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Article
Publication date: 27 April 2018

Farkhondeh Jabalameli and Ehsan Rasoulinezhad

The purpose of this paper is to analyze and compare the similarities in the foreign trade patterns of China and the other BRICS (Brazil, Russia, India, China and South…

Abstract

Purpose

The purpose of this paper is to analyze and compare the similarities in the foreign trade patterns of China and the other BRICS (Brazil, Russia, India, China and South Africa) members.

Design/methodology/approach

Three panel data estimations, namely, fixed effect, random effect and fully modified ordinary least squares, have been conducted in this paper based on the gravitational model of international trade for bilateral trade of each BRICS member with five United Nations (UN) regional groups from 2001 to 2015.

Findings

The results revealed that Russia has a dissimilar trade pattern, based on the Heckscher–Ohlin (H-O) framework, with these five regional groups, while the other BRICS members follow the Linder hypothesis. Furthermore, it was found that China has a faster pace of globalization, while the rest of the BRICS members have experienced regionalization rather than globalization. In addition, geographical distance, as a proxy for transportation cost, has a weaker negative effect on the trade patterns of China and India, which makes the trade patterns of BRICS members dissimilar.

Originality/value

To the best of the authors’ knowledge, this paper is the first attempt to examine and compare the BRICS member countries’ foreign trade pattern through a gravity trade approach.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 11 no. 2
Type: Research Article
ISSN: 1754-4408

Keywords

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Article
Publication date: 10 June 2021

Chuc Anh Tu and Ehsan Rasoulinezhad

One of the major negative effects of the Coronavirus outbreak worldwide has been reduced investment in green energy projects and energy efficiency. The main purpose of…

Abstract

Purpose

One of the major negative effects of the Coronavirus outbreak worldwide has been reduced investment in green energy projects and energy efficiency. The main purpose of this paper is to study the role of green bond proposed by the World Bank in 2008, as a reliable instrument to enhance the capital flow in energy efficiency financing and to develop green energy resources during and post the current challenging global time.

Design/methodology/approach

We model energy efficiency for 37 members of OECD through a panel data framework and quarterly data over 2007Q1–2020Q4.

Findings

The major results reveal the positive impacts of issued green bonds and regulatory quality index on energy efficiency, while any increase in inflation rate and urbanization decelerates the progress of raising energy efficiency.

Practical implications

As highlighted concluding remarks and policy implications, it can be expressed that the tool of green bond is a potential policy to drive-up energy efficiency financing and enhancing environmental quality during and post-COVID period. It is recommended to follow green bond policy with an efficient regulation framework and urbanization saving energy planning.

Originality/value

To the best of the authors' knowledge, although a few scholars have investigated the impacts of COVID-19 on green financing or examined the energy efficiency financing, the matter of modeling energy efficiency–green bond relationship has not been addressed by any academic study. The contributions of this paper to the existing literature are: (1) it is the first academic study to discover the relationship between energy efficiency and green bond in OECD countries, (2) since our empirical part provides estimation results based on quarterly data covering the year of 2019 and 2020, it may offer some new policy implications to enhance energy efficiency financing in and post-COVID period, (3) furthermore, we consider energy efficiency indicator (mix of industrial, residential, services and transport energy efficiency) as the dependent variable instead of using the simple energy intensity variable as a proxy for energy efficiency.

Details

China Finance Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1398

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Article
Publication date: 6 February 2017

Ehsan Rasoulinezhad

The purpose of this paper is to analyze specifications of the China’s foreign trade policy with Organization of the Petroleum Exporting Countries (OPEC) member countries.

Abstract

Purpose

The purpose of this paper is to analyze specifications of the China’s foreign trade policy with Organization of the Petroleum Exporting Countries (OPEC) member countries.

Design/methodology/approach

The paper conducts three panel data estimations (fixed effect [FE], random effect [RE] and fully modified ordinary least squares [FMOLS]) based on the gravity model approach for bilateral trade patterns in natural resource and non-natural resource commodities between China and 13 OPEC members over the period of 1998-2014.

Findings

The findings reveal that the gravity equation fits the data reasonably well. The existence of long-term relationships between the bilateral trade flows and the main components of gravity model – GDP, income (GDP per capita), the difference in income, exchange rate, the openness level, distance and WTO membership – through the FE, RE and the FMOLS approaches was confirmed. The estimation results show that the trade pattern between China and OPEC member countries relies on the Heckscher–Ohlin theory, thus being explained by difference in factor endowments such as energy resources and technology.

Originality/value

To the best of the authors’ knowledge, this is the first attempt to examine the China’s foreign trade policy with the OPEC member countries through a gravity trade approach.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 10 no. 1
Type: Research Article
ISSN: 1754-4408

Keywords

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Article
Publication date: 11 September 2017

Mohammad Nasre Esfahani and Ehsan Rasoulinezhad

The purpose of this paper is to find out whether under sanctions, Iran’s trade direction has shifted from Europe (trade policy of de-Europeanization) toward Asia (trade…

Abstract

Purpose

The purpose of this paper is to find out whether under sanctions, Iran’s trade direction has shifted from Europe (trade policy of de-Europeanization) toward Asia (trade policy of Asianization).

Design/methodology/approach

The paper conducts three panel data estimations (FE, RE, and FMOLS) based on the gravity model approach for bilateral trade patterns between Iran-25 EU members and Iran-25 Asian countries over the period 2006-2013.

Findings

The empirical evidence indicates a significant negative effect of sanctions on Iran-EU bilateral trade, while it has a positive impact on trade between Iran and the Asian countries. These findings empirically confirmed that the imposition of various sanctions related to the Iran’s nuclear program has pushed the foreign trade policy of this country toward Asianization and away from Europeanization.

Originality/value

To the best of the authors’ knowledge, this paper is the first attempt to examine the Iran’s trade policy changing under the imposition of sanctions related to its nuclear program.

Details

Journal of Economic Studies, vol. 44 no. 4
Type: Research Article
ISSN: 0144-3585

Keywords

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