Trade Welfare Research Articles

Bilateral Trade Welfare Impacts of India’s Export Ban of Non-Basmati Rice Using the Global Partial Equilibrium Simulation Model (GSIM)

India, the world’s leading rice exporter, banned the export of non-Basmati white rice, accounting for 25% of its total exports (or 10% of the global rice trade). The ban aims to ensure availability to domestic Indian consumers and reduce domestic market prices, impacting global rice market accessibility, consumers, and producers across twelve regions. The study utilized the global simulation model (GSIM) to analyze the effects of trade restrictions on industries. The model uses national product differentiation to assess trade policy changes at global, regional, or national scales. It examined importer and exporter effects on trade values, tariff revenues, exporter surplus, and importer surplus. It found that India’s Voluntary Export Restraint (VER) ban on non-Basmati rice resulted in a higher local price and a negative global net welfare impact of USD 1.7 billion. The losses decreased to USD 1.4 billion when importing countries responded by reducing rice import tariffs by 25% and USD 1.1 billion when importing countries reduced tariffs by 75%. Sub-Saharan Africa, the Middle East, North Africa, and the Gulf Cooperation Council regions were most affected. The study also found minimal impact on consumer surplus in India due to inelastic rice demand.

Is Broader Trading Welfare Improving for Emission Trading Systems?

Is Broader Trading Welfare Improving for Emission Trading Systems?

Quantifying economic impacts of trade agreements with heterogeneous trade elasticities

AbstractBilateral trade relationships between countries vary across products. Such heterogeneity poses challenges when assessing the economic impacts of trade agreements. This paper estimates bilateral trade elasticities at the product level and explores these impacts using a hypothetical no‐deal Brexit as an example. Our findings indicate that the European Union's demand for the United Kingdom products is often less elastic compared to products from other trading partners. We also observed substantial heterogeneity in the elasticities across products and a negative correlation between these elasticities and tariffs. These factors mitigate extent of trade welfare losses compared to a scenario using homogeneous elasticities.

The Endemic Impact of Covid-19 on the Welfare of Traders at the Susumbolan Market, Tolitoli Regency

In March 2019 the world was struck by the emergence of an outbreak of a disease called corona or covid-19. Covid-19 has had an economic, social and environmental impact. The economic impact is the worst because of the effects that have weakened the country's economy. The purpose of this study was to determine the endemic of covid-19 on the welfare of traders at the Susumbolan Market, Tolitoli Regency. This study uses a type of qualitative research. The results showed that the impact of the Covid-19 endemic caused the income level of traders to decrease so that the level of welfare of traders in the Susumbolan Market, Tolitoli Regency, was unable to meet their daily needs which caused the traders' capital to decrease

Moneylender and the Welfare of Traders in Parung Market: Theological and Economic Approach

This research focuses on traders in Parung Market, aiming to discuss Moneylender and the welfare of traders in the Parung Market from theological and economic perspectives. The purpose of this study is: (1) to determine the existence of Moneylender in trading, (2) Moneylender from a theological perspective, and (3) to analyze the impact of Moneylender practices on the welfare of traders in Parung Market from an economic perspective. This research is a descriptive-qualitative research method with a critical paradigm approach in a case study research method. The primary data collection method is observation, structured interviews, and documentation. Data processing and analysis techniques are data reduction, data presentation, conclusion drawing, and verification. While testing the validity of the data is done by testing the credibility. This research’s findings indicate that Moneylender have existed since 2013 due to the need for capital and the absence of financial institutions that provide capital lending facilities. In addition, the mechanism for accounts payable is carried out with an easy process, but debt payments use the installment system daily. Moneylender harms the welfare of traders in Parung Market. From a theological perspective, the practice of usury by Moneylenders is not following the principles of Islamic economics, namely the principle of justice, the principle of Ta’awun, and Maslahat, so it does not meet the spiritual needs of traders. Meanwhile, from an economic perspective, capital loans from Moneylender can only meet capital needs for the short term and support the business being carried out because the interest charged to traders is very high.

The Impact of FTA on Trade Volume and Terms of Trade between Pakistan and China

The primary purpose of this study is to examine the impact of free trade agreements on trade volume and terms of trade between Pakistan and China. It examines the effect of the Pakistan–China Free Trade Agreement (PCFTA) on sector-wise trade welfare for both countries. Using the model of Lloyd and Maclaren, this study has quantified the trade welfare effect for both countries through trade volume, intra-union terms of trade and extra-union terms of trade in the context of PCFTA. The study concludes that the trade welfare increases for China and decreases for Pakistan after the complete execution of PCFTA. Also, there has been a trade creation for China and trade diversion for Pakistan by the PCFTA. JEL Codes: F15, F10, F13, I30, F60, F02

The effect of Murabahah Financing BMT UGT Sidogiri on the Welfare of Reni Jaya Market Traders Depok city, west java

The purpose of this study was to determine the effect of murabahah financing of BMT UGT Sidogiri on the welfare of traders at Reni Jaya Market, Depok City, West Java. This research is quantitative research with a causal approach. The data used are primary data obtained by distributing questionnaires to 112 respondents at the Reni Jaya market in Depok. Barokah Business Capital Products (MUB) BMT UGT Sidogiri, especially murabahah financing, the trend of murabahah financing members and murabahah financing income for 5 years, namely before the Covid-19 pandemic starting in 2017-2019 experienced an increase, as well as during the Covid-19 pandemic starting from 2019-2021 successively increased. While the data analysis technique used in this research is using descriptive statistics with the SPSS application. The results showed that the Murabahah Financing of BMT UGT Sidogiri had a significantly positive effect on Micro, Small and Medium Enterprises (Y) with a significant value of 0.000 0.05.

Analysis of the existence of PUD. Markets and Levies on Merchants' Welfare (Case Study of Petisah Market in Medan City)

PUD. is a market that sells various types of products in one area. Initially, the existence of PUD.s market has a positive impact in term of social and economic for market traders. However, currently it has a negative impact on the economy. The problem studied is how the existence of PUD is. Markets and levies on the welfare of traders at the Petisah Market in Medan. In this phenomenon, the authors are interested in researching the analysis of the existence of PUD. Markets and Levies on the Welfare of Petisah Market Traders. In this case the management of PUD. Markets and levies are very important to improve welfare in the division market, with the creation of a prosperous market many people prefer this market. This research method uses qualitative research methods, namely in the form of written or spoken words from people and actors that can be observed. This data was obtained from literature studies, interviews and observations to determine the existence of Medan city petisah market traders.

Pemberdayaan Masyarakat Pedagang Krupuk Olahan di Pantai Kenjeran Surabaya

One of the community empowerment programs that seek to optimize the potential of the marine and fisheries sector by the government is "Program Pemberdayaan Ekonomi Masyarakat Pesisir” (PEMP), which became the flagship program to improve the welfare of coastal communities in a structured manner through community empowerment and utilizing coastal resources optimally and sustainable but PEMP that proclaimed in 2000 failed and continued with PEMP kemuduan 2001. This failure is caused because PEMP considered not able to channel the aspirations of local communities (coastal). The program is the Family Welfare Economic Empowerment Program which is a partnership program between the villages located in the vicinity of the “Usaha Pengelolaan Pendapatan Keluarga Sejehtera” (UPPKS) based fisheries. Economic empowerment of the family welfare program focuses on community empowerment chips processed fish traders who use the main raw materials result from the sea. Economic empowerment programs aimed at improving the welfare of traders through the trade group increased production through training and processing of raw materials results from the sea.

Pengaruh Etika Bisnis Islam Terhadap Kesejahteraan Pedagang (Studi Kasus Pedagang Pusat Pasar Medan)

The purpose of this study is to find out whether there is an influence of Islamic business ethics with the variables of unity, equilibrium, free will, responsibility, benevolence and the welfare of traders in the Pusat Pasar Medan. This research is a quantitative research and the analysis used is multiple regression analysis. The data collection technique used is the questionnaire method obtained directly from the respondent, namely the Pusat Pasar Medan Trader. Analyzed using statistical tools, namely SPSS Version 22. Based on the results of data processing has shown that there is a significant influence as partially and simultaneously among the unity, equilibrium, free will, responsibility and benovelence towards the welfare of traders in the Medan Market Center. For unity, free will, responsibility and benovelence have a positive effect on the welfare of traders in Medan Market Center. While the equilibrium variable has a negative effect on the welfare of Medan Market Center traders. The adjusted R square value is 0.345. This means that 34.5% increase in welfare can be explained by independent variables, namely the variables of unity, equilibrium, free will, responsibility and kindness. While 65.5% is explained by other factors.

Alternative strategies for sustaining Yogyakarta Philosophy Axis and impact on community and the environment

Since 2016 the Yogyakarta City Government together with the Provincial Government of the Special Region of Yogyakarta has continued to rearrange green open spaces in the Yogyakarta Philosophy Axis area. The Philosophy Axis, which was the result of the thoughts of Sri Sultan Hamengkubuwono I in 1756, has been designated by the Governor of the Special Region of Yogyakarta as a cultural heritage according to the Decree of the Governor of the Special Region of Yogyakarta number 108 / Kep / 2017. On March 14, 2017, the Philosophy Axis was submitted to UNESCO to become a World Heritage City. This study aims to formulate a strategy to preserve the Philosophy Axis through descriptive analysis. SWOT analysis is used by dividing it into two, namely IFAS and EFAS. The research data was collected qualitatively by in-depth interview. This research is focused on disclosing the problems that will occur and what will be done in the future. The results show that the strategy formulation refers to quadrant 1, with several alternative strategies suggested, such permits for construction and use of buildings on the Philosophy Axis must be reaffirmed by the Office of Investment and Licensing; instilling an awareness of protecting cultural heritage in collaboration with the Cultural Heritage Conservation Center; collaborating with the Ministry of Communication and Informatics for the promotion of the Philosophy Axis through social media; community involvement to participate in managing the Philosophy Axis bridged by the Village Community Empowerment Institution; clear and firm warnings and signs are needed in the area so that tourists and the public know that there is a threat of punishment if they do not comply with the regulations. Meanwhile, the latest policy appeared starting November 2020 in the form of testing the pedestrian path along Malioboro, so that it became an area that was not allowed for motor vehicles to pass. This resulted in the turnover of traders in the Malioboro area decreasing by 20%. However, it has a positive impact on the environment, because the number of pollutants is expected to decrease. The preservation of the Philosophy Axis is expected to be able to improve the quality of green open space and increase the number of tourists and the welfare of traders.

Analisis Dampak Sektor Pariwisata terhadap Kesejahteraan Pedagang di Kota Banjarmasin

This study was conducted to (1) analyze the impact of the tourism sector on the welfare of traders in the tourist area of the Siring Sungai Martapura Park in the City of Banjarmasin (2) to analyze the differences in the welfare level of traders who utilize the tourism sector before and after the development of tourism in the tourism area of the Siring River Martapura Park Banjarmasin City. In this study, Respondents were 38 people, namely traders who are still active around the Siring Sungai Martapura Park in Banjarmasin City. This research is a qualitative descriptive study. In this study, data collection methods were interviews in the form of cake, observation, documentation, and literature study. The results of this study prove the positive impact of the tourism sector on the welfare of traders around the Banjarmasin tourist attraction used in this study, namely the Siring Sungai Martapura Park Banjarmasin City viewed from the tourism sector which gives an impact on increasing income before and after the development of tourism, education level, the level of health, and living conditions that indicate merchants who have increased welfare before and after utilizing the tourism sector. The resulting negative impact is the dependence on the existing tourism sector because it depends on tourist visits. The tourism sector is used as an indicator in the study. This is a tourist visit while public welfare indicators are income, expenditure, health, education, and living conditions.

ANALISIS DAMPAK PEMBIAYAAN QARDUN HASAN TERHADAP KESEJAHTERAAN PEDAGANG DI ACEH

The purpose of this study was to analyze the Impact of Qardun Hasan Financing on the Well-Being of Traders in the Lambaro Banda Aceh market. The data used in this study are primary data using sequential time data. The number of samples in this study were 34 members of the Banda Aceh Baitul Misyakat Sharia Cooperative whose receipts were traders in the Lambaro Banda Aceh market using accidental sampling techniques. Data obtained through interviews and questionnaires. The method of data analysis in this study used a paired t test method. The results of this study found that there was an impact on the welfare of traders as measured by religious activity, income, savings and alms. The four indicators showed an impact on the welfare of traders, this was concluded after looking at the conditions and data of traders before and after receiving Qardun Hasan's financing.

Does Vote Trading Improve Welfare?

Voters have strong incentives to increase their influence by trading votes, acquiring others’ votes when preferences are strong in exchange for giving votes away when preferences are weak. But is vote trading welfare improving or welfare decreasing? For a practice long believed to be central to collective decisions, the lack of a clear answer is surprising. We review the theoretical literature and, when available, its related experimental tests. We begin with the analysis of logrolling, the exchange of votes for votes. We then focus on vote markets, where votes can be traded against a numeraire. We conclude with procedures allowing voters to shift votes across decisions—that is, allowing one to trade votes with oneself only. We find that vote trading and vote markets are typically inefficient; more encouraging results are obtained by allowing voters to allocate votes across decisions.

IMPACTS OF TRADITIONAL MARKET REVITALIZATION ON THE TRADERS’ CAPITAL EXPENDITURES IN SITUBONDO

The impact of traditional market revitalization has an effect on the expenses and business capital of traders. Traditional markets are the economic fulcrum of the community, but traditional market conditions are synonymous with slums, dirty, smelly, irregular, muddy and so on. To survive the onslaught of modern markets there needs to be a revitalization of traditional markets, the emphasis is on the physical aspects of the market. so the hope of traders is that consumers interested in shopping in the market and the welfare of traders can increase, therefore researchers are interested in exploring the impact of market revitalization on traders in Situbondo Regency. The formulation of the problem is how the traditional market impacts on the expenses and capital of the merchant business, this type of research is (field research), is research conducted in the field by observing a phenomenon that is natural, while collecting data using observation, interviews and documentation . This study uses descriptive analysis method with a qualitative approach. The results show that the problems arising from revitalization are (1) the costs incurred by traders are very large, because they have to bear the costs of moving to a temporary place before occupying a revitalized market. (2) temporary relocation sites are very narrow and slum so that they have difficulty arranging their merchandise which has an impact on consumers' interest in shopping to decrease. (3) new buildings do not meet the expectations of traders, many traders complain starting from the size of the place that is too small and the design of buildings that are not in accordance with the products sold by certain traders (4) traders must renovate the kiosks provided by the market manager with the products they sell (5) due to the large amount of costs incurred by merchants ranging from temporarily moving to occupying new kiosks, the capital for their merchandise is reduced which results in incomplete merchandise.
 Keywords: Revitalization Impact, Merchant Expenditures, merchandise capital.

STRATEGI PENGEMBANGAN PASAR TRADISIONAL DALAM MENINGKATKAN KEPUASAN PEDAGANG

Traditional markets are a form of popular economy and are also one of the pillars of the national economy in Indonesia. The traditional market conditions are mostly dirty and uncomfortable to shop but still crowded by buyers. This study uses descriptive analysis method with a qualitative approach. The research location is Arriyad market, Mampang Prapatan, South Jakarta. The research sample was 60 traders from 289 traders. The results show that traditional market development is carried out by the market manager Arriyadh through traditional market revitalization aimed at increasing market competitiveness and reactivating traditional market activities in order to compete with the modern market. Analysis of market development strategies in increasing the satisfaction of traders in the Arriyadh market includes four aspects including social aspects, non-physical aspects, economic aspects and physical aspects. From the analysis of the four aspects the traders were not satisfied, because the system of follow-up complaints and suggestions were slow, facilities and infrastructure were not optimal and the welfare of traders in terms of income was not optimal (decreased). Keywords: Strategy, Traditional Market Development, and Trader Satisfaction

Pengaruh Etika Bisnis Islam Terhadap Kesejahteraan Pedagang (Studi Kasus Pedagang Pusat Pasar Medan)

The purpose of this study is to find out whether there is an influence of Islamic business ethics with the variables of unity, equilibrium, free will, responsibility, benevolence and the welfare of traders in the Pusat Pasar Medan. This research is a quantitative research and the analysis used is multiple regression analysis. The data collection technique used is the questionnaire method obtained directly from the respondent, namely the Pusat Pasar Medan Trader. Analyzed using statistical tools, namely SPSS Version 22. Based on the results of data processing has shown that there is a significant influence as partially and simultaneously among the unity, equilibrium, free will, responsibility and benovelence towards the welfare of traders in the Medan Market Center. For unity, free will, responsibility and benovelence have a positive effect on the welfare of traders in Medan Market Center. While the equilibrium variable has a negative effect on the welfare of Medan Market Center traders. The adjusted R square value is 0.345. This means that 34.5% increase in welfare can be explained by independent variables, namely the variables of unity, equilibrium, free will, responsibility and kindness. While 65.5% is explained by other factors.

Revisiting the Efficiency of Competitive Markets: The Incentive to Social Communication

This paper revisits the efficiency of a rational expectations equilibrium model of a competitive market from the perspective of the incentive to social communication. The classical result tells us that the equilibrium price perfectly reveals all dispersed information in the market when the supply of the risky asset is a constant, but does not in the environment of random supply. As opposite to this finding, in this paper we show that for some cases the equilibrium price still perfectly reveals all private information of traders when taking into account the incentive to social communication. Specifically, we show that when the communication cost and the difference between traders' signal precisions are small, traders have the incentive to take the average of all traders' demands, that is, the per-capita supply to improve social welfare and every individual trader's welfare. Knowing the supply information reduces the equilibrium price to be a perfect aggregator again even though the supply of the risky asset is stochastic.

Medium-Small and Venture Firm Size Distribution and Trade Welfare

Medium-Small and Venture Firm Size Distribution and Trade Welfare

Differential Access to Price Information in Financial Markets

Recently, exchanges have been directly selling market data. We analyze how this practice affects price discovery, the cost of capital, return volatility, market liquidity, information production, and trader welfare. We show that selling price data increases the cost of capital and volatility, worsens market efficiency and liquidity, and discourages the production of fundamental information relative to a world in which all traders observe prices. Generally, allowing exchanges to sell price information benefits exchanges and harms liquidity traders. Overall, our results suggest that regulations on selling market data can play an important role in improving market quality and trader welfare.