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This paper employs the WITS-SMART model to analyze the potential impacts of the Regional Comprehensive Economic Partnership (RCEP) on specific industries in Malaysia and China. By modifying the Armington elasticity and the parameter 'a' in the Swiss formula, five distinct scenarios are established to simulate the effects of various tariff reduction schemes. The analysis reveals positive and significant overall trade effects. In a scenario of complete tariff elimination, Malaysia experiences higher trade and welfare effects compared to China, addressing the longstanding trade deficit between the two countries. Finally, recommendations are made to gradually reduce tariffs in stages and sectors, prioritize tariff reduction on specific goods, implement zero tariffs in China first, focus on products with international competitiveness, and address potential asymmetric industrial output effects. [ABSTRACT FROM AUTHOR]

Regions worldwide are increasingly establishing customs unions, yet their impact on trade remains uncertain. This study investigates the influence of the East African Community (EAC) customs union on intra-regional trade performance, specifically assessing whether customs unions affect exports, imports, and total trade similarly. Utilizing the gravity equation of intra-regional trade spanning 2002–2021, the analysis indicates that customs unions do not exhibit a significant effect on exports, imports, or total trade. However, a detailed examination reveals varying effects across EAC partner states. While the customs union notably boosts exports in Tanzania and Burundi, it stimulates imports in Uganda, but dampens imports in Kenya. Moreover, the results are sensitive to market size metrics, with differences observed amongst countries. Notably, when market size is gauged by population, the customs union significantly impacts exports in all EAC partner states except Uganda, albeit with variations in the directions of effects. This study endeavors to comprehensively assess regional integration, employing diverse trade measurement approaches. The findings underscore a heterogeneous trade effect of customs unions, suggesting that generalized analyses may offer limited, and potentially misleading, insights into trade policy effects.

The purpose of this work is to investigate the varied effects of China's free trade zone (FTZ) strategy on agricultural trade and its underlying mechanisms. This work utilizes the propensity score matching–staggered difference-in-differences (PSM–Staggered DID) approach and synthetic control method (SCM) as its analysis methods. This study analyzes trade volume data between China and various countries alongside diverse economic indicators spanning from 1995 to 2020. The data sources include CEPII_BACI, the China Free Trade Zone Services website, the Penn World Tables, and the CEPII database. The novelty of this work lies in exploring the multidimensional heterogeneity of agricultural product trade effects in FTZs and their underlying mechanisms and extending the application of causal inference methods to the assessment of FTZs' trade effects. Empirical analysis indicates that the establishment of FTZs with partner countries has contributed to the growth of China's agricultural trade. The effects of agricultural trade resulting from China's FTZ strategy exhibit multidimensional heterogeneity in the aspects of agreement terms, years, product categories, and network positions. Specifically, when it comes to the agreement terms, FTZs negotiated by China with broader scope, deeper terms, and stronger constraints have a more significant impact on agricultural trade due to the establishment of FTZs; in terms of years, the agricultural trade effects have gradually expanded over time; in terms of product categories, China has expanded its imports of primary agricultural products and semiprocessed agricultural products from partner countries, thus augmenting its exports of horticultural agricultural products and processed agricultural products. In terms of network positions, China, as a hub country, has greater agricultural trade effects than partner countries after the establishment of the FTZs. Finally, the paper proposes policy recommendations for optimizing the implementation strategy of FTZs. [ABSTRACT FROM AUTHOR]

Regions worldwide are increasingly establishing customs unions, yet their impact on trade remains uncertain. This study investigates the influence of the East African Community (EAC) customs union on intra-regional trade performance, specifically assessing whether customs unions affect exports, imports, and total trade similarly. Utilizing the gravity equation of intra-regional trade spanning 2002–2021, the analysis indicates that customs unions do not exhibit a significant effect on exports, imports, or total trade. However, a detailed examination reveals varying effects across EAC partner states. While the customs union notably boosts exports in Tanzania and Burundi, it stimulates imports in Uganda, but dampens imports in Kenya. Moreover, the results are sensitive to market size metrics, with differences observed amongst countries. Notably, when market size is gauged by population, the customs union significantly impacts exports in all EAC partner states except Uganda, albeit with variations in the directions of effects. This study endeavors to comprehensively assess regional integration, employing diverse trade measurement approaches. The findings underscore a heterogeneous trade effect of customs unions, suggesting that generalized analyses may offer limited, and potentially misleading, insights into trade policy effects. [ABSTRACT FROM AUTHOR]

India's pharmaceutical sector has been one of the largest manufacturers of generic drugs globally. During the pandemic, most countries were dependent on imports of generic drugs from India. However, India has been relying on resources from China for Active Pharmaceutical Ingredients (APIs) which are the raw material for preparing generic drugs. We considered, in our analysis, branded product groups of Paracetamol and Amoxicillin due to their extensive use in the treatment of COVID-19. From a thorough market analysis of both the drugs, we conclude that firms have a monopoly over their brands but compete within the same product group and operate in their respective market under varying prices within certain bandwidths which resembles the feature of monopolistic competitive market. We have introduced compensating function a la Helpman (1981) in the pharmaceutical goods market with the assumption that an 'ideal product' exists among the pharmaceutical goods. Given the framework, this paper explores a general equilibrium model set in a monopolistic competitive product market for branded drugs. We concluded through our propositions that expanding the pharmaceutical sector will increase the employment of unskilled labor under no capacity constraint. We will observe an increase in wages of unskilled labor only under full employment conditions wherein we would observe that the expansion of pharmaceutical good will increase wages in the unskilled labor market. However we obtain an intriguing result wherein we obtain that despite instances of limiting trade dependence on China through implementation of policies like 'Aatmanirbhar Bharat' and 'profit linked incentive schemes', yet to maintain the status quo in the global market for generic drugs, India's dependence on China would increase, owing to API imports due to the pandemic crisis. While India can grab the opportunity in the form of increased demand for pharmaceutical goods to increase the employment level of the economy but this improvement in welfare is also dependent on the degree of dependency of API India has on China. The Indian government has recognized the same through the incorporation of 'Covid-Suraksha' and PLI schemes to minimize import dependency, and accelerate the development of APIs and the production of indigenous drugs. [ABSTRACT FROM AUTHOR]

Copyright of Secretary (16742354) is the property of Secretary Editorial Office 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.)

This paper assesses the impact of the 2021/22 maritime shipping disruptions on US tree nut exports and domestic inventories. Using detailed trade data for almonds, pistachios, and walnuts and counterfactual empirical methods that account for treatment dynamics, we estimate the trade response to maritime shipping disruptions at the US port and commodity level. We find that tree nut shipments were 457 million pounds or $943 million below the counterfactual between May 2021 and July 2022. Almonds experienced the brunt of those trade losses, while pistachio and walnut exports recorded smaller losses and recovered faster. Our estimates imply that maritime shipping disruptions are a primary driver of surging tree nut inventories. Without the trade destruction caused by maritime shipping disruptions, the almond inventory could have been 38.7% lower and close to the long‐run average in the 2021/22 marketing year. [EconLit Citations: F14, Q17]. [ABSTRACT FROM AUTHOR]

With the deepening of the Belt and Road Initiative, China is increasingly attaching importance to more open and high-level trade cooperation with countries along the Belt and Road. In this context, the signing of free trade agreements is an important way to further strengthen China's trade cooperation with the Belt and Road countries along the route. However, as of June 2020, more than 100 countries have participated in the Belt and Road Initiative, but only 18 countries including the ASEAN, Chile, Pakistan, New Zealand, Peru, Costa Rica, South Korea, Maldives and Georgia have signed FTA with China. Since the Belt and Road Initiative was proposed in 2013, only three countries including South Korean, Maldives and Georgia have signed FTA with China. Using the panel data at the national level from 2000 to 2018, this paper uses a double difference model to assess the real impact of the signing of free trade agreements on bilateral trade between China and countries along the Belt and Road, and further analyzes the heterogeneity effect and its mechanism under different levels of rule of law. The results show that:(1)the signing of free trade agreements significantly promotes the bilateral trade between China and its partners along the Belt and Road; moreover, it plays a greater role in promoting bilateral trade between China and partner countries with higher legal level along the Belt and Road.(2)The signing of FTA has a heterogeneous impact on bilateral trade between China and partner countries with different rule of law levels along the Belt and Road through four mechanisms including economic scale, technological innovation, foreign exchange reserves and trade cost from three aspects: demand side, supply side and supply and demand transaction. Free trade agreements promote bilateral trade with China mainly by expanding economic scale, increasing foreign exchange reserves and reducing trade costs among partners with higher legal level along the Belt and Road, but fail to promote bilateral trade by promoting technological innovation. However, in the partner countries with lower rule of law along the Belt and Road, the failure to adopt these four mechanisms has a significant impact on bilateral trade. Compared with previous literature, this paper has expanded in the following two aspects: firstly, from the unique perspective of the level of rule of law, a key mechanism that affects the signing of free trade agreements is built. This paper examines the heterogeneous impact of the signing of free trade agreements on bilateral trade between China and countries with different levels of rule of law along the Belt and Road; Secondly, based on the complete analytical framework of demand side, supply side and supply and demand transaction, this paper combs the impact mechanism of free trade agreements on bilateral trade, and makes a breakthrough in examining the impact mechanism of signing free trade agreements on bilateral trade between China and countries with different levels of rule of law along the Belt and Road from the perspective of heterogeneity at different levels of rule of law by using the intermediary effect analysis method. The research in this paper verifies the positive effect of signing free trade agreements on bilateral trade between China and countries along the Belt and Road, and strongly reveals the reasons why free trade agreements have heterogeneous effects on bilateral trade between China and countries along the Belt and Road at different levels of rule of law, It provides reliable reference evidence and targeted experience enlightenment for how to adopt strategies to better promote the signing of free trade agreements between countries along the Belt and Road and China, as well as the development of bilateral trade. [ABSTRACT FROM AUTHOR]

The purpose of this work is to investigate the varied effects of China’s free trade zone (FTZ) strategy on agricultural trade and its underlying mechanisms. This work utilizes the propensity score matching–staggered difference-in-differences (PSM–Staggered DID) approach and synthetic control method (SCM) as its analysis methods. This study analyzes trade volume data between China and various countries alongside diverse economic indicators spanning from 1995 to 2020. The data sources include CEPII_BACI, the China Free Trade Zone Services website, the Penn World Tables, and the CEPII database. The novelty of this work lies in exploring the multidimensional heterogeneity of agricultural product trade effects in FTZs and their underlying mechanisms and extending the application of causal inference methods to the assessment of FTZs’ trade effects. Empirical analysis indicates that the establishment of FTZs with partner countries has contributed to the growth of China’s agricultural trade. The effects of agricultural trade resulting from China’s FTZ strategy exhibit multidimensional heterogeneity in the aspects of agreement terms, years, product categories, and network positions. Specifically, when it comes to the agreement terms, FTZs negotiated by China with broader scope, deeper terms, and stronger constraints have a more significant impact on agricultural trade due to the establishment of FTZs; in terms of years, the agricultural trade effects have gradually expanded over time; in terms of product categories, China has expanded its imports of primary agricultural products and semiprocessed agricultural products from partner countries, thus augmenting its exports of horticultural agricultural products and processed agricultural products. In terms of network positions, China, as a hub country, has greater agricultural trade effects than partner countries after the establishment of the FTZs. Finally, the paper proposes policy recommendations for optimizing the implementation strategy of FTZs.

We study the impact of economic sanctions on international trade in the mining sector. We demonstrate that the gravity equation is well‐suited to model bilateral trade costs in mining and find that sanctions have been effective in impeding mining trade. Complete trade sanctions have reduced mining trade by about 44% on average. We also document significant heterogeneity in the sanctions effects on mining trade across industries, sanction episodes/cases, depending on the sanctioning and sanctioned countries, the type of sanctions, and the direction of trade. We take a close look at the impact of recent sanctions on Iran and Russia. [ABSTRACT FROM AUTHOR]

This study examines the trade effects of the Eurasian Economic Union on global production sharing. We use a panel dataset of bilateral exports of intermediate goods, parts and components and final assembly for 12 Eurasian countries with 28 partners for 2000–18. We estimate a gravity model using the Poisson Pseudo Maximum Likelihood method to mitigate zero trade values and heteroskedasticity issues. Our analysis provides new empirical evidence on significant net trade creation effects of 111% in intermediate goods exports due to EAEU formation. Our findings also highlight that a substantial share of the increase in intermediate goods exports originates from trade creation in final assembly exports while parts and components show net trade diversion effects. Further, a country-level analysis reveals that the trade effects of EAEU are heterogeneous across all the members, with Armenia and the Russian Federation benefiting the most and the Kyrgyz Republic benefiting the least from the EAEU formation. Our study has important policy implications on promoting production sharing in the Eurasian region and hence remains of interest to policymakers. [ABSTRACT FROM AUTHOR]

The growing global popularity of South Korea’s culture, known as the Korean Wave, has contributed to the country’s economic growth by increasing not only the exports of its cultural goods but also pulling other types of exports. Using the theory of dynamic cultural proximity in international trade, this paper shows empirically that South Korea’s cultural exports multiply the exports of its consumption goods to Europe where traditional cultural ties with Korea are weak. Examining the panel data of four decades disentangles the positive effect of the country’s cultural exports that concurs with the emergence and advancement of the Korean Wave. This finding highlights the role of South Korea’s cultural exports in stimulating European consumers’ preferences for products ‘made in Korea’. [ABSTRACT FROM AUTHOR]

This study examines the effects of the Eurasian Economic Union (EAEU) on global production sharing and trade in parts and components. With a panel dataset of disaggregated bilateral exports of EAEU members and 28 partners, we estimate an augmented gravity model for 2010–2017. To mitigate endogeneity issues, we employ the Hausman and Taylor Estimator. The study has two important findings. First, there are significant trade diversion effects on the exports of parts and components. Second, the formation of EAEU has resulted in a reduction in intra-bloc exports. In addition to these, we find that market size, inter-country differentials of income, business-friendly climate, and cultural similarities are the other significant determinants of bilateral trade. Based on the empirical analysis, we propose that the EAEU normalise the Common External Tariff below the current level to minimise trade diversion. [ABSTRACT FROM AUTHOR]

The Democratic Republic of Congo (DRC) in 2019 expressed interest in joining the East African Community (EAC) regional bloc to tap into the benefits of the regional trade and expanded markets. Using the SMART-WITS Model simulation approach, this study examines the likely trade effects of DRC's membership to the EAC. The results reveal that trade effects are positive among the EAC partner states, more so for Rwanda and Uganda, given that there are the current leading EAC exporters to DRC. Specifically, DRC's membership to the EAC increases exports of Rwanda by USD 81 million, Uganda (USD 60 million), Tanzania (USD 50 million), Kenya (USD 42 million) and Burundi (USD 6 million), Tanzania (USD 50 million), Kenya (USD 42.5 million) and Burundi (USD 6 million). The positive trade effects are attributed to trade creation (due to new exports by EAC to DRC initially sourced from non-EAC countries) rather than trade diversion. In terms of trade growth shares, it is estimated that free trade with DRC increases the current trade with Uganda by 30 percent, 24 percent for Rwanda, 34 percent for Tanzania, 29 percent for Kenya and 33 percent for Burundi. The main economic sectors/industries poised to benefit from DRC membership are agro-processing, metal products (mainly iron and steel) and mineral ores industries. Overall, the potential entry of DRC into the EAC calls for strategic investments in these industries while addressing Non-Trade Barriers (NTBs) such as poor infrastructure and insecurity in DRC. [ABSTRACT FROM AUTHOR]

The world economy has witnessed a rise use of antidumping (AD) and countervailing (CV) duties in recent years. Using a computable partial equilibrium model, this article simulates the economic and welfare impacts of the US’s AD/CV duties on photovoltaic (PV) products imported from China and Taiwan in 2015. The result shows that the AD/CV duties have significant trade destruction and trade diversion effects, relatively moderate trade deflection and depression effects. In the context of globalization, the AD/CV duties have limited remedial effect on the US PV industry, but the United States bears the biggest welfare loss for its AD/CV duties. [ABSTRACT FROM AUTHOR]

Background: Using the partial equilibrium WITS-SMART Simulation model to assess the impact of liberalisation under the Trade Development and Cooperation Agreement (TDCA) of a free trade area between the European Union and South Africa. The identification of the impact of such agreement allows for trade policy negotiation adjustment that can be beneficial for South Africa. Aim: The aim of the study is to estimate and discuss the impact of a Free Trade Agreement (FTA) with the European Union and South Africa. More specifically, the study intends to estimate the impact of revenue, welfare, imports, exports, trade creation and to come up with policies options for South Africa that can be used in negotiations and policy formulations. Setting: The study used international trade data (2012) available in the WITS-SMART model to assess bilateral trade agreement between the European Union and South Africa. Methods: To identify the impact on revenue, welfare, imports, exports and trade creation, the study simulated an FTA (0% tariff rate) for all goods exchanged between the European Union and South Africa. Also, the elasticity of substitution used for the simulation model was 99%. Results: The findings of the study reveal that total trade effects in South Africa are likely to surge by US$ 1.036 billion with a total welfare valued at US$ 134 million. Dismantling tariffs on all European Union (EU) goods would be beneficial to consumers through net trade creation. Total trade creation would be US$ 782 million. However, South African producers are likely to contribute a trade diversion of US$ 254 million which has a negative impact on consumer welfare. The country might also experience a revenue loss amounting to US$ 562 million because of the removal of tariffs. In trade, the country’s exports and imports to the EU are expected to increase by US$ 12.419 million and US$ 1.266 million, respectively. Conclusion: The European Union–South Africa FTA would result in both trade creation and trade expansion effects. However, trade creation and revenue loss are potential threats. In order to mitigate revenue loss, government needs to consider alternative tax such as consumption tax on certain goods and value-added tax.

It is known that within trade relations providers often credit customers for the value of goods or services which are the subject of conducted commercial transactions, this aspect being materialized in the issuance and acceptance of a trade effect. From the time of acceptance until maturity / settlement, trade effects should be reflected separately in the accounts and, to the extent that were not settled until the end of exercise, their value must be presented in the financial statements. Based on analysis of the Romanian accounting regulations, also taking into consideration the opinions expressed in specific literature concerning accounting reflection of trade effects, in this article we try to point out some aspects which, in our opinion, require clarification. We also want to point out some contradictions / inconsistencies regarding the reporting of information on the trade effects, specifically between the text of accounting regulations concerning the definition of accounting structures „cash and bank accounts” and “short term investments” and their contents when presented as positions in the balance sheet structure. In relation to the issues raised we try to prove the effects on the indicators concerning financial position and to make some suggestions that would have effects on Romanian accounting regulations, namely the improvement of financial reporting performed by the economic operators.

The paper examines the competitive devaluation policy effects on the East Asia’s trade for the period of 2000–2011. The author obtained quantitative estimation of the currency policy trade effects with the help of panel data regression analysis (using export and import data of the following countries: China, Japan, Indonesia, Malaysia, Vietnam, Thailand, the Philippines and the Republic of Korea). The article includes investigation of the following foreign trade flows: total, intra-regional and out- of-regional exports and imports of merchandise. The study reflects the fact that the competitive devaluation policy of ASEAN+3 countries negatively affects the out-of-regional exports and imports, as well as the total imports. Simultaneously such exchange rate policy measures have no effect on intra-regional trade

The Korean government has officially recognized China as a full market economy. This paper investigates the impact of grantingThe Korean government has officially recognized China as a full market economy. This paper investigates the impact of granting market economy status to China on antidumping (AD) duties and imports. With regard to non-market economies (like China), it is presumed that prices and costs are influenced by state interference and, therefore, authorities use prices and costs from a third party economy to construct normal values. This, however, leads to higher dumping margins. This paper examines the use of Non-Market Economy (NME) on dumping margins and statistical analysis finds that NME, in fact, raises margins by 18.7∼27.3%. Furthermore, the imposition of AD duties significantly restrains trade; for example, a 10% AD duty causes imports to fall by about 1.5~3.4%.

This article studies the pre-accession experience of new European Union member states of Central and Eastern Europe and accordingly examines the prospects for a convergence of Ukraine’s economic performance with that of the EU countries. The authors develop econometric models to evaluate the trade and foreign direct investment (FDI) effects of EU-accession for Ukraine. The trade potential between Ukraine and the EU is assessed based on the gravity model of international trade using economic distance indexes. The FDI effects are analyzed according to an econometric data panel model. The article also examines the benchmarks of Ukraine’s convergence with the EU in terms of trade volume and FDI potential values.

Summary In this paper we analyze the impact of private food standards on the export performance of asparagus export firms in Peru. We use 18-year panel data from 87 firms and apply fixed effects and GMM models. We do not find any evidence that certification to private standards in general and to specific individual private standards, has an effect on firms’ export performance, neither at the extensive margin nor at the intensive margin, and neither on export volumes nor on export values. Our case-study results imply that private standards do not act as a catalyst to trade. [ABSTRACT FROM AUTHOR]

The European Union and Turkey have decided recently to work toward upgrading their Customs Union with a view to include, inter alia, agricultural products in the agreement. This paper investigates the likely trade and welfare effects of this inclusion on Turkey and the European Union. For this purpose, a partial equilibrium simulation tool is used on the basis of two different trade policy scenarios. The first scenario is a liberalization policy which could be assumed by the parties under the Doha multilateral trade negotiations. The other scenario is a full liberalization by the inclusion of agricultural products in the Customs Union. The results of the study reveal that Turkey could be more adversely affected compared to the European Union in terms of trade and economic welfare. Turkey would witness significant increase in agricultural imports from the European Union and in consumers' economic welfare, while its customs revenue decline substantially. Turkey is advised to adopt a progressive liberalization policy by starting with the primary agricultural goods that could be mostly affected. Bilateral negotiations should also address non-tariff barriers concerning the market access of Turkish agricultural exporters to the European Union. [ABSTRACT FROM AUTHOR]

One of the central debates surrounding the design of the European Union Emissions Trading Scheme is the approach to address carbon leakage concerns. Correctly identifying the economic activities exposed to the risk of carbon leakage represents the first step in mitigating the risk effectively. This paper assesses the robustness of the quantitative assessment criteria used by the European Commission for Phase 3. For example we apply the criteria to data for UK and Germany and compare the results with the Commissions' assessment conducted at the aggregated EU level. This reveals that sectors' exposure risk to carbon leakage can vary across different Member States due to differences in production processes, technologies and fuel mix; process emissions; recycling rate differences; product mix differences; sector classification, statistical boundaries, activity allocation differences; and finally difference in data quality. Overall, we find that relative carbon intensity of sectors, measured as cost increase relative to gross value added, provides a robust metric. The analysis also highlights the importance of using high quality and disaggregated data for this assessment. [ABSTRACT FROM AUTHOR]

The U.S. meat products industries have experienced increasing consolidation. It has been speculated that this has resulted from cost economies, perhaps associated with technical change or trade factors. It has also been asserted that increased concentration in these industries may be allowing the exploitation of market power in the input (livestock) and output (meat product) industries. These issues are addressed for the four digit SIC meat and poultry industries. Findings show that the beef and pork products industries tend to have similar structures, which differ from the poultry industries. None of the industries, however appear to have exhibited excessive market power, particularly when scale economies (diseconomies), and resulting reductions (increases) in marginal cost from output expansion, are taken into account. Also, technical change and trade (especially export market) trend impacts seem overall to have contributed to cost efficiency.

Copyright of Ekonomia XXI Wieku is the property of Uniwersytet Ekonomiczny we Wroclawiu 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.)

This article assesses the trade effects of anti-dumping (AD) duties levied on 177 (8-digit) products by India during the period 1994 to June 2001. A panel regression has been applied to quantify the effects of AD actions on import volumes, values, and prices. It finds that the investigation effects of AD actions are not substantial. The imposition of AD duties restrains trade (both volume and value) and raises import prices. While trade effects start dissipating in subsequent years, import prices from both named and unnamed countries rise significantly in the post-duty years. There is little evidence that trade is diverted from unnamed to named countries. Thus, the domestic industry is benefited due to the price rise. Their financial position improves at the expense of both consumers and downstream industries. Since anti-dumping is an expensive form of protection, only large and dominant producers in concentrated industries emerge as the major beneficiaries of this protection. Finally, the developing trade partner countries suffer significant import losses when named. However, the trade destruction effect is insignificant for developed countries. Even though the unit value of their imports rises, there is no evidence of decline in trade from these countries. [ABSTRACT FROM AUTHOR]

The economic integration of North America is a kind of NORTH-SOUTH economic integration. There is a hot debate about whether the NORTH-SOUTH economic integration really has equal trade effects on the member states. We have analyzed the changes of United States and Mexico's trade flows in NAFTA and CUSTA and the empirical results show that: the North America economic integration is totally more conducive in trade growth of the United States, rather than in favor of Mexico, and this income gap is growing. Therefore, when the developing countries takes part in the NORTH-SOUTH regional economic integration, it should adjust the domestic industrial structure, on the one hand, and gradually open up its markets, on the other hand. [ABSTRACT FROM AUTHOR]

In the present paper, anti-dumping (AD) duties levied by the European Commission against products from ASEAN countries in the period 1991–2001 have been considered. The ASEAN countries were among the countries most targeted by AD measures imposed by the EU in the 1990s. A panel regression has been applied to estimate the impact of AD duties on trade in some 12 products that have been subject to AD duties targeting ASEAN countries in the period considered. A significant negative impact of AD duties is found, on both the value and the quantity of imports from ASEAN countries. Our estimation provides some (although not overwhelming) indications of trade diversion in favor of EU countries, but no evidence of trade diversion in favor of non-targeted non-EU countries. [ABSTRACT FROM AUTHOR]

The U.S. meat products industries have experienced increasing consolidation. It has been speculated that this has resulted from cost economies, perhaps associated with technical change or trade factors. It has also been asserted that increased concentration in these industries may be allowing the exploitation of market power in the input (livestock) and output (meat product) industries. These issues are addressed for the four-digit SIC meat and poultry industries. Findings show that the beef and pork products industries tend to have similar structures, which differ from the poultry industries. None of the industries, however, appear to have exhibited excessive market power, particularly when scale economies (diseconomies), and resulting reductions (increases) in marginal cost from output expansion, are taken into account. Also, technical change and trade (especially export market) trend impacts seem overall to have contributed to cost efficiency. [ABSTRACT FROM AUTHOR]

This paper uses 2018 data as a benchmark to build a numerical 26-country global general equilibrium model with trade cost and an endogenous trade imbalance structure. We assume that COVID-19 will increase the trade cost between countries and decrease labor supply in production. We use China's trade data from January to April in 2020 to calibrate the influence level parameters and then simulate the trade effects of COVID-19 in China, the EU, the US, and the world. Our simulation results find that all countries' trade and exports will be significantly hurt by the pandemic. Due to the trade diversion effect and the price growth effect, some countries will see an increase in import trade. Comparatively, the pandemic has the most negative impact on global trade, followed by the EU, the US, and China. As the pandemic deepens, the negative impact on trade will increase. The worldwide pandemic has the most significant impact on US trade, with an effect about 1.5 times that of the average world effect., (© 2021 Elsevier Inc. All rights reserved.)