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This paper proposes a novel intelligent scheduling method based on deep reinforcement learning (DRL) to solve the multi-objective steelmaking-continuous casting (SCC) scheduling problem, under time-of-use (TOU) tariffs for the first time. The intelligent scheduling system architecture is designed, and a mathematical model is established to minimise the total sojourn time and electricity cost. To effectively reduce production costs by avoiding peak periods of electricity consumption, the 'start time' of the system is generated based on the Markov Decision Process (MDP), and heuristic scheduling rules related to power cost are used as the action space, with corresponding reward functions designed according to the characteristics of these two objectives. To satisfy the continuous casting which is a particular SCC constraint, a backward strategy is developed. Additionally, a branching duelling double deep Q-network (BD3QN) is adapted to guide action selection and avoid blind search in the iteration process, and then applied to real-time scheduling. Numerical experiments demonstrate that the proposed method outperforms comparison algorithms in terms of solution quality and CPU times by a large margin. [ABSTRACT FROM AUTHOR]

Time-of-use (TOU) tariff has been implemented in the manufacturing industry to improve energy efficiency by regulating the electricity imbalance between supply and demand. Besides, not-all-machine (NAM) option is another way of energy-saving by using only a subset of all the available machines. This study investigates a robust identical parallel machine scheduling problem with a two-stage TOU tariff and NAM option. Only interval bounds on job processing times are known. The problem is first formulated into a min–max regret model to maximise the robustness. Based on problem properties, both an iterative relaxation-based exact algorithm and a memetic differential evolution-based heuristic are developed to solve the problem. Computational experiments on 240 randomly generated instances with up to 20 jobs are conducted to evaluate the performance of the developed methods. Besides, 900 large-sized randomly generated instances with up to 150 jobs are tested for sensitivity analysis and to identify managerial insights for achieving energy-efficient schedules. [ABSTRACT FROM AUTHOR]

Existing literature on the behaviour of rising powers in global trade governance has yielded inconclusive evidence about their role and impact. This article contributes to this literature by examining China's role in global digital trade governance, an issue area which so far has not received sufficient scholarly attention. Specifically, it addresses the following question: as a self-proclaimed leader of the developing world in digital development, to what extent do its preferences and negotiation approach align with the interests of other developing countries? Analysing China's participation in three sets of negotiations using process tracing, the article argues that China's dual identity both as a self-identified developing country and as a rising power has contributed to its strategic ambivalence. In principle China supports a development-oriented approach to digital trade governance, calling attention to issues such as the digital divide and preserving developing countries' policy space on data localization consistent with its domestic regulatory approaches. Yet China's interest in promoting Chinese technology firms' global expansion leads to increasing divergence with other developing countries on issues such as the e-commerce customs duty moratorium and the global taxation of digital firms, paradoxically increasing its interest alignment with developed countries and limiting its support for fundamental reforms. [ABSTRACT FROM AUTHOR]

To demonstrate the feasibility of estimating a social tariff free of utility curvature and probability weighting biases and to test transferability between riskless and risky contexts. Valuations for a selection of EQ-5D-3L health states were collected from a large and representative sample (N = 1676) of the Spanish general population through computer-assisted personal interviewing. Two elicitation methods were used: the traditional time trade-off (TTO) and a novel risky-TTO procedure. Both methods are equivalent for better than death states, which allowed us to test transferability of utilities across riskless and risky contexts. Corrective procedures applied are based on rank-dependent utility theory, identifying parameter estimates at the individual level. All corrections are health-state specific, which is a unique feature of our corrective approach. Two corrected value sets for the EQ-5D-3L system are estimated, highlighting the feasibility of developing national tariffs under nonexpected utility theories, such as rank-dependent utility. Furthermore, transferability was not supported for at least half of the health states valued by our sample. It is feasible to estimate a social tariff by using interviewing techniques, sample sizes, and sample representativeness equivalent to prior studies designed to generate national value sets for the EQ-5D. Utilities obtained in distinct contexts may not be interchangeable. Our findings caution against routinely taking transferability of utility for granted. • To date there is no national social tariff or value set fully corrected under nonexpected utility assumptions. • This article presents 2 value sets for the EQ-5D-3L system estimated by applying corrections based on rank-dependent utility theory, identifying parameter estimates at individual level. All corrections done are health-state specific, which is a unique feature of our corrective approach. These findings highlight the feasibility of developing national tariffs under nonexpected utility theories. • Our results suggest that utilities obtained in distinct contexts may not be interchangeable. Transferability across riskless and risky domains was not supported for at least half of the health states valued by our sample. Consequently, it seems that ensuring tariffs are not context dependent is as relevant and challenging as correcting value sets. [ABSTRACT FROM AUTHOR]

We propose a Competitive Leverage model, and apply it to analyze the impact of tariffs on the attitudes of domestic import-competing firms, especially regarding their disincentives to maintain a Competitive Stance against foreign competitors in the domestic market. We propose that tariffs are a disincentive to the pursuit and maintenance of production efficiency in firms and industries. When countries implement tariff protection for their domestic firms, the most common excuse sounds reasonable, except that it is also economically flawed. While the short-run impacts of such a measure might seem plausible, its long-term effects appear to be less than favorable, and may, in fact, turn out to be damaging to the economy. The paper applies the competitive leverage concept in a unique way to highlight how tariffs distort the output levels of domestic firms, and gives an empirical analysis of the model, using USA data to verify the predictions of the model. Particularly, we develop a Cournot-competition type Competitive Leverage model, and use it to examine the role played by tariffs as a disincentive to a typical firm's pursuit and maintenance of production efficiency. The competitive leverage model is formulated and applied to verify the effects of tariff protection from the typical domestic firm's strategic interaction standpoint. We further apply crosssectional data to carry out an empirical analysis of the model, to verify how tariffs impact the domestic firm's output and pricing decisions. Our findings would enable us to contribute to the debate about the need to remove protective tariffs, on the grounds that tariffs do not only enable domestic firms to operate inefficiently, but also tends to distort the output and pricing outcomes that would otherwise have been realized in the free market. The results from the study are used to propose some major policy implications of imposing tariff protection, among which are that there is need for implementation of more deliberately sustained Research and development program on the part of domestic firms in the economy, to enable them withstand vigorous competition in a free-trade world. Also, since protective tariffs significantly increase firms' profit rates, which in turn enables them to unduly earn and accumulate economic rents that amount to inefficiencies and distortions in free-market prices and quantities outcomes, governments should always resist any pressures from big businesses to impose protective tariffs against competition from international rivals. Yet a clear public policy implication from this paper is that, at the macro level, as the results suggest that a government policy that aims at protecting domestic firms through imposition of tariffs may have an adverse effect on the firms' competitive stance in the industry, a practical message is for the government to impose only a moderate tariff at the most, if it must, especially as it relates to agricultural products. [ABSTRACT FROM AUTHOR]

When foreign exporters and domestic firms are allowed to produce under asymmetrically increasing marginal costs, the high-cost exporter is handicapped, whereas the low-cost exporter is subsidized in a discriminatory tariff regime. Thus, the profit of the high-cost (low-cost) exporter is smaller (larger) under discriminatory tariffs than under uniform ones. Regardless of the domestic firm type, total output, consumer surplus, low-cost exporter profits, and social and global welfare are always greater under discriminatory tariffs than under uniform ones. Even when exporters and low- and high-cost domestic firms coexist, our main results hold, while both types of domestic firm prefer uniform tariffs to discriminatory ones. [ABSTRACT FROM AUTHOR]

This study explores how income inequality among individuals in each country and trade costs depicting geographic distance between countries impact economic welfare and regime choice under representative democracy, comparing three trading regimes: most favored nation, customs union, and free trade agreement. We examine two cases: one in which trade costs are incurred symmetrically among all countries, and the other in which no trade costs are incurred among the potential member countries, but only between them and nonmembers. In each case, we identify the political feasibility of each regime as well as the impact on the average welfare levels. [ABSTRACT FROM AUTHOR]

This study finds that in an international mixed oligopoly at free entry equilibrium, social welfare under import tariff cum privatization is higher than output subsidy cum privatization, and the dual subsidy‐tariff policy cum privatization degenerates into a single tariff policy cum privatization. The reason is that an output subsidy or the dual subsidy‐tariff policy will incentivize domestic private firms to enter the free‐entry equilibrium. Thus, the number of domestic firms with free entry is excessive, and social welfare deteriorates. A privatization policy is pivotal in the long run and is still more effective than a single subsidy policy. [ABSTRACT FROM AUTHOR]

The article discusses the role of Asia in nurturing regional cooperation, managing global risks, and cultivating responsible leaders for sustainable development. It highlights the challenges faced by conventional globalization and the emergence of regional cooperation initiatives in Asia, such as the Shanghai Cooperation Organization and the Belt and Road Initiative. The article also explores the rising role of Asia in the context of regionalization versus globalization strategies and the implications for international business and management. It emphasizes the importance of understanding global risks and security challenges for Asian business and management and the need for cross-cultural competencies and responsible leadership for sustainable development. [Extracted from the article]

By allowing exporters to produce under asymmetric increasing marginal costs, we investigate the impact of tariff discrimination when considering exporters' endogenous choice of competition mode. When considering endogenous competition mode, discriminatory tariffs lead to Cournot competition, whereas uniform tariffs lead to diverse modes of competition. The discriminatory (uniform) tariffs can obtain Pareto superiority from the perspective of consumers surplus, social and global welfare if product differentiation is either high or low (intermediate). Contrast to previous results, since the importing country tends to impose a lower (higher) tariff on the efficient (inefficient) exporter, the inefficient exporter always prefers the uniform tariffs while the efficient exporter's preference for tariff regime varies for any degree of product differentiation. Thus, with increasing marginal costs for any degree of product differentiation, there is a possibility that the preferences for tariff regimes change in the same direction for the exporters' profits, consumers surplus, social and global welfare. [ABSTRACT FROM AUTHOR]

This paper extends the evidence on the impact of trade reforms on firms by focusing on non‐tariff measures (NTMs), an increasingly important trade policy instrument in advanced and developing economies. We build a novel time‐varying dataset on all NTMs applied to imported products by Indonesia and quantify the trade distortions they generate. We find that unlike tariffs, which reduce plants' productivity, NTMs do not significantly affect plants' performance. However, the most trade‐reducing NTMs are associated with lower plant‐level markups, which is consistent with the increase in the cost of imported inputs induced by these NTMs. [ABSTRACT FROM AUTHOR]

In this paper, we address the remunicipalization question from a novel perspective: by looking at "who is at the helm". Using a comprehensive panel dataset covering the complete universe of French drinking water services from 2009 to 2021, we show that the type of local governments in charge of supervising water services (inter-municipal cooperation or not) influences the decision to remunicipalize. We argue that this is because the costs of negotiating the remunicipalization of water services as well as the level of involvement in the investment and supervision of water services vary according to the type of local government. We conclude by discussing the lessons to be learned from our study concerning the future of remunicipalizations in France. [ABSTRACT FROM AUTHOR]

The article makes a theoretical attempt to explain how different interconnected measures of globalisation—service led growth, tariff reform, agricultural trade liberalisation and capital account liberalisation—affect the skilled–unskilled wage disparity, sector-wise performance, income distribution and aggregate welfare of the economy. We pay attention to land augmenting technological progress as an essential ingredient of inclusive growth and discuss effects of COVID-19 as a supply shock. In so-doing, we construct a three-sector general equilibrium framework with an export-oriented service sector, a tariff-protected import competing manufacturing sector and an export-oriented traded agricultural sector. We find that service-led growth and tariff liberalisation shifts the income distribution in favour of the landed gentry and skilled labour. Agricultural trade liberalisation and capital account liberalisation also debilitate the income distribution. Land augmenting technological progress adversely impacts the manufacturing sector but benefits the other sectors. Following the outbreak of the pandemic, a fall in labour endowment and rise in transaction costs were observed. A decrease in the endowment of skilled labour reduces the production in service sector and increases the production of the manufactured commodity. The results are reversed when the endowment of unskilled labour decreases. An increase in transaction produces unfair outcome from the perspective of income distribution. In this context it becomes imperative to mention that, the construction of the three-sector general equilibrium framework is not new, and that the effects of the COVID-19 pandemic cannot be reduced to just a supply shock. COVID-19 has elements of both supply shock and demand shock, but in this article, we address supply side dimensions of COVID shock in conjunction with the effects of lockdown. In addition, we also demonstrate the robustness of our results to an alternate assumption on the structure of the model. JEL Codes: D50, F66, J31 [ABSTRACT FROM AUTHOR]

Compared to linear tariffs, two-part tariffs are generally perceived as being more efficient since double marginalization is avoided. We investigate the efficiency of two-part tariffs vs. linear tariffs when a vertically integrated firm sells its input also to an independent downstream firm selling a differentiated substitute product. We find that a linear tariff can generate higher consumer surplus and overall welfare than a two-part tariff when the independent downstream firm is rather powerful in negotiating the contract terms, and downstream competition is in prices (Bertrand competition). In that case, the integrated firm makes more profits under a linear tariff than under a two-part tariff. In contrast, under downstream Cournot competition two-part tariffs are always welfare-superior. Under linear demand, we find that, irrespective of the mode of downstream competition and the distribution of bargaining power, the preferred contract type of the integrated firm is always welfare-superior. [ABSTRACT FROM AUTHOR]

Most signatories of the African Continental Free Trade Area (AfCFTA) agreement have submitted tariff concession offers, as published on the AfCFTA Secretariat's website. Over a year since the AfCFTA came into effect, it is time to take stock of these submissions and assess the data with respect to members' stances towards fostering intra‐African trade through openness on the one hand and maintaining protection against competing imports and revenues from import tariffs on the other. Combining the offers with corresponding trade and tariff data, we find that there are both significant data gaps and inconsistencies with the AfCFTA's trade liberalisation modalities and the trade classification standard. Constructing two tariff schedules, one which repairs the offers for compliance with the modalities and another that maximises the import tariff revenue retained as a benchmark, the analysis confirms that the modalities require regions to liberalise strongly, but most opt to liberalise even more and earlier than necessary. Stances towards freer trade, however, differ markedly between regions. Deriving a measure of liberalisation stance from the schedules above and associating it with trade, economic and geographic indicators reveals patterns that suggest potential motivations for the stances of some country groups. [ABSTRACT FROM AUTHOR]

While solar power projects are built on a continuous ground, wind power projects require scattered land, raising transmission costs and increasing the risk of land-related complications. Wind–solar hybrid (WSH) projects have been proposed to address these issues and accelerate installation. WSH power projects will create a well-defined area with sufficient infrastructure, including evacuation facilities, where the project's risks can be reduced. The extensive coastline of India is endowed with high wind flow speed and plentiful solar power resources, creating an ideal environment for WSH projects to prosper while simultaneously improving grid stability and reliability. WSH plants guarantee higher transmission efficiency and cost-effectiveness than their stand-alone counterparts. As of 30.11.2021, 3.75 GW of WSH projects have been granted, with 0.148 GW of operational capacity and 1.7 GW of WSH projects in various bidding phases. In this paper, we discussed state-wise WSH potential, the key players in the WSH project, the National WSH, and the State WSH policy and amendments. Also, the WSH project's physical progress and commercial details are covered. A feasibility study of the WSH plant is performed, and the primary design strategy for deploying WSH power facilities in India is discussed. It covers every step of this process, from design technique to choosing and evaluating potential locations for such hybrid projects, optimally placing wind turbines and solar panels, overall capacity mix for hybrid plants, and ultimately power evacuation optimization. Additionally, a brief study of the savings from these hybrid plants and the environmental, social, and governance standards which are necessary to implement these projects are provided. The potential challenges connected with WSH technologies are examined in depth, and potential solutions and mitigations for the challenges are provided. Designing a WSH for small-scale irrigation is provided along with the size and choice of wind and solar systems. Degradation of PV systems and carbon savings are included, along with some policy measures to boost the proportion of WSH in the entire power mix. In India, the development of large-scale WSH projects is still in its early stages, and more research is required to explore technical, commercial, and policy elements that influence project design. The policy suggestions for improvement of the WSH project are provided. The WSH project developers, potential investors, stakeholders, innovators, policymakers, manufacturers, designers, and researchers will benefit from the recommendations based on the review's findings. [ABSTRACT FROM AUTHOR]

There has still been too little detailed work on the protectionism that emerged in the wake of the Great Depression. In this paper we explore the experiences of two countries that have been largely neglected in the literature, the Netherlands and Netherlands East Indies (NEI). How did these traditionally free‐trading economies respond to the Depression? We construct a detailed product‐level database of tariff and non‐tariff barriers to trade on the basis of primary sources. While ad valorem tariff increases in the Netherlands were largely due to deflation, the country protected agriculture and textiles in a number of ways. Once quotas are taken into account, trade restrictiveness indices suggest that protection in the Netherlands and NEI was comparable to protection in the UK and India, respectively. The NEI quota system was largely geared to protecting Dutch exporters, and succeeded in doing so, but the reverse was not true. [ABSTRACT FROM AUTHOR]

We take the establishment of cross-border e-commerce comprehensive pilot zones as the quasi-natural experiment, based on China’s General Administration of Customs Database, China Customs Online Inquiry Platform, ‘Cross-Border E-Commerce Retail Import Commodity List’ and other data. By employing the staggered DID method, this paper systematically investigates the potential of cross-border e-commerce to enhance the quality of imported products. The research findings reveal the following: Since the introduction of the cross-border e-commerce comprehensive pilot zones, there has been a significant improvement in the quality of imported products in China. These effects, however, vary across different product types and regions, suggesting heterogeneous impacts. The cross-border e-commerce comprehensive pilot zones have facilitated the development of import trade in China through three main avenues: reducing search costs, resolving financing challenges, and lowering tariffs. These measures have collectively contributed to the reduction of trade costs. [ABSTRACT FROM AUTHOR]

Structural adjustment programs, implemented in different developing countries, have had impacts of different orders and magnitudes. This paper analyzes, in an exploratory way, the effects of neoliberal economic policy on rice production in Haiti from the 1980s. To this end, in addition to a bibliographical review, data and information were collected on the websites of different organizations and research institutes. The results indicate that, as a result of the neoliberal economic policy implemented in Haiti, there was a drastic reduction in tariffs for purchasing imported rice, and currently the cereal enters the country without any customs duties. The massive entry of foreign rice, especially North American, has had a negative impact on national production, which is practically paralyzed in the face of the continuous and growing entry of imported cereal, which reaches the local consumer cheaper. This is a complex and dramatic process, given that the Haitian population, which has been facing a serious situation of food insecurity, has the supply of its main food product increasingly dependent on imports, which are controlled by a few transnational corporations. [ABSTRACT FROM AUTHOR]

We analyze whether—and, if so, how—Americans reacted to the escalation of the trade war between the United States and China in June 2018. To address this issue, we leverage surveys conducted in the United States during this phase of the economic clash. We find a significant reduction in support for Donald Trump and his trade policy immediately following the announcement of retaliatory tariffs by the Chinese government. Moreover, respondents' economic concerns about the trade war were primarily sociotropic and only weakly related to personal pocketbook considerations or local exposure to Chinese retaliatory tariffs. We also find that the trade war's intensification was politically consequential, decreasing support for Republican candidates in the 2018 midterm elections. Our findings indicate that trade wars can be politically costly for incumbent politicians, even among voters who are not directly affected by retaliatory tariffs. [ABSTRACT FROM AUTHOR]

The aim of this study is to analyze the most widely used import substitution instruments of CIS and identifying the most prospective directions for import substitution developing in the economy of post-Soviet states. Due to implementation of a multi-stage comprehensive research project based on a quantitative approach, the aim of this study was achieved. The present study showed that three main import substitution instruments for CIS are import duties, non-tariff methods of foreign trade regulating and domestic policy instruments to support national producers. In addition, based on the correlation and regression analysis of the time series model, strong correlations between import by export coverage ratio and the productive capacity index of structural changes were found for almost all the countries studied. This indicates the reverse effect of protectionist import substitution mechanisms on a domestic market development. The reasons for the choice of management mechanisms by the public administration of most CIS countries, which lead to a purposely negative result, could not be studied within this work. Additionally, the results may be useful in practical work of anti-corruption organizations for the suppression and prevention of the corrupt state-criminal networks in the field of import substitution. [ABSTRACT FROM AUTHOR]

This paper develops an oligopolistic model with consumption externalities to study (i) the policy interaction between tariffs and product standards; (ii) how such interaction may affect the welfare justification of national treatment (NT) in product standards. Absent NT, tariff reductions can lead to more discriminatory standards against foreign firms. Imposing NT eliminates discrimination but can induce higher tariffs which tend to undermine efficiency. As a result, the welfare justification of NT is stronger when tariffs are constrained. These findings suggest that the World Trade Organization's success in tariff liberalization can strengthen the case for its NT‐based approach to product standards. [ABSTRACT FROM AUTHOR]

Based on a transnational dual-channel supply chain consisting of the domestic manufacturer and retailer, this paper constructs four models, namely, the without tariff model, the tariff model, the retailer's strategic inputs model, and the manufacturer's compensation model, to investigate the impact of the tariff imposing on supply chain decisions, the effect of the retailer's strategic inputs to hedge against tariffs, and the incentive effect of the manufacturer's compensation. The results show that the tariff imposed by the foreign government leads to higher product prices and lower sales volumes, resulting in welfare losses for foreign consumers. When the domestic retailer makes strategic inputs, the prices of products in the foreign market decrease and the sales volumes increase, which increases the profits of the domestic retailer and manufacturer and improves the welfare of foreign consumers. The equilibrium solutions of the models also show that the manufacturer has an incentive to compensate the retailer for its strategic inputs; when the manufacturer compensates for the retailer's strategic inputs, the profit of the retailer and the manufacturer will be improved again, and thus, the whole supply chain will achieve Pareto improvement. [ABSTRACT FROM AUTHOR]

We examine the vertical strategies of home and foreign manufacturers that produce quality-differentiated products. In contrast to previous results that showed vertical separation as the dominant strategy, we find that the home manufacturer opts for vertical separation, while the foreign manufacturer chooses vertical integration under Bertrand competition. This is because the government of the importing country aims to increase consumer surplus by imposing tariffs, which allows the foreign manufacturer to export high-quality products at lower prices. Under Cournot competition, both manufacturers maintain a vertical separation strategy. However, if the quality levels of products are low, both manufacturers obtain higher profits when they choose vertical integration. This leads to a prisoner's dilemma situation for both manufacturers. In the case of a free trade policy, manufacturers always choose the separation strategy. Under Bertrand competition, integration leads to higher output levels and increases social welfare for the importing country due to the high level of importation of high-quality products, suggesting the tariff policy drive the foreign manufacturer towards integration. [ABSTRACT FROM AUTHOR]

Optimizing export growth patterns and improving the quality of export trade have become prominent issues that need to be addressed urgently in the context of increasing global economic uncertainty. This study utilizes matched data from the CEPII database (1995–2020) and WTO tariff database, adopts a product-level perspective based on the triple margins of exports, and uses an individual-time two-way fixed-effects model to investigate the impact of import trade liberalization on China's export growth pattern. The research findings are as follows: (1) Increasing levels of import trade liberalization are beneficial for enhancing the extensive margin, intensive margin, and quantity margin of products, while exerting a restraining effect on the price margin. This strengthens the price advantage of Chinese products, indicating that import trade liberalization helps optimize China's export growth pattern. (2) Compared with the intensive margin, import trade liberalization has a more significant promoting effect on the extensive margin. (3) The conclusions drawn from heterogeneity analysis suggest that trade liberalization has a more pronounced effect on the extensive margin, intensive margin, and quantity margin of products in medium-high technology industries, differentiated products, and intermediate goods. This study holds important theoretical and practical significance for evaluating the economic benefits of expanding imports, optimizing China's export growth pattern, and improving the quality of export trade. [ABSTRACT FROM AUTHOR]

This paper examines how cross‐border ownership and restrictions affect commercial policies optimally chosen by the government of an importing country. Focusing on import competition in an oligopoly market served by two local producers and a foreign firm, we study and compare two partial ownership arrangements without corporate control: unilateral ownership by the foreign firm over a local producer and bilateral ownership between the two entities. The main findings are as follows: (i) When foreign ownership is unilateral, the optimal trade and industrial policies are an import tariff and a production subsidy, respectively. (ii) When foreign ownership is bilateral, the trade policy can be an import subsidy, and the industrial policy is a production subsidy. These results differ from the benchmark equilibrium without ownership, under which the optimal policy mix consists of an import tariff and a production subsidy. (iii) Unilateral foreign ownership always reduces domestic welfare. However, bilateral foreign ownership can increase domestic welfare when local producers' cost disadvantages are substantially high. (iv) Considering the usual lump‐sum transfer for a balanced budget, bilateral ownership entails a lower public burden than two other scenarios for the government to finance its strategic use of trade and industrial policies. [ABSTRACT FROM AUTHOR]

The pursuit of Preferential Trade Agreements (PTAs) by numerous countries, aimed at promoting trade among member nations, is widely acknowledged. Nonetheless, policymakers often voice concerns regarding the potentially short-lived nature of PTAs' trade-promoting effects. In light of this concern, we present empirical evidence that substantiates the transient nature of the trade-enhancing impacts associated with PTAs. We identify the expanding economic influence of China in the global trade sphere as a primary driver for this trend. These findings are reinforced by a compelling illustration within the context of the PTAs involving Korea and Japan with Latin American countries. Our case study suggests that the attenuation of the export-promoting effects of Korea and Japan's PTAs with their Latin American counterparts can be attributed to the penetration of Chinese goods, the sustained reduction of Most Favored Nation (MFN) tariffs, and the proliferation of comprehensive PTAs within regional contexts. [ABSTRACT FROM AUTHOR]

This document is an introduction to a special issue of the journal "Chinese Economy" that focuses on the comparisons and connections between the Chinese economy and Latin America. It provides summaries of several papers included in the special issue. The papers cover topics such as the importance of Sino-Latin American trade for economic growth, China's role as a major lender in Latin America, and the differences in China's approach to South America and Mexico due to the United States' influence. The article also discusses the impact of China on trade relationships with Mexico and various Latin American countries, highlighting the United States-Mexico-Canada Agreement (USMCA) as a factor that makes Mexico different from other Latin American economies from China's perspective. The article concludes by emphasizing the role of government policies in shaping these trade relationships and suggesting further research on the spillover effects of government decisions. [Extracted from the article]

This article describes the development of a decision support tool for a Rich Vehicle Routing Problem (R-VRP) of a major European do-it-yourself (DIY) retailer. The tool enables more comprehensive and structured planning at the retailer and an average of 8% transportation cost savings, translating to total savings of more than € 1 million per year for this specific retailer compared with the status quo. This article describes the development of a decision support tool for a Rich Vehicle Routing Problem (R-VRP) of a major do-it-yourself (DIY) retailer supplying its stores across Europe from multiple depots. The retailer uses external logistic service providers (LSPs) for the delivery to its stores and has two modes to choose from. In the first mode, the retailer proposes delivery tours to LSPs for execution. These tours are billed according to a nonlinear tariff with volume discounts depending on the delivery zones visited and the load carried. The LSPs accept the retailer's tour proposal only if tour duration and distance restrictions are kept. The latter is ensured by a relative detour limit. In the second mode, the retailer assigns single shipments to common carriers that consolidate them with shipments from other customers and bill this based on load and destination. The resulting problem represents an open VRP with two delivery modes, carrier selection and a heterogeneous fleet. Multiple delivery modes are standard in DIY retailing and constitute a general industry problem. The literature on VRPs and current software applications in the industry predominantly considers modeling and solution approaches that rely on linear distance costs, neglecting that nonlinear zone-based tariffs with volume discounts are standard in the freight forwarding business. Our work addresses this issue by developing a decision support tool for the retailer based on an exact algorithm for solving R-VRPs with a nonlinear zone-based tariff scheme and a relative detour limit. The tool is based on an innovative three-component set partitioning algorithm working on a complete set of feasible tours to solve the problem. We show that our approach optimally solves the daily distribution problem of the industry partner with up to 150 stores. Furthermore, implementing the tool enables more comprehensive and structured planning for the retailer and an average of 8% transportation cost savings, translating to total savings of more than €1 million per year for this specific retailer compared with the status quo. History: This paper was refereed. [ABSTRACT FROM AUTHOR]

This study addresses the financial sustainability challenge of integrated watershed management (IWM) in regions with inadequate water service tariffs. A novel water service tariff model is proposed, incorporating supply costs, water loss reduction investments, and IWM expenses informed by user perceptions. The model is applied to an intermediate Andean city in southern Ecuador, where the current tariff impedes the financial viability of the water utility, reflecting a regional trend. The results indicate a necessary tariff increase exceeding 100% to cover the costs and support IWM. The economic value of watershed environmental services (WES) were estimated at USD 1,505,530.64 per year. This value translates to an average water consumption of 20 m3/user/month, equivalent to a WES of USD 2.60 per month. Despite the users' willingness to pay falling below the estimated economic value of WES, there is a clear need for implementing incentive programs to promote water conservation and policy adjustments that favor the financial sustainability of water supply companies in developing countries. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to price the risk contribution of general Takaful at the level of tariff cells, considering a spatial dependency framework. Design/methodology/approach: Three different models, including a generalized linear model, a generalized linear mixed model (GLMM) and a spatial generalized linear mixed model (SGLMM), according to the actuarial modeling of general Takaful, are used to price pure risk contribution (PRC). Findings: The results reveal that the SGLMM yields more accurate predictions of the PRC compared to the other models, emphasizing the significance of spatial modeling in this context. Following the estimation of the PRC, the gross contribution according to the mechanism of Takaful models is calculated considering the spatial model. Practical implications: Considering the similarities between Takaful and insurance, this study addresses the pricing of general Takaful within different Takaful models through a spatial dependency framework, such that the practical implications of the study are applicable for running Takaful's business in both Islamic and non-Islamic countries. Originality/value: Most studies consider only the social or practical view of Takaful. This study contributes to the broader knowledge and understanding of Takaful by presenting a conceptual understanding of Takaful and then investigates the practical application of pricing risk contribution using innovative modeling of claim frequency and severity at the level of tariff cells. [ABSTRACT FROM AUTHOR]

In 2020, the UK officially withdrew from the EU (Brexit), ending its obligation to continue the EU's retaliatory tariffs on U.S. products. Recent actions by the UK government suggest that these retaliatory tariffs will eventually be eliminated. We present a dynamic modeling framework and estimate whiskey demand in the UK by source (e.g., U.S. whiskey, Irish whiskey, etc.). Estimates are then used to simulate the impacts of the retaliatory tariff on U.S. whiskey. If the tariff is eliminated, U.S. whiskey exports to the UK should fully recover and could even exceed pre-trade war levels. [ABSTRACT FROM AUTHOR]