Trade Intensity, Fiscal Integration and Income Inequality in ECOWAS

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Hamitande Dout ◽  
Léleng Kebalo
Keyword(s):  
Income Inequality ◽  
Economic Integration ◽  
Two Dimensions ◽  
Trade Intensity ◽  
Trade Integration ◽  
Method Of Moment ◽  
Regional Trade ◽  
Integration Effect ◽  
The One ◽  
Generalized Method Of Moment

Abstract This paper analyzes the income inequality effect of economic integration in ECOWAS by decomposing economic integration into two dimensions: trade and fiscal integration approximated respectively by trade intensity and fiscal convergence. For robustness purposes, we use different metrics for each dimension. We also consider the introduction in the region of growth and convergence pact in the analysis of fiscal integration effect on income inequality. The analysis covers the period 1990–2018. For the empirical evidence, the generalized method of moment is used. The results obtained are robust and reveal that improving regional economic integration has a reducing effect on income inequality. Taken individually, trade integration and fiscal integration contribute to reducing income inequality. However, taken together, the reducing effect of economic integration on income inequality is more pronounced. Besides, the results indicate that fiscal integration has more contributed to the reduction of income inequality since the introduction of the first fiscal convergence pact in the region in 2000 than before. For reducing income inequality, our analysis recommends to ECOWAS countries to take steps to remove barriers to regional trade on the one hand, and on the other hand, to converge together on the fiscal front.

Credit Market Depth and Income Inequality in Vietnam: A Panel-Data Analysis

2016 ◽  
pp. 5-18
Author(s):  
Hoi Le Quoc ◽  
Hoi Chu Minh
Keyword(s):  
Data Analysis ◽  
Panel Data ◽  
Income Inequality ◽  
Financial Development ◽  
Inflection Point ◽  
Panel Data Analysis ◽  
Credit Market ◽  
Method Of Moment ◽  
Market Depth ◽  
Generalized Method Of Moment

Financial development could exert various effects on income distribution of a country. By employing Generalized Method of Moment, this paper aims at examining the impacts of credit market depth, one of most used financial development barometers, on income inequality in Vietnam. The empirical findings show that expanding credit market in the country could lead to higher income inequality. We have not found evidence that supports the hypothesis of an inverted U-shaped relation ever introduced by Greenwood and Jovanovich, although this hypothesis may still hold in a sense that Vietnam has not reached to the inflection point to generate such a curve alike.

scholarly journals Pola Perdagangan Global pada Perusahaan-Perusahaan Berteknologi Tinggi

2021 ◽  
Vol 21 (1) ◽  
pp. 77-94
Author(s):  
Dyah Wulan Sari ◽  
Wenny Restikasari
Keyword(s):  
Generalized Method Of Moments ◽  
High Tech ◽  
Global Trade ◽  
Trade Integration ◽  
Method Of Moment ◽  
Export Intensity ◽  
Firm Level ◽  
Level Data ◽  
Vertical Trade ◽  
Generalized Method Of Moment

This study deals with firm level data of Indonesian high-tech manufacturing industries to determine firm’s production, especially among global trade variables, such as export intensity, vertical trade integration, and two-way trade. This study employs a generalized method of moments (GMM) approach to examine the most important factors of a global trade phenomenon. In the full-sample, the result demonstrates that vertical trade integration and two-way trade are significant determinants on firm’s production while export intensity is not. In ordinary trader sub-sample, export intensity is a significant determinant of firm’s production, whereas in vertical trader sub-sample export intensity is not. ........................................... Penelitian ini menggunakan data tingkat perusahaan pada industri manufaktur berteknologi tinggi di Indonesia untuk menentukan kemampuan produksi suatu perusahaan, dari berbagai variabel perdagangan global, seperti intensitas ekspor, perdagangan vertikal yang terintegrasi, dan perdagangan dua arah terhadap. Penelitian ini menggunakan pendekatan generalized method of moment (GMM) untuk menguji faktor terpenting dari fenomena perdagangan global. Pada sampel penuh, hasil penelitian menunjukkan bahwa perdagangan vertikal yang terintegrasi dan perdagangan dua arah merupakan faktor penentu yang signifikan terhadap kemampuan produksi perusahaan sedangkan intensitas ekspor tidak. Pada sub-sampel pedagang biasa, intensitas ekspor merupakan faktor penentu yang signifikan terhadap kemampuan produksi perusahaan, sedangkan pada sub-sampel pedagang vertikal intensitas ekspor bukan merupaka faktor penentu. 

The Evolution of Loss Aversion Coefficient in Energy Futures Market Considering Investor Heterogeneity

2013 ◽  
Vol 291-294 ◽  
pp. 1263-1270
Author(s):  
Shu Ping Wang ◽  
Tao Wen ◽  
Zhen Xin Wu
Keyword(s):  
Loss Aversion ◽  
Initial Point ◽  
Futures Market ◽  
Method Of Moment ◽  
Energy Futures ◽  
Investor Heterogeneity ◽  
One Year ◽  
The One ◽  
Generalized Method Of Moment

The energy futures market has become the center of global energy market, so, problems in the energy futures market have profound impact on many aspects of the macroeconomic. In this paper, with the premise of the existence of investor heterogeneity, we use stochastic Euler equation and prospect theory to establish a mathematical model of price fluctuations which varies with the time change, and the model is testable for generalized method of moment (GMM) model. According to the GMM estimation results, in the one-year period, when we set a certain time point to be the initial point, with the passage of time, loss aversion coefficient will gradually increase, while it will reduce with the increase of the discount factor. We also verify that the loss aversion coefficient of investors who response to market information rapidly is relatively small. But in the long term, the evolution of loss aversion coefficient needs further research.

Rising Economic Powers among Economies in Transition

2020 ◽  
pp. 2009-2034
Author(s):  
Vasily Erokhin
Keyword(s):  
Latin America ◽  
International Trade ◽  
Economic Integration ◽  
Trade Integration ◽  
Rising Powers ◽  
Global Order ◽  
Regional Trade ◽  
Economies In Transition ◽  
Brics Countries

The chapter covers contemporary global developments, particularly international trade and economic integration, with involvement of the economies in transition, BRICS countries, and new rising powers of Latin America and Asia. The issues, addressed in the chapter, are related to the concept of globalization in general; specific challenges of globalization for the economies in transition, and application of those general challenges in selected countries (China, Russia, Brazil, etc.). Chapter is concluded with investigations of regional trade integration as a response to threats of globalization and expectations of a new global order with growing involvement of economies in transition (particularly, BRICS, the CIS, the EAEU, and other countries of Latin America and Asia).

Rising Economic Powers among Economies in Transition

2016 ◽  
pp. 1-25 ◽  
Author(s):  
Vasily Erokhin
Keyword(s):  
Latin America ◽  
International Trade ◽  
Economic Integration ◽  
Trade Integration ◽  
Rising Powers ◽  
Global Order ◽  
Regional Trade ◽  
Economies In Transition ◽  
Brics Countries

The chapter covers contemporary global developments, particularly international trade and economic integration, with involvement of the economies in transition, BRICS countries, and new rising powers of Latin America and Asia. The issues, addressed in the chapter, are related to the concept of globalization in general; specific challenges of globalization for the economies in transition, and application of those general challenges in selected countries (China, Russia, Brazil, etc.). Chapter is concluded with investigations of regional trade integration as a response to threats of globalization and expectations of a new global order with growing involvement of economies in transition (particularly, BRICS, the CIS, the EAEU, and other countries of Latin America and Asia).

scholarly journals Foreign Aid, Institutional Quality and Income Inequality in Developing Countries

2019 ◽  
Vol 3 (4) ◽  
pp. 47-59
Author(s):  
Ruhaida Saidon ◽  
Zalina Zainal
Keyword(s):  
Developing Countries ◽  
Income Inequality ◽  
Foreign Aid ◽  
Institutional Quality ◽  
Method Of Moment ◽  
Economic Sectors ◽  
Interaction Variables ◽  
Generalized Method Of Moment ◽  
Social Sectors

This study examines the role of institutional quality as a complementary factor on the effectiveness of sectoral allocations of foreign aid (i.e. aid to social sectors, aid to economic sectors, aid to production sectors and aid to multi sectors) on income inequality in selected foreign aid recipient countries. This study utilizes System-Generalized Method of Moment on a panel data of 50 of foreign aid recipient countries during the period 1995 to 2017. The empirical findings revealed that the interaction variables between sectoral allocations of foreign aid with institutional quality have a negative and statistically significant effect on income inequality during the period of study. This finding indicates that institutional quality is one the conditional factor for the effectiveness of sectoral foreign aid allocations in narrowing income inequality in developing countries.

scholarly journals Assessing a Linear Nanosystem's Limiting Reliability from its Components

2008 ◽  
Vol 45 (03) ◽  
pp. 879-887 ◽  
Author(s):  
Nader Ebrahimi
Keyword(s):  
Present State ◽  
Size Range ◽  
Two Dimensions ◽  
The Other ◽  
One Dimension ◽  
Present Moment ◽  
One Dimensional ◽  
The One ◽  
Fixed Moment ◽  
Nanosized Systems

Nanosystems are devices that are in the size range of a billionth of a meter (1 x 10-9) and therefore are built necessarily from individual atoms. The one-dimensional nanosystems or linear nanosystems cover all the nanosized systems which possess one dimension that exceeds the other two dimensions, i.e. extension over one dimension is predominant over the other two dimensions. Here only two of the dimensions have to be on the nanoscale (less than 100 nanometers). In this paper we consider the structural relationship between a linear nanosystem and its atoms acting as components of the nanosystem. Using such information, we then assess the nanosystem's limiting reliability which is, of course, probabilistic in nature. We consider the linear nanosystem at a fixed moment of time, say the present moment, and we assume that the present state of the linear nanosystem depends only on the present states of its atoms.

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