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This study examined the impact of trade restriction on manufacturing sector performance in Nigeria from 1970 to 2018. Adopting the autoregressive distributed lag (ARDL) technique through bound testing to cointegration, the results revealed thatimport penetration has significant negative impact on the index of manufacturing production both in the short run and long run, export penetration has insignificant negative impact on IMP in the short but significant negative impact on IMP in the long run, while trade restriction has significant positive impact on IMP as against trade liberalization that revealed insignificant negative impact on IMP, this study concludes that trade restriction enhanced and positively impacted on the performance of the manufacturing sector in Nigeria. Consequently, the study recommended among others that, the federal government of Nigeria should be more deliberate and resolute in restricting the importation of consumer goods that can be produced locally into the country., {"references":["Adenikinju, A. F. (2005). African imperatives in the new world trade order: Country case study of the manufacturing sector in Nigeria. In Ogunkola, O.E. and A. Bankole (Eds.). Nigeria's imperative in the New World Order. Nairobi: Africa Economic Research Consortium pp. 101 - 158.","Adenikinju, A. F., &Chete, L. N. (2002). Productivity, market structure and trade liberalization in Nigeria. African Economic Research Consortium Research Paper No. 126, Nairobi: Africa Economic Research Consortium","African Development Bank (2012). African Economic Outlook 2012: Promoting Youth employment. Organisation for Economic Co-operation and Development, United Nations Development Programme and United Nations Economic Commission for Africa, Paris OECD.","Araujo, S., &Flaig, D. (2017). Trade restriction in Brazil: Who pays the price? Journal of Economic Integration, 32(2), 283 – 323.","Basha, M.H. (2015). The impact of foreign trade on the total product growth of the manufacturing sector in Jordan. Journal of Economics and Sustainable Development. 6(2): 96-103.","Central Bank of Nigeria (2005). Annual Report and Statement of Account for the Year Ended, 31st December, Abuja.","Central Bank of Nigeria (2006). Annual Report and Statement of Account for the Year Ended, 31st December, Abuja."]}

The paper assesses international spillovers from a twin demand shock, originating sequentially in two large economies. Using a network-based spillover model, the paper concludes that while the initial shock may be modest, the network effects in shock spillovers can be substantial, comparable, and often exceed the initial shock. Individual countries may amplify, absorb, or block spillovers. To illustrate the model, the paper quantifies the macroeconomic impact of a hypothetical reduction of bilateral trade between the United States and China as a result of mutual trade restriction.

The paper describes factors that lead to the United States trade restrictions, particularly export control at the end of the second decade; the challenges of the United States policy, prospects for international trade relations. World trade is expected to grow this year after reducing in the previous one. The outlook for trade development remains with a large degree of uncertainty due to economic, financial risks, effects of struggle against pandemia; national policies. The US trade restriction policies are in focus. Besides imposing import tariffs; controlling exports of software, sensitive equipment, technology has been transformed under Trump’s administration in the context of national security, foreign policy objectives. Limiting access to the most sensitive U.S. technology has been putting in practice along with new export controls on software; restrictions on the emerging and foundational technologies. Export Control Reform that was passed by Congress and signed into law by President Trump has determined a new stage in US policy and may bring more uncertainty as concerning relations with other countries.

According to the World Bank, most research suggests that unilateral reduction in trade barriers can result in the greatest and the quickest gains in welfare. However, recently United States imposed tariffs on good imported from China and Chinese government retaliated by introducing trade barriers on imports from the United States. Generally, developed counties attempt to improve their trade deficits by allowing the exchange rate to depreciate, whereas developing countries rely more on trade restrictions. In this paper, five developed countries and five developing countries that experienced persistent trade deficits were selected. A VAR statistical technique was used to examine the effects of exchange rate changes of the net trade of two selected groups of countries. It is shown that in case of developed counties, the exchange rate and net trade moved in the same direction. However, the same results were not confirmed for the developing countries.

To combat COVID-19 the entire world has resorted to global lockdown implying restriction on international labor migration and trade. This paper aims to check the effect of such restrictions on the unemployment of unskilled labor in the source country. In competitive general equilibrium framework with three goods and four factors, restriction on migration raises unemployment for given factor intensity. The results remain same even in a slightly different structure of the economy. In case of trade restriction, however, the rise or fall in unemployment depends on both the structure of the economy and the factor intensity assumption.

Islamic Republic of Iran is a natation with troubled history. It carries the legacy of ancient empire. It holds notable geopolitical significance in west Asian landscape. It is endowed with oil reserves and relies heavily on oil export. Iran’s economy faced stringiest of sanctions over the years. Western power had always been sceptical about Iran’s nuclear armament. So, the Islamic state was kept isolated from international community for long which hampered its progress to great extent. Iran’s economy went through tough time due to outbreak of pandemic. Iran's currency lost its value as a result of sanctions and four decades of economic indecision. Washington pulled out of Iran nuclear deal in May 2018 under the leadership of President Donald Trump and imposed heavier sanction to restrict its vital oil export. Fiscal deficit went high during COVID 19 inflicted hard time. Unemployment rate turned doble digit and went beyond 11 percent in 2021 and millions of people continued living below the poverty line. Draught affected farming severely caused by failure in resource usage, water guzzling crop cultivation and climate related uncertainty. IMF delayed to offer bailout package on the ground of opposition by USA and allies, shaky balance of payment situation, low repayment ability and questionable debt sustainability. Iran needs reform in financial sector, makeover of state-owned enterprises, private sector growth and normalization of trade links to salvage its battered economy.

Economic growth is based on the foreign investments and international trade based on stable and consistent policies. Stable political and economic policies attract the foreign investments and international trade. Political instability affect the foreign investment and economic growth. The role political instability has been tested on the pattern of international trade and economic growth. The results shows that terms of trade insignificant while trade restriction indication a significant impact on economic growth. Trade patterns indicates a significant relationship with economic growth. The results indicates that political instability affect the relation of trade pattern and economic growth adversely as moderating factor. It has been observed that political instability is quite high in case of Pakistan. Since last ten years political system of Pakistan is improving after the revival of democratic system and trade with neighboring and developed countries is improving and a positive signals has been observed in economic growth of Pakistan

The paper estimates the effect of product standards on firms’ export decisions using two novel datasets. The first covers all exporting firms in 42 developing countries. The second covers pesticide standards for 243 agricultural and food products in 63 importing countries over 2006–12. The analysis shows that product standards significantly affect foreign market access. More restrictive standards in the importing country, relative to the exporting country, lower firms’ probability of exporting as well as their export values and quantities. The relative restrictiveness of standards also deters exporting firms from entering new markets and leads to higher exit rates from those markets. Moreover, firm characteristics mediate the effect of product standards on firms’ export decisions. Smaller exporters are more negatively affected in their market entry and exit decisions by the relative stringency of standards than larger exporters. Positive network effects of exporters from the same country may help reduce the burden of importing countries’ standards on firms’ decisions to enter new markets.

Used tires are traded internationally. Some are subject to direct reuse, whereas others become cores for retread tires, which are also traded internationally. Such international trade contributes to improved resource efficiency and reduced transportation costs in the importing countries. However, importing worn-out used tires may pose a safety problem. The international trade of used tires can transfer mosquitos, which are vectors for disease, to other countries, thereby spreading mosquito-borne diseases such as dengue fever. This chapter reviews the trade statistics for used and retread tires since 1990 and identifies factors that affect trade flows. The important factors are income level, trade restriction, car inspection system, and road condition. The impacts of these factors differ according to the type of tire. The effectiveness, justification, and impact of trade restrictions are also discussed. In addition, appropriate trade policies on used and retread tires are discussed from the viewpoints of global resource efficiency and safety.

Market diversification is one of the keys to success in the new era of world trade. Highly competitive countries have accomplished positive and sustained growth rates by not depending on a single market for their exports and imports. In Mexico, on the contrary, 80% of exports and 45% of imports concentrate in the United States. The South Korean market represents an opportunity for the Mexican economy, as the relationship between the two countries has strengthened in recent decades. This opportunity would promote greater economic growth for both countries if they reached a Free Trade Agreement, as we show in this work. The aim of this research is to assess the complementarity between these countries and estimate their external long-term equilibrium using the Thirlwall trade restriction model. Results confirm the existence of trade complementarity between the two economies and show that these are able to achieve long-term equilibrium in the external sector. Additionally, the Mexican economy would not face balance of payment constraints for growth when trading with South Korea, as it currently does with the United States.

To combat COVID-19 the entire world has resorted to global lockdown implying restriction on international labor migration and trade. This paper aims to check the effect of such restrictions on the unemployment of unskilled labor in the source country. In competitive general equilibrium framework with three goods and four factors restriction on migration raises unemployment for given factor intensity. The results remain same even in a slightly different structure of the economy. In case of trade restriction, however, the rise or fall in unemployment depends on both the structure of the economy and the factor intensity assumption.

This paper describes the Services Trade Policy Database, a joint initiative by the World Bank and the World Trade Organization Secretariat, which builds on a database developed by the World Bank nearly 10 years ago and draws on a recent Organisation for Economic Co-operation and Development database. The Services Trade Policy Database offers comparable information on services trade policies for 68 economies in 23 subsectors across five broad areas -- financial services, telecommunications, distribution, transportation, and professional services. The database features several improvements. First, the data are collected according to a newly developed policy classification, consistent with the earlier World Bank database and the current Organisation for Economic Co-operation and Development database, enabling a comparison of services policies over a significant period and across a large cross-section of industrial and developing economies. Second, in addition to trade policies, the database contains information on licensing conditions and data restrictions. Third, policy restrictiveness is quantified following a more systematic approach that aggregates the information within a single consistent and transparent framework. Building on these innovations will make it possible to identify global patterns of services trade policies and secular trends in policy making over the past decade.

Are changes in services markets provoking reform, restrictions, or inertia? To address this question, this paper draws on a new World Bank-World Trade Organization Services Trade Policy Database. The paper analyzes the services trade policies of 68 economies in 23 subsectors across five broad areas -- financial services, telecommunications, distribution, transportation, and professional services. Policy measures are quantified into a Services Trade Restrictions Index (STRI) following a novel, consistent and transparent framework. The paper identifies patterns of services trade policies across sectors and economies, and secular trends over the past decade. Higher income economies are still more open on average than developing economies, but the chronology of reform differs markedly across sectors. In telecommunications and finance, there is convergence toward greater openness driven by liberalization in the previously more restrictive developing economies. In the hitherto universally protected transport and professional services, there is policy divergence, as some higher income economies pioneer reform. But while explicit restrictions are being lowered in most services sectors—in contrast to recent developments in goods trade policy -- there is greater recourse to regulatory scrutiny, especially in higher income economies. These measures could reflect legitimate prudential or security concerns, but they could also reflect recourse to less transparent forms of protection.

In 2016, the Government of India proposed negotiations on an agreement to facilitate trade in services to complement the 2013 World Trade Organization Trade Facilitation Agreement in goods. The proposal did not find much support, but plurilateral talks launched in 2017 on various policy areas encompass areas that are very relevant from a services trade facilitation perspective. This paper argues that participating in the current plurilateral talks can do much to achieve services trade facilitation objectives by identifying good regulatory practices. Although elements relevant to services trade facilitation are on the table in the World Trade Organization, there are important gaps. Identifying priorities for complementary international cooperation to facilitate trade in services on a plurilateral basis requires initiatives that bring together governments, services industry associations, and sectoral regulators.

The COVID-19 (coronavirus) health crisis can lead to a food security crisis in Bangladesh if proper measures are not put in place. Trade policies can be an essential instrument in the management of the COVID-19 (coronavirus) related food security issues. Trade responses such as eliminating tariffs, refraining from imposing export restrictions, and facilitating trade flows can play an important role in maintaining access to and reducing the cost of essential food products.