China’s foreign trade policy with OPEC member countries

2017 ◽  
Vol 10 (1) ◽  
pp. 61-81 ◽  
Author(s):  
Ehsan Rasoulinezhad
Keyword(s):  
Foreign Trade ◽  
Trade Policy ◽  
Gravity Model ◽  
Natural Resource ◽  
Bilateral Trade ◽  
Random Effect ◽  
Ordinary Least Squares ◽  
Foreign Trade Policy ◽  
Content Type ◽  
Opec Member

Purpose The purpose of this paper is to analyze specifications of the China’s foreign trade policy with Organization of the Petroleum Exporting Countries (OPEC) member countries. Design/methodology/approach The paper conducts three panel data estimations (fixed effect [FE], random effect [RE] and fully modified ordinary least squares [FMOLS]) based on the gravity model approach for bilateral trade patterns in natural resource and non-natural resource commodities between China and 13 OPEC members over the period of 1998-2014. Findings The findings reveal that the gravity equation fits the data reasonably well. The existence of long-term relationships between the bilateral trade flows and the main components of gravity model – GDP, income (GDP per capita), the difference in income, exchange rate, the openness level, distance and WTO membership – through the FE, RE and the FMOLS approaches was confirmed. The estimation results show that the trade pattern between China and OPEC member countries relies on the Heckscher–Ohlin theory, thus being explained by difference in factor endowments such as energy resources and technology. Originality/value To the best of the authors’ knowledge, this is the first attempt to examine the China’s foreign trade policy with the OPEC member countries through a gravity trade approach.

BRICS-United Nations regional groups’ trade patterns: a panel-gravity approach

2018 ◽  
Vol 11 (2) ◽  
pp. 151-179 ◽  
Author(s):  
Farkhondeh Jabalameli ◽  
Ehsan Rasoulinezhad
Keyword(s):  
United Nations ◽  
Foreign Trade ◽  
Bilateral Trade ◽  
Random Effect ◽  
Transportation Cost ◽  
Ordinary Least Squares ◽  
The Other ◽  
Trade Pattern ◽  
Trade Patterns ◽  
Content Type

Purpose The purpose of this paper is to analyze and compare the similarities in the foreign trade patterns of China and the other BRICS (Brazil, Russia, India, China and South Africa) members. Design/methodology/approach Three panel data estimations, namely, fixed effect, random effect and fully modified ordinary least squares, have been conducted in this paper based on the gravitational model of international trade for bilateral trade of each BRICS member with five United Nations (UN) regional groups from 2001 to 2015. Findings The results revealed that Russia has a dissimilar trade pattern, based on the Heckscher–Ohlin (H-O) framework, with these five regional groups, while the other BRICS members follow the Linder hypothesis. Furthermore, it was found that China has a faster pace of globalization, while the rest of the BRICS members have experienced regionalization rather than globalization. In addition, geographical distance, as a proxy for transportation cost, has a weaker negative effect on the trade patterns of China and India, which makes the trade patterns of BRICS members dissimilar. Originality/value To the best of the authors’ knowledge, this paper is the first attempt to examine and compare the BRICS member countries’ foreign trade pattern through a gravity trade approach.

scholarly journals Geo-economics and the Hub and Spokes system: the Japanese case

2021 ◽  
Vol 9 (3) ◽  
pp. 33-52
Author(s):  
Ricardo Vega
Keyword(s):  
Foreign Trade ◽  
Trade Policy ◽  
Bilateral Trade ◽  
Balance Of Power ◽  
Trade Agreements ◽  
International Markets ◽  
Foreign Trade Policy ◽  
Japanese Case ◽  
The World

This paper examines the reasons why Japan has been building a foreign trade policy based on a hub-and-spokes system. It will be argued that trade efficiency and exports promotion are assumptions that need a broader reconsideration through a geo-economics approach. What defines Japan’s pursuit of several bilateral trade agreements is assuring its relative economic hegemony whilst changes in the world balance of power are taking place. As Japan faces an uncertain and unforeseeable future, it needs to strengthen its trade policy to guarantee access to international markets. Japan’s trade policy goes beyond the efficiency scope and it entails a geo-economics elucidation.

Iran’s trade policy of Asianization and de-Europeanization under sanctions

2017 ◽  
Vol 44 (4) ◽  
pp. 552-567 ◽  
Author(s):  
Mohammad Nasre Esfahani ◽  
Ehsan Rasoulinezhad
Keyword(s):  
Trade Policy ◽  
Bilateral Trade ◽  
Positive Impact ◽  
Foreign Trade Policy ◽  
Asian Countries ◽  
Trade Patterns ◽  
Nuclear Program ◽  
Content Type ◽  
Negative Effect ◽  
Model Approach

Purpose The purpose of this paper is to find out whether under sanctions, Iran’s trade direction has shifted from Europe (trade policy of de-Europeanization) toward Asia (trade policy of Asianization). Design/methodology/approach The paper conducts three panel data estimations (FE, RE, and FMOLS) based on the gravity model approach for bilateral trade patterns between Iran-25 EU members and Iran-25 Asian countries over the period 2006-2013. Findings The empirical evidence indicates a significant negative effect of sanctions on Iran-EU bilateral trade, while it has a positive impact on trade between Iran and the Asian countries. These findings empirically confirmed that the imposition of various sanctions related to the Iran’s nuclear program has pushed the foreign trade policy of this country toward Asianization and away from Europeanization. Originality/value To the best of the authors’ knowledge, this paper is the first attempt to examine the Iran’s trade policy changing under the imposition of sanctions related to its nuclear program.

BITs represent foreign trade policy shift for Brazil

2015 ◽  
Keyword(s):  
Foreign Trade ◽  
Trade Policy ◽  
Foreign Investment ◽  
Sovereign Debt ◽  
Foreign Trade Policy ◽  
Content Type ◽  
Investment Protection ◽  
Domestic Legislation ◽  
Major Shift ◽  
International Instruments

Subject Brazil's shifting foreign trade policy. Significance Although Brazil signed a dozen Bilateral Investment Treaties (BITs) in the 1990s, they never came into effect. Since then, Brazil has steadfastly opposed participation in the network of BITs currently in force, addressing foreign investment protection through domestic legislation and international instruments such as double taxation treaties. However, in April, Brazil concluded investment agreements with Mozambique and Angola and is negotiating others. This is a major shift in foreign investment policy and also sets the stage for a new form of BIT that may be attractive to other emerging countries. Impacts How these vaguely worded BITs will work out in practice is still to be determined. Coverage of intellectual property rights and sovereign debt as protected investments is uncertain. Private sector and civil society involvement is a novel feature that could be included in future BITs.

Russia's Foreign Trade Policy

2003 ◽  
pp. 154-157
Author(s):  
N. Shchebarova
Keyword(s):  
Foreign Trade ◽  
Trade Policy ◽  
Foreign Trade Policy

.

Free Trade versus Protection : Static and Dynamic Aspects

1985 ◽  
Vol 24 (1) ◽  
pp. 39-50
Author(s):  
Gunnar Flфystad
Keyword(s):  
Developing Countries ◽  
Foreign Trade ◽  
Trade Policy ◽  
Empirical Evidence ◽  
Free Trade ◽  
Optimal Taxation ◽  
Foreign Trade Policy ◽  
Taxation Policy

This paper analyses whether the developing countries are pursuing an optimal foreign trade policy, given the theoretical and empirical evidence we have. The paper concludes that constraints in imposing other taxes than tariffs in many developing countries may justify having tariffs as part of an optimal taxation policy.

MCA airs views on future U.S. foreign trade policy

1968 ◽  
Vol 46 (25) ◽  
pp. 27-28
Keyword(s):  
Foreign Trade ◽  
Trade Policy ◽  
Foreign Trade Policy

Exploring the nonlinear effect of size on profitability: evidence from an insurance brokerage industry in an emerging market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Richard Angelous Kotey ◽  
Richard Akomatey ◽  
Baah Aye Kusi
Keyword(s):  
Nonlinear Effect ◽  
Emerging Market ◽  
Empirical Studies ◽  
Random Effect ◽  
Generalized Method Of Moments ◽  
Ordinary Least Squares ◽  
Growth Strategies ◽  
Content Type ◽  
And Performance ◽  
Brokerage Firms

PurposeThis study examines the possible nonlinear effect of size on stakeholder and shareholder profitability in the Ghanaian insurance brokerage industry.Design/methodology/approachThis study employs a panel dataset of 64 Ghanaian insurance brokerage firms spanning 2011–2015. Static [ordinary least squares (OLS), fixed effect and random effect and dynamic (two-step generalized method of moments (GMM))] estimation techniques are employed to analyze the data.FindingsThe study finds the existence of both economies and diseconomies of scale and scope theories in the Ghanaian insurance brokerage industry confirming the existence of nonlinear nexus between size and performance. This finding is consistent for both stakeholder and shareholder profit performance. Thus, the results show that size improves profitability of insurance brokerage firms, but beyond a certain threshold, the relationship turns negative as size negatively affects profitability.Practical implicationsThe research findings have implications for both policy and research; the study recommends that Ghanaian brokerage managers should understand that not all growth is good and exercise a duty of care when applying growth strategies by monitoring size effect on performance so as not to go beyond the inflection point. Further research can be done to examine this effect in other contexts, timeframes and jurisdictions.Originality/valueThis research is unique in that it employs a panel dataset consisting of 96% of insurance brokerage firms in Ghana whilst employing both static and nonstatic regression models to examine the effect of size. The research analysis adopted is robust, and the findings are significant. Also, the lack of empirical studies on the operations and dealings of auxiliary institutions such as the insurance brokerage firms adds value to this research.

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