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A general equilibrium model for mainland China′s open economy is formulated and used to examine the effect of stabilisation policy on the internal and external balances. An expansionary monetary or fiscal policy in particular through its effect on consumption and labour supply raises aggregate supply. However, the effect on the external balance is ambiguous. The issue of trade‐offs between internal and external balances does arise; if the effect on production is greater than that on consumption, the trade balance will not be ameliorated.

This paper aims, first, to advance the current understanding about the impact of innovation in non-traditional exports, and, second, to provide insights about the structure of emergent economies often not regarded by traditional innovation and export theories.

A longitudinal analysis using panel data based on Box Jenkins’ theory was conducted, so to identify statistically significant variables on export performance, regarding expenditure on research, development and innovation (R&D + I) activities, ICT and specialized training and formation.

This study suggests the need to design public policies aimed at stimulating innovation in potential export sectors, as a mechanism for competitive development and growth in emergent economies such as Colombia.

The introduction of innovations in goods and services exports has become more important in economies, such as the Colombian ones, where globalization openness processes force to establish minimum competitiveness levels regarding the international standards.

This theoretical paper aims to illustrate that tourism economies differ substantially with respect to market conditions, such as demand elasticity and industrial structure, which have a clear effect on the distribution of the tax burden.

This paper has used partial and general equilibrium frameworks to study the effects of a production tax on the overall welfare of a tourism economy. The two frameworks are linked via the relative price of tourism based on the assumption that it is influenced by a typical tourism economy that is able to enjoy a certain degree of market power in its tourism exports.

We have discovered that the division of the tax burden is significantly affected by local market conditions, such as demand elasticity and industrial structure. Generally, tourism economies differ with respect to those characteristics, which can be crucial in determining the success of a tourism tax. This line of research has enabled us to determine why different tourism tax rates have been adopted in various markets and to provide a justification for government selection of a particular tax in a given market. The rational criterion for tax choices is to maximize the likelihood of enhancing welfare or to minimize the risk of reducing efficiency.

This paper argues that those conditions are crucial to determining the success or failure of a tourism tax and may thus be able to explain why each tourism economy has adopted a different tax.

The coming world struggle for food will be closely interwoven with inflation, with naked political power, with oil, with horrifying, excruciating choices for America, with basic challenges for science, with changing weather systems, and with desperately needed capital formation. Its outcome is not clear, yet the future economic and political power of North America, and, in the longer run, the survival of mankind, are tied up in it. At its root is population growth.

“The year covered by the report starts in July, 1945, and ends in September, 1946. During this time the Council has had many complicated administrative tasks to perform because the period is the first almost complete year covering the change‐over from war to peace. In July of last year the ice cream trade was in the middle of one of the most phenomenal sets of conditions in the whole of its varied existence. It will be remembered that 60 per cent. of the pre‐war usage of sugar and an allocation of shimmed milk powder was still available to the trade, but the quantities were relatively small compared with the enormous public demand for our product, and the ice cream trade had begun to attract the attention of unscrupulous speculators. Every effort was made by the Ministry of Food, who alone had the power to exert any regulation whatever, to prevent unauthorised persons from entering the trade. These efforts were not always successful, but the Association took whatever steps lay in its power to assist the Ministry to prevent firms who had never been in the trade before starling the manufacture and the sale of ice cream, to the detriment of the established trader who had been doing his very best against almost overwhelming obstacles. The loose interpretation of the right of a caterer to make and sell ice cream was for a long time a most difficult problem, but during the year the Ministry of Food Executive Officers have managed to curtail a great many of the unauthorised sales of ice cream which were taking place at points far distant from the caterer's premises when the product had been made with materials obtained under a catering licence. In many of the large cities this type of trade brought the whole industry into disrepute because various forms of ice cream were being sold to the public at fantastically high prices. The whole problem of the manufacture of ice cream has been the subject of discussions by the members of the Technical Advisory Committee, mainly on the subject of proposed standards of quality and bacteriological purity. The Executive Council is indebted to the painstaking efforts of the members of this Committee for their careful researches and many long discussions. The work undertaken by the Ministry of Food and the knowledge it has gained in dietetic values during the years of war‐time feeding of the British population has been considered very carefully and the point of view of what constitutes the maximum nutrition in ice cream has altered from the pre‐war knowledge of rating the value of ice cream in accordance with the highest possible milk fats content. Professor Sir Jack Drummond, when he was the Nutritional Officer to the Ministry of Food, emphasised the need in the everyday diet of both children and adults, of the maximum amount of milk minerals and milk solids not fat. In normal times when ingredients are in free supply there is no difficulty with either children or grown‐ups in obtaining plentiful supplies of fat, but almost all of the value of the milk solids not fat has been forgotten or else brought into disrepute following the laws which were passed many years ago compelling tins of condensed skimmed milk to be marked ‘Unfit for Babies.’ The Technical Committee, taking all of these facts into consideration, has evolved a standard which has been agreed by the Executive Council and submitted to the Ministry of Food, designed to give the best type of ice cream, planned in such a way that the maximum amount of milk‐solids‐not‐fat can be included. This skimmed milk powder can be incorporated into the mix and still keep a reasonable quantity of fat, which in the Committee's opinion should consist only of milk fat. After the most careful research and discussions, having in mind the interest of the small trader who cannot install very elaborate machinery, it was agreed by the Committee that, when fresh dairy cream becomes available again, a minimum standard of milk fat in ice cream should be arranged to include the use of both fresh dairy milk and cream as well as enough skimmed milk powder to bring the total to a correct balance of ingredients which would freeze in the average type of freezer without becoming sandy or crystallised. There was a good deal of experience on which the Committee could base its findings, obtained from the use of the standards put into force by the Government of Northern Ireland before the war; these were not fully balanced and required some adjustment. Negotiations on the question of the standard between Ice Cream Alliance and the Wholesale Ice Cream Manufacturers' Federation were conducted at great length and the different points of view were examined with the utmost care. It has been found, however, that the proposals by the different Associations cannot be reconciled to form one standard common to the best interest of the members of both Associations. The Ice Cream Alliance has been safeguarding the welfare of the general public and thereby the future trade of its members, and it has insisted that the minimum standards which its Technical Committee has recommended should not be varied in principle to comply with the somewhat wider interpretation of the Wholesale Federation. One point upon which the Technical Committee lays great stress is that the tests for the standard should always be conducted by sampling the finished ice cream as delivered to the consumer, and not the ice cream mix as made in the factory. This would place definite limitations on the amount of over‐run which could be permitted and would prevent any ice cream manufacturer, regardless of his type of machinery, from giving a smaller quantity of fat or milk solids to the consumer, than his competitor who might have less elaborate and expensive machinery. It has, of course, been made clear that all questions relating to a standard for ice cream refer not to the present period of emergency, with its substitute ingredients, but to the time when all ingredients can be purchased free of any restriction by every ice cream manufacturer. There is no doubt that if it were possible to evolve a standard of substitute ingredients it would be of the greatest advantage to the trade, but this cannot be done until the right ingredients, namely skimmed milk powder, fat and sugar are made available to every member of the trade in equal proportions. Your Executive Council has approached the Minister of Food on various occasions seeking an interview to put these points before him and to emphasise the need for better and more consistent supplies of the right types of materials so that ice cream can be made worthy of its name by all manufacturers. It is also anxious to remove the difference in the allocations as between the larger manufacturer who receives 70 per cent. of his datum usage of fat and the ice cream trader who made his product in pre‐war days only from fresh milk, and who is now prohibited from making an ice cream for consumption with more than about 2¼ per cent. fat. The serious world position and shortage of food materials has, of course, worked against this project, and until there is some easing of the supply of raw materials for better distribution within the world as a whole, the British Government has found it is unable to provide supplies of the right ingredients. Your Chairman and Executive Council are, however, using every effort to bring about the desirable situation as quickly as possible. In recent months there had been major disasters to the trade which had been caused by the outbreak of typhoid fever conveyed through carriers of this disease to members of the general public through the medium of ice cream. These outbreaks have led to a tremendous amount of wrongful reporting in the daily Press and the many quite unjustified allegations against both the ice cream traders and the Local Government officials, particularly the Sanitary Inspectors and Medical Officers of Health, who are responsible for the interpretation of the 1938 Food and Drugs Act controlling the registration of ice cream manufacturing premises, and who have worked very hard to help both the trade and the public. It must be agreed that many ice cream manufacturers have been working without very much knowledge of the responsibilities of their trade and under enormous handicaps, due to the dilapidations caused by six years of war and their inability to have building work and decorations carried out to make their small factories suitable for the manufacture of ice cream. These years of war have also led to a much greater wear and tear on ice cream plant than would normally have been the case, because the trade has had to put up with flour instead of skimmed milk powder even before it was shut down in 1942. Deterioration and rust during the shut down period from September, 1942, until December, 1944, was even greater than if the plant had been in constant use even with substitute materials. The result has been that many ice cream traders have been faced with enormous difficulties of plant renewals at a time when machinery is unobtainable, with the result that unhygienic vessels and utensils have had to be kept in service, which in the ordinary way would have been scrapped many years ago. The Alliance is taking every step possible with the other Associations that manufacture plant equipment and utensils, to improve supplies to those who need the articles, but here again supplies of raw materials to the machinery equipment manufacturers are growing worse and worse. It is because of this situation that in the negotiations with the Ministry of Health regarding the compulsory heat treatment programme the greatest latitude is being requested so that no regulations would be brought into force until the trade is in a position to comply with them without undue hardship. We would like to record our appreciation to the other Associations who have expressed their willingness to collaborate with us for the good of the trade as a whole.”

This study aims at evaluating the effect of the COVID-19 pandemic on the export trade system for Mauritius during the first half of 2020 (January 2020–June 2020).

An initial analysis of the monthly export time series data proves that on the whole, the series have diverged from their actual trends after the outbreak of the COVID-19 pandemic: observed values are less than those predicted by the selected optimal forecast models. The authors subsequently employ the Bayesian structural time series (BSTS) framework for causal analysis to estimate the impact of the COVID-19 pandemic on the island's export system.

Overall, the findings show that the COVID-19 pandemic has a statistically significant and negative impact on the Mauritian export trade system, with the five main export trading partners and sectors the most affected. Despite that the impact in some cases is not apparent for the period of study, the results indicate that total exports will surely be affected by the pandemic in the long run. Nevertheless, this depends on the measures taken both locally and globally to mitigate the spread of the pandemic.

This study thus contributes to the growing literature on the economic impacts of the COVID-19 pandemic by focussing on a small island economy.

The purpose of this paper is to boost the internationalization of companies by implementing key factors that will help them to increase their exports in a context of an emerging country such as Mexico, where very few small- and medium-sized enterprises (SMEs) achieve internationalization.

According to different theories on the internationalization of companies, five independent variables were designed to measure their effect on the export performance using a multiple regression model on a sample of 95 Mexican industrial SMEs. In this context, the objective of this study is to investigate the impact of the product price, product quality, installed capacity, innovation capacity and financial capacity on the export performance of SMEs; and to identify the factors that are more significant.

The results indicate that innovation has a positive relationship, while the price of the product has a negative relationship with the internationalization of small- and medium-sized enterprises, showing that there is a possibility of overemphasizing the role of both variables in export performance of SMEs, at least in the Mexican context. The rest of the variables were not statistically significant to the generated model, perhaps because they are implicitly considered at the time of exporting and entering international markets.

These results will help companies to focus their efforts on obtaining resources to maintain and expand exports and find new opportunities in foreign markets to grow. They also show that companies can implement different types of internationalization strategies with the study’s variables to achieve better performance.

El objetivo de este estudio es impulsar la internacionalización de las empresas mediante la implementación de factores clave que les ayudarán a incrementar sus exportaciones en un contexto de países emergentes como México, donde muy pocas pequeñas y medianas empresas logran la internacionalización.

Según las diferentes teorías sobre la internacionalización de las empresas, cinco variables independientes fueron diseñadas para medir su efecto en el desempeño de las exportaciones, utilizando un modelo de regresión múltiple en una muestra de 95 pequeñas y medianas empresas industriales mexicanas. En este contexto, el objetivo de este estudio es investigar el impacto del precio del producto, la calidad del producto, la capacidad instalada, la capacidad de innovación y la capacidad financiera en el desempeño exportador de las PYME, e identificar los factores que son más relevantes.

Los resultados indican que la innovación tiene una relación positiva, mientras que el precio del producto tiene una relación negativa con la internacionalización de las pequeñas y medianas empresas, lo que demuestra que existe la posibilidad de sobre-enfatizar el papel de ambas variables en el desempeño exportador de las pequeñas y medianas empresas, al menos en el contexto mexicano. El resto de las variables no resultaron estadísticamente significativas para el modelo generado, tal vez porque están consideradas de forma implícita al momento de exportar e ingresar a los mercados internacionales.

Estos resultados ayudarán a las empresas a concentrar sus esfuerzos en obtener recursos para mantener y expandir las exportaciones y encontrar nuevas oportunidades en los mercados extranjeros para el crecimiento. También demuestran que las empresas pueden implementar diferentes tipos de estrategias de internacionalización con las variables de estudio para lograr un mejor desempeño.

Economic integration is an agreement among countries in a geographical region or unification of economic policies between different states aiming to reduce and ultimately remove tariff and non-tariff barriers on trade. The fruit of globalization is the tremendous rise of economic integration as globalization loosens barriers among the nations through reduction in cross-border duties and eases trade policies. Trumponomics is defined as the economic policies of US President Donald Trump that prefers high import tariff to bring “America First.” There is a debate among the researchers about the choice between free trade and protection or imposition of tariff. Some of them prefer free trade because during the start of the great depression, the world economy experienced a huge shift toward protectionism. Choice between no-tariff and tariff represents a prisoner’s dilemma situation whereby each player’s best response is to employ tariffs. This results in a sub-optimal outcome for all where the total volume of world trade falls, which is a Nash solution. The present chapter deals with theoretical discussions on trade war and throws light on the developing country’s choice between non-protectionism supported by globalization and Trump’s protectionism.

The purpose of this chapter is to study the American practice of implementing the model of information economy as an example to the leading countries of the American region of the global economic system and to compile a conceptual model of formation and development of information economy in modern America.

For provision of compatibility of data on different regions of the global economic system, the research is performed on the basis of the previously used methodology and information platform. The values of the indicators of technosphere, sociosphere, economic sphere, and target result in information economy’s formation in American countries and are compared to determine their variation from direct average; subsequently, they are compared with the global values for evaluation of percentage deviations. The research concerns countries such as USA, which is a leader in the American region with regard to the global economic system, Canada, which is the country closest to the level of economic development by the region’s leader, and Brazil, which is the foremost leading country among the developing countries of the American region. The data from 2017 is used in the study.

The authors conclude that the US economy is not a deviant economic system but a true leader of the American region with regard to the the global economic system. That is, the USA shows higher level and rate of information economy’s formation, but applied that for the same conceptual model as other countries of the American region. The most vivid uniqueness of the American model of establishment and development of information economy is the stage-by-stage character of the noosphere pyramid, which is manifested by vivid reduction of the area of its structural elements, the most massive of which is technosphere, which corresponds to the indicators that are standard for the leading countries of the world.

The offered conceptual model is recommended for studying the formation of information economy in the America region and compare this process in other regions of the world.