Journal articles on the topic 'Protectionism Econometric models'
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Madiyarova, Diana Makayevna, and Maxim Vladimirovich Terletskii. "Methodological approaches to determining the impact of barriers on international trade." Mezhdunarodnaja jekonomika (The World Economics), no. 9 (September 20, 2021): 713–27. http://dx.doi.org/10.33920/vne-04-2109-06.
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Today, within the framework of the functioning of foreign trade policy, there are two main opposing models: protectionism and free trade. Recently, the situation is developing towards the dominance of the policy of protectionism over the policy of conducting free trade, since there is a continuous increase in the number of non-tariff measures and the manifestation of trade wars. This situation leads to the need for a policy of trade liberalization. Implementing a foreign trade policy aimed at eliminating trade barriers is not a quick process and requires a thoughtful scientific assessment. To analyze the criticality of the situation of the absence of a free trade policy and to reflect its validity, a very wide methodological toolkit is used to study various kinds of trade barriers, ranging from the calculation of the simplest indicators to the construction of complex econometric models. This study provides a comprehensive review of the main methodological approaches to determining the impact of tariff and non-tariff barriers on the international trade activities of countries. In the scientific review work, 4 domestic and 24 foreign sources, formed on the basis of 21 resources, were involved in the search for literature. The results of the review analysis of research papers showed that in the study of tariff and non-tariff barriers, researchers mainly use three econometric models, namely gravity model, partial equilibrium model and general equilibrium model. In addition, the study of non-tariff barriers can be carried out in the context of two other methods besides the econometric one: the implementation of the "price gap" method and the derivation of "incidence indicators".
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Kalbasi Anaraki, Nahid. "Iran’s WTO accession and the auto industry." Journal of Global Economy 10, no. 4 (December 21, 2014): 239–46. http://dx.doi.org/10.1956/jge.v10i4.370.
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Iran’s auto industry faces with severe challenges in the post globalization era since it has enjoyed a high degree of protectionism for more than decades now. Infant industry policy beside the international sanctions has paralyzed the industry, limiting the ability of Iranian products to compete in the international markets, creating adverse selection for consumers in the domestic market.WTO’s accession requires a sharp reduction in tariff rates whereas Iran’s auto industry has been subject to a high level of protection. To investigate the impact of WTO accession on the auto industry this paper tries casts light not only on the quantitative effects of reducing tariff rates on imports and domestic production through econometric models, but also highlights the inconsistencies of Iran’s regulatory system with GATT articles.
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Barwick, Panle Jia, Shengmao Cao, and Shanjun Li. "Local Protectionism, Market Structure, and Social Welfare: China’s Automobile Market." American Economic Journal: Economic Policy 13, no. 4 (November 1, 2021): 112–51. http://dx.doi.org/10.1257/pol.20180513.
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This study documents the presence of local protectionism and quantifies its impacts on market competition and social welfare in the context of China’s automobile market. A salient feature of China’s auto market is that vehicle models by joint ventures and state-owned enterprises command much higher market shares in their headquarter provinces than at the national level. Through county border analysis, falsification tests, and a consumer survey, we uncover protectionist policies such as subsidies to local brands as the primary contributing factor to the observed home bias. We then set up and estimate a market equilibrium model to quantify the impact of local protection, controlling for other demand and supply factors. Counterfactual analysis shows that local protection leads to significant consumer choice distortions and results in 21.9 billion yuan of consumer welfare loss, amounting to 41 percent of total subsidy. Provincial governments face a prisoner’s dilemma: local protection reduces aggregate social welfare, but provincial governments have no incentive to unilaterally remove local protection. (JEL L24, L32, L62, O14, O18, P25, R12)
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Eckel, Carsten. "Trade and Diversity: Is There a Case for ‘Cultural Protectionism?’." German Economic Review 7, no. 4 (December 1, 2006): 403–18. http://dx.doi.org/10.1111/j.1468-0475.2006.00126.x.
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Abstract In contrast to the predictions of standard models of international trade, globalization critics are claiming that trade destroys diversity. We demonstrate that with endogenous sunk costs, trade integration in horizontally differentiated industries can indeed lead to a fall in diversity. Consumers are faced with a tradeoff between gains in real income and a loss in diversity, so that the impact on welfare is ambiguous. However, it is possible through fiscal policies to replicate pre-trade choices and still realize gains in real income. Thus, calls for a ‘cultural protectionism’ are not justified.
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Nishimura, Kazuhiko. "Technology Transfer with Capital Constraints and Environmental Protections: Models and Applications to the Philippines." Economic Systems Research 15, no. 3 (September 2003): 359–70. http://dx.doi.org/10.1080/0953531032000111808.
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van Aaken, Anne, and Jürgen Kurtz. "Beyond Rational Choice: International Trade Law and The Behavioral Political Economy of Protectionism." Journal of International Economic Law 22, no. 4 (December 2019): 601–28. http://dx.doi.org/10.1093/jiel/jgz034.
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ABSTRACT The classic political economy of trade models state behavior on the international plane by reference to the formation of domestic interests. Voters, interest groups, and politicians are rational actors in this model, pursuing their economic preferences without cognitive or motivational distortions. This article questions the sufficiency of the rational choice model in the formation of contemporary trade policy. Starting from the classic political economy story, this article explores real-world deviations from rationally expected outcomes by drawing on cognitive psychology. Using both theoretical and empirical analysis, we seek to identify key distortions that can better explain voter and politician behavior in the current trade wars. We begin with loss aversion in that individuals have asymmetrical attitudes towards gains and losses. Rising inequality within the rich world amounts to a perceived relative loss particularly for middle-class citizens. Combined with the absolute rise of equality between countries, this can trigger a double loss frame—both as an individual loss and a national loss—that can profoundly shape anti-trade preferences in certain countries. Framing trade as a security threat also invokes powerful hawkish biases. Lastly, the availability bias can be provoked by social media mechanisms making people tend to focus on particular risks and overweight their import.
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Bazaluk, Oleg, Olha Yatsenko, Nataliia Reznikova, Ivanna Bibla, Nataliia Karasova, and Vitalii Nitsenko. "INTERNATIONAL INTEGRATION PROCESSES INFLUENCE ON WELFARE OF COUNTRY." Journal of Business Economics and Management 23, no. 2 (February 9, 2022): 382–98. http://dx.doi.org/10.3846/jbem.2022.16228.
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The primary objective of the research is to investigate the influence of international integration processes on national welfare. Peculiarities of trade and economic liberalization of trade through mechanism of regional trade agreements (RTA) forming have been scrutinized. Integration, which develops due to RTAs, is the most important mechanism of the international cooperation in the field of economic policy. This integration is a coordination and protection mechanism, which functions in a broad spectrum of policies. An exceptional role of RTAs in reaching country economic security has been estimated. RTAs being a result of a compromise reached by protectionism and anti-protectionism forces have been grounded. Using tools of the multiple regression model, the influence of integration processes, in which Ukraine and China participate, on national economic growth rates and on GDP per capita (as major parameters reflecting national welfare level) was simulated. This allowed detecting of the positive direct dependence between the trade liberalization and economic growth rates, as well as the inverse dependence between the trade liberalization and GDP per capita, for both countries. Based on these regression models, economic growth rates and GDP per capita were predicted for next years; according to this prediction, graduate increasing of national welfare shall occur in Ukraine and China.
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Mendoza, Adrian. "Disruptions in global value chains due to COVID-19: stylized facts and policy lessons." Philippine Review of Economics 58, no. 1&2 (December 2021): 214–40. http://dx.doi.org/10.37907/9erp1202jd.
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This paper provides an early assessment of global value chains (GVCs) amid the disruptive effects of COVID-19 on world trade. Using the Asian Development Bank’s updated Multiregional Input-Output Table, key indicators were estimated to identify important stylized facts about the contraction of GVC activities in 2020. Econometric models were also estimated to analyze the disruptive effect of COVID-19 outbreaks and stringent containment measures on GVC trade. The input-output analysis confirms that all major economic sectors suffered large losses, especially services. However, the bulk of the decline in overall GVC trade can still be traced to lower backward transactions in manufacturing. On the aggregate level, stronger backward GVC participation was associated with relatively milder contraction while the opposite was observed for forward participation. The regressions showed that positive growth of GVC trade was less likely in sectors with relatively larger exposure to foreign downstream shocks. Further, the combined effects of stringent containment measures and severe COVID-19 outbreaks also reduced the probability of growth in both backward and forward GVC transactions. These findings indicate that on top of foreign suppliers’ internal disruptions (foreign supply shock), weak global consumption (foreign demand shock) and local producers’ domestic sourcing problems (local supply shock) contributed to the steep contraction of GVCs in 2020. Against this background, the major challenges to robust recovery were also identified. These include the downside risks of a prolonged pandemic, the resurgence of protectionist tendencies, the strength of global demand, the reconfiguration of broken supply chains, and the ability of countries to coordinate their actions especially with respect to vaccination.
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Bunting, William C. "A Simple Model of Corporate Fiduciary Duties: With an Application to Corporate Compliance." Review of Law & Economics 17, no. 3 (November 1, 2021): 583–614. http://dx.doi.org/10.1515/rle-2021-0013.
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Abstract This article models the duty of care as a response to moral hazard where the principal seeks to induce effort that is costly to the agent and unobservable by the principal. The duty of loyalty, by contrast, is modeled as a response to adverse selection where the principal seeks truthful disclosure of private information held by the agent. This model of corporate loyalty differs importantly with standard adverse selection models, however, in that the principal cannot use available contracting variables as a screening mechanism to ensure honest disclosure and must rely upon the use of an external third-party audit technology, such as the court system. This article extends the model to the issue of corporate compliance and argues that the optimal judicial approach would define the duty to monitor as a subset of due care – and not loyalty – but hold that the usual legal protections provided for due care violations no longer apply.
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STURM, DANIEL, and ALISTAIR ULPH. "Environment and trade: the implications of imperfect information and political economy." World Trade Review 1, no. 3 (November 2002): 235–56. http://dx.doi.org/10.1017/s1474745602001234.
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The last ten years have seen an upsurge in interest in the nexus of trade and environmental policies. In part this reflects the need to deal with major global pollution problems, and in part a concern that globalization may have adverse impacts on the environment. Environmentalists worry that globalization may trigger a race-to-the-bottom in environmental standards. While they would like to see upward harmonization in environmental standards, they are sceptical about the ability of supra-national agencies to achieve this. Industrialists also raise concerns about the need for a ‘level playing field’ in environmental regulations because of fears about the impact of environmental regulations on competitiveness. However, developing countries question whether disputes over differences in environmental regulations simply reflect a covert form of ‘green protectionism’. In this paper we review what light recent developments in economic analysis (conceptual and empirical) can shed on these concerns. We quickly summarize conventional trade models in which government bodies have perfect information and are welfare maximizers, and show that this analysis does not provide much support for the concerns or proposed policy recommendations. We then turn to models of political economy and imperfect information to see whether they provide a better explanation for the concerns and policy recommendations.
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MUNNELL, ALICIA, JEAN-PIERRE AUBRY, WENLIANG HOU, and ANTHONY WEBB. "Multiemployer plans: evaluating a proposal to spread the pain." Journal of Pension Economics and Finance 18, no. 1 (January 23, 2018): 124–39. http://dx.doi.org/10.1017/s1474747217000427.
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AbstractThe Multiemployer Pension Reform Act (MPRA) allows multiemployer plans facing insolvency to apply for approval from the Treasury to cut accrued benefits of plan members to prolong plan solvency—a departure from the benefit protections of Employee Retirement Income Security Act. To assess the law's impact, this paper models Central States Teamsters – by far the largest – plan to have applied under the new law to reduce benefits. Using a stochastic model of future investment returns, the probability of insolvency within 10 years drops from 50% (without cuts) to 6% (with cuts). While benefit cuts increase the overall welfare of participants by extending the plan's life, the welfare of younger retirees (under age 75) worsens and welfare of workers improves.
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Jia’ning, Yang, and Kin-man Chan. "How NGOs Advance Corporate Social Responsibility in China." China Nonprofit Review 3, no. 1 (2011): 99–113. http://dx.doi.org/10.1163/187651411x566702.
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AbstractOn the basis of four NGO case studies, this article considers how NGOs promote corporate social responsibility (CSR) from the angle of resource mobilization. NGOs’ approaches to promoting CSR can be divided into three types: cooperative, independent, and oppositional. Within the cooperative approach, there are two types of relationships between NGOs and enterprises. In the first, “integrated” social enterprise approach, NGO and enterprises are highly codependent. In the second, the NGO cooperates as an entity external to the enterprise. The independent approach has the NGO acting as a third-party examiner, and, based on its cooperation with a famous international organization, performing CSR evaluation and training for Mainland processing enterprises. The oppositional approach consists of NGOs using social movements to cast light on whether or not enterprises are fulfilling their social responsibilities. NGOs’ different levels of resources determine the power dynamics between them and enterprises. Those different power dynamics, in turn, determine the methods and strategies NGOs will use to try to compel enterprises to take on social responsibility and determine the kinds of relationships that form. These different approaches also reflect that NGOs lack institutional protections for their efforts to stimulate CSR. Currently, their efforts to advance CSR have not yet been able to develop into institutionally diverse models.
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Lavrikova, Yuliya G., Elena L. Andreeva, and Artem V. Ratner. "Development Factors of Region’s Foreign Economic Activity in the Context of Global Challenges." Economy of Region 17, no. 2 (June 2021): 688–712. http://dx.doi.org/10.17059/ekon.reg.2021-2-24.
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New global challenges such as COVID-19 pandemic, strengthening of protectionism, production technologies development, digitalisation and energy transition, require reinterpretation of regions’ foreign economic activity (FEA). In this context, the research aims to identify and classify development factors of such activity in regions described in the international scientific literature. We analysed works obtained from international (Scopus and Web of Science) and Russian (Elibrary.ru, journal websites) databases using the search terms “regional foreign economic activity”, “regional export”, “global challenges”, “export support”, “foreign investments”, etc. 143 Russian- and English-language articles and books published in the period 1980–2021 were chosen. Selected works, focused on Russian federal districts and regions, as well as advanced and emerging countries, describe various approaches to examining the specificity and development patterns of world regions. Based on the data, we performed structural analysis of foreign economic activity factors using the method of multi-parameter classification. The revealed factors were compared and divided into homogeneous groups with multilevel structures (macro-groups — groups — subgroups — individual factors). After analysing the variety of approaches, we identified five macro-groups of factors: 1) global challenges and partner country factors; 2) resource, industrial, transport and infrastructure potential; 3) organisational factors (finances, specialists’ skills, business community); 4) investment, innovation and image potential; 5) state support of foreign economic activity. The proposed classification considers the development of global, national, regional entities, as well as FEA participants and individuals, taking into account both direct and indirect factors. The research findings can be used for developing short-, medium- and long-term approaches, models and forecasts of regions’ foreign economic activity.
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Deardorff, Alan V., and Robert M. Stern. "Issues of Manufactures Liberalization and Administered Protection in the Doha Round." Global Economy Journal 5, no. 4 (December 7, 2005): 1850055. http://dx.doi.org/10.2202/1524-5861.1142.
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This article focuses especially on the positions that the developing countries should take in their own interests on the issues of manufactures liberalization and administered protection. A series of recommendations are set forth with supporting argument: (1-2) for market access, both developed and developing countries should commit to reducing their most restrictive trade barriers, using a formula approach with limited exceptions; (3) negotiated tariff reductions should be phased in over a period of ten years in equal incremental installments; (4) adjustment assistance should be provided by a system of wage insurance and subsidized by transfers from developed countries; (5) the rules for safeguards, countervailing duties, and anti-dumping should be redrafted to focus their use on cases of legitimate economic justification and to discourage their use as protectionist devices; (6) the U.S. and EU should devise and implement a program of comprehensive but declining import restrictions on imports from China consistent with China’s terms of WTO accession and eliminated by 2008; (7) WTO rules governing Preferential Trading Arrangements should be revised to insure that they contribute to the liberalization and simplification of the multilateral trading system; (8) preference granting countries should provide assistance to countries experiencing the erosion of preferences due to multilateral liberalization; (9) the WTO system of dispute resolution should remain in place; and (10) special and differential assistance, if granted, should not exempt countries from the provisions for their own market liberalization. Developing countries should participate actively and constructively in the negotiations to further their own interests. Developing countries may be at a disadvantage in the negotiating process, due to their resource limitations and inexperience in negotiations. Offsetting such disadvantages, however, are their large numbers and the compelling case for meeting their needs. What is needed is leadership and cooperation as for example with the Group of 20 and other coalitions together with a willingness to listen and be flexible on the part of their developed country counterparts. Alan V. Deardorff is John W. Sweetland Professor of International Economics and Professor of Economics and Public Policy at the University of Michigan. He received his Ph.D. in economics from Cornell University in 1971 and, since 1970, has been on the faculty at the University of Michigan where he served as Chair of the Economics Department from 1991 to 1995. He is co-author, with Robert M. Stern, of The Michigan Model of World Production and Trade and Computational Analysis of Global Trading Arrangements and has published numerous articles on aspects of international trade theory and policy. His work on international trade theory has dealt primarily with theories of the patterns and effects of trade. With Professor Stern and with Professor Drusilla K. Brown he has developed a series of computable general equilibrium models of world production, trade, and employment that have been used to analyze the effects of both multilateral and regional initiatives for trade liberalization. Deardorff's current research interests include: the causes and effects of international fragmentation, the economic effects of free trade areas, and the role of trade costs in determining patterns of international specialization and trade. Robert M. Stern is Professor of Economics and Public Policy (Emeritus) in the Department of Economics and Gerald R. Ford School of Public Policy at the University of Michigan, Ann Arbor.
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Kundakchyan, Rezeda M., Tina M. Vakhitova, Landysh A. Gadelshina, Liliya F. Garifova, and Liliya F. Zulfakarova. "EVALUATION OF THE INFLUENCE OF FACTORS OF THE REGIONAL ECONOMIC DEVELOPMENT ON THE GROSS REGIONAL PRODUCT." Gênero & Direito 8, no. 5 (October 28, 2019). http://dx.doi.org/10.22478/ufpb.2179-7137.2019v8n5.48664.
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The problem of economic growth has always been central to the discussions not only of professional economists, but also of politicians and public figures. This issue is of particular urgency for Russia in the period of geopolitical turbulence, which is strengthened by the tendencies of protectionism in international trade. In addition, there is a different dynamics of economic growth, its quality, both in the sectoral and regional sections. In this regard, the analysis of the influence of the main factors contributing to economic growth, qualitative change in the structure of gross domestic product (GDP), gross regional product (GRP), has a significant applied value. Priorities of innovative quality of growth that require large-scale investments are stated in Strategy-2020 and in “Strategy of Social and Economic Development of the Republic of Tatarstan until 2030”.Without assessing the role of the investment resource, it is impossible to determine the strategies for the country's social and economic development, to develop and implement general state, sectoral and regional programs. One approach that makes it possible to quantify the degree of influence of such key factors of economic growth as investments and incomes of the population, including the average monthly wage, is based on the use of econometric models and economic interpretation of the coefficients of the models obtained
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Russo, Antonio. "Hyper-globalization and capitalism: socio-political effects of the international commerce." International Journal of Sociology and Social Policy ahead-of-print, ahead-of-print (June 19, 2020). http://dx.doi.org/10.1108/ijssp-04-2020-0128.
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PurposeThe hypothesis is that social inequalities tend to increase in the historical phases characterized by a high level of integration of the international economy, generating protectionism-oriented pressures. The analysis of the capitalistic evolution in the last centuries is oriented to outline the strict connection between deep international economy integration and high level of social inequalities in advanced economies.Design/methodology/approachRecent deep integration in international economy generated, in advanced economies, a significant increase in socio-economic inequalities, with negative effects on social cohesion and democratic dynamics. The paper, examining the historical evolution of capitalism, analyses the consequences generated by the deep integration, achieved by the international economy, on social inequalities in advanced countries. The discussion is focussed on three models of capitalism: competitive capitalism, Fordist capitalism and cognitive capitalism.FindingsAs a result, for governments, two alternatives open up in the hyper-globalization phases: to preserve deep international economic integration, with risks for democracy; to preserve internal social cohesion, with risks of protectionism and closure to the international economy.Originality/valueThe article is oriented to underline the intrinsic incompatibility between hyper-globalization and democracy, for the strong negative effects generated by hyper-globalization on social inequalities and on social cohesion.
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Yilmazkuday, Hakan. "THE GREAT TRADE COLLAPSE: AN EVALUATION OF COMPETING STORIES." Macroeconomic Dynamics, September 3, 2019, 1–37. http://dx.doi.org/10.1017/s1365100519000683.
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The reduction in international trade has been more than the reduction in economic activity during the 2008 financial crisis, against the one-to-one relationship between them implied by standard trade models. This so-called the Great Trade Collapse (GTC) has been investigated extensively in the literature resulting in alternative competing stories as potential explanations. By introducing and estimating a dynamic stochastic general equilibrium model using 18 quarterly series from the USA, including those that represent the competing stories, this paper evaluates the contribution of each story to GTC. The results show that retail inventories have contributed the most to the collapse and the corresponding recovery, followed by protectionist policies, intermediate-input trade, and trade finance. Productivity and demand shocks have played negligible roles.
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Guo, Jin, and Tetsuji Tanaka. "Determinants of international price volatility transmissions: the role of self-sufficiency rates in wheat-importing countries." Palgrave Communications 5, no. 1 (October 22, 2019). http://dx.doi.org/10.1057/s41599-019-0338-2.
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Abstract From the 1980s until the early 2000s, many developing governments adopted market liberalization policies due to relatively low agricultural prices and the implementation of structural programs by the IMF. Yet, a paradigm shift occurred with the emergence of the 2008 food crisis, which directed food-deficit governmental bodies to protectionist regimes supporting higher food self-sufficiency. Despite the importance of food autarky to shield domestic food markets, its effects have never been fully discussed in a formalized econometric framework. This article analyses wheat price volatility transmissions from global to local markets in 10 wheat importing countries, identifying the causality with conditional correlation functions (CCF), the degree of volatility transmissions using generalized autoregressive conditional heteroskedasticity (GARCH) models with the dynamic conditional correlation (DCC) specification and potential determinants with a panel analysis. The main findings reveal that a significant unidirectional Granger causality runs from international wheat price to local retail flour prices for wheat importing countries with an approximate five-month lag, the volatility correlations from international to local markets were strengthened around the period of the 2007–08 food crisis and a higher self-sufficiency rate plays a role in alleviating volatility passthroughs from international markets. This evidence that increasing the SSR of an agricultural commodity is effective in isolating the domestic market is valuable for policymakers in food importing countries. The primary beneficiaries of implementing the policy measure are risk-averse producers and consumers because their utility or welfare improves as the price volatility of foodstuffs declines.