scholarly journals The direct and spillover effects of liner shipping connectivity on merchandise trade

2020 ◽  
Vol 5 (2) ◽  
pp. 159-173
Author(s):  
Pei-Chun Lin ◽  
Szu-Yu Kuo ◽  
Jui-Hung Chang
Keyword(s):  
Western Europe ◽  
Spillover Effects ◽  
Liner Shipping ◽  
Transport Infrastructure ◽  
Content Type ◽  
Common Framework ◽  
International Trading ◽  
National Perspective ◽  
Merchandise Trade ◽  
Liner Shipping Connectivity

Purpose This paper aims to address the following questions: is good liner shipping connectivity a requisite for merchandise imports plus exports? What is the average of merchandise imports plus exports of the countries neighboring China? Do the merchandise imports plus exports of these countries correspond to each country’s own merchandise imports plus exports or liner shipping connectivity index (LSCI)? Design/methodology/approach The authors spatially analyze liner shipping connectivity and merchandise imports plus exports using 2016 data and a common framework for linear regression to establish the relationship amongst a country’s LSCI and its merchandise imports plus exports and between its merchandise imports plus exports and those of its neighbors. Merchandise imports plus exports of countries are not necessarily independent of each other, and countries that are contiguous may produce similar observations. Findings North America and Western Europe comprised clusters of countries that participated more actively in the international trading system, while Africa’s countries had less international trade than average. The study identifies and quantifies the geographical ripple of transport infrastructure on merchandise trade from a national perspective. Notably, a spatially lagged term improved the model’s ability to account for variations in merchandise imports plus exports across countries. Originality/value The spatial lag of merchandise imports plus exports can contribute to specifying the spread of merchandise imports plus exports beyond what the authors would anticipate from a country’s network of liner shipping.

scholarly journals Explaining the informal economy in Western Europe: beyond a rational economic actor perspective

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Colin Williams ◽  
Gamze Oz-Yalaman
Keyword(s):  
Informal Economy ◽  
Western Europe ◽  
Alternative Theory ◽  
Probit Regression ◽  
Content Type ◽  
Social Actors ◽  
The United Kingdom ◽  
Economic Actor ◽  
Expected Benefits ◽  
Practical Implications

PurposeThe dominant theorisation of the informal economy views participants as rational economic actors operating in the informal economy when the expected benefits exceed the perceived costs of being caught and punished. Recently, an alternative theory has emerged which views participants as social actors operating in the informal economy due to their lack of vertical trust (in governments) and horizontal trust (in others). The aim of this paper is to evaluate these competing theorisations.Design/methodology/approachTo do so, data are reported from special Eurobarometer surveys conducted in 2007, 2013 and 2019 in eight West European countries (Austria, Belgium, France, Germany, Ireland, Luxembourg, the Netherlands and the United Kingdom).FindingsUsing probit regression analysis, the finding is that increasing the expected likelihood of being caught and level of punishment had a weak significant impact on the likelihood of participating in the informal economy in 2007, and there was no significant impact in 2013 and 2019. However, greater vertical and horizontal trust is significantly associated with a lower level of participation in the informal economy in all three time periods.Practical implicationsThe outcome is a call for a policy to shift away from increasing the expected level of punishment and likelihood of being caught, and towards improving vertical and horizontal trust. How this can be achieved is explored.Originality/valueEvidence is provided in a Western European context to support a shift away from a rational economic actor to a social actor approach when explaining and tackling the informal economy.

Infrastructure and Trade: An Empirical Study Based on China and Selected Asian Economies

SAGE Open ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. 215824402110360
Author(s):  
Imran Ur Rahman ◽  
Mohsin Shafi ◽  
Liu Junrong ◽  
Enitilina Tatiani M.K. Fetuu ◽  
Shah Fahad ◽  
...  
Keyword(s):  
Positive Impact ◽  
Ordinary Least Squares ◽  
Trade Flows ◽  
Transport Infrastructure ◽  
Sea Transport ◽  
Asian Economies ◽  
Negative Effect ◽  
Ict Infrastructure ◽  
High Standards ◽  
Merchandise Trade

We empirically determine the role of different forms of infrastructure on a country’s trade. We use an augmented gravity model that incorporates infrastructure in the estimation of merchandise trade flows. We take panel data, including China and 21 selected Asian economies, from 1999 to 2018. We find that the panel ordinary least squares (OLS) and poisson pseudo maximum likelihood (PPML) model estimations prove to be significant. Proxies for Transport Infrastructure including roads, railways, and sea transport, and Proxies for information and communication technology (ICT) infrastructure consisting of mobile, electricity, and internet connections show a strong and positive impact on trade while air transport and landline phone connection have an unexpected negative effect on trade. The positive estimates for quality of infrastructure signify that high standards of Transport and ICT infrastructures lead to increased trade flows of the exporting and importing countries. Results also show that cultural similarity leads to increased trade flows between China and its trading partners in Asia.

scholarly journals Location of regional and international hub ports in liner shipping

2017 ◽  
Vol 2 (2) ◽  
pp. 114-125 ◽  
Author(s):  
Jianfeng Zheng ◽  
Cong Fu ◽  
Haibo Kuang
Keyword(s):  
Design Methodology ◽  
Location Problem ◽  
Programming Model ◽  
Liner Shipping ◽  
Mixed Integer ◽  
Eastern Asia ◽  
Hub Location ◽  
Hub Location Problem ◽  
Content Type ◽  
Western Asia

Purpose This paper aims to investigate the location of regional and international hub ports in liner shipping by proposing a hierarchical hub location problem. Design/methodology/approach This paper develops a mixed-integer linear programming model for the authors’ proposed problem. Numerical experiments based on a realistic Asia-Europe-Oceania liner shipping network are carried out to account for the effectiveness of this model. Findings The results show that one international hub port (i.e. Rotterdam) and one regional hub port (i.e. Zeebrugge) are opened in Europe. Two international hub ports (i.e. Sokhna and Salalah) are located in Western Asia, where no regional hub port is established. One international hub port (i.e. Colombo) and one regional hub port (i.e. Cochin) are opened in Southern Asia. One international hub port (i.e. Singapore) and one regional hub port (i.e. Jakarta) are opened in Southeastern Asia and Australia. Three international hub ports (i.e. Hong Kong, Shanghai and Yokohama) and two regional hub ports (i.e. Qingdao and Kwangyang) are opened in Eastern Asia. Originality/value This paper proposes a hierarchical hub location problem, in which the authors distinguish between regional and international hub ports in liner shipping. Moreover, scale economies in ship size are considered. Furthermore, the proposed problem introduces the main ports.

Linkages between cross-country business cycles, cross-country stock market cycles and cross-country real estate market cycles

2016 ◽  
Vol 9 (2) ◽  
pp. 123-146 ◽  
Author(s):  
Kim Hiang Liow
Keyword(s):  
Real Estate ◽  
Stock Market ◽  
Business Cycles ◽  
Spillover Effects ◽  
Real Estate Market ◽  
Stock Market Index ◽  
Content Type ◽  
Market Index ◽  
Cross Country ◽  
The Cross

Purpose This research aims to investigate whether and to what extent the co-movements of cross-country business cycles, cross-country stock market cycles and cross-country real estate market cycles are linked across G7 from February 1990 to June 2014. Design/methodology/approach The empirical approaches include correlation analysis on Hodrick–Prescott (HP) cycles, HP cycle return spillovers effects using Diebold and Yilmaz’s (2012) spillover index methodology, as well as Croux et al.’s (2001) dynamic correlation and cohesion methodology. Findings There are fairly strong cycle-return spillover effects between the cross-country business cycles, cross-country stock market cycles and cross-country real estate market cycles. The interactions among the cross-country business cycles, cross-country stock market cycles and cross-country real estate market cycles in G7 are less positively pronounced or exhibit counter-cyclical behavior at the traditional business cycle (medium-term) frequency band when “pure” stock market cycles are considered. Research limitations/implications The research is subject to the usual limitations concerning empirical research. Practical implications This study finds that real estate is an important factor in influencing the degree and behavior of the relationship between cross-country business cycles and cross-country stock market cycles in G7. It provides important empirical insights for portfolio investors to understand and forecast the differential benefits and pitfalls of portfolio diversification in the long-, medium- and short-cycle horizons, as well as for research studying the linkages between the real economy and financial sectors. Originality/value In adding to the existing body of knowledge concerning economic globalization and financial market interdependence, this study evaluates the linkages between business cycles, stock market cycles and public real estate market cycles cross G7 and adds to the academic real estate literature. Because public real estate market is a subset of stock market, our approach is to use an original stock market index, as well as a “pure” stock market index (with the influence of real estate market removed) to offer additional empirical insights from two key complementary perspectives.

An agent-based supplier selection framework

2015 ◽  
Vol 8 (2/3) ◽  
pp. 180-205 ◽  
Author(s):  
Alireza Jahani ◽  
Masrah Azrifah Azmi Murad ◽  
Md. Nasir bin Sulaiman ◽  
Mohd. Hasan Selamat
Keyword(s):  
Supply Chain ◽  
Supplier Selection ◽  
Information Overload ◽  
Case Based Reasoning ◽  
Multi Agent Systems ◽  
Content Type ◽  
Agent Based ◽  
Common Framework ◽  
Multi Agent ◽  
Case Based

Purpose – The purpose of this paper is to propose an approach that integrates three complementary perspectives, multi-agent systems, fuzzy logic and case-based reasoning. Unsatisfied customers, information overload and high uncertainty are the main challenges that are faced by today’s supply chains. In addition, a few existing agent-based approaches are tied to real-world supply chain functions like supplier selection. These approaches are static and do not adequately take the qualitative and quantitative factors into consideration. Therefore, an agent-based framework is needed to address these issues. Design/methodology/approach – The proposed approach integrates three complementary perspectives, multi-agent systems, fuzzy logic and case-based reasoning, as a common framework. These perspectives were rarely used together as a common framework in previous studies. Furthermore, an exploratory case study in an office furniture company is undertaken to illustrate the value of the framework. Findings – The proposed agent-based framework evaluates supply offers based on customers’ preferences, recommends alternative products in the case of stock-out and provides a collaborative environment among agents who represent different supply chain entities. The proposed fuzzy case-based reasoning (F-CBR) approach reduces the information overload by organizing them into the relevant cases that causes less overall search between cases. In addition, its fuzzy aspect addresses the high uncertainty of supply chains, especially when there are different customers’ orders with different preferences. Research limitations/implications – The present study does not include the functions of inventory management and negotiation between agents. Furthermore, only the case description and case retrieval phases of the case-based reasoning approach are investigated, and the remaining phases like case retaining, case reusing and case revising are not included in the scope of this paper. Originality/value – This framework balances the interests of different supply chain structural elements where each of them is represented by a specific agent for better collaboration, decision-making and problem-solving in a multi-agent environment. In addition, the supplier selection and order gathering mechanisms are developed based on customers’ orders.

The wheel of fortune as a novel support for constructive alignment and transformative sustainability learning in higher education

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sue Noy ◽  
Teresa Capetola ◽  
Rebecca Patrick
Keyword(s):  
Higher Education ◽  
Transformative Learning ◽  
Learning Outcomes ◽  
Undergraduate Students ◽  
Education For Sustainability ◽  
Student Experiences ◽  
Content Type ◽  
Constructive Alignment ◽  
Common Framework ◽  
Changing Times

Purpose Education for Sustainability in Higher Education (ESHE) sits within and across disciplinary settings that share the need for a framework that provides a basis for pedagogy, assessment and learning outcomes (Kalsoom, 2019). ESHE strives to create transformative learning spaces that help students gain the knowledge and skills they need to understand and contribute to shaping a world based on communities living within the limits of earth’s resources. This paper aims to offer a novel solution to the challenge of teaching students from different disciplines struggling with the complexity of sustainability. Design/methodology/approach The paper explores the development of an interdisciplinary subject designed for undergraduate students from four faculties. It presents a case study of pedagogy that moves away from three pillars/concentric circles approaches towards practices based in systems thinking and interactive transformative learning. It describes the iterative process of developing and implementing an infographic: the “Sustainability Wheel of Fortune” (Wheel), to support constructive alignment of content, assessment tasks and learning outcomes. Findings The Wheel provides a holistic, interconnected and dynamic focus for framing content and teaching. The pedagogy aligns with sustainability competencies, builds in flexibility in response to changing times and student experiences and provides teachers and students with a common framework for interrogating the possibilities for sustainable futures. Originality/value The Wheel is a novel learning tool for contemporary sustainability education. It captures key elements of approaches to and concepts about sustainability, visually reinforces the idea of a holistic interconnected approach and provides a framework that supports the constructive pedagogy of an interdisciplinary sustainability subject.

US GDP will outperform Western Europe in early 2021

2021 ◽  
Keyword(s):  
Western Europe ◽  
Content Type

Headline INTERNATIONAL: US GDP will outperform EU in early 2021

European sources for advertising and marketing history

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jeannette Strickland
Keyword(s):  
Latin America ◽  
Design Methodology ◽  
Western Europe ◽  
Original Study ◽  
Eastern Bloc ◽  
Online Searching ◽  
Content Type ◽  
Marketing History ◽  
The World ◽  
First Time

Purpose This paper aims to build on Fred Beard’s study of the world’s archives to identity historical advertising and marketing ephemera, published in this journal in 2018, by focussing on resources available in Europe to augment his survey. Design/methodology/approach Online searching, supplemented by literature emanating from the business archive sector, led to the identification of 177 repositories or online sites in Europe holding advertising and marketing archives of significance for researchers. These are set out in two accompanying tables. Findings A wide diversity of European archives that are open to researchers is revealed in this paper. Many are the archives of the business themselves, but a number of collecting repositories are also listed, brought together for the first time. Research limitations/implications This paper focusses solely on Europe but does not claim to be comprehensive, as the study was time-limited and readers will, no doubt, know of resources that the author has missed. The findings relate mostly to Western Europe, so there is scope for further study to encompass archives in the former eastern bloc. Exploration of sources in Africa, Asia and Latin America would further supplement Beard’s original study. Originality/value This research brings together the broadest list of advertising and marketing sources open to researchers in Europe published to date. As Beard’s focus was more on the Americas, this examination redresses the balance with an array of European sources which, it is hoped, will contribute to the greater use of many little-known or under-researched resources by researchers across the world.

scholarly journals Political Institutions, Economic Liberty, and the Great Divergence

2017 ◽  
Vol 77 (3) ◽  
pp. 724-755 ◽  
Author(s):  
Gary W. Cox
Keyword(s):  
Urban Growth ◽  
Political Institutions ◽  
Western Europe ◽  
Spillover Effects ◽  
National Parliaments ◽  
Political Fragmentation ◽  
City Growth ◽  
Economic Liberty ◽  
Great Divergence ◽  
Growth Correlations

I argue that Europe's political fragmentation interacted with her political innovations—self-governing cities and national parliaments—to facilitate “economic liberty,” which in turn unleashed faster and more inter-connected urban growth. Examining urban growth over the period 600–1800 ce throughout Eurasia, I show that inter-city growth correlations were positive and significant only in Western Europe after 1200 ce. Within Western Europe, I show that growth correlations were greatest in the most fragmented and parliamentary areas, individual cities became significantly more tied to urban growth when their realms became parliamentary, and spillover effects (due to competition between rulers) were significant.

Evidence of leverage effects and volatility spillover among exchange rates of selected emerging and growth leading economies

2019 ◽  
Vol 11 (2) ◽  
pp. 174-192 ◽  
Author(s):  
Ajaya Kumar Panda ◽  
Swagatika Nanda ◽  
Vipul Kumar Singh ◽  
Satish Kumar
Keyword(s):  
Exchange Rates ◽  
Asset Management ◽  
Spillover Effects ◽  
International Investment ◽  
Multivariate Garch ◽  
Conditional Volatility ◽  
Substantial Impact ◽  
Content Type ◽  
Volatility Spillovers ◽  
Strongly Connected

Purpose The purpose of this study is to examine the evidences of leverage effects on the conditional volatility of exchange rates because of asymmetric innovations and its spillover effects among the exchange rates of selected emerging and growth-leading economies. Design/methodology/approach The empirical analysis uses the sign bias test and asymmetric generalized autoregressive conditional heteroskedasticity (GARCH) models to capture the leverage effects on conditional volatility of exchange rates and also uses multivariate GARCH (MGARCH) model to address volatility spillovers among the studied exchange rates. Findings The study finds substantial impact of asymmetric innovations (news) on the conditional volatility of exchange rates, where Russian Ruble is showing significant leverage effect followed by Indian Rupee. The exchange rates depict significant mean spillover effects, where Rupee, Peso and Ruble are strongly connected; Real, Rupiah and Lira are moderately connected; and Yuan is the least connected exchange rate within the sample. The study also finds the assimilation of information in foreign exchanges and increased spillover effects in the post 2008 periods. Practical implications The results probably have the implications for international investment and asset management. Portfolio managers could use this research to optimize their international portfolio. Policymakers such as central banks may find the study useful to monitor and design interventions strategies in foreign exchange markets keeping an eye on the nature of movements among these exchange rates. Originality/value This is one of the few empirical research studies that aim to explore the leverage effects on exchange rates and their volatility spillovers among seven emerging and growth-leading economies using advanced econometric methodologies.

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