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Article
Publication date: 10 September 2018

Yongqi Feng and Tianshu Zhang

The purpose of this paper is to provide a better understanding of the driving forces and structural changes of China as a market provider for Korea. This paper gives the…

Abstract

Purpose

The purpose of this paper is to provide a better understanding of the driving forces and structural changes of China as a market provider for Korea. This paper gives the answers for the following questions: How do China’s final demands trigger the growth of its imports from Korea? And what’s the impact of China’s final demands on the import in different industries?

Design/methodology/approach

Based on the Multi-Regional Input-Output model and World Input-Output Table database, this paper constructs the non-competitive imports input-output (IO) table of China to Korea. According to this table, we can calculate the induced imports coefficient and comprehensive induced import coefficients of China’s four final demands for imports from Korea in the 56 industries in China.

Findings

Among the four driving forces, the strongest one is changes in inventories and valuables. The impact of final consumption expenditure and fixed capital formation is much lower than that of changes in inventories and valuables, but they have a broader impact for the 56 industries. This paper finds out the China’s import induction of the final demands to Korea peaked in 2005 and 2010 and decreased greatly in 2014, so the position of China as market provider for Korea will no longer rise substantially, contrarily it will be in a steady state.

Originality/value

First, this paper constructs the non-competitive IO table to analyze the market provider issues between two countries and provides practical ways and methods for studies on the issues of imports and market provider. Second, this paper investigates the different roles of four final demands on driving force of China as market provider for Korea and the structural changes of China as a market provider for Korea among 56 industries from 2000 to 2014.

Details

Journal of Korea Trade, vol. 22 no. 3
Type: Research Article
ISSN: 1229-828X

Keywords

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Article
Publication date: 1 May 1985

Ciaran Driver, Andrew Kilpatrick and Barry Naisbitt

This article uses a 22‐industry breakdown of the UK manufacturing sector to examine the effects on employment of various changes in the structure, but not the overall…

Abstract

This article uses a 22‐industry breakdown of the UK manufacturing sector to examine the effects on employment of various changes in the structure, but not the overall level, of exports, imports, and trade balances within an input‐output framework. The analyses reported relate to greater specialisation in trade, faster structural adjustment and import substitution. The results show both the industrial pattern and overall net effect of employment changes and the distinction is made between the direct employment consequences of changes in the trade balances of the industries concerned and induced employment changes via derived demands for intermediate inputs.

Details

Journal of Economic Studies, vol. 12 no. 5
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 1 February 1978

M.Y. ZAKI

The purpose of this paper is to present estimates of the maximum potential import leakage effect (decrease in the multipliers) as a result of the U.K.'s joining the E.E.C…

Abstract

The purpose of this paper is to present estimates of the maximum potential import leakage effect (decrease in the multipliers) as a result of the U.K.'s joining the E.E.C. The 1970 U.K. input‐output model was used. As a first step the domestic input coefficient matrix was adjusted for changes in the relative price of domestic inputs under the assumption that all import duties on competitive imports from the E.E.C. were eliminated. Considerable variation in the ranking of each endogenous sector according to its leakage coefficient for output, income, and employment was found.

Details

Journal of Economic Studies, vol. 5 no. 2
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 1 February 1987

James Love

The issue of export instability exerts an enduring fascination for economists with an interest in the area of economic development. Over several decades a voluminous…

Abstract

The issue of export instability exerts an enduring fascination for economists with an interest in the area of economic development. Over several decades a voluminous literature has emerged embracing debates on the domestic consequences and on the causes of export instability. The purpose here is to examine these debates and an attempt is made to set out different theoretical stances, to classify and examine empirical findings, and to indicate the directions in which the debates have moved. Such a statement of a review article's purpose is, of course, incomplete without more specific delineation of the boundaries within which the general objectives are pursued. Here that delineation has three facets.

Details

Journal of Economic Studies, vol. 14 no. 2
Type: Research Article
ISSN: 0144-3585

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Book part
Publication date: 1 January 2001

Peter B. Dixon and Maureen T. Rimmer

Abstract

Details

Dynamic General Equilibrium Modelling for Forecasting and Policy: A Practical Guide and Documentation of MONASH
Type: Book
ISBN: 978-0-44451-260-4

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Article
Publication date: 13 June 2016

Zerayehu Sime Eshete and Peter Kiko Kimuyu

The Ethiopian economy is characterized by erratic and poor performance with negative growth rates, seven times over the period 1981-2010. This trapped per capita income at…

Abstract

Purpose

The Ethiopian economy is characterized by erratic and poor performance with negative growth rates, seven times over the period 1981-2010. This trapped per capita income at 358 USD in 2010 staying far away from middle-income country status. A lot of unsolved debates regarding perpetual growth, structural change and sectoral allocation of resource emerged overtime. The purpose of this paper is to examine the alternative effects of induced sectoral total factor productivity and makes comparisons of various sectoral growth options.

Design/methodology/approach

This study uses a recursive dynamic computable general equilibrium model based on neoclassical-structuralist thought. It also calibrates coefficients that capture the impacts of openness, imported capital and liberalization on sectoral total factor productivity growth using a model of vector auto-regressive with exogenous variables.

Findings

Future economic growth rate is expected to grow at a declining trend and to be dominated by the service sector. If it keeps growing on the current path it will expose the economy to a severe structural change burden problem. Openness induced agricultural total factor productivity highly improves the welfare of households while imported capital goods induced industrial total factor productivity is also better in fostering structural change of the economy. The broad-based growth option that combines the induced total factor productivity of all sectors also enables the economy to achieve more sustainable growth, rapid structural change and welfare gain at the same time.

Originality/value

There are intensive and charged debates regarding alternative sectoral growth options. However, the debate does not derive from a rigorous analysis and holistic economy-wide approach. It is rather affiliated with politics. Therefore, the paper is original and investigates these issues meticulously.

Details

African Journal of Economic and Management Studies, vol. 7 no. 2
Type: Research Article
ISSN: 2040-0705

Keywords

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Article
Publication date: 17 May 2011

Jacqueline Agesa, Richard U. Agesa and Carlos Lopes

The purpose of this paper is to extend recent literature regarding the effects of competition on racial earnings by examining the effects of global competition on racial…

Abstract

Purpose

The purpose of this paper is to extend recent literature regarding the effects of competition on racial earnings by examining the effects of global competition on racial wages of union and non‐union workers of different skill levels. Additionally, it is intended that inference be drawn regarding whether global competition is a viable means to eliminate racial wage discrimination.

Design/methodology/approach

This paper utilizes quantile regression to examine the effect of global competition on the racial wage gap of workers in high‐ and low‐concentration industries at different points along the earnings distribution. Additionally, the analysis utilizes the highest level of import penetration in each industry over the sample period to examine whether global competition is a viable means to eliminate racial wage discrimination.

Findings

In concentrated industries, non‐union whites at most skill levels receive a substantial wage premium compared with their black counterparts. Further, imports reduce racial earnings inequality by significantly decreasing the wages of low‐ and medium‐skill non‐union whites. However, imports cannot mitigate racial earnings discrimination for non‐union workers at most skill levels.

Practical implications

These findings suggest that, if market forces cannot alleviate racial wage discrimination, government anti‐discriminatory policies may be a necessary measure.

Originality/value

No previous study has examined the effect of global competition on the racial wage gap of workers of different skill levels. Further, no study has empirically tested whether international competition is a viable means to eliminate racial wage discrimination.

Details

Journal of Economic Studies, vol. 38 no. 2
Type: Research Article
ISSN: 0144-3585

Keywords

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Article
Publication date: 1 December 2005

Nicholas P. Glytsos

The aim of this paper is to investigate the impact of exogenous shocks of remittances on consumption, investment, imports and output in five Mediterranean countries.

Abstract

Purpose

The aim of this paper is to investigate the impact of exogenous shocks of remittances on consumption, investment, imports and output in five Mediterranean countries.

Design/methodology/approach

This paper builds a Keynesian type econometric model with a dynamic perspective and a sound theoretical basis. The model is used for estimating short and long‐run multipliers of remittances, through which the impact of remittances on growth and other key macroeconomic variables is estimated.

Findings

The analysis reveals a uniform country performance of instability and uncertainty, with great temporal and inter‐country fluctuations of remittance effects. The findings point to different inter‐country priorities of remittance spending and to an asymmetric impact of remittance changes, in the sense that the good done to growth by rising remittances is not as great as the harm done by falling remittances.

Research limitations/implications

In this paper the purpose is to examine the demand side impact of remittances and uses remittances as an exogenous variable in the model. A more comprehensive approach would probably be to consider jointly supply side elements and handle remittances as an endogenous variable to estimate feedbacks.

Practical implications

The impacting shock of an increase or a drop of remittances is found not to be instantaneous, but is distributed over time smoothing out its effects on growth. This gives time for relevant policies to be adopted in case of emergencies in the remittance flows. The findings show that economies are weakly sheltered against the damaging impact of falling remittances. Consequently, countries with high remittances should be seriously taking them into consideration as a major pillar in planning a strategy for an overall development. Policy makers may carefully consider remittance induced imports, not necessarily to reduce them and turn them to domestic production, which may be inflationary, but to reshuffle them towards imports of investment goods.

Originality/value

The value of this paper and its novelty is first, its methodological approach to build a new econometric model, based on a sound theoretical basis, for estimating the dynamic impact of remittances simultaneously on key macroeconomic variables; and second, the capability of the model to pinpoint similarities and divergences of remittance effects across countries and over time.

Details

Journal of Economic Studies, vol. 32 no. 6
Type: Research Article
ISSN: 0144-3585

Keywords

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Article
Publication date: 26 September 2008

Kunal Sen

There has been a period of slow but a steady increase in wage inequality in the Indian manufacturing sector since the mid‐1980s, which has gone hand‐in‐hand with an…

Abstract

Purpose

There has been a period of slow but a steady increase in wage inequality in the Indian manufacturing sector since the mid‐1980s, which has gone hand‐in‐hand with an increase in the relative employment of skilled workers across all industries in the same period. The purpose of this paper is to investigate whether the co‐movement of relative employment and wages of skilled workers can be attributed to the changes in trade policy that has occurred in the Indian economy since the mid‐1980s.

Design/methodology/approach

The two dominant theoretical perspectives on why trade reforms lay lead to wage inequality are Heckscher–Ohlin theory and trade‐induced skill‐biased technological change (SBTC). The paper evaluates the applicability of these theoretical perspectives to the Indian case using disaggregated industry data from Annual Survey of Industries from 1973 to 1997.

Findings

Evidence was found of the validity of both the two dominant theoretical perspectives on wage inequality to explain the co‐movement in wage inequality and relative skill intensity in Indian manufacturing, with both variables increasing in the 1990s. Trade‐induced technological progress has led to an increase in relative skill intensity and wage inequality within industries. At the same time, the decline in protection that seems to have occurred more in unskilled labour‐intensive industries has led to a relative fall in the economy‐wide return to unskilled labour relative to skilled labour. Therefore, trade reforms have led to a widening of wage gap between skilled and unskilled workers, and an increase in relative skill intensity in Indian manufacturing.

Originality/value

The paper contributes to support of the trade‐induced SBTC hypothesis which may provide a consistent explanation of why many countries in the south experienced increases in wage inequality with the onset of trade liberalisation.

Details

Indian Growth and Development Review, vol. 1 no. 2
Type: Research Article
ISSN: 1753-8254

Keywords

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Abstract

Details

Dynamic General Equilibrium Modelling for Forecasting and Policy: A Practical Guide and Documentation of MONASH
Type: Book
ISBN: 978-0-44451-260-4

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