Volume Of World Trade Research Articles

Mining maritime schedules for analysing global shipping networks

Shipping plays a vital role as trade facilitator in providing cost-efficient transportation. The International Maritime Organisation (IMO) reports that over 90% of the world trade volume is carried by merchant ships. The analysis of shipping networks therefore can create invaluable insight into global trade. In this paper we study the appropriateness of various graph centrality measures to rate, compare and rank ports from various perspectives of global shipping networks. In particular, we illustrate the potential of such analysis on the example of shipping networks constructed from the schedules, readily available on the World Wide Web, of six shipping companies that transport 35-40% of the total volume traded (in TEUs) worldwide.

International price dispersions of the Big Mac and economic integration

McDonald's Big Mac hamburger is available all over the world, and its recipe and quality are almost identical around the world and have changed little over time. However, Big Mac prices are widely disparate even across countries with more similar per capita incomes. This fact would be amazing because world tariff levels have been falling steadily and world trade volumes have been increasing dramatically in recent decades. We pay attention to the situation of international goods markets' integration and attempt to clarify why the deviations from absolute Big Mac parity are common across countries. To summarize our main results, global price dispersion of the Big Mac did not decrease although per capita income dispersion reduced. On the other hand, price dispersions of the Big Mac decreased within countries where trade ties are strong. These results suggest that Big Mac prices of countries in the world converge to several levels and that existence of trading bloc accounts for deviations from absolute Big Mac parity to some extent.

How Bad Is Antidumping? Evidence from Panel Data

Abstract Current research on antidumping suggests a number of channels through which antidumping affects the volume of world trade. This paper uses a structural approach to the gravity model framework to evaluate these hypotheses using data on trade volume over the period 1948 to 2001. We conclude that the volume and welfare effects have been negative but quite modest.

Hacia la reorganización del mecanismo de reciclaje financiero internacional

This paper analyzes the nature of the external indebtedness in which developing countries have been incurring. The thesis is proposed that the mechanism for recycling financial surpluses will not be the reproduction of the one that took place in the period 1973-1982 and some of the elements that should be taken into account in its eventual reorganization are examined. We argue that there are three effects of the crisis that are indispensable for examining the financial recycling process: Trade protectionism has become widespread and the volume of world trade has stagnated; the threatening combination of inflation-unemployment-economic stagnation has not been able to be effectively fought through the use of traditional instruments of economic policy and; The significant group interests tenaciously pursued by industrialized countries and oil exporters have not been achieved through the adoption of unilateral strategies.

Multilateral trade liberalisation, foreign direct investment and the volume of world trade

A Cournot duopoly model is used to explain the paradox that multilateral trade liberalisation has resulted in increases in both the volume of world trade and the amount of foreign direct investment (FDI).

Asia’s Role in the New United States Export Economy

The global economic crisis sent world trade volume and world production into retreat and threatened a second Great Depression. There has emerged a consensus that global imbalances – fundamentally reflected in the over-reliance upon the United States (US) consumer market – that built up over the first decade of the 21st century are no longer sustainable. Deficit regions led by the US will have to increase net exports in real terms in order to restore living standards and employment. Surplus regions, Asia, in particular, will have to rely more upon domestic demand and will have a substantial role to play as growth centers for net imports from the rest of the world. This paper examines the composition and prospects for growth of US net exports to the world and to developing Asia. We find that much of the apparent shift in export product shares was a result of the worldwide collapse in demand for high-technology products particularly new aircraft and information technology products. Nonetheless, India, ASEAN-10, and the newly industrialized economies are destinations for US high-technology products to an even greater extent than for the world as a whole. In contrast, the People’s Republic of China tends to import a lower portion of high-technology products but a larger share of agriculture-related and raw materials and energy products than the world as a whole.

Международные грузопотоки в условиях кризиса

In 2008, the world economy entered into one of the most severe crises. It exerted strong influence on international trade with the largest decline in 2009 since World War II. A detailed research of international trade made it possible to reveal goods traffic changes. Goods traffic fell slower than value and volume of world trade. Commodity’s drop varies considerably, some showed strong growth.

US INTERNATIONAL TRADE AND THE GLOBAL ECONOMIC CRISIS

The decline in world trade volume in 2009 was the worst since the Great Depression. The United States (US) spread the global recession as a major source of external demand. US import and export data are examined to understand the repercussions, particularly for developing economies divided into preferential and non-preferential trading partners. A key finding is that US trade with preferential partners contracted faster than with non-preferential partners. Case studies of autos and textiles provide insights. A new global trade deal may be the way forward as the US will have to expand net exports to restore growth.

Measuring Global Imbalances

The volume of world trade in goods and services remained some 6 per cent below its pre-crisis peak in the first quarter of 2010, but has rebounded by nearly 10 per cent since the trough reached in the second quarter of 2009. Figure 8 shows the ratio of world trade to world GDP, which plummeted by 3.2 percentage points at the height of the financial crisis. This unparalleled collapse in world trade reflected a decline in import penetration ratios (the ratio of the volume of imports of goods and services to GDP) in all the major economies, with the sharpest falls in several of the EU's new member states, as well as Hong Kong and some oil exporting economies such as Indonesia.

Ports in multi-level maritime networks: evidence from the Atlantic (1996–2006)

While maritime transport ensures about 90% of world trade volumes, it has not yet attracted as much attention as other transport systems from a graph perspective. As a result, the relative situation and the evolution of seaports within maritime networks are not well understood. This paper wishes verifying to what extent the hub-and-spoke strategies of ports and ocean carriers have modified the structure of a maritime network, based on the Atlantic case. We apply graph measures and clustering methods on liner movements in 1996 and 2006. The methodology also underlines which ports are increasing their position by carriers’ circulation patterns on various scales. This research demonstrates that the polarization of the Atlantic network by few dominant ports occurs in parallel with the increased spatial integration of this area by shipping lines.

Global Prospects and Sources of Economic Growth

Global output declined by 1 per cent in 2009, but the pace of recovery has been relatively rapid, especially in economies outside the OECD. We estimate that the level of global GDP regained its pre-crisis peak in the first quarter of 2010 (see figure A3 in the Appendix). The volume of world trade in goods and services remained some 6 per cent below its pre-crisis peak in the first quarter, but has rebounded by nearly 10 per cent since the trough reached in the second quarter of 2009 (see figure A2 in the Appendix). China remains a vital source of global demand. GDP increased by 11.9 per cent year-on-year in the first quarter of 2010, while imports of goods in US$ terms rose by more than 60 per cent over the same period. India also bears little scarring from the global crisis and the economy expanded rapidly throughout 2009. Other Asian economies, such as Taiwan, Hong Kong and Korea, have also recovered rapidly from the global recession, expanding by 6.3, 3.3 and 4.5 per cent, respectively, in the second half of 2009. Outside of Asia, Brazil and Mexico have seen a strong rebound in growth, although the level of output in Mexico remains well below its pre-crisis peak.

Effectiveness of Thailand´s Macroeconomic Policy Response to the Global Financial Crisis

This paper investigates Thailand's macroeconomic policy responses to the global financial crisis in 2009. Empirical evidence found in this paper indicates that fiscal policy is relatively less effective than monetary policy. Tax reduction is more powerful in stimulating output than government spending. Maintaining undervalued exchange rates does not create the output expansion effect. Sustained economic recovery requires growth in the world trade volume and enhanced business confidence.

The Impact of the Economic Crisis on the World’s Poorest Countries

When G20 leaders gathered in London in April 2009, they confronted the greatest challenge to the world economy since the Great Depression, as global output was falling, trade flows drying up and jobs disappearing around the world. Yet whereas the failure of world leaders to act together in the 1930s led to terrible consequences, the decisive action taken by the G20 in London – in the shape of the largest global fiscal stimulus ever – prevented the precipitous decline of the global economy into depression (G20, 2009a). Today, while the recovery is not assured, the banking system has been stabilised, industrial output is rising again across major and emerging economies, international trade is starting to recover and confidence has improved. With the process of recovery far from complete and 61 million people unemployed as a result of this crisis (ILO, 2009), we must continue to guard against complacency. Sustained assistance will be vital not only for the G20 economies, but also for the more than 160 countries that lie outside that grouping – particularly the low-income countries that are home to the ‘bottom billion’ (Collier, 2007). Far from being insulated from the financial crisis, as many observers had thought, people in these countries are finding their livelihoods – even their lives – under threat. In this article I examine the impact of the global economic crisis on these low-income countries, outline the impact of the immediate response package agreed by the G20 and suggest three priorities for collaborative global action this year in order to ensure that low-income countries are part of the recovery: reforming the World Bank; completing the Doha Round; and committing to a partnership for development in order to meet the Millennium Development Goals (MDGs) by 2015.

Estimation of world trade for used automobiles

In order to provide the basic information for building an international automobile recycling system, this article attempts to estimate the multilateral trade for used automobiles. First, the problems in evaluation of the used automobile trade were clarified through the trade data obtained from the United Nations database (UN-DB) and the Global Trade Information Services database (GTI-DB). Furthermore, we developed an estimation method for the used automobile trade using the highlighted advantages of the UN-DB and GTI-DB. The reasons for employing this estimation method were to correct the systematic errors in both databases and to sample used automobile data from the UN-DB by using the new and used automobile information in the GTI-DB. The world trade volume for used passenger cars in 2005 was estimated by the method developed. These results indicated that total trade volume was 5.65 × 106 vehicles, and that the exports from Germany, the United States, and Japan comprise 22%, 21%, and 20% of the global total, respectively. Moreover, the results indicate that these countries export used passenger cars not only to developing countries (54%), but also to developed countries (46%).

Yield Variability and Agricultural Trade

We examine how changes in yield variability affect the welfare of cereal grain and oilseed buyers and producers around the world. We simulate trade patterns and welfare for 21 countries with a Ricardian trade model that incorporates bilateral trade costs and crop yield distributions. The model shows that world trade volumes would need to increase substantially if crop yield variability were to rise. Net welfare effects, however, are moderate so long as countries do not resort to policies that inhibit trade, such as export restrictions or measures to promote self-sufficiency in crops. Low-income countries suffer the most from increases in yield variability, due to higher bilateral trade costs and lower-than-average productivity.

World Economy while Second Bretton Woods Declines and Evaluation on Developing Countries

This work is aiming primarily at discussing the thesis that the search for new currency systems in World Economy is not the reason but the result of production crisis. The approach initiated with the three works of Michael Dooley, David Folkerts-Landau and Peter Garber which are carried out since 2003, i.e. the development of “2nd Bretton Woods” monetary system, and proposals of Eichengreen, Goldstein, Kamin, McKinnon, Obstfeld, Roubini, Truman and Stiglitz, who participated in this development with their works, will be examined within the thesis in question. Mainly, the effects of these discussions to the developing countries and Economy of Turkey will be focused on. Considering that the world trade volume and movements of currency determines the type of industrialization in developing countries, labor markets and the relation between sectoral structures in developing countries and foreign capital will be discussed by proceeding from the studies which are carried out by transnational foundations such as IMF, World Bank, Unido, OECD and UNCTAD. For instance, we have to opportunity to explain, why in spite of its current accounts deficit China does not want to reduce U.S. dollars/Yuan parity to its real value and why in spite of extraordinary current accounts deficit the U.S. dollars/YTL parity in Turkey does not rise to its real value, in terms of trade and capital flows. It is not possible to say that the factors increasing and maintaining capital flows are different from the production types and industrialization periods. Therefore, we think that we can understand world monetary system or unsystematicness of it better by looking to real indicators behind interest rate parameter….

Cross-border Trade and Investment among Emerging Economies

Over the last quarter century or so, the volume of world trade grew at an average rate of 6 per cent. This increase in trade has not been homogenous among regions. Asia has been engaged in a major and admirable transformation. Latin America has pursued integration efforts for long, but with poorer results, and together with Africa it continues to rely on its resource base for growth in trade. The structure of trade in emerging market economies is analysed by examining the geographic and commodity structure of trade as well as trade integration efforts. Increases in trade can be attributed to several reasons: increased formal integration, better use of comparative advantage in relation to the advanced economies, and more complementarily among developing countries. The integration of trade in Asia is attributed largely to market forces but less so in other areas, particularly Latin America. The article also reviews the rise in Foreign Direct Investment (FDI), particularly the role of emerging countries as destinations and origins of capital flows. The flows to Asia and Latin America are equivalent to almost one-fourth of the total FDI. Within the total flows, there is a growing role of investments originating in and directed to emerging economies (EEs), particularly within Asia. FDI flows from emerging markets (EMs) are strong in mining, but the areas of investment are being diversified at a rapid pace.

Corruption and Trade in General Equilibrium

We use the HOSV model of trade to find out a link between corruption and the pattern of trade, not just its effect on the volume of trade. We prove that greater corruption in labor-abundant countries will restrict the volume of world trade while corrupt capital-abundant countries promote trade. This is caused by intermediaries who are engaged in mitigating the transaction cost of corruption. Relatively corrupt economy will export capital-intensive goods. However, relatively capital-abundant country will be worse off with increasing degree of corruption at home and abroad, whereas the labor-abundant country may gain from further corruption.

How Bad is Antidumping?: Evidence from Panel Data

Current research on antidumping suggests a number of channels through which antidumping affects the volume of world trade. This paper uses a structural approach to the gravity model framework to evaluate these hypotheses using data on trade volume over the period 1960-2001. We conclude that the volume and welfare effects have been negative, but quite modest.

World commodity trade in the globalisation processes

The real trade development is estimated by the recalculation of nominal value through unit values (prices). The unit value indices reflect, besides the change of prices, also the changes in the structure and qualitative changes of the traded products. In the 70s, the average yearly increase of unit values reached 14% and reflected namely the inflation caused by the oil shocks. Since then, it reaches in average up to 1%. We can suppose that, under the normal conditions, unit values growth is rather the consequence of the qualitative and structural changes (increased share of the more sophisticated products of processing industry), in fact, prices in international trade have been decreasing for years already. The question whether the world trade growth rates decrease or accelerate is then still open. It is certain that the world trade volume growth rate (6.3%) has shown a considerable surpass to the production growth rate (4.1%).