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This study examines short-run economic and business impacts of the COVID-19 pandemic as a global disruption event. The purpose is to build propositions about specific subnational FDI (Foreign Direct Investment) developments in the short-term of global disturbance. We approach the investigation by reviewing FDI outcomes in the year prior and in the first year of the pandemic, at the U.S. national and subnational levels, and through the lens of local characteristics and FDI outcomes in the state of New Hampshire. Our methods include distribution and frequency analyses on two sets of data: secondary data on FDI and trade at the state level, and primary data as direct observations on firm activities in New Hampshire. Our leading method is the evaluation of data aimed at triangulating and consequently generating a set of propositions that explain phenomena observed in relation to short-term effects of disruption. Our methodological tools consist of an in-focus instance of the phenomena in one state, as a particular case for verifying the validity of our propositions, and comparisons with available data across states to establish the reliability of the proposed consequences. Our analysis provides evidence for subnational heterogeneity of global disruption impact. Our interstate trend analysis and unique data on FDI-related activities in New Hampshire reveal how foreign businesses respond to the external shock of global disruption in the short-run. We use our insights to propose that established regional supply chains and differences in local advantages determine varying FDI outcomes across subnational locations. As a result, we set forth three calls-to-action for regional policymakers: the development of initiatives to support strong trade and FDI-outcomes at all times and in preparation for global disruption; the promotion and facilitation of firms’ access to markets; and the implementation of actions that encourage the establishment of regional supply chains.

This paper aims to assess the demand elasticities and competitive conditions in container liner shipping (henceforth: CLS) market. Using a dynamic model, the regression results reveal that the degree of competition measured by Panzar-Rosse (P-R) H statistic varies from 0.37 to 0.97 for the period of 2009 to 2014. It implies that CLS market can be described as displaying monopolistic competitive behaviour. The conclusion is consistent with previous studies conducted for earlier periods; moreover, the increasing trend of P-R H statistic value implies increasing degree of competition in the industry. The findings contribute to the understanding of theoretical explanation of competitive condition in latest CLS market. Unlike other studies, this paper establishes a dynamic model that makes it possible to measure both short-run and long-run effects.

We use the repeated random assignment of external examiners to schools in Italy to investigate whether the effect of external monitoring on test score manipulation persists over time. We find that this effect is still present in the tests taken one year after exposure to the examiners. In the second year after exposure, however, this effect disappears, suggesting that persistence is short lived.

Trade deficits and surpluses are sometimes attributed to intentionally low or high exchange rate levels. The impact of exchange rate levels on trade has been much debated but the large body of existing empirical literature does not suggest an unequivocally clear picture of the trade impacts of changes in exchange rates. In addition, much of the evidence on this subject considers currencies of large economies, and overwhelmingly the United States.This study examines the impact of exchange rates and their volatility on trade flows in two small, open economies Chile and New Zealand with three major trading partners, in two broadly defined sectors agriculture on the one hand and manufacturing and mining on the other. It finds that exchange volatility impacts trade flows in the small, open economies more than was found for larger economies. Findings do not clearly indicate the direction of the impact, i.e.whether this volatility increases or decreases trade in all countries and sectors. Exchange rate levels, on the other hand, affect trade in both agriculture and manufacturing and mining sectors although their magnitude differs depending on the trading partner and sector. Moreover, this study indicates that a depreciation in the exchange rates in Chile and New Zealand would not lead to a strong change in their trade balances with three main trading partners across the board.