Index

Global Tariff War: Economic, Political and Social Implications

ISBN: 978-1-80071-315-4, eISBN: 978-1-80071-314-7

Publication date: 9 March 2021

This content is currently only available as a PDF

Citation

(2021), "Index", Das, R.C. (Ed.) Global Tariff War: Economic, Political and Social Implications, Emerald Publishing Limited, Leeds, pp. 341-349. https://doi.org/10.1108/978-1-80071-314-720211030

Publisher

:

Emerald Publishing Limited

Copyright © 2021 Emerald Publishing Limited


INDEX

Note: Page numbers followed by “n” indicate notes.

Abusive protectionism
, 102

Ad-valorem tariff
, 275

Akaike information criterion (AIC)
, 90

Allocative inefficiency Deadweight loss

“America–First” approach, xxxiii
, 17

American Chamber of Commerce in China (AmCham)
, 104

American Political System
, 126

American Superconductor Corporation (AMSC)
, 104

Annual Survey of Industry (ASI)
, 176

Anti-dumping rules (ADP rules), 100, 188n1

Anti-subsidy tariff
, 100

Asian Development Bank (ADB)
, 18

Asian Development Outlook (ADO)
, 133

Asian Infrastructure Investment Bank (AIIB)
, 110

Asymmetric Mixed Data Sampling model (AMIDAS model)
, 164

Atkinson Index
, 329

of inequality for States of India
, 331–334

Augmented Dickey–Fuller unit root tests (ADF unit root tests)
, 50–51, 72–73, 75–76, 115, 156, 166

Average import duty
, 328–329

Average wage
, 196–197

Aviation Industry Corporation of China (AVIC)
, 247

Bai–Perron multiple breaks point tests
, 157–158, 183

Balance of payments (BoP)
, 98, 221

Balance of trade
, 47

Banana wars (1993)
, 4, 8

Basic force model
, 246

Beef War
, 8

Belt and Road Initiative (BRI)
, 267

Big money
, 21

Blacksea Economic Cooperation (BSEC)
, 47

Block exogeneity Wald test results
, 116–117

Bound rate
, 68

Bretton Woods Institutions (BWI)
, 45

Breusch–Godfrey Serial Correlation LM test
, 183

Canonical correlation analysis (CCORA)
, 248

Canonical root
, 249

Canonical variate
, 248

Capital

formation
, 225

input
, 177–178

Carbon

emission in trade
, 316

leakage
, 303

taxes
, 236–237

Chicken tariff
, 4

China
, 110, 162, 244, 259–260

currency policy
, 10

economy and development
, 232–234

holdings of US public and private securities
, 128–129

trade and business between
, 264–265

unauthorized cyber intrusions
, 127–128

US foreign assistance to
, 265

and US trade policies
, 234–235

China State Shipbuilding Corporation (CSSC)
, 247

Chinese enterprises
, 18

Chow test
, 156, 206

Climate

change
, 302

policy
, 300

Coefficient of variation
, 157

Cointegration test
, 73, 75–76

COLS method
, 179

Commission for Integrated Military and Civilian Development (CCIMD)
, 244

Commitment to Development Index
, 46

Commodity Price Index (CPI)
, 117

Communist Party
, 244

Comparative advantage theory
, 69

Competition
, 235

Competitive trade theory
, 88

Computable general equilibrium model (CGE model)
, 164

Congressional Budget Office (CBO)
, 114

Crude oil
, 114

Cuddy–Della Valle Index
, 206

Currency
, 130

manipulation
, 10

war
, 4–5, 101

Cyber intrusions
, 127–128

Cyber Theft
, 104

Deadweight loss
, 21

Demand-driven effect (DDE)
, 27

Developed nations
, 82

Developing countries
, 224–225

decision in front of
, 277–278

Developing economies
, 154

Developing market economies
, 58

Developing nations
, 68

Disruption of global value chain
, 130

Distortions
, 48

Dixit–Stiglitz framework
, 32

Dynamic comparative advantages
, 71

Dynamic panel models
, 89–90

Economic downturn
, 58, 63

Economic globalization
, 44

development with emissions in era of globalization
, 300–302

policy implications
, 302–304

qualitative analysis
, 297–300

rationale and objective of study
, 297

review of literature
, 295–296

Economic growth
, 142, 295

methodology and data
, 145–147

objectives
, 145

results of analysis
, 147–149

survey of literature
, 143–145

Economic integration
, 272–273

decision in front of developing countries
, 277–278

game theoretic approach
, 276–277

imposition of tariff and emergence of trade war
, 274–276

review of existing literature
, 273–274

Economic Policy Uncertainty (EPU)
, xxxvii, 113–114

Economic/economy
, 161, 232, 260

liberalism
, 246

policy
, 272

vulnerabilities in
, 162

Effective rate
, 68

Emergency Tariff Act (1921)
, 6–7

Emerging market economies
, 58

Employment effects
, 134

Endogenous structural break analysis, estimated results of
, 147–148

Engle–Granger cointegration analysis
, 163, 165

Environmental Kuznets Curve (EKC)
, 314

Environmentally Extended Multi Regional Input–Output analysis (EEMRIO analysis)
, 315

Equally Distributed Equivalent income (EDE income)
, 331

Error correction model (ECM), 73–74, 77 (see also Microtheoretic model)

estimable ECM model
, 74–79

European Union (EU)
, 4, 188

Excess burden (see Deadweight loss)

Exchange rate (EXR)
, 89

Expectations-augmented Philips curve theory
, 48

Exploratory analysis
, 156

Export
, 85–86, 142–143

credit
, 196

destination
, 191

subsidies
, 46

Export and Import Policy (Exim Policy)
, 142

Export share
, 155

data and methodology
, 155–157

empirical results
, 157–159

Export-led growth hypothesis (ELG hypothesis)
, 143, 295

Fairness
, 320

Financial year (FY)
, 265

First-differenced GMM estimation process
, 92–93

Force activation model
, 246

Fordney-McCumber Tariff Act
, 6–7

Foreign direct investment (FDI)
, 89, 194, 196, 253

inflow
, 328–329

Foreign exchange market
, 113

Foreign import
, 272

Foreign trade
, 142

Free trade
, 32, 46, 218, 277–278

principle
, 16

Full employment
, 22, 24

Fuzzy DEMATEL method
, 282, 284–286

G20 Summit
, 111

Game theoretic approach
, 276–277

Gender gap
, 326, 331

Gender inequality
, 326

limitations of study
, 338

literature review
, 326–327

methodology
, 327–330

Gender Inequality Index (GII)
, 328

of Indian States
, 334–336

on States of India
, 336–337

General Agreement on Tariffs and Trade (GATT)
, 6, 12, 44, 68, 154, 218

General Equilibrium (GE)
, 19–21

Generalized canonical correlation analysis (GCCA)
, 249

Generalized entropy (GE)
, 334

Generalized method of moments (GMM)
, xxxvii, 89–90

Gini coefficient
, 327

Global market
, 112

Global saving glut
, 99

Global super power, battle for dominance of
, 125–126

Global trade
, 313–314

policies
, 232

recommendations
, 317–321

trade policies and environment
, 315–317

Global Trade Analysis Project (GTAP)
, 59, 123

Globalization, 16, 44, 52, 58, 232, 235–236, 294 (see also Economic globalization)

benefits
, 45

gains and pains
, 47

process
, 47

of supply chains
, 300

Globalization gap (Globgap)
, 48–50

Government in tariff setting
, 38–40

Government Procurement Agreement (GPA)
, 104

Gradual shift of trade philosophy
, 126

Granger causality test
, 146–147

results of
, 148–149

Greenhouse gases (GHGs)
, 301

Gross domestic product (GDP)
, 19, 89, 142, 221, 248

effects on
, 133

rate of GDP growth
, 328–329

Gross fixed capital formation (GFCF)
, 178

Gross national income (GNI)
, 131

Gross national product (GNP)
, 89

Gross value added (GVA)
, 177

Growth

and development
, 247

rate
, 205–206

Growth led exports hypothesis (GLE hypothesis)
, 295–296

Harmonized System (HS)
, 131

Hawley–Smoot Tariff Act
, xxxiii–xxxiv

Hegemonic services
, 7

Hegemonic stability theory
, 245

Hegemonic war
, 245

Hegemons
, 98

High US trade deficit with China
, 126–127

Hodrick–Prescott filter (HP filter)
, 50

Iceberg cost
, 86

Ideology
, 260

Imperial presidency
, 20–21

Import, 142–143 (see also Export)

tariff
, 85–86

Impulse response

function
, 115

results
, 117

Income inequality
, 326

India
, 182–183

data analysis
, 195–198

export
, 191

literature review and gap
, 193–194

profile
, 191–193

results
, 198–199

Indian economy
, 142, 294

Inequality
, 329–331

Inequality-adjusted Human Development (IHDI)
, 328

of Indian States
, 334–336

Infinitesimal changes of trade policy
, 21

Inflation (INF)
, 89

effects
, 133

Information Technology (IT)
, 253

Innovation
, 319

Input-driven growth
, 174

Instability measurement
, 206–207

Instrumental Variables Generalized Method of Moments technique (IV-GMM technique)
, 50

Integrated database (IDB), 195n6

Intellectual property (IP)
, 100, 103–104

theft
, 127–128

Intellectual property rights (IPR)
, 103–104, 253

Interdisciplinary approach
, 320

Interest rates
, 163

International collaborations and agreements
, 314

International equilibrium
, 61–62

International joint ventures (IJV)
, 144

International Labor Organization (ILO)
, 197

International Monetary Fund (IMF)
, 12, 18, 218

International trade
, 32, 44, 47, 141–142, 144, 314

Iron triangle
, 244

J-curve result
, 296

Jarque-Bera statistic
, 78

Job loss in US
, 127

Johnson equilibrium
, 276

Keynesian framework
, 60

Kuznets hypothesis
, 297

Kwiatkowski–Phillips–Schmidt–Shin test (KPSS test)
, 197

Labor

index
, 177

input
, 177

wages
, 235–236

Liberal theorists
, 246

Liberalization
, 294

Liberalization, privatization, and globalization (LPG)
, 294

Local/national trade policies
, 314

Logarithmic transformation of Cobb–Douglas
, 179

Long-term strategic approach
, 320

Macroeconomic

adjustment
, 130

propagation
, 60

Made-in-China 2025 Initiative (MIC2025 Initiative)
, 126

Manufacturing
, 87, 234

activities
, 175

industries
, 176

sector
, 129

Maritime shipping
, 315

Maritime Silk Road project (MSR project)
, 110

Market-oriented economic reforms
, 326

Maternal mortality ratio (MMR)
, 336

Maximum-likelihood method (ML method)
, 179

Mercantilism
, 69, 245

Microtheoretic model
, xxxvi

baseline model
, 34–40

comparative statics
, 36–38

government in tariff setting
, 38–40

objective
, 32

review of literature
, 32–34

impact of tariff war on welfare
, 38

trade war through tariff retaliation
, 35–36

Military forces
, 244

Military–Industrial Complex (MIC)
, 244

findings and results
, 250–254

literature review and theoretical framework
, 244–247

methodology and data requirements
, 248–250

Most favored nation (MFN)
, 100, 223

Multi fiber agreement (MFA)
, 9, 148

Multinational corporations (MNCs)
, 16

functionalities
, 17

impact
, 18

Multiple regression technique
, 131

Nash equilibrium
, 276

National productivity, improvement of
, 88

Negative Tariff Ridden Effect (NTRE)
, 24

Neo-classical realists
, 246

Neo-liberals
, 236

Neo-mercantilism
, 99–100

Neo-protectionism
, 187

New Industrial Policy (1991)
, 218

Non-tariff barriers (NTB)
, 188, 253

Non-tariff measures (NTMs)
, 221

North American Free Trade Agreement (NAFTA)
, 106

North economies
, 86

Obs*R-squared statistic
, 183

Oil prices
, 163

analysis for US–China trade war
, 166–167

literature review
, 163–165

methodology
, 165–166

volatility
, 164

One-time endogenous structural break (Zivot and Andrews approach)
, 145–146

Opium Wars
, 4

Optimum tariff
, 275

Ordinary least squares estimations (OLS estimations)
, 198, 296

Paris Agreement
, 314

People’s Republic of China (PRC)
, 19, 244

Per capita income
, 195

Perpetual inventory method (PIM)
, 177–178

Perron’s method
, 145

Philip Peron unit root tests (P–P unit root tests)
, 50–51

Poirier’s Spline function approach
, 206

Political economy of trade tariff and policies
, 232

China and US trade policies
, 234–235

China’s economy and development
, 232–234

impacts of trade policies on global policy
, 235–237

recommendations for future trade policies and tariff strategies
, 237–238

Pollution haven hypothesis
, 303

Positive Tariff Ridden Effect (PTRE)
, 24

Post-independence development plans
, 174

Potential globalization (PG)
, 50

Prisoner’s dilemma
, 276

Privatization
, 295

Productivity-driven growth
, 174

Protectionism
, 16, 188, 220, 272–273, 278

Prototype H–O model of international trade
, 33

Purchasing power Parity GNI (PPPGNI)
, 124, 130–131

Quantitative easing
, 101

Real effective exchange rate (REER)
, 193, 195

Recession
, 274

outbreak of
, 62–64

Reciprocal dumping
, 33

Reciprocal Trade Agreement Act (1934)
, 6

Redundancy analysis (RDA)
, 248

Regional Comprehensive Economic Partnership (RCEP)
, 218

Regional dynamics
, 88

Regional trade agreements (RTAs)
, 58

Regression equation
, 133

Renewable energy (RE)
, 314

Renminbi (RMB)
, 102–103

Reserve Bank of India (RBI)
, 191

Restricted trade
, 44, 49, 52

Roosevelt Administration
, 7

Rybczynski theorem
, 24

Sanitary and Phyto sanitary measures (SPS measures), 188n1

Scale change
, 177

Shino–US tariff war implications impact on India’s tea export
, 213–214

Silk Road Economic Belt project
, 110

Sino-American hostility
, 263–267

Smoot-Hawley Tariff Act (1930)
, xxxiii–xxxiv, 4–7

Social accounting matrix (SAM)
, 164

Social democratic parties
, 236

Social indicators
, 282

analysis regarding effects of trade war on
, 286–287

Fuzzy DEMATEL method
, 284–286

literature review
, 282–284

Social welfare function
, 24–25

Softwood lumber issues
, 11

South Asian Nations (SANs)
, 297

South economies
, 87

State capitalism
, 98

Stationary test results
, 115–116

Steel Tariff War (2002)
, 9

Stella-Casual loop diagram
, 223–224

Stochastic Frontier Approach (SFA)
, 176

measurement of TFPG by
, 178–179

Stolper–Samuelson theorem (SS theorem)
, 23–24

Structural break
, 208–210

Structural break analysis
, 147

Sup F type test
, 156–157

Sustainability
, 314, 316

Sustainable development goals (SDG)
, 154–155, 318

Switching points
, 208–210

T-bill and Eurodollar (TED)
, 114

Tariff (TRF)
, 44, 68–69, 85, 142–143, 188, 218, 263

policy
, 40, 60

rate
, 60–61, 68, 275

tariff–growth paradox
, 72

trade war through tariff retaliation
, 35–36

Tariff imposition
, 86, 274–276

data and methodology
, 88–90

empirical results
, 90–94

literature survey
, 87–88

Tariff war
, xxxiv–xxxv, 4–5, 110

baseline model
, 60–62

comparative statics
, 23–24

literature review
, 19–21, 58–60

objective
, 60

outbreak of recession, trade friction, and
, 62–64

impact of tariff war on welfare
, 38

theoretical foundation of hybrid model
, 21–23

variant of basic model
, 25–27

Tariff-rate quotas (TRQs)
, 12

Tea export
, 204–205

descriptive statistics and growth rate and instability
, 210–212

policy implication
, 214–215

research methodology
, 205–207

research results
, 207–214

Technical barriers to trade (TBT), 188n1

Technical efficiency
, 177, 179

Technological progress
, 177

Terms of trade (TOT)
, 275

Theil Entropy Index (TE)
, 329–330

for states of India
, 330–331

Thucydides trap
, 98

Time series econometric enquiry

empirical findings
, 74

estimable ECM model
, 74–79

objectives, data, variables, and methodology of study
, 72–74

theoretical background
, 69–72

Tire-fight
, 10–11

“Tit-for-tat-tariff” battle
, 266

Toda-Yamamoto causality analysis
, 163, 165–167

Tokyo Round of the GATT
, 158

Total factor productivity (TFP)
, 174

Total factor productivity growth (TFPG)
, 174, 176–177

comparison between results of West Bengal and India
, 182–183

literature review
, 175–176

measurement of output and inputs
, 177–178

methodology and database
, 176–181

objectives
, 176

results
, 181–182

Trade (TRD)
, 89–90, 154, 294

barriers
, 46, 70, 87, 195

and business between United States and China
, 264–265

diversions
, 129

footprint
, 318

outbreak of trade friction
, 62–64

as percentage of GDP
, 68–69

surplus
, 98, 100

tariffs
, 236–237, 313–314

theory
, 276

trade-disruptive economic model
, 111

Trade Act (1974)
, 219–220

Trade GDP ratio (TGR)
, 124

Trade openness
, 49, 155, 328–329

impact on India’s tea export
, 212–213

measurement
, 207

Trade policies
, 69–70, 86–87, 232, 238, 313–314, 316

and environment
, 315–317

impacts of trade policies on global policy
, 235–237

of India
, 218

and tariffs
, 321

Trade restrictions
, 283

policies
, 46

Trade war(s)
, 4, 16, 21, 24–25, 58–59, 163, 220, 245, 260, 273–274, 281–282

before and after World War II
, 7–8

Banana War and Beef War
, 8

during Bush era
, 102–103

causes of trade conflicts between US and China
, 125–129

China’s currency policy
, 10

economic factors
, 126–129

economic implications of
, xxxv–xxxix

emergence of
, 274–276

empirical analysis
, 130–133

Great Trade War
, 11–13

historical evidences of trade war between US and China
, 124–125

impact on Asian economies
, 133–134

literature review
, 123, 220–222

methodology
, 223

non-economic strategic factors
, 125–126

during Obama era
, 103–105

objective of study and methodology
, 5, 123–124, 223

performance analysis of system and results
, 224–226

political, social and environmental aspects of
, xxxix–xli

in presence of unemployment
, 27

significance of study
, 222–223

Smoot-Hawley Tariff Act
, 5–7

on social situations
, 284

Steel Tariff War (2002)
, 9

through tariff retaliation
, 35–36

US–Canada softwood lumber issues
, 11

US–China tire-fight under Obama administration
, 10–11

effect of US–China trade war
, 129–130

between Washington and Beijing
, 265–267

after World War I
, 5

Tradeoff
, 44

data and methodology
, 48–50

results
, 50–53

Trans-Pacific Partnership (TPP)
, 106

Treaty of Wangxia
, 259–260

Trend stationary (TS)
, 147

Trumponomics
, 272

Turkey-EU (T-EU)
, 47

Two-stage game
, 40

UD max test
, 156–157

Uncertainty
, 130, 284

Unemployment
, 25–27

Unemployment augmented tariff ridden effect (UATRE)
, 26

Unfair trade practices
, 122

Unit root test
, 115, 131, 207–208

United Nations Educational, Scientific and Cultural Organization (UNESCO)
, 154

United States (US)
, 110, 162, 244, 259–260

firms
, 105

importers
, 221

shocks
, 112

trade and business between
, 264–265

United States International Trade Commission (USITC)
, 104

Univariate time series
, 156

Uruguay Round
, 68–69

of GATT agreement
, 158

US Energy Information Administration (EIA)
, 114

US foreign assistance to China
, 265

US Generalized System of Preferences (GSP)
, 219

withdrawals
, 220

US Trade Act (1974)
, 124

USA–China Trade War
, 98

border to borderless world
, 99–102

during Donald Trump
, 105–107

escalates
, 102–107

objectives
, 99

US–Canada softwood lumber issues
, 11

US–China tire-fight under Obama administration
, 10–11

US–China trade conflict
, 110

US–China trade confrontation
, xxxvi

US–China trade war
, 20, 59, 165

effect of
, 129–130

analysis for
, 166–167

US–China trading relations
, 9, 259, 261–262

economic synergies
, 262–263

methodology
, 261

policy suggestions
, 268–269

research questions
, 261

results of study
, 267–268

review of literature
, 260–261

Sino-American hostility
, 263–267

US–Korea Free Trade Agreement
, 106

US–Mexico–Canada Agreement (USMCA)
, 221

Value added tax (VAT)
, 245

Vector auto regressive model (VAR model), 73, 115, 166 (see also Microtheoretic model)

data and variable descriptions
, 113–115

Granger causality test results
, 116–117

literature review
, 111–113

materials and methods
, 113–115

methodology
, 115

results and analysis
, 115–117

Virtual carbon trade
, 315–316

Virtual input resources
, 318–319

Virtual water trade (VW trade)
, 316–317

Volatility
, 163

Volume of trade (VOT)
, 275

Voluntary Export Restraint (VER)
, 124

Washington–Beijing relations
, 259

Weighted tariff rates (WTR)
, 124

Welfare
, 24–25

maximization
, 36

in presence of unemployment
, 27

impact of tariff war on
, 38

West Bengal
, 182–183

Wilk’s Lambda
, 250

“Win–lose” principle-based trade
, 237

“Win–win” strategy
, 237, 320

Working life
, 284

World economy
, 68, 70

World exports
, 194

World income
, 195

World Trade Organization (WTO)
, xxxviii, 5, 8, 31, 44, 68, 98, 101, 154, 175, 218, 253, 261, 276–277

Agreement
, 69

issues
, 104–105

principles
, 111

regime
, 187

and US–China economic relations
, 267

Prelims
Section I: Economic Implications of Trade War
Chapter 1: Trade War in the Twenty-First Century: A Historical Perspective
Chapter 2: Tariff War, Unemployment Rate, and Welfare
Chapter 3: Trade War and its Welfare Consequences: A Micro-theoretic Introspection
Chapter 4: Tradeoff Between Globalization and Restricted Trade: Some International Evidence
Chapter 5: Tariff War and Its Spillover Consequence: A Macrotheoretic Evaluation
Chapter 6: Impact of Tariff War on World Economy Especially After WTO: A Time Series Econometric Enquiry
Chapter 7: Tariff Imposition and Manufacturing Trade: A Comparative Study on the Economies of North and South
Chapter 8: The Return of Borders to a Borderless World: The USA–China Trade War Saga
Chapter 9: China and US Economic Policy Uncertainty and its Impact on Major International Markets: A Vector Auto Regressive Analysis
Chapter 10: Analysis of the Causes of Trade War Between the US and China and its Impact on Selected Asian Countries
Chapter 11: Economic Growth and Trade-related Variables: An Empirical Study Using Indian Data
Chapter 12: Changing Export Share of Developing Economies: A Post-WTO Scenario
Chapter 13: Understanding the Impact of Trade War Between the US and China on Oil Price Volatility
Chapter 14: A Stochastic Frontier Approach to the Estimation of Total Factor Productivity Growth of Manufacturing Sector: Pre- and Post-WTO Regime Study of West Bengal and All India
Chapter 15: India’s Export Under Neo-Protectionism with Special Emphasis Upon EU and Japan
Chapter 16: India’s Tea Export in the Scenario of Trade Openness: An Analysis of Trend and Structural Break
Chapter 17: Impact of Trade War on Developing Countries: A Case Study of India
Section II: Political, Social and Environmental Aspects of Trade War
Chapter 18: Political Economy of Trade and Trade Tariffs: The United States and China Trade Policies
Chapter 19: The Impact of the Trade War on the Military Industrial Complex of United States and China
Chapter 20: The US–China Trading Relations: Dilemmas and Potentialities
Chapter 21: Economic Integration or Trumponomics: The Choice is a Big Question for Developing Economies
Chapter 22: Impacts of Trade War Upon Social Indicators
Chapter 23: Revisiting Economic Globalization in the Sustainable Open Exchange System
Chapter 24: Impacts of the Trade Policies and Trade Tariffs on the Environmental Footprint of the Global Trade
Chapter 25: Income and Gender Inequality in India in the Post-WTO Period
Index