Throughout this book, present study aimed to create interest and guide the readers about achievement of trade liberalization among developing countries. It is also aimed to analyze, how developing countries can enhance their intra-regional trade based on Regional Trade Agreements (RTAs), and up to what extend a dynamic approach (i.e. Pattern of comparative advantage) can be fruitful in identification of sectors/products having export potential among concern economies. Accordingly, our finding revealed that trade performance can be improve due to formation of RTAs (i.e. Preferential or Free trade agreements), and Balassa’s (1965) Index can be considered as an appropriate tool for the identification of products/sectors of concern country having a vast trade potential. In this study, empirically results on relationship between exports and economy growth also support the theory of endogenous growth. Therefore, our findings facilitate the regulatory authorities of less developed countries to give special attention on adoption of combine approach and removing of technology gap, in order to improve economic growth and best use of RTAs.
This study examines the postulation that trade liberalization (regional integration) policies of LDCs normally undermine their presumed impact. The study is based on the experience of EAC trade agreement. It adopts the extended gravity model, to analyze the impact of this regional integration on food item. The model includes 168 countries and is estimated with panel data over the period 1988 – 1996. The Poisson estimation method took into account unobserved trade data characteristics of the bilateral trade relations. The results show that regional trade integration increased exports, normally at the expense of imports and welfare of non-members, and these exports were more reflective of food exports growth. The same has not been true for intra-bloc exports of food although the sector experienced an increase in exports resulting from the implementation of a trade agreement. The intra-bloc results are consistent with the structural rigidities of the exporting EAC Countries.
In the world of rapidly growing global liberalization, the issue of the relationship between international trade and economic growth has become increasingly important. While the benefits of trade creation are widely recognized among economists and policy makers alike, the growing proliferation of regional trade agreements (RTAs) has led to a debate on the impacts of RTAs on their member countries. As far as Ukraine is concerned, two main options of regional economic integration are on the agenda: the establishment of a Deep and Comprehensive Free Trade Agreement (DCFTA) with the EU and the participation in the recently formed Customs Union between Russia, Belarus and Kazakhstan (CU RBK). While it is possible for a country to participate in several regional trade agreements at the same time, Ukraine appears to be in a unique situation where a full membership in CU RBK is incompatible with the free trade regime of the DCFTA. Although entry into both RTAs would be the best solution, Ukraine’s current situation forces the country to make a strategic choice of which partner to ally with. The objective of this work is to provide a holistic analysis of both RTAs and their potential impact on the economy of Ukraine in terms of economic growth and other related aspects.
While trade liberalization is expected to boost economic welfare, the reverse is true in Cameroon and most LDCs countries. To explore the possible effects of trade liberalization on poverty alleviation in Cameroon, this study examines key indicators of poverty. Parallel to Multilateral WTO negotiation’s, which have temporally come to a halt, a large number of bilateral and regional trade agreements have been signed, or are under negotiation.. The purpose of this study is to present a broad view of recent events in this area of trade liberalization or regionalization and the South –South Trade with special emphasis on agreements covering developing countries in general and LDCs in particular. Is Cameroon Trade the answer to alleviating poverty?
Geographical indications are today considered major intellectual assets in relation to a variety of goods. They are seen not only as a tool for protecting consumer’s interests but also as a legal and economic tool for the development of rural areas and the preservation of cultural heritage. The importance that geographical indications have gained over the last few decades is reflected in their inclusion as protectable subject matter under the World Trade Organization (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) in 1994 and in subsequent bilateral and regional trade agreements as well as the immense interest in the current negotiations in the context of the Doha Round of Multilateral Trade Negotiations.
This study reviews literature on regional economic integration. it Pays attention to both traditional and modern theory of regional economic integration ,the effects of regional economic integration as well as stages .It assesses existing empirical findings on effects of regional economic integration to support the analytical methods used in this study. At the same time, the study mainly focus on assessing trade effects of regional economic integration at sectoral level taking SADC as case study . In this regard, this study looks at theoretical justifications for using gravity model to analyze trade creation and diversion effects of forming regional blocs in Africa. Accordingly, empirical studies on regional economic integration process in Africa show sluggish progress and there by limited level of intra trade. Particularly, the empirical results show that the intra -SADC trade is growing in fuel and minerals, and heavy manufacturing sectors while it displays a declining trend in agricultural and light manufacturing sectors.
This is the seventeenth volume in an annual series in which leading economists provide a concise and accessible evaluation of major developments in trade and trade policy. Examines key issues pertinent to the multinational trading system, as well as regional trade arrangements and policy developments at the national level Provides up-to-date assessments of the World Trade Organization's current Trade Policy Reviews A vital resource for researchers, analysts and policy-advisors interested in trade policy and other open economy issues Analyses global trade policy in Turkey, China and The Dominican Republic, and a survey by Tarlok Singh questions whether international trade does cause economic growth Includes chapters exploring WTO issues, and a section on regional trading agreements
Despite the fact that SAARC countries have been relentlessly striving to enhance economic cooperation and boost intra-regional trade through various trade agreements, analysts argue that this objective has remained elusive for a long time. This study, therefore, recounts the findings after testing the effects of bilateral trade agreements on trade flows of SAARC countries using gravity models. Also, with GTAP model, it shows the welfare implications resulting from preferential tariffs and free trade agreements among not only SAARC countries per se, but also by aggregating with other countries and regions, including China, Japan, South Korea, the United States and the EU. The lessons from this study is expected to provide insights on untapped trade potential and significant complementarities that exist within the SAARC region, which might explain why intra-SAARC trade is low, and how regional integration and economic cooperation among SAARC countries could be further deepened. The analysis should also stimulate policymakers to devise appropriate measures to promote intra- as well as inter-regional trade.
The idea of Regional integration in West Africa has a lot to do with the evolving character of international trade and global economy, issues linked with regionalism, trade liberalisation and economic integration policies and frameworks cannot be over-emphasised. This book gives a detailed explanation on issues facing ECOWAS regional integration policies. It is quite informative, theoretically exemplified and policy-loaded, as far as trade and economic development in the West African block is concerned.
The processes of economic reform (Doi moi) beginning in 1986 and of deeper integration commencing in 1995 were the major changes, within which, Vietnam’s international trade regime was re-shaped. After an initially hesitant start in the late 1980’s, the efforts of liberalization have been accelerated since 1995 as the result of Vietnam’s intensified integration into the regional and world economy with its tightening schedule for bilateral and multilateral commitments. Those institutional changes were of strategic importance in the past and will promote a new stage of development in the future. Although being implemented in a cautious and gradual fashion, trade liberalization undertaken by the government of Vietnam up to date could be regarded as successful. The success story of Vietnam in terms of progressive liberalization of trade, spectacular growth and impressive reduction in poverty incidence during the last 20 years could provide a good example of how liberalization of trade regime can be translated into trade expansion, economic growth and poverty reduction.
In the dissertation, a local currency and trade networks in Asian Pacific Region have been constructed based on the real data. The topology and dynamics are studied, based upon which the impacts of US financial crisis on the structural and behavior pattern of the regional trade web; the synchronization of the currency network are then investigated. Furthermore the regional service trade barriers are measured and their impacts are estimated. Finally the behavior of foreign banking in China are examined using the most recent data.
It is widely held that trade positively affects the growth of nations. Several institutions exist to deal with trade between nations. Of such institutions, regional trade agreements (RTAs) have witnessed the most dramatic increase since the early 1990s. Governments have been relentless in entering into RTAs; some belong to two or more. The amount of resources spent creating and managing these RTAs is substantial, which begs the question: “Do the benefits of intraregional trade justify its preferential advancement over extra-regional trade?” This book attempts to shed light on this question. Rather than a general analysis of the pros and cons of RTAs, an approach most prevalent in literature, this book looks at the economic argument of favoring intraregional trade in RTAs. It analyzes the impact on growth of the two trade patterns using a fixed effects regression model, which treats the sample countries as a group, while recognizing the unobserved time invariant factors in each country that may influence growth. The analysis should help shed light on the efficacy of advancing RTAs and should be useful to students of trade and growth, policy analysts and policy makers.
Systematic removal of trade barrier across many industries during the early 1990s raised a debate over the role of trade on the environment. This thesis attempts to gain a deeper understanding of the environmental implications of trade liberalization in India. The study concludes that differential impact of average tariff reduction during trade liberalization in India promotes heavy polluting industries.
This is the eighteenth volume in an annual series in which leading economists provide a concise and accessible evaluation of major developments in trade and trade policy. Examines key issues pertinent to the multinational trading system, as well as regional trade arrangements and policy developments at the national level The 2011 issue analyses global trade policy in areas such as Malaysia, West Africa and China Includes a review of antidumping, safeguards and countervailing duties from 1990–2009 Includes chapters exploring WTO issues, and a special section on agricultural trading issues Provides up-to-date assessments of the World Trade Organization's current Trade Policy Reviews A vital resource for researchers, analysts and policy-advisors interested in trade policy and other open economy issues
This is the nineteenth volume in an annual series in which leading economists provide a concise and accessible evaluation of major developments in trade and trade policy. Examines key issues pertinent to the multinational trading system, as well as regional trade arrangements and policy developments at the national level Includes chapters exploring WTO issues, and agricultural trading issues Provides up-to-date assessments of the World Trade Organization's current Trade Policy Reviews Analyses global trade policy in areas such as Australia and Sri Lanka, and includes special sections on both China and Malaysia A vital resource for researchers, analysts and policy-advisors interested in trade policy and other open economy issues