scholarly journals Financial Market Integration Between Stock Market From North American Free Trade Agreement (NAFTA) Member

2021 ◽  
Vol 21 (02) ◽  
Author(s):  
Yasir Maulana ◽  
Wely Hadi Gunawan

Economic recession or crisis could show a higher possibility of financial crisis transmission in an integrated stock market. Integration between financial markets is a channel of spreading the devastating effects of the crisis. The objective of this study is to detect significant interactions among the stock markets of countries that are members of the North American Free Trade Agreement (NAFTA). NAFTA is a regional partnership with members from the United States, Canada and Mexico that are committed to reducing trade and investment barriers between member countries. The methodology of this research with VAR VECM model consists of three stages, the first analysis of the presence impact of the stock market index using the Granger Causality Test. Second, analyze the speed of response of an index to a change / shock in another index using the Impulse Response Function (IRF). The third stage analyzes the impact of changes / shocks from one index to other indices by using Variance Decomposition. From the 5 sets of stock market data for NAFTA countries, the results of the study show that there is only one cointegration. When viewed in the cointegration process of each of the two data series, cointegration occurs between the Nasdaq index with TSE and Nasdaq with MSE. Whereas TSE and MSE did not find any cointegration.

Author(s):  
John P. McCray

The dramatic growth in trade between the United States and Mexico from $12.39 billion to $56.8 billion of U.S. exports and $17.56 billion to $73 billion of U.S. imports between 1977 and 1996 and the implementation of the North American Free Trade Agreement (NAFTA) have focused attention on the impact that the truck-transported portion of this trade has on U.S. highways. State and federal highway administrators are concerned with the planning implications this additional unexpected traffic may have on the transportation infrastructure. Public advocacy groups want additional highway funds to promote one NAFTA highway corridor over others in an effort to stimulate additional economic development. Most of these groups advocate a north-south route through the United States between Canada and Mexico that follows the alignment of an existing federal highway number. Research conducted by the U.S. government under the 1991 Intermodal Surface Transportation Efficiency Act has failed to define NAFTA highway corridors adequately, leaving policy makers with little concrete information with which to combat the rhetoric of the trade highway corridor advocacy groups. A report is provided on research critical to the needs of both highway administrators and corridor advocacy groups, namely, the location of U.S.-Mexican trade highway corridors and the trade truck density along these corridors.


Author(s):  
Richard D. Mahoney

How did the U.S.-Colombia free trade agreement come about? The officially named “U.S.-Colombia Trade Promotion Agreement” was the stepchild of a rancorous hemispheric divorce between the United States and five Latin American governments over the proposal to extend the North American Free Trade Agreement...


Author(s):  
Bruce Campbell

Mexican comic books are a cultural product whose development is tied to the history of the modern Mexican state. The consolidation of the state in the aftermath of the armed conflict period of the Mexican Revolution (1910–1920) shaped the conditions for the emergence of a domestic industry and market for comics, and in particular for comic books, alongside other important cultural industries such as radio, film, and television, through state supports for and controls over the nation’s culture industries. In the late 20th century, the neoliberal character of the Mexican state—for which official policy has centered on privatization of state economic enterprises, the reduction of public subsidies for goods and services, and the elimination of import tariffs—subsequently reshaped the conditions for production and consumption of the nation’s sequential art. The term “comics” is applied to graphic narrative generally, which in turn is defined by the sequential use of images, usually in combination with language, in order to tell some kind of story. Comics are therefore a broad category of cultural production that includes newspaper strips, comic books, graphic novels, fotonovelas (comprising photographs in series with inserted dialogue text), and, more recently, webcomics. Comics are a cultural commodity the production and distribution of which are affected by changes in public supports, as well as by governmental controls over comics content. In the period of institutional consolidation that followed the armed phased of the Mexican Revolution, government supports were provided principally through the subsidizing of newsprint and the implementation of national literacy campaigns. The North American Free Trade Agreement (NAFTA)—a tri-national trade liberalization regime signed by Mexico, Canada, and the United States and implemented on January 1, 1994—significantly altered the circumstances of comics in Mexico, in terms of both the economic conditions for comics production and readership, and the political environment and public discourses addressed and communicated through Mexican comics art. The most direct impact on comics production came through the Mexican state’s retreat from control of the paper supply under the terms of NAFTA. Because paper is a key productive input, changes in paper cost and availability had the largest impact on the cost of long-form or sustained graphic narratives, such as comic books. As a result, the NAFTA period (1994 to present) is marked by the emergence of the Mexican graphic novel and of webcomics. Both of these cultural forms are based on a reorganization of the economics of comic-book production. Comics production and consumption are therefore implicated in neoliberal policy constructs such as the North American Free Trade agreement, despite not being an explicit category of economic activity addressed by the treaty.


1994 ◽  
Vol 9 (1) ◽  
pp. 53-71 ◽  
Author(s):  
Edward B. DeBellevue ◽  
Eric Hitzel ◽  
Kenneth Cline ◽  
Jorge A. Benitez ◽  
Julia Ramos-Miranda ◽  
...  

Significance Canada has a temporary exemption, but Trump is calling for North American Free Trade Agreement (NAFTA) renegotiations to be completed speedily. The NAFTA and tariffs issues have, therefore, become fused, raising questions about the outlook for Canada-US foreign relations. Impacts In the short term, Canadian steel companies may benefit from reduced foreign providers’ presence in the United States. Canada’s NAFTA negotiators will not respond to the Trump team’s threat to impose tariffs. Canadian businesses will begin to migrate south to take advantage of the new and more competitive US tax regime. Canada’s efforts to diversify its foreign trade and decrease US dependence will further accelerate, but still face hurdles.


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