCSE regression results, however, failed to show a statistically significant relationship between NOW and ROE, suggesting that the presence of women on the board of directors does not significantly impact the firm performance. The findings provide valuable insights for the firms in the ACE market companies regarding the consideration of important factors in improving firm performance. The research's broader goal is to inform the development of strategies fostering enhanced overall performance and sustainability in the ACE market. The study also suggests several recommendations such as broadening the scope and inclusion of international trade dynamics variables.

Effects of Trade Policies and Regulations on Global Livestock Markets and Food Security in Kenya

Purpose: The aim of the study was to examine the effects of trade policies and regulations on global livestock markets and food security in Kenya. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: The study revealed that the effects of trade policies and regulations on global livestock markets and food security in Kenya underscore the intricate interplay between local agricultural systems and international trade dynamics. Trade policies, including tariffs, quotas, and sanitary and phytosanitary (SPS) measures, significantly influence Kenya's livestock sector by shaping market access, competitiveness, and domestic production levels. While trade liberalization measures may enhance market opportunities and foster economic growth, they also pose challenges to local farmers and food security by exposing them to international competition and market fluctuations. Unique Contribution to Theory, Practice and Policy: New Trade Theory & Institutional Theory may be used to anchor future studies on effects of trade policies and regulations on global livestock markets and food security in Kenya. Efforts should be made to enhance the transparency, coherence, and consistency of trade policies and regulations related to livestock markets. There is a need to adopt a balanced approach that promotes trade while safeguarding food security and sustainable development goals. Policymakers should prioritize measures that enhance the resilience and competitiveness of domestic livestock producers, particularly small-scale farmers and vulnerable communities. This could involve targeted support programs such as access to credit, technical assistance, and market information, aimed at improving productivity, market access, and income generation.

ECONOMIC AND LEGAL BASIS OF STATE SUPPORT IN THE DEVELOPMENT OF TRADE OF MEDICINAL PLANTS IN THE DOMESTIC AND FOREIGN MARKETS

This study explores the economic policy and legislative frameworks that underpin government support, highlighting the importance of regulatory mechanisms, financial incentives and strategic partnerships. It examines how these measures improve market access, ensure quality standards and promote sustainable practices. The study also examines international trade dynamics and focuses on how domestic policies align with global market trends and compliance requirements. Areas of focus include subsidies, tax incentives, certification processes, intellectual property rights and trade agreements. By providing comprehensive information, this topic aims to shed light on the important factors affecting the medicinal plant trade and the ways in which government support can stimulate the development of the industry.

Macroeconomic structural change likely increases inequality in India more than climate policy

The decarbonization of India’s economy will have different effects across income groups. As India is in the middle of the transformation process from an agriculture-based economy towards an industry- and service-based economy, called economic structural change, the extent of income distribution across households strongly depends also on the speed of economic transformation. While a number of recent studies have analyzed the distributional effects of carbon pricing, the specific role of structural change across sectors has not been in the focus of the related literature. Our study contrasts distributional effects from climate policy with distributional effects from structural change in India and asks how far carbon pricing supports or hinders structural change and development. We develop and apply a comprehensive model framework that combines economic growth and international trade dynamics related to structural change with detailed household income and expenditure data for India. Our study shows that changes in income and inequality due to carbon pricing vary with changes in the sectoral structure of an economy. Our results indicate that carbon pricing tends to delay economic structural change by retarding the reallocation of economic activities from the agricultural sector to the manufacturing sector. Furthermore, the results emphasize that the increase in inequality due to structural change is substantially stronger than due to carbon pricing. Consequently, socially sensitive policies supporting the process of structural transformation appear to be more important for poor households than lowering climate policy ambitions.

Beyond Borders: CBAM’s Revolutionary Potential and Challenges in Achieving Carbon Neutrality

The Carbon Border Adjustment Mechanism (CBAM) is a ground-breaking method for attaining carbon neutrality in international trade as the world community struggles with the pressing need to address climate change. This research investigates how the CBAM might influence the dynamics of international trade and promote the shift to low-carbon, sustainable economies. A critical analysis has been conducted to explore the CBAM's transformational potential in bringing trade practices into line with climate goals by examining its economic, environmental, and political components and its implication practice, covering issues with trade equity, enforcement protocols, and possible geopolitical conflicts. The information has been gathered from several reliable sources, including the WTO, the European Commission for trade input, the World Bank, and the EPA for emission information. It has been compiled into a tabular format for simplicity of reading. The graphs have been plotted using Python (3.11.6) to improve visual comprehension. Stakeholders may help CBAM implement successfully by adopting these suggestions, maximising its revolutionary potential, and overcoming the difficulties in reaching carbon neutrality in international trade. By using an interdisciplinary approach, the study seeks to offer a thorough grasp of CBAM's function in becoming carbon neutral, revealing the complex obstacles that must be overcome for it to integrate into the world economy successfully.

Liberalization and Global Business Dilemma in Third World Countries: A PEST Analysis

Global business plays a critical role in advancing the Sustainable Development Goals (SDGs) set forth by the United Nations. The SDGs represent a universal call to action to end poverty, protect the planet, and ensure prosperity for all by 2030. Global businesses collaborate with governments, civil society organizations, and other stakeholders to address complex global challenges and achieve the SDGs. By fostering partnerships and multi-stakeholder initiatives, they contribute to SDG 17 (Partnerships for the Goals) by leveraging resources, expertise, and networks to drive sustainable development. Many global businesses are increasingly adopting sustainable practices to minimize their environmental footprint and promote responsible consumption and production. By implementing sustainable supply chain management, reducing waste, and adopting eco-friendly technologies, they contribute to SDG 12 (Responsible Consumption and Production). Liberalization and global business are interrelated processes that shape the dynamics of international trade, investment, and economic integration. While liberalization creates opportunities for global businesses to expand their operations and access new markets, it also presents challenges related to competition, regulation, and sustainability that require careful management and policy responses in third world countries. This has elicited a mixed rection on the role of global business on development of nations. Based on this, the purpose of this study is to examine the extent to which liberalization has impacted the political, economic, social, and technological advancement of third world countries. A literature review has been adopted for this purpose. The study concludes that the impact of liberalization of global business on third world countries is complex and varies depending on factors such as governance structures, economic policies, social dynamics, and technological capabilities. This study recommends that by adopting a holistic approach that takes into account the interplay between political, economic, social, and technological factors, governments in third world countries can maximize the benefits of liberalization while mitigating potential risks and promoting sustainable development.

Greenhouse gas emissions patterns and insertion in global value chains: a comparative study between Brazil and China (2000–2016)

PurposeThis study aims to analyze and compare the relationship between international trade in global value chains (GVC) and greenhouse gas (GHG) emissions for Brazil and China from 2000 to 2016.Design/methodology/approachThe input-output method apply to multiregional tables from Eora-26 to decompose the GHG emissions of the Brazilian and Chinese productive structure.FindingsThe data reveals that Chinese production and consumption emissions are associated with power generation and energy-intensive industries, a significant concern among national and international policymakers. For Brazil, the largest territorial emissions captured by the metrics come from services and traditional industry, which reveals room for improving energy efficiency. The analysis sought to emphasize how the productive structure and dynamics of international trade have repercussions on the environmental dimension, to promote arguments that guide the execution of a more sustainable, productive and commercial development strategy and offer inputs to advance discussions on the attribution of climate responsibility.Research limitations/implicationsThe metrics did not capture emissions related to land use and deforestation, which are representative of Brazilian emissions.Originality/valueComparative analysis of emissions embodied in traditional sectoral trade flows and GVC, on backward and forward sides, for developing countries with the main economic regions of the world.

Influence Analysis of Real Exchange Rate Fluctuations on Trade Balance Data Using Feature Important Evaluation Methods

This study delves into the intricate relationship between fluctuations in the real exchange rate and the trade balance, situated within the framework of a ‘two-country’ trade theory model. Despite a wealth of prior research on the impact of exchange rates on international trade, the precise extent of this influence remains a contentious issue. To bridge this gap, our research adopts a pioneering approach, employing three distinct artificial intelligence-based influence measurement methods: Mean Decrease Impurity (MDI), Permutation Importance Measurement (PIM), and Shapley Additive Explanation (SHAP). These sophisticated techniques provide a nuanced and differentiated perspective, enabling specific and quantitative measurements of the real exchange rate’s impact on the trade balance. The outcomes derived from the application of these innovative methods shed light on the substantial contribution of the real exchange rate to the trade balance. Notably, the real exchange rate (RER) emerges as the second most influential factor within the ‘two-country’ trade model. This empirical evidence, drawn from a panel dataset of 78 nations over the period 1992–2021, addresses crucial gaps in the existing literature, offering a finer-grained understanding of how real exchange rates shape international trade dynamics. Importantly, our study implies that policymakers should recognize the pivotal role of the real exchange rate as a key determinant of trade flow.

An Impact Assessment of the European Carbon Border Adjustment Mechanism (CBAM) on the Korean Economy: A CGE Approach

Purpose - This paper investigates the economic impact of the European Union Carbon Border Adjustment Mechanism (EU-CBAM) on Korea’s economy.
 Design/Methodology/Approach - The study employs the input-output model and Global Trade Analysis Project-Energy (GTAP-E) model by McDougal and Golub (2007), along with the GTAP-E version 10.1 Data Base developed by Aguiar et al. (2019). The input-output model estimates the carbon emissions of Korea’s exports to the EU27, evaluating potential carbon costs and a carbon tax (measured in US dollars per ton of emissions). Utilizing the static GTAP-E model, three policy scenarios are implemented, focusing on direct carbon emissions (Scope 1), emissions from electricity usage (Scope 2), and indirect emissions (Scope 3).
 Findings - Simulation outcomes reveal significant contractions in CBAM-related sectors of the Korean economy, with a decline in iron and steel production (US$ 68.00 million) and electronic industries (US$ 39.16 million). Korea’s export reductions to the EU27 in CBAM-affected sectors (iron and steel, cement, aluminum) indicate a subtle impact extending to the energy, energy-intensive, and services sectors.
 Research Implications - This paper provides valuable insights to policymakers and entrepreneurs in navigating the challenges and opportunities arising from the interlinkage of environmental policies and global trade dynamism. The analysis contributes to discerning perspectives essential for informed decision-making amid the complex interplay of regulatory frameworks and international trade dynamics.

Weighted Signed Networks Reveal Interactions between US Foreign Exchange Rates.

Correlations between exchange rates are valuable for illuminating the dynamics of international trade and the financial dynamics of countries. This paper explores the changing interactions of the US foreign exchange market based on detrended cross-correlation analysis. First, we propose an objective way to choose a time scale parameter appropriate for comparing different samples by maximizing the summed magnitude of all DCCA coefficients. We then build weighted signed networks under this optimized time scale, which can clearly display the complex relationships between different exchange rates. Our study shows negative cross-correlations have become pyramidally rare in the past three decades. Both the number and strength of positive cross-correlations have grown, paralleling the increase in global interconnectivity. The balanced strong triads are identified subsequently after the network centrality analysis. Generally, while the strong development links revealed by foreign exchange have begun to spread to Asia since 2010, Europe is still the center of world finance, with the euro and Danish krone consistently maintaining the closest balanced development relationship. Finally, we propose a fluctuation propagation algorithm to investigate the propagation pattern of fluctuations in the inferred exchange rate networks. The results show that, over time, fluctuation propagation patterns have become simpler and more predictable.

Research on the Impact of the Belt and Road Initiative on the Economies and Development of Participating Countries

Economic and Development Impact Study of the 'Belt and Road' Initiative: Through the comprehensive application of economic data analysis, regional development index comparison, and international trade dynamics mapping, this paper delves into the extensive impact of the 'Belt and Road' initiative on the economic structure, development models, and regional cooperation of participating countries. Particularly, the study employs tools such as investment distribution maps, national economic growth curves, and trade flow scatter plots to quantitatively assess how the initiative promotes economic growth, trade cooperation, and infrastructure construction in the countries along the route. Moreover, by comparing and analyzing the economic development indicators and international trade patterns of different countries before and after participating in the initiative, this research reveals the key role of the 'Belt and Road' initiative in promoting globalization, strengthening regional connectivity, and influencing international economic cooperation. The research results not only provide policymakers with a basis for formulating more precise and efficient regional cooperation strategies, but also offer an important perspective for understanding the position and role of the 'Belt and Road' initiative in the global economic landscape.