scholarly journals The effects of international price volatility on farmer prices and marketing margins in cattle markets

2018 ◽  
Vol 21 (3) ◽  
pp. 335-350
Author(s):  
L. Emilio Morales
Keyword(s):  
Developing Countries ◽  
Fixed Effects ◽  
Service Providers ◽  
Export Price ◽  
Price Volatility ◽  
Developed Countries ◽  
Price Transmission ◽  
Export Prices ◽  
Cattle Markets ◽  
Marketing Margins

This study examines the effects of export price volatility in cattle markets using panel data from twelve countries between 1970 and 2013. Fixed-effects models with Driscoll and Kraay standard errors were estimated to control for cross-sectional dependence. Results indicate that price transmission depends on prices previously paid to farmers, variations in export prices and volatility of export prices, which reduces farmer prices in developed countries and it increases them in developing countries. In contrast, marketing margins are reduced by contemporaneous export price volatility and are increased by previous volatility. Exporters in developing countries take more time to transmit shocks in international prices, pay lower prices to farmers and absorb a bigger proportion of price fluctuations. These price transmission imperfections affect investments, technology adoption, production level and quality across the chain in developing countries, which negatively impact farmers, input and service providers, traders and other actors of the beef cattle chain.

Trade openness and structural vulnerability in developing countries

2016 ◽  
Vol 43 (1) ◽  
pp. 70-89 ◽  
Author(s):  
Sena Kimm Gnangnon
Keyword(s):  
Developing Countries ◽  
Trade Policy ◽  
Fixed Effects ◽  
Trade Openness ◽  
Developed Countries ◽  
Structural Vulnerability ◽  
Least Developed Countries ◽  
Structural Determinants ◽  
Entire Sample ◽  
Content Type

Purpose – The purpose of this paper is to investigate how trade openness affects the structural vulnerability of developing countries. The analysis is conducted on both the entire sample of 105 countries as well as two sub-samples, namely least developed countries (LDCs) and non-LDCs. Design/methodology/approach – To perform the analysis, the author employs fixed-effects (within) regressions supplemented by instrumental variables technique based on the two-step generalized methods of moments approach. Findings – The author finds empirical evidence that although trade policy liberalization reduces the structural vulnerability on the entire sample developing countries, no statistically significant effect of such liberalization is obtained either on LDCs or non-LDCs. However, trade policy liberalization appears to reduce countries’ exposure to shocks, result that applies to the entire sample as well as the two sub-samples. The author also observes that trade policy liberalization exerts no (statistically) significant effect on the size of shocks that affect developing countries, result that applies to both the full sample and the sub-samples of LDCs and non-LDCs. Research limitations/implications – In the absence of a well-established theoretical framework on how trade openness affects the structural vulnerability of developing, the author adopts a pragmatic approach by drawing upon many insights of Loayza and Raddatz (2007) who study the structural determinants of external vulnerability. Practical implications – Developing countries in general and LDCs in particular could address their structural weaknesses by making optimal use of their trade policies. In particular, they could better use the flexibilities available to them in provisions of the World Trade Organization (WTO)’ Agreements. In this respect, the international community, notably donors of the developed world has a key role to play. Originality/value – This is the first study exploring how trade openness, capturing here through trade policy liberalization affects the structural vulnerability of developing countries.

scholarly journals The Social and Economic Correlates of Tobacco Consumption in Developing Countries Compared to Developed Countries: Evidence from Burkina Faso and Canada

2020 ◽  
Vol 12 (11) ◽  
pp. 33
Author(s):  
Ernest Ouedraogo ◽  
Yienouyaba Gaetan Ouoba ◽  
Emmanuel Lompo
Keyword(s):  
Developing Countries ◽  
Burkina Faso ◽  
Health Survey ◽  
Fixed Effects ◽  
Negative Impact ◽  
Developed Countries ◽  
Tobacco Consumption ◽  
Shape Effect ◽  
Economic Factors ◽  
The Social

This paper examines the socio-demographic and economic factors affecting tobacco consumption in a developing country like Burkina Faso compared to a developed country like Canada. Using nationally representative data from the 2016 round of Burkina Faso’s Demographic and Health Survey (DHS) and the Canadian Community Health Survey (CCHS) 2015-2016, we estimated multivariate fixed effects models to identify the social and economic factors associated with tobacco consumption in these countries. We find evidence that age has an inverted U-shaped positive effect on cigarettes consumption in both countries with a peak at 24-35 years old in Burkina Faso and a peak at 40-54 years old in Canada. Second, being single increases the consumption of cigarettes while education and employment reduce cigarettes consumption in both countries. The gender gap in tobacco consumption between men and women is larger in Burkina Faso (5.021 cigarettes) compared to Canada (1.45 cigarettes). Third, while income have a negative impact on cigarettes consumption in Canada, it displays a U-shape effect in Burkina Faso. Hence, the social and economic context should be considered by the international organization while addressing the issue of smoking in developed and developing countries.

scholarly journals Unilateral Trade Preferences in the EU: An Empirical Assessment for the Case of Mozambican Exports

2012 ◽  
Vol 2012 ◽  
pp. 1-11
Author(s):  
Xavier Cirera ◽  
Andrea Alfieri
Keyword(s):  
Developing Countries ◽  
Developing Country ◽  
Developed Countries ◽  
Product Lines ◽  
Export Prices ◽  
Export Margins ◽  
Potential Impact ◽  
Trade Preferences ◽  
The Impact ◽  
The Eu

Unilateral trade preferences are one of the most important instruments offered by developed countries to foster developing country exports. This paper analyzes the impact of unilateral trade preferences on developing countries by focusing on the experience of Mozambique. In this paper, we analyze whether unilateral preferences offered by the EU are “valuable” for Mozambican exporters based on the impact on preferential margins, utilization rates, and export prices. We use a detailed dataset with cif unit values at HS8-digits level covering the period 2000–2007. Our findings indicate that (i) for a large number of product lines, export margins are zero; (ii) utilization rates are generally high; however, (iii) this does not translate into a positive price margins captured by Mozambican exporters compared to MFN competitors. These findings cast doubts on the “value” of preferences and their potential impact on developing country exports.

Reconstruction of global ex-vessel prices of fished species

2016 ◽  
Vol 74 (1) ◽  
pp. 121-133 ◽  
Author(s):  
Michael C. Melnychuk ◽  
Tyler Clavelle ◽  
Brandon Owashi ◽  
Kent Strauss
Keyword(s):  
Time Series ◽  
Export Price ◽  
Correlation Coefficients ◽  
Price Transmission ◽  
Individual Species ◽  
Export Prices ◽  
Species Lists ◽  
Data Tables ◽  
Multiple Species ◽  
Taxonomic Groups

Economic dimensions of global fishery analyses are often limited by unavailable or inconsistent ex-vessel price data from the world’s fishing nations. We describe a novel method for estimating ex-vessel price time series for individual species by converting export prices of fishery commodities into ex-vessel prices and pairing these with species. The method relies exclusively on global, publicly-available data from the Food and Agricultural Organization of the United Nations (FAO). National datasets of ex-vessel prices are not used as inputs for the method, but comparisons of reconstructed ex-vessel prices with actual prices from national datasets showed strong correspondence. Correlation coefficients for paired reconstructed prices and actual prices of the same species were typically between 0.60 and 0.75 annually in the past two decades. There was a tendency for reconstructed prices to be less variable than actual prices, over-estimating actual prices at low values of actual prices and under-estimating actual prices at high values, likely the result of incomplete price transmission or assigning a given price time series to multiple species. However, there was no evidence of overall bias between reconstructed prices and actual prices, and correlations were strongest for comparisons involving multiple taxonomic groups. The method described carries advantages of global comprehensiveness and consistency across countries in reconstructed ex-vessel prices, reflecting the comprehensiveness and consistency of export price information. The method described links to species from the global FAO landings database, but can be modified to pair with other species lists or to focus on specific regions or countries. Data tables and source code are publicly available and ex-vessel price estimates can be updated annually following annual releases of the FAO fishery commodities database.

scholarly journals Role of Central Bank Independence in Banking and Financial Stability Ensuring

2020 ◽  
Vol 4 (2) ◽  
pp. 115-121 ◽  
Author(s):  
Victoria Dudchenko
Keyword(s):  
Developing Countries ◽  
Central Bank ◽  
Financial Stability ◽  
Fixed Effects ◽  
Developed Countries ◽  
Central Bank Independence ◽  
Stage Of Development ◽  
Banking Stability ◽  
The Impact

This paper is devoted to defining the role of the central bank in ensuring banking and financial stability. The main purpose of the study is to assess the direction and strength of the impact of central bank independence in terms of its individual aspects on the parameters of banking and financial stability for different groups of countries. Systematization of literature sources and the results of existing empirical research has shown that the expected effects of increasing the independence of the central bank are to improve banking and financial stability. For the study, a sample of statistical data for 10 developed and 10 developing countries for the period 1991-2012 was formed. The methodological basis of the study were the tools of panel regression modeling with fixed effects with Stata software use. The article presents the results of empirical analysis, which showed that the independence of the central bank is an important factor in ensuring banking stability. At the same time, the impact on financial stability has not been conclusively confirmed. The study empirically confirms and theoretically proves that the stage of development of the country determines the strength of such influence. Thus, developed countries generally show closer links between central bank independence and banking and financial stability, which in most cases are directly dependent, while developing countries have less lasting effects. The results of the analysis of the links between certain aspects of central bank independence and the level of banking and financial stability are of great practical value. The results of the study create a scientific basis for substantiating the sequence of actions aimed at strengthening the independence of the central bank. Thus, in developing countries, the focus should be on defining and prioritizing central bank goals, while developed countries should take a deeper approach to this issue and ensure the independence of monetary policy and financial independence of the central bank. Keywords: central bank, independence, banking stability, financial stability, Z-score, non-performing loans, capitalization, developed countries, developing countries, panel data.

scholarly journals Brazil nuts a non-timber potential: Uncertainties and investments

2021 ◽  
Vol 10 (15) ◽  
pp. e22101521868
Author(s):  
Lyvia Julienne Sousa Rêgo ◽  
Naisy Silva Soares ◽  
Crismeire Isbaex ◽  
Simone Silva ◽  
José Cola Zanuncio ◽  
...  
Keyword(s):  
Standard Deviation ◽  
Export Price ◽  
Price Volatility ◽  
Forest Products ◽  
Brazil Nut ◽  
Export Prices ◽  
Brazil Nuts ◽  
Risk Return ◽  
Price Series ◽  
Historical Series

The Brazil nut is one of the main non-timber forest products in Brazil, but its price fluctuations generate uncertainties and risks for both extractivists and investors. Econometric models or other simpler methods can estimate price changes and indicate the investment attractiveness of the Brazil nut. The objective of the present study was to analyze the risk-return relationship and the export price for both volatility of the Brazil nut over a 15 years period. The historical series of Brazil nut export prices, shelled and unshelled nuts, was evaluated from 2002 to 2016. The geometric growth rate and the variation coefficient indicate the return and risk respectively, associated with its price series. The price volatility of shelled and unshelled Brazil nuts was estimated with the standard deviation of the price series and with generalized models of ARCH (GARCH, EGARCH and TARCH). The shelled or unshelled Brazil nut coefficient increased over 15 years, with a low risk-return ratio. The shelled Brazil nut volatility was lower in the 2002 to 2006, 2007 to 2011 and 2012 to 2016 periods than for the unshelled nut when estimated by the standard deviation method than for the unshelled nut. The shelled Brazil nut price was higher from 2002 to 2016, with low volatility and persistent shocks. The estimate of the shelled and unshelled Brazil nut price volatility was better with the TARCH and the EGARCH models, respectively.

The Impact of FDI Inflows and Outflows on Economic Growth: An Empirical Study of some Developed and Developing Countries

2019 ◽  
Vol 6 (1) ◽  
pp. 129-157
Author(s):  
Younis Ali Ahmed ◽  
Roshna Ramzi Ibrahim
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Panel Data ◽  
Fixed Effects ◽  
Positive Impact ◽  
Developed Countries ◽  
Fdi Inflows ◽  
Panel Data Estimation ◽  
The Impact ◽  
Data Estimation

FDI is an investment including a long-term relationship and reflecting a lasting interest and control of a resident entity in one economy. FDI is a combination of capital, technology, marketing and management. Based on the Neoclassical, Exogenous and modern theories FDI has a positive role in accelerating economic growth and development. Many countries are improving their economy in order to attract FDI.  The main objective of this study is to examine the impact of FDI inflows and outflows on economic growth of developed countries such as (USA, UK and France) and developing countries such as (Malaysia, Turkey and Iran) from (1980 to 2017). To accomplish that, ARDL approach and panel data estimation were used. The empirical findings reveal that the FDI inflows and outflows for developed countries (US and UK) have a positive impact on economic growth (GDP), while the FDI inflows of France have a negative impact. Nevertheless, FDI inflows and outflows for developing countries of (Malaysia, Turkey, and Iran) have a positive impact on economic growth. The result of panel data estimation shows that Fixed effects model is appropriate for estimating the parameters. In conclusion, Developing countries should diversify their FDI inflows and outflows to cover all the sectors and they should benefit from the developed countries’ experiences with higher impact of FDI on economic growth.

Multilateral trade liberalization and developing countries’ economic exposure to shocks

2019 ◽  
Vol 46 (2) ◽  
pp. 496-515 ◽  
Author(s):  
Sena Kimm Gnangnon
Keyword(s):  
Developing Countries ◽  
Trade Liberalization ◽  
Fixed Effects ◽  
Developed Countries ◽  
Least Developed Countries ◽  
Data Set ◽  
Content Type ◽  
Multilateral Trade ◽  
Multilateral Trade Liberalization ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of multilateral trade policy (MTP) liberalization on developing countries’ economic exposure to shocks. Design/methodology/approach The analysis is conducted on a panel data set comprising 120 countries over the period 1996–2013 and uses the within fixed effects estimator. Findings The empirical results suggest that over the entire sample as well as sub-samples of least developed countries (LDCs) and non-LDCs, multilateral trade liberalization have a negative and significant impact on economic exposure to shocks. Interestingly, LDCs appear to experience the highest magnitude of the reducing impact of multilateral trade liberalization on countries’ economic exposure to shocks. Research limitations/implications These findings suggest that a greater cooperation among countries in the world, including among WTO members to further liberalize trade would surely contribute to reducing developing countries’ economic exposure to shocks. Practical implications The current study shows that the current backlash against trade and the consequent strong appeal for domestic trade protectionist measures would likely to undermine the likelihood of further multilateral trade liberalization. One implication of this could be a rise in countries’ economic exposure to shocks. Originality/value To the best of the author’s knowledge, this is first the study on this matter.

The Elusive Last Mile to the Internet

2011 ◽  
pp. 90-108
Author(s):  
V. Sridhar ◽  
Piyush Jain
Keyword(s):  
Developing Countries ◽  
High Speed ◽  
Service Providers ◽  
Developed Countries ◽  
Lessons Learned ◽  
The Internet ◽  
Internet Service ◽  
Increasing Demand ◽  
Internet Performance ◽  
The Developed Countries

As organizations continue to Web-enable mission-critical network-centric information systems, reliable and high bandwidth connectivity to the Internet is essential. While glut of Internet bandwidth is being witnessed in the developed countries, Internet services are still in their infancy in developing countries. Getting high-speed access to the Internet, especially in the remote areas of developing countries, poses challenges due to poor telecommunications infrastructure. With limited bandwidth available from service providers, network managers have to find ways other than simple raw bandwidth increments to meet the increasing demand from the users, especially for improved Web performance. While metrics for measuring Internet performance are being refined by researchers, defining service level agreements with the Internet service providers based on these metrics is challenging, especially in an evolving market. This case highlights the experiences and lessons learned from such an exercise at the Indian Institute of Management located in Lucknow, India.

Services Trade Liberalisation and Domestic Regulations: The Developing Country Conundrum

2007 ◽  
Vol 7 (1) ◽  
pp. 1850101
Author(s):  
Suparna Karmakar
Keyword(s):  
Developing Countries ◽  
Developing Country ◽  
Service Providers ◽  
Market Access ◽  
Rapid Development ◽  
Developed Countries ◽  
Professional Services ◽  
Developed Country ◽  
Cross Border ◽  
Cheap Labour

Services have become the engine of growth in a large number of economies in the developing world. Additionally, the rapid development of ICT, and emergence of transnational corporations, has not only made cross-border provision of services easier, but has also increased the demand for and trade in services; developing countries today are increasingly emerging as cost efficient providers of key business and professional services, thereby becoming key players in the services supply chain. In the absence of explicit tariff barriers, as compared to goods, over the years, countries have more intensively regulated services on grounds of protecting consumer interest and ensuring quality and excellence of professional services provided. It is also true that as cheap labour is the resource with comparative advantage in most developing countries, and especially India, access to developed country markets by means of cross-border supply and movement of natural persons have the potential of conferring the maximum benefits from services liberalisation. However, challenges for market access in developed countries in these two modes of supply lie in the range of regulatory barriers, including burdensome visa formalities, stringent quotas and qualification requirements, and discriminatory taxes, levies and standards faced by the developing country service providers. Most professions are closely regulated and certified, and often self-regulated, usually though sectoral trade associations. This paper brings out the key elements of the prevalent regulatory measures and barriers to market access for developing country service providers, and assesses how (if at all) the proposed disciplines on domestic regulations would help in securing or easing market access problems of developing country professionals in the developed country markets. An analysis of select professional services in India indicate that for developing countries in general there exist many elements in the proposed disciplines that are not only desirable but would help them to get better market access into key developed country markets. Also it appears that given the prevailing weaknesses of the domestic legal and institutional framework in most developing countries, commensurate changes in the domestic legal and regulatory systems would need to be incorporated prior to the adoption of the DR Disciplines so as to enable countries to fulfill the requirements under such disciplines. Incorporation of suitable S&DT provisions is needed to ensure proper implementation of the said disciplines and satisfy the development agenda of the Doha Round.

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