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Using a transaction-level analysis of 1,040 small lumber exporters from 52 countries, we develop and test a framework wherein internationalizing entrepreneurs pair affordable loss logics (ALL) with real options reasoning (ROR) to generate value-creating opportunities while substantively forestalling the unfavorable impacts of trade partner opportunism. Through this, our study extends the literature on international market entry by identifying novel mechanisms employed by entrepreneurs to navigate the cross-currents lying between opportunity and opportunism. In addition, we offer fresh insights to the ongoing debate concerning the applicability ROR to business venturing contexts. By bridging ROR and ALL, our study extends and enhances efforts to apply ROR as a descriptor and predictor of market entry decisions.

The WTO Trade Policy Review Body met virtually on 11 and 13 March 2020 to review Australia's trade policies. The meeting took place as Australia was completing three decades of uninterrupted economic growth and as the run was being ended by COVID-19 and associated lockdowns. This paper provides a commentary on the Review. It begins by examining the evolution of Australia's trade policies, with emphasis on the period covered by the TPR, 2015-19. The second section evaluates the discussion at the TPR meeting, when WTO members raised questions about the policies described in the Review and the Australian delegation responded. The third section considers developments in the year after the meeting. The paper concludes that, despite its stellar economic performance in the three decades before COVID and strong record on trade liberalisation within and beyond the WTO, Australia faces a difficult post-COVID policy environment. The final section focuses on two challenges: rapidly deteriorating relations with China, Australia's largest trade partner, and the impact of climate change policies.

Purpose The purpose of this study is to empirically analyze if a bilateral trade between two countries leads to a foreign direct investment (FDI) using a time series data spanning over the period 2000–2017. Design/methodology/approach The Engle-Granger method of co-integration analysis is applied to the data to estimate if China’s export to Ethiopia led to an inflow of FDI from China to Ethiopia over the long run. Findings The results indicated that bilateral trade (import from China) is a major determinant of Chinese FDI inflow to Ethiopia over the study period. Originality/value A number of studies have been conducted on the determinants of FDI in Ethiopia using time series data at different points of time. However, none of them tried to analyze what attracts FDI from an individual country. Accordingly, this study has concentrated on FDI from China and its relation with bilateral trade between China and Ethiopia as China is the number one FDI source and trade partner of Ethiopia.

This study empirically examines the impact of business environments on trade partners’ economic growth using the Ease of Doing Business Score of the World Bank’s Doing Business project for 2004–201...

The aim of this paper was to examine export determinants of Ethiopian coffee to 31 trade partners? countries. The export determinants were examined using a dynamic gravity model and system generalized moment method of estimation from a year 1998-2016. The results of the descriptive analysis showed that Ethiopia was ranked fifth in terms of production and exports of coffee in the world and was also exporting only 39% of its total coffee production. On average, 53.5 and 34.13 percent of Ethiopian coffee exports were directed to European and Asian countries respectively over the period 1998-2016. The regression result of system generalized moment method revealed that trade openness, population size of Ethiopia, foreign direct investment and institutional quality index of Ethiopia has positively and significantly affected the volume of Ethiopian coffee export. But, population of partner countries, weighted distance, lagged export volume and real exchange rate had negatively and significantly influenced the export volume of Ethiopian coffee. Hence, Ethiopia needs to diversify its export destinations and export items a way from primary products to secondary products in order to secure dependable source of foreign currency. As well, improving the institutional quality, promotion of foreign direct investment and swelling trade liberalization would help to boost the volume of Ethiopian coffee export.

In the mid-1960s, the Japanese government brought a technology focus to its relations with the United States, aiming to build respect for Japan as an equal partner in world affairs, as well as a source of high-quality industrial products. Efforts to replace its identity as an impoverished and defeated enemy with that of Cold War ally, trade partner, and industrial competitor were constrained by Americans' preconceptions and the particular functions of technology in international relations. The U.S. government engaged in its own technopolitics, mobilizing American technical knowledge to push Japanese policy in desired directions. This article highlights the difficulty of using technology as a tool of diplomacy by examining its role in U.S.-Japanese relations through a popular cultural initiative and top-level diplomatic discussions.

This article explores the territorial extension of the EU environmental law and how the EU uses its market powers to become global regulatory initiatives in the context of environmental protection. The legitimacy and practical influence of the global reach of the EU environmental law is first to be discussed. Taiwan, as a significant trade partner to the EU and also a critical exporting-oriented industrial entity in the world, has been heavily influenced by the EU environmental law development for the sake of gaining market access to the EU. In this regard, this article provides an overview of the EU environmental law. This article will provide a case study on the territorial effects of the EU environmental law on Taiwan and the responsive actions taken by the government and industries in Taiwan. This article recognizes the importance of the EU to achieve legitimate global values in the context of global environmental protection.

China is Poland’s largest Asian trade partner. Increased trade in recent years, combined with a visible growth of interest in Asian cultures, has contributed to the development of the Polish translation industry, especially in the Polish-Chinese language pair. Although the number of sworn translators registered with the Ministry of Justice remains small (16), the dynamic increase in the number of people dealing with regular translations makes similar services more and more available. The article aims to outline the general situation of Chinese translators in Poland. The methodological basis of the article is a survey conducted in August 2018, in which 67 respondents took part, who declared themselves translators in the aforementioned pair of languages. The survey consisted of 17 questions to which one or more answers could be given. Respondents were asked about the most frequently translated content, aids, and materials used at work, as well as the particularly difficult topics. The image that emerges from these data allows an assessment of the maturity of the industry and the prospects for its further development.

The paper seeks to address the growing inequality in wages between skilled and unskilled workers and between male and female workers in India due to a growing import surge from China. The study on wage movements of skilled versus unskilled workers helps us to understand how imports from India’s largest trade partner have contributed to relative factor returns in the country’s most abundant factor of production. The consideration of wage divergence between male and female workers helps us in determining how significant China’s trade is in addressing gender inequality in India’s labour market. Our analysis reveals that the import surge from China has minor effects on the growing wage difference between skilled and unskilled workers. However, the effect of the Chinese import surge on wage divergence between male and female workers is significant. The existing literature on the effects of international trade on India labour market is largely silent on the considered aspects.

Az Egyesult Kiralysag kivalasaval az Europai Uniobol (tehat a Brexittel [British exit – brit tavozas]) olyan kereskedelmi es gazdasagi kerdesek merulnek fel, amelyek az osszes tagallamot erintik. Az Egyesult Kiralysag ugyan nem tartozik Magyarorszag jelentős kereskedelmi partnerei koze, Nemetorszagnak viszont igen, amely fontos szerepet tolt be hazank kulgazdasagi kapcsolataiban. Jelen tanulmany celja az, hogy egy vektor-hibakorrekcios modellel, makrogazdasagi es kulkereskedelmi mutatok alapjan azonositsa a Brexit lehetseges kozvetlen es kozvetett (a nemet gazdasagon keresztul begyűrűző) hatasait a magyar kulkereskedelemre. A szerzők eredmenyei szerint a kivalas varhatoan kozvetett modon gyakorol majd nagyobb hatast: a nemet gazdasag (es az ezen belul meghatarozo szerepet betoltő gepjarműipar) teljesitmenyenek Brexit okozta valtozasa jelentős mertekben befolyasolhatja a magyar exporttevekenyseget. Az Europai Unio es az Egyesult Kiralysag jovőbeli kereskedelmi kapcsolata azonban meg egyelőre tisztazatlan, igy a hatasok merteket nem lehet pontosan megbecsulni. = The withdrawal of the United Kingdom from the European Union (i.e. Brexit) raises numerous trade and economic questions that affect all the member states. The United Kingdom is not a significant trade partner of Hungary; however, the Hungarian foreign trade is strongly bounded to Germany whose main trade partner is the United Kingdom. This study estimates the direct and indirect effects of Brexit (the shock’s spillover from the German economy) on Hungarian foreign trade, using a VECM (vector error correction model) with several macroeconomic and foreign trade variables. The results suggest that the indirect effect will be greater: the Brexit-induced changes in the performance of the German economy (in particular the dominant automotive industry) may have a major impact on the Hungarian export activity. Still, the future trade relationship between the United Kingdom and the European Union is uncertain, so the scale of the effects is unpredictable.

The trade war between Japan and South Korea is now entering a new phase. South Korea is currently counteracting by boycotting goods originating from Japan, such as FMCG (fast-moving consumer goods) companies, fast retaling and automotive. Japan itself has now downgraded the status of South Korea which was originally included in group A or White List Countries or Preferred Trade Partner List Countries into group B, namely countries and regions participating in international export control regimes and satisfying certain conditions (Excluding those in group A) . As we know, this trade war was preceded by restrictions on exports by Japan to South Korea. In July, Japan imposed tighter controls on the export of three raw materials in chips and smart phone screens to South Korea. The materials are photoresists used in the semiconductor industry, hydrogen fluoride as a material for making chips and fluorinated polymides that are used as materials for making smartphone screens. These goods are very important for the industry in South Korea, especially in the smartphone industry, thus making South Korea furious about the Japanese action. The issue that will be raised is how history can shape decision-making in relations between Japan and South Korea, leading to a trade war like today. Relations between Japan and South Korea are very close to what happened in the past. Even today, South Korea still voiced its past suffering caused by Japan and raised tension between the two countries. South Korea plans to file complaints over tightening Japanese export controls to the World Trade Organization (WTO). South Korea accuses Tokyo of having "political motivation" and "discrimination" in the two countries' growing conflict and rooted in wartime history.

After the signing of the New Zealand - China Free trade agreement in 2008, New Zealand’s trade withthe EU has seen less substantial growth. From being the second largest partner, the EU has becomeNew Zealand’s third largest trading partner, behind China and Australia. Moreover, the recentdeparture of the UK from the EU threatens to further downgrade the importance of the EU as NewZealand’s trade partner and its relevance in terms of tourist origin to New Zealand. On the other hand,although still marginal, New Zealand’s trade and tourist relations with the new EU member statesfrom Central and Eastern Europe have seen a remarkable expansion. Focussing on the examinationof current trends in the volume of trade and tourist exchange between New Zealand and this group ofstates, this paper assesses their importance for New Zealand - EU relations and prospects for theirfurther expansion.

This study investigates the impact of political connections in terms of party alternation on stock returns in Taiwan. It considers two major political parties namely: Kuomintang (KMT) and Democratic Progressive Party (DPP) which compete for presidency every four years and acquired the power during the 2008 and 2016 election, alternately. Taiwan's stock market is export-oriented and considered as one of the major trade partner of China. KMT strongly advocates the importance of the Chinese market while DPP views it in opposite position. This study conjectures that different perspectives of these political parties will affect the existing trade treaties and reflect on the stock market performance. We compare the export rate effect to firms during the leadership of KMT and DPP. Our study reveals that export rate is positively related on stock returns when KMT won the president election. The effect is stronger to firms with high export rate and connected to KMT than firms with low export rate and connected to DPP. This study shows a negative effect on stock returns when DPP won the president election. This result is contrast to the previous study on the impact of PC on stock returns.

espanolDesde el ultimo tercio del siglo XX hasta el presente, las relaciones de la Union Europea con Argelia han evolucionado paralelamente al sistema internacional manteniendo un centroperiferia natural y dinamico. Asi, la firma, en 1976, de un acuerdo de cooperacion consistente, sobre todo, en la facilitacion de intercambios comerciales y la prestacion de asistencia tecnica y economica al pais magrebi, dio paso a la adopcion, en 2002, del acuerdo de asociacion que concedio a Argelia la condicion de socio estrategico de la UE. De este modo, ademas del componente economico, las cuestiones derivadas del proceso de globalizacion como la inmigracion, el terrorismo y, sobre todo, la seguridad energetica se han convertido en uno de los vectores determinantes de las relaciones euro-argelinas. Los cambios en la naturaleza de esta relacion bilateral definen la tesis principal de este articulo: Argelia ya no es percibida por la UE solo como un socio comercial, sino como un socio estrategico. EnglishSince the last third of the twentieth century and up to the present, the relations of the European Union with Algeria have evolved parallel to the international system and following a natural dynamic centerperiphery. Thus, the signing, in 1976, of a Cooperation Agreement consisting of, above all, the facilitation of trade exchanges and the provision of technical and economic assistance to the Maghrebi country, progressed in the adoption, in 2002, of the Agreement of Association, which granted Algeria the status of strategic partner of the EU. In this way, in addition to the economic component, issues arising from the globalization process such as immigration, terrorism and, especially, energy security have become the determining vectors of Euro-Algerian relations. Changes in the nature of this bilateral relationship define the main thesis of this article: Algeria is no longer perceived by the EU only as a trade partner but as a strategic partner.

Purpose This paper aims to analyze the marked decline in exchange rate pass-through to US import prices in the early 2000s focusing on the increased role of China as a trade partner. In particular, the research focuses on the impact of an exporter with a fixed exchange rate having large market shares of a particular importing country. Design/methodology/approach The study uses highly disaggregated US import data and rolling regressions to calculate quarterly pass-through estimates for specific goods from every exporter. This leads to a total of over 1.7 million pass-through coefficients. The second stage compares these pass-through coefficients with China’s share of US import market for that particular good and time. Findings The paper shows that as China’s market share for specific goods grows, pass-through rates of imports from other countries falls. Pass-through rates remain relatively stable for goods that China does not export to the USA or goods for which China’s share of US imports stays constant. This relationship is stronger when the dollar decreases in value, further suggesting that pressure from China forces competitors to maintain stable prices. Originality/value This paper is unique in its use of highly disaggregated data on US imports. While many analyses of exchange rate pass-through focus on overall levels or general goods, this work uses import data at the 10-digit HTS code level. Therefore, the findings are more detailed in showing how China’s increased presence in the US market influences prices of imports from other countries.

This research provides review of impose trade remedies (antidumping, countervailing measures, safeguard measures) and conduct relative investigation as well as sanitary and phytosanitary measures (SPS) against certain trade partner by different countries in 1995–2015. This research considers theoretical aspects, empirical studies of introduction of trade measures in integration blocks like NAFTA, MERCOSUR, ASEAN, Pacific Alliance, EAEU, TTP (countries-signers) and RCEP (negotiated parties) against members and third countries. Furthermore, trade measures imposed by Russia and imposed against Russia are considered. The paper was prepared as part of the research work of the state assignment of the RANEPA

This paper explores the transmission of Sino-US trade friction under the GVC division of labor and its diffusion effect from the perspective of third-country's value-added embedded in China's export to the US. It turns out that Sino-US bilateral trade shock may have a multilateral effect in the age of GVCs. The increase of US tariff on China will significantly reduce the value-added rate of trade partner and the third-countries embedded in China's exports to the US, thus making the impact of Sino-US trade shock pass on the countries along the GVCs. Besides, this “ripple effect” is especially notable in Asian regional value chains. The conclusions of this paper have certain enlightenment significance to the current Sino-U.S. trade friction.

Guangdong is a major foreign trade province of China, and the United States is a significant trade partner of Guangdong Province. The rising trade friction between China and the US has had major impacts on the global value chain position of Guangdong Province, which is reflected in foreign trade and two-way investment with the international community. However, the rising trade friction between China and the US forces Guangdong to improve the quality of foreign trade and expand the scale of high-quality investment. Therefore, Guangdong Province should strengthen the innovation-driven ability of enterprises, promote the development of science and technology, and expand the import of high-quality service products.

The United States has been India’s most dominant trade partner for quite some time now. Given trade data are of mirror type and can be easily crosschecked, a rule based routine check finds a huge discrepancy both in export and import values between bilateral trade statistics of these two countries. India’s export values are consistently underreported while imports data show both over and underreporting between 1960 – 2017. As India’s trade misreporting follows a systemic pattern, we enquire further first by building a simple analytical framework relating the trade misreporting to several trade, exchange and capital related policy restrictions that still prevail in India. Next we test the results of the analytical models empirically with the help of ARDL bounds testing method. Among the variables, forward premium plays the most important role in influencing the export mis-invoicing, followed by interest rate differential in short run whereas taxes on export has a pivotal role in long run. The combination of tariff, interest rates and forward premium also affect import mis-invoicing even though individual effects are absent. Finally, using VAR model our exercise finds a string causal relationship between export mis-invoicing and import mis-invoicing with the later affecting the former.

В статье представлены результаты анализа внешнеэкономической деятельности Чувашской Республики, основанные на данных таможенной статистики. Оценена динамика внешнеторгового оборота ЧР после введения санкций и антисанкций в отношении РФ и обвала курса рубля в 2014 г. Представлена динамика объемов экспорта и импорта по основным странам-контрагентам Чувашской Республики в 2014-2019 гг., проанализирована товарная структура экспорта и импорта. Результаты анализа могут быть использованы в процессах разработки и реализации политики регулирования внешнеэкономической деятельности Чувашской Республики., The article presents the results of the analysis. foreign economic activity of the Chuvash Republic based on customs statistics. The dynamics of the foreign trade turnover of the Czech Republic after the imposition of sanctions and anti-sanctions against the Russian Federation and the collapse of the ruble in 2014 is estimated. The dynamics of export and import volumes by the main counterparties of the Chuvash Republic in 20142019 is presented, the commodity structure of exports and imports is analyzed. The results of the analysis can be used in the processes of development and implementation of the policy of regulation of foreign economic activity of the Chuvash Republic., Экономика и предпринимательство, Выпуск 4 (117) 2020

Publicly funded/subsidized export promotion agencies reducing informational barriers to export and thus firm‐level fixed/sunk costs of exporting are present in most countries. This paper develops a two‐country one‐sector heterogeneous firms model with origin‐specific publicly funded export promotion agencies and shows how the public good nature of export‐relevant information and the ability to engage in global public affairs may rationalize the existence of such agencies. A novel finding of the model is that gains from export promotion are shared with the trade partner via intra‐industry reallocations.

This paper applies the gravity model of trade with panel database to assess the impact of ACFTA on the export and import of ACFTA’s members from 2001 to 2018. The database was taken from World Bank Database, International Trade Center and CEPII Research and Expertise on The World Economy. The estimation results review that ACFTA has positive trade creation and trade diversion effect on the export of all ACFTA’s members including Vietnam, ACFTA does play a pivotal role in the intra – regional export and extra – regional export of Vietnam and other ACFTA’s members. Furthermore, within the scope of the paper, compared to other FTA of ASEAN, the magnitude of trade creation of ACFTA is considerably large. This is consistent with the fact that China is gradually becoming a fundamental trade partner with ASEAN and Vietnam in particular. Contrary to the positive effect of ACFTA on members’ export, the estimation results show that ACFTA is causing negative trade diversion effect on the import of ASEAN members within ACFTA including Vietnam. This is in line with the fact that ASEAN and Vietnam in particular have been running trade deficit with China since 2010 at the expense of import from other trading partners, and the trade deficit has been increasing since ACFTA came into full effect.

The purpose of this paper is to review the economic studies on Brexit, highlighting that they have focused mainly on its negative impact on trade. The economic intuition behind these outcomes is provided, explaining why they are asymmetric with the UK being much more harmed than EU-27.,The importance of foreign multinationals in the UK and of UK’s multinationals abroad is shown using a non-standard quantification, which may be preferable than conventional methodologies. In addition, EU trade and investment legislative regimes are explained. Particular attention is paid to the change after the 2009 Lisbon Treaty which transfers foreign investment to the exclusive competence of the EU as opposed to EU states.,The data show that EU-27 is a much less important investment than trade partner for UK.,Although modelling the economy-wide impact of multinationals is challenging, the data and EU legislative framework analyzed suggest it is very much worthwhile. Other considerations about UK’s diminished leveraging power to negotiate after its EU’s withdrawal are also considered.

Foreign aid allocations represent one of several important economic policy tools used by governments to realize their foreign policy objectives. Using a conjoint survey of respondents in the United States, this paper shows that recipient country religion is a significant determinant of individual-level foreign aid preferences. In particular, respondents express a preference for giving to Christian-majority countries in contrast to Muslim- or Buddhist-majority countries. This effect is comparable with that of other important determinants of support for foreign aid, such as a country's status as a U.S. ally or trade partner. Importantly, the preference for Christian recipient countries is especially pronounced among Christian, and most notably Evangelical Christian, respondents. This paper explores two potential mechanisms for the effect of religion: country religion as a heuristic and an individual-level preference for giving to co-religionists.