Production Of Goods For Export Research Articles

Analysis of the Impact of Exchange Rate on Price Level in Nigeria

The study focus on Analysis of the Impact of Exchange Rate on Price Level in Nigeria from 1988 to 2016 with variables as Inflation, exchange rate, tariff rate, import and interest rate. The research employed the Dynamic Ordinary Least Square (DOLS) regression method with the pre-test of Augmented Dickey Fuller (ADF) unit root test. The regression result showed a negative and insignificant relationship between exchange rate and inflation, tariff rate was negative and significant in relationship with inflation, while import was positively and insignificantly related to inflation, interest rate was having a positive but not significant relationship with inflation. We recommend that moderate or realistic tariff rate be negotiated among trading partners. Also local production of goods for export that will counter the negative impact of import to avoid imported inflation and strict monitoring of the activity of CBN and commercial banks in exchange rate dealing to avoid unnecessary and unproductive use of dollars.

On Export and Economic Growth: A Comparative Analysis of Selected West African Countries

The effect of export on economic growth has attracted much attention amongst researchers and practitioners. Conventional theories posit that output growth is attainable if countries produce and export the goods in which they have comparative advantages or are resourcefully endowed. Available evidence, however, sometimes present negative or inconclusive results on export-growth nexus. The study applied the panel cointegration and panel corrected standard errors (PCSE) on a sample of thirteen selected West African countries for the period 1990-2018. The result shows existence of cointegration amongst the variables. The PCSE results indicate positive long run relationships between export and growth, on one hand and exchange rate and growth, on the other. The study recommends measures to improve trade and attain growth in region such as the complete removal all forms of export restrictions and tariff on primary products, as well as administrative tax exemptions for domestic firms that engage in production of export goods.

Processing trade and costs of incomplete liberalization: The case of China

A major objective of policies promoting processing trade in developing countries is integration with global markets. A central feature of processing regimes is that firms do not have to pay tariffs on imported inputs as long as they are used exclusively in the production of goods for export. These firms are typically restricted from selling output using imported inputs on the domestic market. These restrictions can be viewed as a form of incomplete liberalization due to protectionist motives. Using data from China for 2000–2007 for 109 industries, we study the welfare effects of these measures. Counterfactual experiments imply total welfare losses of 2.2% for China due to the restriction on selling processing output domestically, and even larger loses of 5.7% for labor. Gains from only the tariff exemption for processing firms however are negligible.

СОВРЕМЕННАЯ ПРОБЛЕМАТИКА ПРОЦЕССА СОЗДАНИЯ ОСОБЫХ ЭКОНОМИЧЕСКИХ ЗОН В РОССИИ И МИРОВЫЕ ТЕНДЕНЦИИ ИХ РАЗВИТИЯ

The author explore the creation and regulation of special economic zones in Russia on the basis of a systematic approach. Such territories are considered by the government as a way to diversify the production of goods for export, increase the labor force and exchange technology between enterprises. The author conclude that this approach hinders business activity and hinders the vital competitive and collaborative behavior of firms within these economic zones.

Transformation of the Socio-economic Model of China in the Context of a Pandemic

The article explored the impact of the pandemic and the ensuing quarantine on the Chinese economy and its attractiveness to foreign investors. At the end of the first quarter of 2020, there was a sharp decline in almost all Chinese socio-economic indicators. The year to year decline in GDP, retail sales and exports by 6.8%, 19% and 11.4% respectively, looked especially dramatic. Against that negative background, the question arose, firstly, about the urgent launch of the program to stimulate the economy and, secondly, the need to develop and implement a new model of economic development for the PRC. After a slight delay, the Chinese authorities launched a series of fiscal and monetary measures aimed at supporting the national economy, including: reducing or canceling various payments to the budget (taxes, social security contributions, etc.), reducing loan rates, the ratio of reserve requirements, direct and indirect payments to citizens, etc. Thanks to government support measures, the main socio-economic indicators for the third quarter of 2020 showed growth, although less than Beijing would like. The lack of private consumption by Chinese households remains the main problem. Implementing support measures, the Chinese authorities have unveiled a new strategy for economic development, called «dual circulation», which aims to stimulate domestic private consumption. The authors come to the conclusion that, firstly, despite external and internal challenges, China, as a whole, will be able to achieve the indicative indicators laid down in the 13th five-year plan for the social and economic development of the PRC for 2016-2020. Secondly, the tasks of complete elimination of poverty in the country will be successfully solved and plans for the construction of a society of «moderately prosperous society» will be implemented. Thirdly, China in the short and medium term will retain its attractiveness for foreign investment, but not within the framework of the «investment in the production of goods for export» scheme, but within the framework of «investment in the production of goods for domestic consumption».

An Appeal for Targeted Regulatory Protection of Human Rights in the European Union’s External Trade Relations in Light of Front Polisario

Shrimp, cotton, cocoa. The US Department of Labor’s list of goods believed to be produced by child or forced labour is long. It also acts as a chilling reminder that everyday products on the European market may have been produced under conditions representing severe human rights violations. In the United States, section 307 of the Tariff Act 1930 acts as a tool for customs to block the importation of certain goods produced under proved child or forced labour conditions. No equivalent exists in the European Union (EU). Yet, in light of the currently-pending appeal case of Front Polisario, the General Court and Advocate General Wathelet could have opened the door to requiring the Council of the EU to assess and ensure that the production of goods for export which enter the Union under a preferential trade arrangement comply with certain fundamental human rights. This note discusses the viability of that obligation and proposes making fundamental human rights indirectly enforceable abroad through a European equivalent of section 307.

Fiscal Austerity and Export Performance: The Case of Greece

Financial integration and common monetary policy, along with improved prospects for the EMUmember countries, instigated a flow of funds from north to south, causing a positive aggregate demand shock in those countries that absorbed the funds. The result was a surge in imports and prices of non-tradable and tradable goods, effective exchange rate appreciation and external imbalances. Greece was one of the southern countries that experienced a significant decline in competitiveness. The resulting large and persistent current account deficits contributed to the accumulation of a sizeable external debt. The financial crisis that erupted in 2008 resulted in the macroeconomic imbalances of the Greek economy, the downgrading of Greek sovereign debt and the consequent debt and economic crises. The recommendation of European Central Bank (ECB), European Commission (EC) and International Monetary Fund (IMF) for the restructuring of the Greek economy and an improvement in competitiveness was “internal devaluation” through fiscal austerity and structural reforms. These recommendations were designed to restore the lost competitiveness of the tradable sector, reallocate resources to the production of exportable goods, raise exports, eliminate the current account deficit and reduce external debt. However, the performance of Greek exports has been worse than expected. Among other factors, some economists argue that the unprecedented fiscal contraction imposed by Greece’s creditors has been an obstacle to export growth. The purpose of this paper is to evaluate the impact of fiscal austerity on exports by investigating possible reasons for the poor export performance. To begin with, Greek exporters have not really cut prices much. One could argue that exporters took advantage of lower wages and raised profit margins rather than cutting prices to capture market share. Another explanation could be that the cost of production has not declined proportionally to labor costs. Exporters incurred higher business taxes and the cost of Int Adv Econ Res (2015) 21:121–122 DOI 10.1007/s11294-014-9501-0

Resources for Change

Resources for Change Elizabeth Wishnick (bio) Elizabeth C. Economy and Michael Levi’s By All Means Necessary: How China’s Resource Quest Is Changing the World New York: Oxford University Press, 2014 ISBN: 978-0-19-992178-2 (hardcover) Three decades ago, China was an oil exporter—sales of its fossil fuels accounted for nearly one-quarter of the country’s GDP and helped finance its economic reforms. After 30 years of rapid economic growth, China has now surpassed the United States as the world’s largest net oil importer. The country’s surging demand for energy, as well as for mineral resources and food products, has contributed to rising prices and raised fears about Chinese state-owned companies scouring the world for resources and locking up supplies. Is China’s global quest for resources a game changer? In By All Means Necessary: How China’s Resource Quest Is Changing the World, a wide-ranging analysis of Chinese resource-acquisition strategies, Elizabeth Economy and Michael Levi debunk alarmist myths about China’s growing footprint in global resource markets. They are uniquely placed to do so—Economy is an expert on China’s environment, resources, and foreign policy, while Levi is an authority on energy policy, climate, and technology. Unlike many recent books that focus on China’s demand for a particular resource, By All Means Necessary compares China’s global quests for oil, gas, minerals, food, and water. The authors argue that it is necessary to examine the particular dynamics in each resource sector to assess the impact of Chinese demand and corporate practices. In particular, Economy and Levi caution against attributing recent increases in resource prices to China’s pressure on markets. Oil producers, for example, have revenue targets. Once met, if prices are high enough, there is little incentive to increase supply regardless of demand pressures from China and other countries (p. 26). Moreover, contrary to the oft-heard trope about Chinese state oil companies locking up supplies, their production activities actually bring more oil to world markets. Some economists further note that the oil used in China’s production of goods for export—known as embodied oil—obviates the need by other countries for that oil in their own production process because they buy the finished [End Page 169] products from China. Chinese demand for oil, in effect, reflects global demand for goods produced in China.1 In the case of iron ore, developments in the Chinese steel industry unintentionally made the dynamics of the global iron trade more market-oriented. Economy and Levi recount how the emergence of small steelmaking companies in China undercut efforts by major Chinese firms to demand lower prices from the three main global producers of iron ore, Vale, Rio Tinto, and BHP Billiton, which control 70% of the trade (p. 37). As a result of changes in the Chinese industry, the iron trade shifted radically from an emphasis on long-term contracts to a system where spot markets play a much greater role (p. 39). According to Economy and Levi, it is in commercial relationships where China’s impact is increasingly felt, as Chinese companies invest more extensively in a wide variety of countries and sectors (p. 45). Chinese firms are relatively new players and have to work harder to make friends, drawing on networks of informal and personal relationships. This can cause deals to unravel when the leadership changes in target countries. Chinese companies may also overbid or overpromise to win a deal, only to see their projects collapse or turn out to be less profitable than anticipated (p. 73). The complex interconnections between Chinese political and economic elites present both opportunities and risks. Unlike in other countries, Chinese companies can depend on top political leaders to act as “diplomat deal makers” (p. 72). However, this means that political disputes have the potential to spill over into trade and investment, as was seen in 2010 when increased tensions between China and Japan disrupted the trade in rare earths between the two countries (p. 75). China claims to follow the principle of “noninterference” in the domestic affairs of other states, and its companies enter into deals with none of the preconditions...

Energy consumption patterns in the process of China’s urbanization

Urbanization has transformed daily lives and industrial production in China. We investigate the effects of this process on Chinese energy consumption patterns. Three energy-consuming sectors intricately associated with urbanization are identified and analyzed: residential households, transportation, and the building materials industry. Urbanization has profoundly affected each; moreover, the latter two are high energy consumption and potentially high carbon producing. We estimate energy consumption attributable to each sector to quantitatively evaluate their impacts on societal transition. Transportation and the production of building materials are identified as the most significant linkages from urbanization to energy consumption. Strikingly, despite the large increase in the proportion of the population that is urban, the share of urban energy consumption, as estimated here, in total energy consumption has remained stable. This suggests that economic growth, in the form of the production of goods for export and domestic consumption, is the most important driver of energy demand in China.

Do Voluntary Labour Initiatives Make a Difference for the Conditions of Workers in Global Supply Chains?

Since the mid-1990s a plethora of voluntary labour initiatives has been introduced in global supply chains that serve northern-based consumer markets. The chief aim of these new systems of labour governance is to establish minimum standards and conditions for workers employed in the production of goods for export. This concern for labour follows a period of market liberalism, a major shift in the regulatory position of nation-states and the globalization of business. Voluntary initiatives, which largely draw on the International Labour Organization (ILO) core conventions, include codes of conduct, certifiable standards and International Framework Agreements (IFAs). The article explores the effectiveness of these initiatives in a highly concentrated industry: the banana trade. The banana trade is dominated on the production side by three North American agri-businesses: Chiquita Brands International, Dole Food Company and Fresh Del Monte Produce. Yet these businesses are increasingly being directed by international retailers, particularly in the UK, where the four major supermarket groups command access to the consumer, and comprise Tesco, ASDA (owned by Wal-Mart), J Sainsbury and Wm Morrison Supermarkets. The continuing increase of retail buyer power within global supply chains, coupled with supermarkets’ intent to respond to demands for social responsibility in the chains that serve them, raises the prospect of better conditions for workers. However, the article argues that although some improvements have been made, while supermarkets continue to drive down costs to benefit consumers, workers ultimately pay the price.

The role of CO 2 embodiment in US–China trade

This study examines the influence of US–China trade on national and global emissions of carbon dioxide (CO 2). The three basic questions are as follows: (1) What amount of CO 2 emissions is avoided in the US by importing Chinese goods? (2) How much are CO 2 emissions in China increased as a result of the production of goods for export to the US? and (3) What are the impacts of US–China trade on global CO 2 emissions? Our initial findings reveal that during 1997–2003: (1) US CO 2 emissions would have increased from 3% to 6% if the goods imported from China had been produced in the US, (2) About 7%–14% of China's current CO 2 emissions were a result of producing exports for US consumers, and (3) US–China trade has increased global CO 2 emissions by an estimated 720 million metric tons. We suggest that the export of US technologies and expertise related to clean production and energy efficiency to China could be a “win–win” strategy for both countries for reducing their trade imbalance and mitigating global CO 2 emissions. Improved international accounting methodologies for assigning responsibility for CO 2 emissions must be designed to account for the dynamic nature of international trade.

Small and Medium Slaveholdings in the Coffee Economy of the Vale do Paraiíba, Province of Saão Paulo

Small and Medium Slaveholdings in the Coffee Economy of the Vale do Paraiíba, Province of Saão Paulo

The role of export subsidies in balance-of-payment crises

This paper investigates the effects of export subsidies when capital goods are imported for use in production of export goods. Export subsidies increase the demand for foreign capital at the expense of domestic consumption. The increase in the capital stock raises the real wage rate while leaving the real rental rate unchanged. However, if the speed of capital accumulation exceeds the savings rate, deterioration of the trade balance may occur. We show thereby that export subsidies can be linked to balance-of-payment crises.

Human Rights Sanctions and International Trade: A Theory of Compatibility

This article examines the compliance of unilateral trade sanctions designed to promote human rights abroad with GATT trade liberalization principles. Using examples from US trade measures, the article defines unilateral human rights sanctions as falling into three categories: tailored, semi‐tailored, and general sanctions. The article then evaluates the compliance of these three types of sanctions with the GATT text and recent WTO interpretations. It argues that while the GATT appears to preclude many unilateral human rights trade measures, particularly those involving semi‐tailored and general sanctions, the GATT text reasonably can be read to accommodate certain human rights sanctions. These include those targeting human rights and labor violations that occur in production of goods for export, GSP measures, restrictions on military technology, and general trade measures targeting jus cogens violations such as genocide. The article concludes that such an interpretive approach to the GATT is necessary in order for trade liberalization to develop consistent with fundamental human rights norms and the broader substantive requirements of the international legal system.

An examination of the compatibility of World Bank policies towards population, development and biodiversity in the Third World

This paper addresses the compatibility of World Bank policies towards population growth, development and biodiversity in the Third World. The World Bank has been central to the design and implementation of the Global Environment Facility (GEF), the remit of which includes the conservation of global biodiversity. However, the Bank's influence over the facility has in itself created controversy which may undermine its effectiveness. More significantly, the Bank's commitment to the GEF is subverted by its policies in other social and economic sectors. The World Bank, together with the International Monetary Fund (IMF), directs the structural adjustment of Third World economies through economic deregulation and privatization. This approach exacerbates inequalities and further empowers large landowners who may then displace tenant farmers and claim exclusive rights to former common land. Thus, biodiversity loss occurs as large landowners reorientate the land use towards the production of export goods and dispossessed farmers invade marginal land. Population growth influences biodiversity loss through its contribution to agricultural intensification and the settlement of marginal land. The World Bank encourages this trend through its non-committal approach to population control, but more especially through structural adjustment's positive effect on fertility.

India's Foreign Trade and Industrial Development

THE BASIC strategy of export promotion currently in vogue is import liberalization. The objective is to remove every possible obstacle to the production of goods for export. The logic is that the liberal import of machinery and intermediate products would make production for export less expensive, more profitable and hence easier. Whatever way we might look at it, the major beneficiary of a strategy of import-based export production and industrialization is the transnational corporation. We need a different approach to foreign trade as one of the components of industrial development. Foreign trade must become an integral part of the planning process. The basic principle of imports for industrial development and exports bas to be modified, to ensure that import liberalization meets priority needs of industry, not indigenously available or likely to be developed within a short time. Import substitution has not become irrelevant, however fashionable it might be to say so. In our drive to increase our exports of engineering goods, we should not Jose sight of our traditional exports. In the case of nontraditional goods, the need is to bear in mind comparative advantage and build up such thrust areas as are likely to have a continuing and expanding market over a reasonable time-frame. This is what demands unport substitution in certain well-identified thrust areas, in which we have comparative advantage.

Capital supply in Gothenburg's foreign trade, 1765–1810

Abstract This section is not intended to be an enquiry into the total capital needs of Gothenburg's foreign trade. Such an enquiry would not be possible for lack of source material. However, an earlier study of mine of Gothenburg's foreign trade in 1765–1800 furnishes a basis on which to compile an account of the various fields in which the city merchants of the eighteenth century availed themselves of credit. The capital needs of prominent businessmen were largely conditioned by the structure not only of trade but also of contemporary industry and handicrafts inasmuch as the exporter was compelled to take a part in financing the production of goods for export and the importer similarly gave credit to the manufacturers and craftsmen who were the consumers of imported goods. A brief account of conditions in the export and import trades may therefore be pertinent.

The Computerized System for Optimal Foreign Trade Planning: Objectives, Tasks, and Structure

Improving the effectiveness of social production and securing high rates of economic growth and rises in the standard of living of workers are today connected with the extensive utilization of external economic relations. The Report of the Central Committee of the Communist Party to the Twenty-Fourth Congress states: One of the major resources to be drawn on in improving the economic effectiveness of the economy is further elaboration and perfection of external economic relations. Political factors, having to do with strengthening socialist fraternity and fortifying the economic basis of peaceful coexistence, and economic factors, stemming from our economic needs, both make it important that we expand the production of goods for export in all branches of industry. This will also help to increase the import of needed goods. There can be no doubt that the expansion of international exchange will have a favorable effect on improving the performance of our industry as a whole. Of course, certain specific measures must be taken to improve the control of all external economic activity if we are to increase the role of economic and scientific-technological relations with other countries in our economic progress.

Japanese Consumption, External Disequilibrium and their Statistical Measurement

Japanese statistics indicate domestic consumption levels to be sub? stantially above pre-war; yet, these statistics also indicate a continuing external diseqilibrium in the form of insufficient food imports, es? pecially of rice. This would appear to indicate that the statistics on the internal economy contradict those on the external economy. The present paper discusses these statistics on consumption against the backdrop of the continued shortage of Japanese foreign food avail? abilities, especially of rice, the principal staple food of Japan. Our conclusions, although perhaps somewhat inconclusive, are as follows: (1) Japanese statistics on consumption levels as derived from ratios of index numbers appear to have an upward bias, especially when comparison is made between the farm nad non-farm sectors. (2) These statistics appear to have an upward bias when comparison is made between the food and non-food categories of consumption. (3) Japan still has an external disequilibrium in not being able to import enough. (4) The fact that restrictions against Japanese trade have probably hindered Japan's correcting this disequilibrium sug? gests that U.S. commercial policy towards Japan might be altered in her favor by considering her general levels of consumption. The actual levels of consumption in Japan are somewhat below the levels suggested by ratios of index numbers. This disparity should be analyzed further and considered in the determination of U.S. commercial policy towards Japan. It is generally known that the level of food consumption in Japan, especially of rice, is below the requirements considered necessary for good health. This situation exists for many other countries throughout the world. In the case of Japan, however, the reason for the food deficit is insufficient imports rather than insufficient agricultural pro? duction or insufficient industrial production of exportable goods. Japan has the labor and capital resources to export manufactures at com

Tariffs, Balance of Payments, and the Terms of Trade

The purpose of this article is to investigate the effect of tariffs on the balance of payments and on the terms of trade. The approach is one of general equilibrium, and the attack is along the lines of comparative statics. Starting from a certain equilibrium position we try to determine the course of its displacement in response to a change in tariffs. All the basic conditions of equilibrium such as tastes, techniques and the available productive resources are supposed to remain constant: tariffs are the only independent variable of the system. The most common approach to the problem of tariffs is that not of general but of partial equilibrium. We argue that tariffs raise the home market prices of imports, that they reduce the volume of imports and depress the world market prices. They lead, therefore, to an improvement both in the balance of payments and in the terms of trade, the extent of the improvement in either of them being determined by the elasticities of demand and supply. We usually neglect the fact that the expansion in the production of the commodities protected by tariffs may require a diversion of some factors from the production of export goods, and that this may have an unfavourable effect on exports and on the balance of payments. Similarly, the reduction in the volume of imports means that less of those goods is being produced abroad and that the factors thus made unemployed may seek employment in the production of the goods which the country imposing the tariffs is exporting; this too may have an unfavourable effect on that country's exports and on its balance of payments. We neglect also the possibility that tariffs may stimulate investment in the industries producing goods competing with imports; this may lead to inflationary tendencies in the whole economy; some deflationary measures may therefore be required to keep the economy in balance; and these may result in a fall in the prices of exports, in a deterioration of the balance of payments, and in less favourable terms of trade. The present article is an attempt to take into account all these secondary effects. The analysis is based on a long and rather laborious argument in mathematics. In order, however, to make the article readable also to those who have no patience to follow pages of mathematics line by line and are, therefore, prepared to take certain