Dynamic Linear Interdependence between International Trade and Macroeconomic Stability in Nigeria: A Vector Error Correction Modelling.

Causal relationships are often treated erroneously in isolation as a single equation without the consideration of the endogeneity of right-hand side variables and also without recourse to the presence of coco-integration. This study modelled and estimated the dynamic linear interdependence between international trade and macroeconomic stability in Nigeria. The specific objectives were to, establish the trend of the study variables, model and estimate the interdependence existing among total export, total import, exchange rate, and inflation rate, determine the significant causalities and summarize the causal channels among the study variables. The study used the quasi-experimental design. The study used monthly time series data which span from January, 2000 to June, 2019. The data on all the variables were sourced from the Central Bank of Nigeria Statistical Bulletin. Appropriate models were specified in line with the objectives. The study used the Vector Error Correction Models, the pre and post-diagnostic tests were also conducted. The unit root test results showed that the variables were integrated of order one [I(1)]. The co-integration test results showed 1 co-integrating equation and VAR lag length selection criteria choose lag 2. The Vector Error Correction Result showed that inflation rate was the most explained by variations in the independent variables (R2 =73.4%) while exchange Rate was the least explained (R2 =18.8%), the total export model had R2 =53.8% and total import model had (R2 =59.2%. Significant bi-directional causality was found between total export and inflation rate, and also between total import and inflation rate. There was also significant joint causality on total import and also on exchange rate. The post test showed that the models were stable. It was recommended that the right-hand side variables should be tested for endogeneity before concluding on single or system equation. It was also recommended that policies to check inflation rate should consider possibility of shocks to international trade.

Problems and prospective ways to increase the volume of export of scientific services by Ukraine in the conditions of European integration

The interpretation of the concept of "knowledge-intensive services" by domestic and foreign specialists is considered. The content of the category has been clarified. Data on exports of knowledge-intensive services in Ukraine and the G7 countries in recent years have been studied. The analysis and comparison of structural shares of knowledge-intensive services in the total export of the country is carried out. Data on the number of employees in the field of knowledge-intensive services were studied. The result of the analysis was the formation of ways to increase ukrainian export of knowledge-intensive services. An appropriate analysis of data related to the export of knowledge-intensive services allowed us to assess the prospects for increasing exports and possible ways to achieve this. Finding ways to increase exports is vital for countries with troubled economies, such as Ukraine. Since the predominance of imports over exports has been observed for many years and is a constant trend, namely the value of the balance of payments is negative, we need to focus on exports of goods and services, in the production of which Ukraine has absolute advantages. One of such services is knowledge-intensive services. Their significant share in the structure of total exports, as well as the level of employment in the field of knowledge-intensive services, indicate that the prospects for growth in exports of science-intensive services to Ukraine are quite real and desirable. It is important to understand that this will improve not only the financial part, but also others. Due to the increase in exports of knowledge-intensive services, employment may increase, as this will require more specialists. To do this, future professionals need to obtain the appropriate level of education in this area. That is, by increasing one indicator, you can create a chain effect that will improve the overall situation.

International Trade and Economic Misery in African Countries with Low Human Development

Puzzled by the demeaning level of poverty most African countries continue to grapple with despite their extensive participation in international trade, the study attempts to examine the encumbrances that tend to impede African countries from optimally reaping the developmental gains inherent in partaking in international trade, which seems to also worsen the economic misery the inhabitants endlessly contend with. The System Generalized Method of Moments (System-GMM) estimation technique was used in the study which involves 17 African countries and spans from 1995 - 2018. While misery index is used to measure economic misery, the impact of international trade on economic misery is captured by means of its effect via economic misery, economic growth rate, balance of payment, total export, manufacture export and exchange rate. The results of the study reveal that balance of payments, total export, manufacture export, per capita GDP growth rate, exchange rate and lagged form of economic misery all have positive effect on economic misery. While the effects of total export, manufacture export, per capita GDP growth rate, and exchange rate on economic misery are significant, those of balance of payments and lagged form of economic misery are insignificant. While the study recommends that international trade be engaged strategically such that it results in favourable balance of payments, it also encourages the discarding of obsolete trade policies such as outright bans on importation of certain commodities. Bilateral trade agreements are recommended over multilateral trade agreements, since they are more mutually beneficial and binding on the parties involved

Spices Production in Ethiopia: A Review

These papers describe the status, challenges and opportunities of spices production in Ethiopia. It has the highest potential to produce a lot of spice crops. The country mainly produces; Korarima, chillies, turmeric, ginger, black pepper, cumin, fenugreek, coriander and so forth. In spite of the fact that the country has great potential for various spices production, the subsector of spices had remained and neglected and subsequently the level of production and share of spice crops of the total export earning of the country is at considerably low level. Hence, it is essential to describe the status, challenges and opportunities of spices sector in Ethiopia, for best uses of the potential and used spice crop resources. Among the various spices crops, chilli/hot pepper is the most commonly produced spices in Ethiopia. Similarly, the Ethiopian spice productions have showed a declining trend from 2013 onwards. This is mainly due to the disease that considerably affects ginger production and the rapid increasing domestic demand of spices. Therefore, intervention and provide awareness for spices growers on using improved production and processing technology, training across all production and productivity, formulating strong marketing regulations and proclamation is of paramount importance to increase the production, profits and productivity.

Footprint of Export-Related GHG Emissions from Latin America and the Caribbean

To quantify the growth in GHG emissions related to international trade, we build an extensive database for export-related production and transportation GHG emissions covering 189 countries and 10 sectors from 1990 to 2014. We employ this database to quantify the contribution of production and international transportation to total export-related GHG emissions from Latin America and the Caribbean and decompose growth in these to contributions of the increase in the regions trade flows, shifts in the composition of trade partners, changes in the traded product basket, and technological progress.

India’s Foreign Trade – An Overview

Export-Play, Important Role of any country’s business India is one among these countries that have been exporting a large number of product and raw material to other countries to earn economy wealth. India is 19th largest export economy. India’s overall, export- in 2019-20 was US $ 313138.5 million and total import was US $ 473995.2 million and trade balance was US $ 160856.7 million. The main object of the paper is to analyse the structural change in foreign trade- Under new Exim policy. The period of the study is from 2010-11 to 2019-20. The result shows that USA, UAE, Hongkong, UK, Germany, Saudi Arbia and China accounted from more than 40% of export from India at the world level. India total export which was US $ 330078.1 million in the year 2018-19 decline to US $ 313138.5 million in the year 2019-20. The total export from India decreased by 5.13% from the year 2018-19 to year 2019-20. In the year 2019-20 the share in total export from India to USA is 16.95%, UAE 9.21%, China 5.30%, Hongkong 3.50%, UK 2.79%, Germany 2.64%, and Saudi Arbia 1.99%. India’s total import in the year 2019-20 was US $ 473995.2 million which China contributed by 37.76%, USA 7.52%, Saudi Ariba 3.60%, Hongkong 3.5%, UAE .38% and Germany 2.81%,. The result show that USA is most important trading partner followed by UAE an UK, Hongkong, China and other countries.

A Comparative Study of Marketing Practices of Knitwear Export Units in Punjab and Tamil Nadu

The present study was conducted to compare the marketing strategies of knitwear exporters of Ludhiana (Punjab) and Tirupur (Tamil Nadu). An exploratory study was conducted in which thirty knitwear export units each from Ludhiana and Tirupur were selected, and information was collected using a questionnaire. In Tirupur, only 3 percent of the units had their brand, while in Ludhiana, 60.00 percent of the units had their brand. Out of the knitwear units in Ludhiana, which did not own a brand, 91.67 percent worked with buyer's brand or other private labels, while in Tirupur, 58.63 percent of the units were not interested in owning a brand. The first rank was given to seminars, workshops, and international trade shows, which were used as a source to get information by knitwear export units at both places (Ludhiana and Tirupur). One-third of the units in Ludhiana acquired ISO14000 certification, while in Tirupur, about two-thirds of the units got OekoTex Standard-100. It was also found that 46.67 percent of the units in Ludhiana spent less than 5 lakh rupees, and in Tirupur, 30 percent of the units spent more than 15 lakh as promotional ? budget. Nearly half (53.33 percent) of the units in Ludhiana and 36.67 percent of the knitwear export units in Tirupur spent 3-9 percent of total export sales on marketing research.

Markov-Switching Vector Autoregressive Modelling (Intercept Adjusted); Application to International Trade and Macroeconomic Stability in Nigeria (2000M1–2019M6)

Economic relationships are often modelled without consideration of a possible regime switch, the transmission from one regime to another and the duration of stay in a particular regime which are not captured by linear models. This study aimed to model and estimate the interdependence existing among Nigeria’s International Trade and Macroeconomic Stability. Specifically, this study sought to estimate and compare the estimated Models, select the best Model and determine the probabilities of stay, the expected duration of stay in a particular regime. The study adopted a quasi-experimental design. Time series data on the study variables from January 2000 to June 2019 were obtained from the Statistical Bulletin of the Central Bank of Nigeria. Models were specified accordingly, the statistical analyses were carried out using the Markov Switching Intercept Vector Autoregressive Models, the pre and post-diagnostic tests were also conducted. The unit root test results showed I (1). VAR lag length selection criteria choose lag 2. The MS-VAR analysis identified two regimes (expansion and contraction), the information criteria selected the Markov-Switching Intercept Autoregressive Heteroschedastic 2 Variance Auto-regression 2 [MSIARH (2) - VAR (2)]. The MS-VAR results in regime 1 showed that lags 1 and 2 of total export significantly affected total export and total import, Lags 1 and 2 of total import had significant effects on exchange rate while lags 1 of exchange rate and lags 1 and 2 of exchange rate had significant effects on inflation rate. In Regime 2, lag 1 of total export and lag 2 of exchange rate had significant effects on total export. Only lag 2 of inflation rate had significant effects on exchange rate while lag 2 of total export and lags 1 and 2 of exchange rate had significant effects on the inflation rate. The results also showed an 89% probability of staying in regime 1 for a duration of 8 months 8 days and 57% probability of staying in regime 2 for 2 months 10 days. It was concluded that the MSIARH (2) - VAR (2). It was recommended that the right-hand side variables should be tested for endogeneity before concluding on single or system equation. It was also recommended that the possibility of regimes should be verified before concluding on linear or nonlinear models.

Regional Analysis of U.S. Lumber Exports for Important Hardwood Species from 1990 to 2020

In 1990, Europe, North America, and the Asian democracies of Japan, Taiwan, and South Korea (JTK) were the major export markets for U.S. hardwood lumber and oak species accounted for 59 percent of total exports. In the 1990s, shipments to Europe and North America increased, while shipments to JTK declined. During the early 2000s, exports to China and Vietnam (CHV) increased. The worldwide recession of 2009 caused exports to decline in all regions, and oak species accounted for 37 percent of total shipments that year. Since 2010, CHV has become the most important export market for all species except maple. In 2020, oak species accounted for 43 percent of total export volume, and walnut ranked third in value of shipments. An examination of imputed prices found that exports tend to be composed of mid- to higher-quality hardwood lumber. Since 1997, real prices of exported lumber have declined for most species, and this decline occurred concurrently with increased U.S. sawtimber volume. In the 1990s, increased exports expanded the market for domestically produced hardwood lumber. Since the early 2000s, increased lumber exports have partially countered reduced domestic demand and have acted as a hedge against greater declines in overall demand for U.S. hardwood lumber.

Role of MSME's In Economic Growth Of India

In this paper, secondary data of MSME’s annual report is used to analysis the different aspects of MSME’s and its role in the Indian economy. We can see the huge growth in number of MSME’s in 2005-06 due to MSME’s act 2006 implemented, which increases the coverage of number of enterprises by properly defining the criteria of MSME’s. MSME’s also contributed very highly in total export of the country. Data suggested that most of the enterprises registered under MSME’s act are fall under the micro and small category and very few enterprise are under medium category within it. Male female participation ratio is also analyzed state wise in this paper some northeastern states like Manipur, Meghalaya, Mizoram, Nagaland are doing very good in male female participation ratio.