Статті в журналах: "Tradable and non-tradable sector"

1

Adejumo, Afolabi O., and Sylvanus I. Ikhide. "Remittance Inflows, Real Exchange Rate Movements and Sectoral Performance in Nigeria." European Journal of Economics and Business Studies 7, no. 1 (January 21, 2017): 78. http://dx.doi.org/10.26417/ejes.v7i1.p78-88.

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The impact of remittance on international trade is often comparable to tariff changes—since exchange rate represents price of tradable goods. The appreciation of real exchange rate brings about increase in relative demand for competing importing tradable goods above domestic tradable goods given demand for non-tradable, since foreign goods are now cheaper in terms of domestic currency and there is high purchasing ability to do so. Resources re-allocation between tradable and non-tradable sector has been significant in Nigeria. Contribution of the agricultural sector to Nigeria’s GDP has shrunk over the years with the attendant threat to food production and loss of employment opportunities. This study investigates the linear relationship between remittances and real effective exchange rate on one hand and the impact of remittances and exchange rate on tradable and non-tradable sector in Nigeria. Employing DOLS regression technique on annual data ranging from 1981 and 2013, The study found that remittances influence performance of tradable agriculture, manufacturing sector and merchandise export sector in line with Dutch disease idea. Also, we found evidence that changes in exchange rate act as a channel of impact of Dutch disease on all sectors.

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2

Moon, Soojae. "The “Backus-Smith” puzzle, non-tradable output, and international business cycles." Studies in Economics and Finance 33, no. 4 (October 3, 2016): 532–52. http://dx.doi.org/10.1108/sef-01-2015-0033.

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Purpose This paper aims to examine the effects of adding non-tradable sector and trade in intermediate goods sector and their impact on the “Backus-Smith” (BS) puzzle and the features of the non-tradable output. Conventional international real business cycle models show that the real exchange rate and the terms of trade are positively correlated to the relative consumption movement between the home and foreign economies when there is a total factor productivity shock, whereas the correlation in the data is negative. The author develops a two-country, dynamic, stochastic and general equilibrium (DSGE) model with staggered price setting in the non-tradable sector and international trade in intermediate goods sector because of product differentiation in a high-asset market frictions situation. Design/methodology/approach In this paper, DGSE simulation and calibration are performed using Matlab with Dynare. Findings When the world economy has positive country-specific productivity shock, the benchmark model with non-tradable sector and intermediate goods sector successfully solves the BS puzzle and is able to match several features of the data. The dynamic responses to productivity shock show that integrating product differentiation is necessary to generate a more volatile and counter-cyclical non-tradable output. Originality/value The paper investigates the effects of incorporating non-tradable sector and trade in interemediate goods sector to standard two-country DSGE model through simulation and calibration.

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3

Lazaryan, S. S., and M. A. Elkina. "Financial Sector’s Role in Transmission of Monetary and Fiscal Shocks in Russian Economy: Estimation Under Different Assumptions About Production Sector." Financial Journal 13, no. 6 (2021): 25–53. http://dx.doi.org/10.31107/2075-1990-2021-6-25-53.

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The financial sector plays a crucial role in the economy, not only being a simple intermediary between creditors and borrowers, but also having a significant impact on the economy’s development and its various characteristics. For this reason, accounting for financial sector peculiarities is critical when developing policy-oriented general equilibrium models for practical use. This drives the interest of many researchers in development of approaches to describing the financial sector and financial frictions in DSGE models. In financial frictions models one can describe the production side of the economy in a simplistic way. However, it could be important to model the production sector in more detail. For instance, separating tradable and non-tradable sectors of the economy could be of great significance, especially for developing economies which depend on foreign trade a lot. In this paper we analyze the role of the financial sector and how important it is for transmission of monetary and fiscal shocks under different assumptions about the production sector. Namely, we compare two-sector economy with tradable and non-tradable sectors with a simplistic model which assumes that the economy produces only tradable goods. According to the results, financial frictions impact tradable and nontradable sectors asymmetrically. In the two-sector model the effect of financial frictions is quantitatively smaller than in the one-sector economy. Therefore, using the latter simplifying assumption could lead to overestimating the role of financial frictions in the transmission of monetary and fiscal shocks. In addition, the paper provides estimates of how changes in monetary and fiscal policy instruments impact the Russian economy given the existence of financial frictions.

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4

Amador, João, and Ana Cristina Soares. "Markups and bargaining power in tradable and non-tradable sectors." Empirical Economics 53, no. 2 (September 20, 2016): 669–94. http://dx.doi.org/10.1007/s00181-016-1143-z.

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5

Auricchio, Marta, Emanuele Ciani, Alberto Dalmazzo, and Guido de Blasio. "Life after public employment retrenchment: evidence from Italian municipalities." Journal of Economic Geography 20, no. 3 (July 23, 2019): 733–82. http://dx.doi.org/10.1093/jeg/lbz013.

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Abstract We investigate the interaction between public and private employment at the local level. In contrast to previous literature, which has mainly examined public sector expansions, we provide evidence about the impact of downsizing. Using data from Italian municipalities, the IV strategy we adopt here exploits the fact that the contraction in public employment observed between the last two Censuses (2001–2011) was strongly influenced by the decision made by central government, with little reference to local economic conditions. Our results suggest that exogenous reductions in public employment stimulate the growth of private jobs, mostly in tradables. The change in local prices, especially for housing services, represents a relevant channel for the interplay between the tradable and non-tradable sectors.

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6

Rangasamy, L., and C. Harmse. "Trade liberalisation, competitiveness and the real exchange rate (RER): An analysis of developments in South Africa during the 1990s." South African Journal of Economic and Management Sciences 6, no. 4 (November 15, 2003): 643–65. http://dx.doi.org/10.4102/sajems.v6i4.1511.

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This paper tests whether tariff liberalisation has lead to increased competitiveness in the South African economy. The 46 sectors of the South African economy are classified as exportable, importable, importable and exportable and non-tradable. The impact of trade liberalisation on domestic prices for importables and exportables is then assessed by making use of real exchange rate calculations. It is concluded that while increased globalisation of production processes in South Africa may have improved the competitiveness of the tradable sector, tariff liberalisation played a minimal role in improving competitiveness in the manufacturing sector.

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7

Beja Jr., Edsel L. "Do international remittances cause Dutch disease?" MIGRATION LETTERS 8, no. 2 (January 28, 2014): 132–40. http://dx.doi.org/10.33182/ml.v8i2.161.

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Dutch disease is a condition whereby a booming export sector along with a concomitant strengthening of the non-tradable sector cause a deterioration in the rest of the tradable sector. Regression analysis finds that Dutch disease due to international remittances appears to afflict the developing countries more than the upper income countries. Developing countries, however, can inoculate their economies with policies that strengthen the domestic economy and facilitate structural change to keep the disease from setting in.

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8

OJAGHLOU, Mortaza. "Tourism-Led Growth and Risk of the Dutch Disease: Dutch Disease in Turkey." International Business Research 12, no. 7 (June 24, 2019): 103. http://dx.doi.org/10.5539/ibr.v12n7p103.

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The Dutch disease phenomenon refers to the adverse effects of the supply of natural resources and production in the tradable sectors specifically the manufacturing sector. Corden and Neary (1982) and Corden (1984) developed the core model of the Dutch disease that it explains a large amount of foreign money to inside the country will appreciate real exchange rate and cause both the spending and reallocation of resources between non-tradable and tradable sectors that it will lead the country to de-industrialisation The Dutch disease is generally related to the export of natural resources; however, it can be caused by any factors that increase the flow of foreign currency into a country. According to Copelend (1991), the tourism sector is one of the most important sectors that can be the cause of the Dutch disease. Holzner (2010) called the effect of the Dutch disease on tourism-dependent countries the “Beach Disease”. The aim of this study is to investigate whether the growing tourism sector in Turkey has caused resource movement and a spending effect that have led the Turkish economy to experience the Dutch disease. The Turkish economy is one of the emerging markets that in the past few decades has experienced noticeable growth in the tourism sector, to the extent that, according to the World Travel and Tourism Council (WTTC, 2017), travel and tourism’s contribution to GDP in Turkey was 12.5% in 2016. By using several methods, such as non-linear and linear ARDL bounds tests and structural VAR, this study aims to investigate whether the Turkish economy experienced Beach Disease over the period from 1976 to 2017. Empirical evidence demonstrates that due to the growth of the tourism sector, the Turkish economy is suffering from symptoms of Beach Disease, such as de-industrialisation and resource allocation to non-tradable sectors. The results show that the Turkish economy has suffered from the Dutch disease due to a growing tourism sector, which has led to de-industrialisation and unstable long-term growth.

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9

Chipeta, Chama. "Analysing the Employment Effects of the Exchange Rate, Foreign Direct Investment and Trade Openness on South Africa’s Non-Tradable Sectors." Studia Universitatis Babeș-Bolyai Negotia 67, no. 2 (June 30, 2022): 41–70. http://dx.doi.org/10.24193/subbnegotia.2022.2.03.

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"Mounting assertions of the increased benefits of foreign trade integration, in terms of increased wages and labour, as well as factor productivity and resource reallocations, are accompanied by subsequent concerns of coexisting job destruction, particularly for countries with evidently rising unemployment and poverty levels. Such is the case for a post-apartheid South African economy, ravaged by persistently high unemployment rates amid increased trade liberalisation. In drawing meaningful inherences, this study examined the effects of South Africa’s trade openness, the real effective exchange rate and foreign direct investment (FDI) on job creation or employment in selected non-tradable sectors. A quantitative approach was used, with the aforementioned trade-related factors as explanatory variables. Employment in the non-tradable sector’s construction, finance, and the wholesale and retail trade sector served as dependent variables. A quarterly dataset from 1995Q1 to 2021Q1 was employed. While the standard Autoregressive Distributed Lag (ARDL) model was used to gauge short-run and long-run relationships. Further econometric methods such as the correlations analysis were conducted to obtain additional understanding of the nature of the set variables. Findings showed that trade liberalisation effects induce varying implications on employment in the considered non-tradable sectors, perhaps due to idiosyncratic characteristics in the nature and operational structure of each sector. Trade openness was shown to have exhibited significant long-run implications on job creation in all the sectors, whereas the parameters of the rest of the explanatory series were not significant in the long-run. Results further showcased mixed short-run effects of trade factors on employment in all sectors, with significant parameters for the real effective exchange rate and trade openness with employment in the construction sector. Including significant short-run relationships for the real effective exchange rate with employment in the finance sector. Significant parameters for employment in the wholesale and retail trade sector with FDI and the real effective exchange rate were established. Further inferences were made in expounding on the established dynamics. Keywords: job creation, employment, non-tradable sector, real exchange rate, and trade openness. JEL Classification: E24, F16, F31, O49"

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10

Adamczyk, Piotr. "Does the Volatility of Oil Price Affect the Structure of Employment? The Role of Exchange Rate Regime and Energy Import Dependency." Energies 15, no. 19 (September 21, 2022): 6895. http://dx.doi.org/10.3390/en15196895.

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The volatility of oil price as a key energy resource for modern economies has a significant impact on the macroeconomic situation. In addition to affecting aggregated production, consumption, employment and inflation, oil shocks can affect the economy in a more nuanced way. One consequence of the turmoil in the oil market may be a shift in the employment structure between the tradable and non-tradable sectors, which we investigate in this paper. The aim of this study is to test how oil price volatility affects the structure of employment in Central and Eastern European countries. Our main hypothesis is that oil price volatility causes a temporal employment reallocation between tradable and non-tradable sectors. To verify this assumption, we created Interacted Panel VAR (IPVAR), which showed that the shocks of oil price volatility affect the employment structure and this impact is conditioned by the level of dependence on energy imports and the exchange rate regime. The constructed impulse response functions showed that, in general, oil price volatility causes a temporal fall in relative employment in the manufacturing (tradable) sector. For periods of an above-average import of energy, the exchange rate regime does not matter for the response of the structure of employment. Inversely, when countries are less dependent on imports of energy, the exchange rate regime matters for shock absorption—for floats, oil price shocks cause a temporal fall in relative employment in manufacturing, whereas for pegs, there is a slight relative increase in employment in manufacturing.

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11

CHANG, MING-JEN. "HALF-LIFE DEVIATIONS FROM PURCHASING POWER PARITY: EVIDENCE FROM PACIFIC RIM COUNTRIES." Singapore Economic Review 61, no. 04 (September 2016): 1650003. http://dx.doi.org/10.1142/s021759081650003x.

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The study examines the half-life deviations from purchasing power parity (PPP) using both linear and nonlinear models for the sector specific real exchange rates of the Pacific Rim countries. By using a linear benchmark model, the estimated half-life deviations from PPP of about/or less than 3 years seemingly solve the PPP puzzle. After re-examining them using nonlinear forms, the PPP puzzle for most sectoral real exchange rates in the study still remains. More specifically, we find that deviations from PPP by TAR are persistent and take much more time for mean reversions especially for non-tradable sectors using logistic STAR / exponential STAR (LSTAR/ESTAR). The major reasons might be that conventional studies have failed to control the possible nonlinearity of real exchange rates, and have disregarded the possible bias of any single numèraire country. Finally, we also show the speed of mean reversion for real exchange rates by sectoral prices (tradable and non-tradable).

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12

Zhang, Wei-Bin. "A Synthesis of the Heckscher-Ohlin and Oniki-Uzawa Trade Models with Heterogeneous Tastes, Different Technologies, and Endogenous Wealth." Annals of the Alexandru Ioan Cuza University - Economics 62, no. 3 (November 1, 2015): 391–410. http://dx.doi.org/10.1515/aicue-2015-0027.

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Abstract This paper examines the role of preferences and technological differences between two countries in determining dynamics of global wealth and pattern of trade in a reformed H-O model of international trade. The paper builds a trade model with endogenous wealth accumulation and labor and capital distribution between sectors and between countries under perfectly competitive markets and free trade. The model is based the H-O model, the Solow-Uzawa neoclassical growth model and the Oniki-Uzawa trade model. Each country has three sectors, producing one globally homogenous tradable capital good, specifying in producing one-tradable commodity, and supplying non-tradable goods and services. The study simulates the model for the economy to demonstrate existence of equilibrium points and motion of the dynamic system. It examines effects of changes in output elasticity of an industrial sector, population expansion, and propensities to consume the domestic commodity, to consume the other country’s commodity, to consume services, and to hold wealth.

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13

Kawamura, Enrique. "Exchange rate regimes, banking and the non-tradable sector." Journal of Monetary Economics 54, no. 2 (March 2007): 325–45. http://dx.doi.org/10.1016/j.jmoneco.2005.06.003.

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14

CHIPETA, Chama, and Daniel Francois MEYER. "Trade Openness, FDI and Exchange Rate Effects on Job Creation in South Africa's Tradable Sectors." Journal of Economics and Behavioral Studies 10, no. 4(J) (September 14, 2018): 197–212. http://dx.doi.org/10.22610/jebs.v10i4(j).2421.

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Employment creation remains the pinnacle standard of sound social welfare and economic progress. It is a fundamental driver of economic development for any economy. However, such a pursuit faces tenacious challenges, especially amidst the growing global market integration. This study unravelled the effects of the underlying trade environment mechanisms such as trade openness, foreign direct investment(FDI) and the exchange rate on South Africaâ€™s job creation efforts within the tradable sectors. The study employed a quantitative analysis and included time series explanatory variables of trade openness, netFDI flows and the real effective exchange rate. Employment series of both South Africaâ€™s mining and manufacturing tradable sectors served as the dependent variables. The study made use of quarterly observations starting from 1995 to 2016. In doing so, various econometric methods were utilised. These included descriptive analyses, the standard Autoregressive Distributed Lag (ARDL) model, and the TodaYamamoto Granger Non-Causality test. Empirical ARDL results of employment in the individual mining sector, established no long-run and short-run relationships with trade openness, the real effective exchange rate and net-FDI. Employment in the manufacturing tradable sector presented significant and negative longrun relationships with trade openness, the real effective exchange rate and net-FDI. Meanwhile, the short-run findings exhibited significant and positive relationships between employment in the manufacturing tradable sector with trade openness, and significantly negative for net-FDI. However short-run results of manufacturing employment and the real effective exchange rate were not significant. Based on these results, South Africaâ€™s mining sector seems unresponsive to mechanisms in the trade environment while these relationships are relatively dynamic in the manufacturing sector. Further recommendations were thus provided to improve these interrelationships in promoting job growth and its responsiveness to trade components.

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15

Cerqua, Augusto, and Guido Pellegrini. "Local multipliers at work." Industrial and Corporate Change 29, no. 4 (March 24, 2020): 959–77. http://dx.doi.org/10.1093/icc/dtaa004.

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Abstract We propose a novel evaluation strategy to estimate local multipliers in Italy during 1996–2006. We find the presence of positive multipliers: 0.26–0.33 for the tradable sector (manufacturing) and 0.88–1.13 for the non-tradable sector (construction and services). They are lower than what was previously found for the United States but much higher than those identified for European and Asian countries. The reasons for this finding lie in the higher accuracy of the data, in the relevance of the instrument used, and in the widespread underutilization of production factors.

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16

Jabeen, Sunila, Waseem Shahid Malik, and Azad Haider. "Testing the Harrod Balassa Sameulson Hypothesis: The Case of Pakistan." Pakistan Development Review 50, no. 4II (December 1, 2011): 379–99. http://dx.doi.org/10.30541/v50i4iipp.379-399.

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For a small open economy of Pakistan, exchange rate is determined through the two alternative theories; the nominal theory of exchange rate named by Purchasing Power Parity (PPP) and the real theory known as Harrod Balassa Sameulson (HBS). According to the requirements of theories, two kinds of real exchange rate have been employed for the yearly data of 1972-2008. As, both of the theories are disputed at the ground of their long run relationship with real exchange rate, therefore, the VAR based Johenson Co-integration approach has been utilised to see the long run relationships. PPP has shown less satisfactory results either in its form of absolute version or relative version. Because, real exchange rate in Pakistan is a non-stationary process by Augmented Dickey Fuller unit-root test, predicting some pushing force behind the non-tradable sector. While favouring the PPP in tradable sector, the ADF and KPSS are indicating the presence of the HBS in Pakistan. On the other hand, the analysis of the HBS through co-integration is showing that relative productivity difference has an opposite relationship with relative non-tradable sector prices and with RER. However, the relationship between relative non-tradable sector prices and RER is much stronger and according to the theory. So, there have been incorporated some demand side and external factors to reduce the mis-specification of the simple HBS model. Therefore, in the extended HBS model, productivity difference, government consumption expenditure, terms of trade and world oil prices are appreciating the RER and money supply (a control variable) is pursuing depreciation in RER. So, these results yield some policy implications for Pakistan which can be useful for developing countries as well. JEL classification: E0, E31, E44 Keywords: Harrod-Balassa-Samuelson, Exchange Rate, Purchasing Power Parity, Pakistan

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17

Hlatshwayo, Sandile, and Michael Spence. "Demand and Defective Growth Patterns: The Role of The Tradable and Non-Tradable Sectors in an Open Economy." American Economic Review 104, no. 5 (May 1, 2014): 272–77. http://dx.doi.org/10.1257/aer.104.5.272.

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This paper examines the underlying structural elements of US growth patterns, pre- and post-crisis. Prior to the recession, the US economy exhibited a defective growth pattern driven by outsized domestic demand. As domestic aggregate demand retreats to more sustainable levels relative to total income, the tradable side of the economy is a catalyst for restoring strong growth. A structural rebalancing is already underway; although it is only a third of the economy, the tradable sector generated more than half of gross gains in value-added since the start of the recovery. However, distributional issues loom on the horizon.

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18

Yuliyanti, Rifa Diana, and Raldi Hendro Koestoer. "OPTIMASI SPASIAL SEKTOR UNGGULAN PADA ANALISIS SEMI INPUT–OUTPUT: STUDI KASUS PROVINSI JAWA TIMUR." J-PIPS (Jurnal Pendidikan Ilmu Pengetahuan Sosial) 2, no. 2 (June 30, 2016): 105. http://dx.doi.org/10.18860/jpips.v2i2.6837.

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East Java Province has a relatively complex region therefore challenges to promote and Encourage the regional economic growth are escalated. One of the technique to improve is through a search of their leading sector that reflects real effective and efficient robust export sector. Meanwhile, the distribution of the strongest tradable and export-led sector in provincial regional level remains limited for economic development study, this research attempts to explore it in provincial regional level for two periods of Input-Output (I-O) analysis.The research observed the movement of sector value from I-O analysis in 2006 tothe year 2010’s I-O analysis. Combination approach performed with I-O analysis that separates between the tradable and nontradable group of sectors formerly which is called Semi InputOutput. Followed by modification of ‘flow-on effects’multiplier and Location Quotient that represent the spatial dimension of the sector, the spatial–regional base distribution expresses subtly the result of the leading sector in defining natural resources capacity which is available through its distribution. Keywords : Spatial; Input-Output; Semi Input-Output; Location Quotient; Flow-on effects; Tradable

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19

Bertoldi, Paolo, Silvia Rezessy, and Diana Ürge-Vorsatz. "Tradable Certificates for Energy Savings: Opportunities, Challenges, and Prospects for Integration with other Market Instruments in the Energy Sector." Energy & Environment 16, no. 6 (November 2005): 959–92. http://dx.doi.org/10.1260/095830505775221498.

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Policy portfolios that include tradable green certificates have been introduced in several European countries to foster market-driven penetration of renewable energy sources. Another widely analysed type of market-based instrument in the energy sector is the tradable emission allowance. Recently tradable certificates for energy savings as a tool to stimulate energy efficiency investments and deliver energy savings have attracted the attention of policy makers. While such schemes have been introduced in different forms in Italy and the Great Britain and considered in other European countries, there is an ongoing debate over their effectiveness and applicability. The paper describes the concept and main elements of schemes that involve tradable certificates for energy savings (TCES) and how these have been put into practice in Italy and the Great Britain. It then compares TCES schemes with energy taxation and mandatory demand-side management (DSM) programs using a set of four criteria. Integration with green certificates and CO2 emissions trading schemes is examined and some possibilities for practical implementation are outlined.

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20

Yeh, Sonia, Dallas Burtraw, Thomas Sterner, and David Greene. "Tradable performance standards in the transportation sector." Energy Economics 102 (October 2021): 105490. http://dx.doi.org/10.1016/j.eneco.2021.105490.

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21

Tanaka, Makoto. "Multi-Sector Model of Tradable Emission Permits." Environmental and Resource Economics 51, no. 1 (May 22, 2011): 61–77. http://dx.doi.org/10.1007/s10640-011-9488-4.

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22

Leite, Vasco, Sofia B. S. D. Castro, and João Correia-da-Silva. "A third sector in the core-periphery model: non-tradable goods." Annals of Regional Science 50, no. 1 (November 12, 2011): 71–108. http://dx.doi.org/10.1007/s00168-011-0479-8.

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23

Hong, Sungwan, Soo Hyun Oh, and Seung-Gyu Sim. "Imperfect labor mobility and the trickle-down effect in international trade." Journal of Korea Trade 22, no. 1 (March 5, 2018): 68–83. http://dx.doi.org/10.1108/jkt-09-2017-0084.

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Purpose Unlike the common belief in the so-called “trickle-down effect,” trade-induced output growth in a small open economy does not necessarily improve the domestic welfare of the economy. The purpose of this paper is to analyze the conditions under which the trickle-down effect does not work properly such that the connection between trade-induced output growth and welfare improvement is broken. Design/methodology/approach This paper introduces an inter-sectoral migration barrier in the general equilibrium model and conducts various simulation experiments under reasonable parameter values. Findings This paper demonstrates that subsidizing export industries may raise the total value-added of an economy but deteriorate aggregate welfare. This worsens especially when the supply of non-tradable domestic goods is inelastic, and the demand for them is more substitutable by tradable goods. Practical implications To reinforce the trickle-down effect, it is necessary to facilitate efficient labor reallocation and to induce capitalization in the non-tradable sector. Originality/value That output growth and welfare improvement do not always move in the same direction requires a reappraisal of the former common belief on the trickle-down effect which emphasizes output growth as an indicator of welfare improvement.

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Fang, Lin, and Fengping Wu. "Can Water Rights Trading Scheme Promote Regional Water Conservation in China? Evidence from a Time-Varying DID Analysis." International Journal of Environmental Research and Public Health 17, no. 18 (September 14, 2020): 6679. http://dx.doi.org/10.3390/ijerph17186679.

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Using the panel data of 30 provinces in China from 1998 to 2017, we adopt a time-varying difference-in-differences (time-varying DID) model to estimate the impact of water rights trading scheme on regional water consumption. The results show that water rights trading can significantly promote water conservation in the pilot regions by 3.1% compared to that in the non-pilot regions, and a series of robustness tests show consistent results. Policy effects are mainly driven by improving water-use efficiency and adjusting water structure; that is, by transferring water resources from the agricultural sector to the other sectors, agricultural water efficiency is improved and water conflict among sectors is alleviated; thus, water saving is achieved. In addition, by constructing two indexes of regional water pressure and tradable water resources, our heterogeneity analysis shows that water rights trading performs better in areas with high water pressure and large tradable water resources. Under the high pressure of large water use and low water endowment, water rights trading will evidently reduce water consumption more so than in the low-pressure regions, and with water rights trading, it is hard to achieve a policy effect in regions without sufficient tradable water resources. This paper provides important policy implications for China for further promoting the water rights trading scheme in the field of resource conservation.

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Lombardo, Giovanni, and Federico Ravenna. "The size of the tradable and non-tradable sectors: Evidence from input–output tables for 25 countries." Economics Letters 116, no. 3 (September 2012): 558–61. http://dx.doi.org/10.1016/j.econlet.2012.05.047.

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Zhang, Wei-Bin. "GLOBAL DEVELOPMENT, TRADE, HUMAN CAPITAL, AND BUSINESS CYCLES." Oradea Journal of Business and Economics 5, Special (June 2020): 9–29. http://dx.doi.org/10.47535/1991ojbe094.

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This paper generalizes the multi-country growth model with capital accumulation, human capital accumulation, economic structure and international trade by Zhang (2014) by making all the time-independent parameters in Zhang’s model as time-dependent parameters. Each national economy consists of one tradable, one non-tradable and one education sector. National economies are different in propensities to save, to obtain education and to consume, and in learning abilities. The model integrates the Solow growth model, the Uzawa two-sector growth model, the Uzawa-Lucas two-sector growth model, and the Oniki–Uzawa trade model within a comprehensive framework. Human capital accumulation is through education in the Uzawa-Lucas model, Arrow’s learning by producing, and Zhang’s learning by consuming (creative learning). The behavior of the household is described with an alternative approach to household behavior. We simulated the model to demonstrate existence of equilibrium points, motion of the dynamic system, and oscillations due to different exogenous shocks.

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DVOSKIN, ARIEL, GERMÁN DAVID FELDMAN, and GUIDO IANNI. "On the role of the exchange rate as a tool for industrial competitiveness." Brazilian Journal of Political Economy 40, no. 2 (June 2020): 310–31. http://dx.doi.org/10.1590/0101-31572020-3077.

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ABSTRACT By means of a two-tradable-sector model for an open, price-taking economy inspired by the Classical-Sraffian tradition, which conceives the pattern of trade as a technical-choice problem, we examine some difficulties with the recourse to exchange-rate policy as a tool to promote sectorial competitiveness. To this aim, we distinguish among economies that only produce manufactures from those in which the most profitable sector exploits natural resources under conditions of differential rent. We show that, when both tradable sectors produce industrial goods, conventional devaluation does not generally allow one domestic sector to reach international competitiveness without damaging the other. While when the prevailing sector operates under conditions of differential rent, even though the development of a new sector - by setting the exchange rate at its “industrial-equilibrium” level - is possible, this requires that the policymaker determines the effect of changes in the exchange rate, both in direction and magnitude, on the other distributive variables.

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Jiang, Mingming. "TRADE OPENNESS, GOVERNMENT SIZE, AND FACTOR INTENSITIES." Macroeconomic Dynamics 20, no. 6 (September 28, 2015): 1581–99. http://dx.doi.org/10.1017/s1365100515000012.

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This paper examines the long-run relationship between trade openness and government size in a two-country dynamic general equilibrium model. We analytically show that different factor intensities in the production of tradable and nontradable sectors affect the government's response to changes in trade openness. Specifically, if the production of the nontradable sector is more capital-intensive, a positive relationship between trade openness and government size will be observed. In contrast, if the production of the tradable sector is more capital-intensive, a negative correlation between trade openness and government size will arise. This theoretical prediction is robust to both utility-enhancing and productive government expenditures. The differentiated factor intensities therefore provide a potential explanation to the mixed empirical findings in the literature about the long-run relation of trade openness and government size.

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Rossi-Hansberg, Esteban, Pierre-Daniel Sarte, and Felipe Schwartzman. "Local Industrial Policy and Sectoral Hubs." AEA Papers and Proceedings 111 (May 1, 2021): 526–31. http://dx.doi.org/10.1257/pandp.20211076.

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We study the desirability of industrial policies that generate sectoral hubs using a quantitative spatial model with cognitive nonroutine and other occupations. The productivity of each occupation in an industry depends on sector-specific production externalities, which we estimate using a model-implied instrumental variable approach. We find that the optimal policy gives rise to national hubs in coastal cities in tradable services, like professional services, and smaller regional hubs in less tradable services, like health and education. The optimal policy prescribes developing manufacturing in smaller towns. We decompose the implied changes in local costs and the available varieties in each sector.

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Ben Yahmed, Sarra, and Pamela Bombarda. "Gender, Informal Employment and Trade Liberalization in Mexico." World Bank Economic Review 34, no. 2 (March 14, 2019): 259–83. http://dx.doi.org/10.1093/wber/lhy020.

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Abstract This paper studies how import liberalization affects formal employment across gender. The theory offers a mechanism to explain how male and female formal employment shares can respond differently to trade liberalization through labor reallocation across tradable and nontradable sectors. Using Mexican data over the period 1993–2001, we find that Mexican tariff cuts increase the probability of working formally for both men and women within four-digit manufacturing industries. The formalization of jobs within tradable sectors is driven by large firms. Constructing a regional tariff measure, we find that regional exposure to import liberalization increases the probability of working formally in the manufacturing sector for both men and women, and especially for men. However in the service sectors, the probability of working formally decreases for low-skilled women.

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31

Kurbatova, Tetiana, Roman Sidortsov, Iryna Sotnyk, Oleksandr Telizhenko, Tetiana Skibina, and Hynek Roubík. "Gain without pain: an international case for a tradable green certificates system to foster renewable energy development in Ukraine." Problems and Perspectives in Management 17, no. 3 (September 30, 2019): 464–76. http://dx.doi.org/10.21511/ppm.17(3).2019.37.

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This paper elaborates on the theoretical and methodological fundamentals of a tradable green certificates system to foster renewable energy development in Ukraine. It proposes a management mechanism premised on the classical market model of tradable green certificates aiming at increasing the share of electricity from renewable energy sources in the country’s energy mix. Organizational stages of the mechanism formation at the national level and a methodological approach to assess green electricity generation cost are developed. The modeling has shown that the annual increase in the cap for green electricity consumption by 1% will raise the electricity tariff by 3%, which is not a significant financial burden for consumers. The proposed changes in the tradable green certificates system can be an effective management tool to achieve the required amount of electricity from renewable energy sources in the country’s total electricity consumption and to foster the development of the Ukrainian renewable energy sector.

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32

Dobes, Leo. "Kyoto: Tradable greenhouse emission permits in the transport sector." Transport Reviews 19, no. 1 (January 1999): 81–97. http://dx.doi.org/10.1080/014416499295682.

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33

Milas, Costas K. "Employment, output and political business cycle effects in the Greek non-tradable sector." Applied Economics 32, no. 2 (February 2000): 123–33. http://dx.doi.org/10.1080/000368400322822.

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34

Bebee, Jared, and Ben Hunt. "Rapidly Rising Energy Prices: Does the Driver of the Energy Market Imbalance Matter?" National Institute Economic Review 199 (January 1, 2007): 114–25. http://dx.doi.org/10.1177/0027950107077130.

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This paper uses a variant of the IMF's Global Economy Model (GEM) to examine the macroeconomic impact of the rise in energy prices since the end of 2003 in the Euro Area, the United Kingdom and the United Sates. The analysis illustrates how the impact varies across these countries based on their level of energy use and energy production. In addition, the analysis uses Euro Area simulations to consider how the macroeconomic implications depend on the factors driving higher energy prices. If labour supply or tradable sector productivity increases in emerging Asian economies are an important factor driving energy price increases, then industrial countries receive some positive terms-of-trade effects coming through non-energy tradable goods that offset some of the negative implications of permanently higher real energy prices. The stronger are the industrial countries' trade links with emerging Asia, the larger will be the offsets.

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35

Niftiyev, Ibrahim. "Performance Evaluation of the Fruit and Vegetable Subsectors in the Azerbaijani Economy: a Combinatorial Analysis Using Regression and Principal Component Analysis." Zagreb International Review of Economics and Business 24, s1 (December 1, 2021): 27–47. http://dx.doi.org/10.2478/zireb-2021-0018.

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Abstract Azerbaijan has an oil-led economy, which according to the well-known resource curse and Dutch disease hypotheses decreases the role of non-oil tradable sectors. Nevertheless, the government has actively fostered the growth of non-oil tradable sectors as the export orientation of Azerbaijan is being leveraged by the recently adopted economic policies. However, performance evaluations at the subsectoral level remain rare. The present paper evaluates the performance of the fruit and vegetable subsectors in Azerbaijan from 1995 to 2020 based on multiple key indicators, such as production, profitability, and productivity via principle component analysis (PCA). The purpose of the study was to provide a comparison of two key subsectors in Azerbaijan that are strong candidates for non-oil tradable exports. The results revealed that the vegetable subsector outperformed the fruit subsector in terms of production and profitability from 1999 to 2014; however, it experienced a sharp decline from 2014 to 2015 (the period of the rapid commodity price downturns), which gives rise to the question of whether the extractive industry negatively affected the subsector. Compared to the vegetable subsector, production and profitability in the fruit subsector demonstrated a more stable upward trend. In addition, labor input in both sub-sectors decreased over time, indicating efficiency gains via new technology transfers and productivity enhancements. Ordinary Least Squares (OLS) results demonstrated a strong and statistically significant negative relationship between the performance of the vegetable subsector with the oil revenue boom period (2008–2015).

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Siregar, Cavin Dennis Tito, and Estro Dariatno Sihaloho. "Could Palm Oil Plantation Increase Individual Expenditure? The Dutch Disease Implication in Indonesia." Signifikan: Jurnal Ilmu Ekonomi 10, no. 1 (March 14, 2021): 77–92. http://dx.doi.org/10.15408/sjie.v10i1.15831.

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Indonesia is the largest palm-oil producing country, covering almost 80 percent of global production. With the extensive production capacity, this research seeks to analyze the linkages between palm oil production and its impact on the economy by the individual monthly expenditure. To reveal the connections, this research analyzes the Dutch Disease phenomenon in Indonesia, which explains how the non-tradable sector, palm-oil industry, affects the tradable sector like the manufacturing industry. The panel data variables are selected from 2011 to 2015 within 22 provinces to see the Dutch Disease's implications. As the model is suffered from the endogeneity, the correlation of explanatory variables with the error term, the research uses the Instrumental-Variable Regression method. The analysis indicates that Indonesia was not suffered from Dutch Disease. Therefore, palm oil production could increase individual expenditure. Finally, the extension of palm oil plantations could benefit Indonesia's economy without affecting other sectors.JEL Classification: E21, E24, O13, O44How to Cite:Siregar, C. D. T., & Sihaloho, E. D. (2021). Could Palm Oil Plantation Increase Individual Expenditure? The Dutch Disease Implication in Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 77-92. doi: http://doi.org/10.15408/sjie.v10i1.15831.

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37

Diekmann, Katharina, and Frank Westermann. "Financial development and sectoral output growth in nineteenth-century Germany." Financial History Review 19, no. 2 (April 3, 2012): 149–74. http://dx.doi.org/10.1017/s0968565012000066.

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In this article we re-evaluate the hypothesis that the development of the financial sector was an essential factor behind economic growth in nineteenth-century Germany. We apply a structural VAR framework to a new annual data set from 1870 to 1912 that was initially compiled by Walther Hoffmann (1965). With respect to the literature, the distinguishing characteristic of our analysis is the focus on different sectors in the economy and the interpretation of the findings in the context of a two-sector growth model. We find that all sectors were affected significantly by shocks from the banking system. Interestingly, this link is the strongest in sectors with small or non-tradable-goods-producing firms, such as construction, services, transportation and agriculture. In this regard, the growth patterns in nineteenth-century Germany are similar to those in today's emerging markets.

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38

Akkoyun, Hüseyin Çağrı, Yavuz Arslan, and Mustafa Kılınç. "Risk sharing and real exchange rates: The role of non-tradable sector and trend shocks." Journal of International Money and Finance 73 (May 2017): 232–48. http://dx.doi.org/10.1016/j.jimonfin.2017.02.003.

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39

Zhemkov, Michael I. "Regional effects of inflation targeting in Russia: Factors of heterogeneity and structural inflation rates." Voprosy Ekonomiki, no. 9 (September 4, 2019): 70–89. http://dx.doi.org/10.32609/0042-8736-2019-9-70-89.

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Inflation targeting in Russia implies maintaining stable low inflation at a level of 4% throughout the country. The presence of structural factors in some regions can determine deviations from the all-Russian inflation, which can lead to different effects of monetary policy in Russian regions. In this paper, we analyze regional heterogeneity of inflation and factors of inflation deviations from the national average, estimate structural levels of inflation in the regions of Russian Federation. These estimates confirm the presence of some regional factors of inflation deviations from the all-Russian indicator, such as the difference in productivity growth of the tradable and non-tradable sectors (Balassa—Samuelson effect), effective exchange rates, real incomes and product stocks. In addition, our results confirm the presence of regions with price growth rate above and below monetary policy target. The results of this research can be used for the development of monetary and communication policies.

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40

Cui, Chunying, and Ziwei Yan. "Does the Digital Economy Promote Domestic Non-Tradable Sectors?: Evidence from China." Sustainability 15, no. 3 (February 1, 2023): 2617. http://dx.doi.org/10.3390/su15032617.

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The impact of the digital economy (DE) has become the important faction of the market volume of domestic non-tradable sectors (DNSs). As rising digitalization supersedes traditional market power as a driving force, there is increasing concern about the volume of trade and economy; however, the literature of how the DE procession changed the DNS’s are limited, although the Chinese government is eager to enlarge the scale of the domestic market to be consistent with the trend of digitalization. This paper addressed this issue by employing a series of data from prefecture-level cities between 2010 and 2019 in China. Using panel data methods under fixed effect, synthetic difference-in-differences (SDID), and temporal-spatial econometrics, the paper’s hypothesis sheds light on the positive impact of the DE on DNSs. The regression results showed a 14.84% of improvement for the effects of DE development on DNS growth. The policy impact effect increased the average treatment effect by 3.9% average treatment effect, accompanied by temporal and spatial correlations. Further analysis illustrated that a possible intermediary mechanism through which the DE promotes the development of DNSs is the enhancement of the local product market development. It was concluded that policy-makers of developing countries should be devoted to breaking down domestic trade barriers among different regions to enhance the benefits of digitalization.

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41

Pitigala, Nihal, and Jose Lopez-Calix. "Trade policy options for export diversification: The case of Mali, Chad, Niger, and Guinea." Journal of Infrastructure, Policy and Development 4, no. 2 (January 27, 2021): 261. http://dx.doi.org/10.24294/jipd.v4i2.1200.

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The landlocked and fragile countries’ ability to create a sustainable path to economic growth and poverty reduction is inextricably linked to their export diversification potential, itself related to their connectivity within themselves, in the region, and other external markets. Mali, Chad, and Niger are first challenged by their geography—their landlocked nature with their vast and thinly populated space serves to isolate the most vulnerable communities from external and internal markets. Adding to these geographic disadvantages non-landlocked is incentive environment—defined by high and variable customs common external tariff regimes resulting from multiple overlapping regional trade arrangements—places a wedge between domestic and international prices, provides a disincentive to exports in favor of non-tradable and domestic-oriented sectors. By bringing greater coherence and convergence between the many common external tariff regimes in operation and the rationalization of their structures, and improving connectivity within and between markets, Mali, Chad, Niger, and Guinea can better promote the reallocation of resources toward tradable goods and services, putting the countries on a path toward greater economic inclusion and sustainable growth.

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42

de Moraes Rocha, Roberta, and Breno Caldas de Araújo. "Local multiplier effect of the tradable sector on the Brazilian labor market." Letters in Spatial and Resource Sciences 14, no. 3 (October 21, 2021): 269–86. http://dx.doi.org/10.1007/s12076-021-00278-1.

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43

OKUDA, Takaaki. "Impact Analysis on introducing Domestic Tradable Permits to Japanese Intercity Transport Sector." Proceedings of the Symposium on Global Environment 16 (2008): 145–53. http://dx.doi.org/10.2208/proge.16.145.

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44

Wadud, Zia, Robert B. Noland, and Daniel J. Graham. "Equity analysis of personal tradable carbon permits for the road transport sector." Environmental Science & Policy 11, no. 6 (October 2008): 533–44. http://dx.doi.org/10.1016/j.envsci.2008.04.002.

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45

Xu, Lihe, Jiaqi Liu, and Xiaoshan Yan. "Does Road Investment Really Promote the Export? Evidence from Sichuan County-level Data of China." Review of European Studies 10, no. 2 (May 24, 2018): 197. http://dx.doi.org/10.5539/res.v10n2p197.

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Whether road infrastructure promotes export is still a concerned issue debated in the previous studies. In this paper, we conduct a panel data using two data sources from year 2003 to 2013, examining the relationship between road investment and export. The primary results show that road investment significantly restricts local export. A further test indicates that the road infrastructure benefits service sector, 1) abstract more private capital investment on service sector than manufacturing sector, 2) reduce the employee of tradable sector. Then manufacturing sector was constrained. The results are robust when a set test is carried out.

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46

Hall, S. G., and S. G. B. Henry. "An Independent Bank of England: Is that Enough." National Institute Economic Review 196 (April 1, 2006): 120–27. http://dx.doi.org/10.1177/0027950106067052.

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This article argues that an independent central bank is not in itself sufficient to ensure the long-term success and stability of the economy. While there are strong academic arguments for making the central bank independent, these arguments are often developed in a closed economy setting. Where trade is important and the economy is open, making the central bank independent can lead to a strategic interaction between the bank and the fiscal authorities which can produce serious imbalances in the economy over time. In particular, the analysis below suggests that there could be excess demand in the non tradable sector combined with a recession in the sectors of the economy open to trade. Our contention is that the UK economy exhibits all the signs that we would expect to see if this argument were relevant.

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Gierczyńska, Kornelia. "Abundance of the natural resources as a factor, which destimulates economic growth. Looking for the Dutch disease in Russia." Oeconomia Copernicana 1, no. 1 (December 31, 2010): 43–64. http://dx.doi.org/10.12775/oec.2010.003.

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In general thinking, countries possessing rich natural resource deposits are blessed, as resource abundance has seemingly positive correlation with the wealth and economic development of a nation. However, experience shows that countries endowed with extreme amounts of natural resources have found themselves in a serious misuse and on a damaging growth path. Extraordinary resource possession is rather an opportunity than a guarantee for better economic performance. The term “Dutch disease” refers to a situation in which new discoveries of natural resources or sharp rises in commodity prices lead to an increase in the equilibrium real exchange rate, thus undermining the competitiveness of the other tradable sectors in the economy. As suggested in the academic literature the Dutch disease is associated ith four main symptoms: a slowdown in manufacturing output, a booming non-tradable sector, an increase in real wages and real exchange rate appreciation. Russia’s oil price dependence and the risk of the Dutch disease are often considered as the main long-term challenges to sustainable growth in the country. In this regard, it is worth studying the available economic data for evidence of these phenomena. Russia’s oil price dependence and the risk of the Dutch disease are often considered as the main long-term challenges to sustainable growth in the country. In this regard, it is worth studying the available economic data for evidence of these phenomena. The main section examines whether in Russia: exports have become more biased towards oil and gas, GDP growth has become more sensitive to oil price fluctuations, the economy is showing symptoms of the Dutch disease.

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Gurvich, E., V. Sokolov, and A. Ulyukaev. "The Impact of the Balassa-Samuelson Effect on the Real Ruble Exchange Rate: The Assessment." Voprosy Ekonomiki, no. 7 (July 20, 2008): 12–30. http://dx.doi.org/10.32609/0042-8736-2008-7-12-30.

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The article presents an empirical investigation of the impact of the Balassa-Samuelson effect on the real ruble appreciation in 1999-2007. We consider long-run, supply-side determinants of the real ruble exchange rate, such as changes in terms of trade and labor productivity. Using Russian and German data on price and productivity differentials between tradable and non-tradable sectors of the two economies, we estimate the significance of oil price shocks and the Balassa-Samuelson effect for the real ruble appreciation. Our study demonstrates that, on average, about 1/3 of the observed appreciation can be attributed to the Balassa-Samuelson effect. The cointegrating relationship between the productivity differential and the real exchange rate provides evidence of the healthy nature of the economic growth, which took place in Russia during the time period under investigation. These findings suggest that exchange rate adjustments should be used by the Central Bank of Russia mainly as a monetary policy instrument for fighting inflation rather than as a tool for competitive devaluations.

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Festić, Mejra, Sebastijan Repina, and Alenka Kavkler. "THE OVERHEATING OF FIVE EU NEW MEMBER STATES AND CYCLICALITY OF SYSTEMIC RISK IN THE BANKING SECTOR." Journal of Business Economics and Management 10, no. 3 (September 30, 2009): 219–32. http://dx.doi.org/10.3846/1611-1699.2009.10.219-232.

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Rapid credit growth has been one of the most pervasive developments in recent years in Central and Eastern Europe. We tested for the significance of macroeconomic and banking sector variables that condition non‐performing loan ratios and the hypothesis of procyclicality between economic activity and improving banking‐sector results in the Baltic States, Bulgaria and Romania. The theory of procyclicality between economic activity and the non‐performing loan ratio was proven. The increased economic activity improved the loan portfolio quality of the banking sector, as indicated by a lower NPL ratio. Due to a high share of loans denominated in a foreign currency and the fact of productivity gains in the tradable sector, the appreciation of the real exchange rate contributed to an improvement in loan portfolio quality. The procyclicality of banking sector performance and high economic activities growth could be a signal of an economy overheating and therefore a slowdown in economic activity is likely to accelerate the growth of the non‐performing loan ratio in the Baltic States, Bulgaria and Romania.

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Marjanović, Vladislav. "Structural Changes and Structural Transformation in a Modern Development Economy." Economic Themes 53, no. 1 (March 1, 2015): 63–82. http://dx.doi.org/10.1515/ethemes-2015-0005.

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AbstractThe concepts of structure and structural changes can be applied in many different ways. Relatedly, the roughest distinction is reflected in two approaches: development economics approach and econometric approach. This paper will rely on the development economics, because it seems that the econometric approach oversimplifies the structural analysis and structural changes. Development economics, which evolved through the interaction between theoretical research and empirical studies, deals with many issues related to structure and growth in less developed (developing) countries. In development economics, the economic structure analysis is observed mostly through micro and macro approach. The paper relies on a macroeconomic approach which views the economic development as a set of interrelated long-term processes of structural transformation accompanying the growth.Unlike the neoclassical approach, which makes a simple distinction of the economy to sectors producing tradable goods (with a high substitution) and sectors producing non-tradable goods, development economics studies structural adjustments of much serious complexity. Unlike other branches of economy, development economics has no universally accepted doctrine or paradigm. Instead, it is based on continuous evaluation of thinking, creating a ground for understanding the processes of modern economic development.

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