Search

Scholars have given enormous attention to the roles of energy use and trade in economic growth strategies; however, recent international trade literature suggests that not merely the volume of trade but the diversification of goods may have a potential effect on economic growth. Thus, this paper uses the diversification of export goods and diversification of import goods as explanatory variables along with energy consumption and assessed the role of these important variables in economic development. The empirical results from Westerlund's (J Appl Econom 23:193–233, 2008) and Westerlund's (Oxf Bull Econ Stat 69:709–748, 2007) tests disclosed the existence of cointegration. The long-run estimations obtained from the CUP-FM technique revealed that both import and export product diversifications positively influence economic growth. This presents a vital opportunity for emerging nations to expand growth by diversifying export and import products. Likewise, energy use, labor, and capital contribute to increasing economic growth. The estimates from the causality test illustrated bidirectional causality between export diversification and economic growth and unidirectional causality from energy to export diversification. Finally, policy suggestions to expand economic progress are discussed. [ABSTRACT FROM AUTHOR]

Research and Development (R&D) is the common denominator of innovation and technological progress, supporting sustainable development and economic growth. In light of the availability of new datasets and innovative indicators, in this work, we introduce a novel perspective to analyse the international trade of goods through the lenses of the nexus R&D-industrial activities of countries. We propose two new indices, RDE and RDI, summarizing the R&D content of countries' export and import baskets—respectively—and investigate their evolution in time, during the period 1995–2017, and space. We demonstrate the potential of these indices to shed new light on the evolution of R&D choices and trade, innovation, and development. In fact, compared to standard measures of countries' development and economic growth (e.g., the Human Development Index among the others tested), these indices provide complementary information. In particular, tracing the trajectories of countries along the RDE-HDI plane, different dynamics appear for countries with increased HDI, which we speculate can be reasoned with countries' availability of natural resources. Eventually, we identify two insightful applications of the indices to investigate further countries' environmental performances as related to their role in international trade. [ABSTRACT FROM AUTHOR]

The relationship between economic growth and foreign trade was put in focus by many economists when foreign trade developed. The case of Free Trade is always associated with significant positive effects on foreign trade and economic growth. This paper explains the relationship between trade liberalization, foreign trade, and economic growth in Albania using annual economic development data for 1994-2019. This study is based on hypotheses for Causality Testing concerning the cointegration between GDP and foreign trade, trade liberalization and GDP, and GDP and exports in Albania. The ordinary least squares (OLS) model has been used. Empirical results for the Albanian case show that trade liberalization has a positive relationship with economic growth, exports, and imports. However, the multiple regression proved that GDP, Openness Index, FDI, and remittances positively impacted trade volume growth. [ABSTRACT FROM AUTHOR]

Increased international trade flows and reduced trade restrictions have sparked ongoing debate and discussion about the influence of international trade on economic progress. Based on the empirical evaluation, the paper investigates the impact of trade openness on Kazakhstan's economic growth in a multivariate framework. It includes investment, international trade, labour force, human capital, and natural resource as explanatory constructs when gross domestic product per capita is the regressand variable. This research aims to assess the long-term relationship between trade and income development in Kazakhstan from 1992 to 2020. The Phillips and Perron (1988) and augmented Dickey and Fuller (1981) tests are used to check data stationarity. Because the data is stationary of orders I(0) and I(1), an autoregressive distributed lag model appears feasible. The bound test shows that the concerned variables have a long-term relationship. The results conclude that trade negatively impacts growth in the short and long run. While capital formation, labour quantity, quality, and natural resources positively affect the development of Kazakhstan's economy. This negative impact of trade on growth could be attributed to the country's shortage of good institutions and inefficient management, economic structure, and development policies. Also, it could be due to the substantial negative impact of imports countering the positive effect of exports. [ABSTRACT FROM AUTHOR]

We develop a structural decomposition analysis (SDA) to identify the importance of mid-high and high technological intensity (MH&HT) manufacturing and services to the changes in gross output for Brazil and Mexico between 2000 and 2014. We break down the output changes in the composition and level of final demand, the production technique (technical coefficients), and the trade pattern (share of imports in the total supply of inputs and final goods). The results show that the MH&HT importance tends to be pro-cyclical in the two economies, increasing during periods of more remarkable economic growth (2000-2008 for Brazil and 2010-2014 for Mexico). This relation tends to be perceived for manufacturing and less so for services. [ABSTRACT FROM AUTHOR]

This academic paper investigates the intricate relationship between macroeconomic policies, international trade practices, and sustainable development within the context of Sustainable Development Goal 12 (SDG12), which emphasizes sustainable consumption and production. The objective is to explore a path towards sustainable economic growth that strikes a balance between economic progress and ecological sustainability. The study conducts a comprehensive analysis of the challenges and opportunities involved in aligning macroeconomic and trade policies with the principles of SDG12. It draws on a meticulous review of literature, academic discourse, empirical evidence, and various case studies from different countries. Methodology: The research methodology entails an extensive review of pertinent literature to establish theoretical foundations and validate findings through empirical evidence. The study incorporates insightful case studies to exemplify successful approaches employed by nations at the intersection of macroeconomic policies, international trade, and sustainable development. Rigorous and systematic analysis drives the exploration of prospects and obstacles surrounding sustainable economic growth. Practical Results: The paper presents practical results derived from the analysis of case studies, showcasing successful strategies employed by diverse countries in harmonizing economic growth with environmental sustainability. These results offer valuable insights and replicable blueprints for other nations seeking to balance economic progress with SDG12 principles. The study identifies potential areas of conflict and collaboration between macroeconomic and trade policies concerning sustainable development. Conclusions: In conclusion, achieving sustainable economic growth requires coherent policy formulation, aligning macroeconomic and trade strategies with SDG12. The paper proposes specific, implementable policy recommendations to guide countries towards a sustainable trajectory of economic growth while upholding environmental preservation. Emphasizing the significance of cohesive policy frameworks, the study underscores the potential for building a robust, sustainable global economy that addresses growth and environmental conservation in unison. Policymakers can draw from these insights to advance the broader objective of promoting sustainable consumption and production globally. [ABSTRACT FROM AUTHOR]

Copyright of Comparative Economic Research is the property of Wydawnictwo Uniwersytetu Lodzkiego and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Trade and globalization are vital means of economic development for any country, and they have played a major part in Ghana's and the African continent's development (World Bank 2015). However, simple trade openness does not guarantee a country's human development. Even a substantially enhanced and liberalized total trade cannot guarantee economic growth, and the positive impact of trade on growth is strongly reliant on the economic structure, institutions, and other social elements of a country. Economic growth, on the other hand, is a necessary but insufficient prerequisite for human progress. Instead of producing jobs, poverty reduction, participatory, culturally protected, and eco-friendly growth, it might be unemployed, cruel, voiceless, rootless, and futureless. This type of expansion is harmful to human development (Akmal et al. 2007). The motivation for evaluating the triangulation of trade, economic growth, and human development is the contribution of trade liberalization to economic growth and the contribution of economic growth to human development, with the study focusing on the trade-human development relationship as the third side of the triangle. Furthermore, the impact of international trade on human development in Ghana will be investigated in this study. [ABSTRACT FROM AUTHOR]