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1 – 10 of 39Gour Gobinda Goswami, Farhan Khan, Kazi Labiba, Farhanaj Achol, Tapas Kumar Saha and Aunanna Zulfikar
The scope of this work is to explore whether Regional Comprehensive Economic Partnership (RCEP) would be beneficial to Bangladesh, given Bangladesh's strong ties with India and…
Abstract
Purpose
The scope of this work is to explore whether Regional Comprehensive Economic Partnership (RCEP) would be beneficial to Bangladesh, given Bangladesh's strong ties with India and the west.
Design/methodology/approach
Using extended gravity equation and data from Head and Mayer (2021) and the Direction of Trade Statistic (IMF, 2021) for Bangladesh with its applicable partner countries from 1972 till 2019, the authors attempted to examine the potential impact of joining RCEP while keeping its relationship with South Asian Association for Regional Cooperation (SAARC), and other existing economic integration schemes intact.
Findings
Using traditional pooled ordinary least squares, two-stage least square and generalized method of moment techniques, it has been revealed that conventional partners in the South led by India are still beneficial to Bangladeshs trading line. Joining RCEP provides ample avenues for trade expansion without replacing the positive effects of SAARC.
Practical implications
Traditional partners from European, American and South Asian trading opportunities are still paying enough dividends to Bangladesh. RCEP is providing a trade-enhancing chance for Bangladesh in the eastern direction. This paper provides a policy suggestion to look east policy of government. A total overhaul of her tax structure through minimizing excessive reliance on import tariff revenue is desired to facilitate her to join RCEP in the future because most of its prospective RCEP partners are import partners.
Originality/value
This is the first and the only study which explores the feasibility of Bangladesh to join the RCEP by using the most recently updated gravity data in a panel framework.
Highlights
Since its inception on November 15, 2020, Regional Comprehensive Economic Partnership (RCEP) has emerged as one of the largest economic integration areas in the world.
As a borderline country between South Asia and RCEP, Bangladesh is in a fix to take a decision either to join or not to join RCEP if they are invited.
This paper used the gravity equation in an extended form by taking Bangladesh with its 197 trading partners’ trade data for 1972–2019.
The findings postulate that the existing relationship with SAARC countries is still beneficial to its welfare, and RCEP is also economically helpful in enhancing its trade.
Since its inception on November 15, 2020, Regional Comprehensive Economic Partnership (RCEP) has emerged as one of the largest economic integration areas in the world.
As a borderline country between South Asia and RCEP, Bangladesh is in a fix to take a decision either to join or not to join RCEP if they are invited.
This paper used the gravity equation in an extended form by taking Bangladesh with its 197 trading partners’ trade data for 1972–2019.
The findings postulate that the existing relationship with SAARC countries is still beneficial to its welfare, and RCEP is also economically helpful in enhancing its trade.
Details
Keywords
The regional comprehensive economic partnership (RCEP) is promising as per the claims and can be revolutionary for the Asia–Pacific Region. The member countries will get a boost…
Abstract
Purpose
The regional comprehensive economic partnership (RCEP) is promising as per the claims and can be revolutionary for the Asia–Pacific Region. The member countries will get a boost in the post-pandemic world due to the RCEP. According to Brookings, the RCEP is going to be an agreement reshaping the global economics. This study aims to clarify the aspects related to the RCEP and how it can boost global economics.
Design/methodology/approach
The study employs qualitative descriptive analysis to address the status of RCEP in the region and the consequences of such main transnational partnership. The study is based on economic reports, official documents and data directly related to the subject of the study.
Findings
Findings show that the RCEP will be a significant driver of regional trade despite its faults. The RCEP's tariff benefits and rules of origin, notwithstanding their relatively restricted scope, will encourage enterprises to source products and services from RCEP members, and in combination, RCEP and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are anticipated to replace at least some competing US commodities, services and farm exports. For items that integrate parts and components from inside the area, such as from China, the RCEP is projected to reduce tax and trade facilitation costs, allowing enterprises to avoid US Section 301 tariffs.
Originality/value
By examining how the RCEP operates within the framework of domestic and international trade, this study contributes to a deeper understanding of RCEP and analyses its nature based on data and official reports.
Details
Keywords
Vishnu Nambiar, Gayatri Kunte and Varadurga Bhat
Several countries, such as South Africa and India, believe that intellectual property rights (IPRs), including patents, impede the efficient increase in vaccine production to…
Abstract
Purpose
Several countries, such as South Africa and India, believe that intellectual property rights (IPRs), including patents, impede the efficient increase in vaccine production to inoculate the global population as they scramble to recover from the COVID-19 pandemic. Their proposal at the World Trade Organization (WTO) to waive these pharmaceutical patents has been met with resistance from a few developed countries, who believe that the abrogation of IPRs is unnecessary, even during a pandemic. The purpose of this paper is to discuss the impact of a potential waiver of medical patents at the WTO versus the status quo of IPR laws in the global economy.
Design/methodology/approach
This study examines key arguments from economic and moral standpoints regarding the provisions of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement and other related international agreements and their validity based on the premise of the internalisation of positive externalities posed by vaccines.
Findings
The effectiveness of the TRIPS agreement in securing medical access is weak on account of the ability of profit-making multinationals to secure IP rights and on account of the Trans-Pacific Partnership, a multilateral agreement that supports patent evergreening and a period of protection on test data which challenges the access to medicines and the fundamental human right to health.
Originality/value
This study examines international IPRs through the lens of human rights and proposes a new system that balances the two.
Details
Keywords
Although it does not have the force of law, the IPEF Supply Chain Agreement, along with the associated IPEF Critical Minerals Dialogue, is expected to strengthen chains of…
Details
DOI: 10.1108/OXAN-DB285616
ISSN: 2633-304X
Keywords
Geographic
Topical
Besides a leaders’ plenary and retreat, there were events linked to four thematic tracks: business; climate and clean energy; maritime cooperation; and emerging leaders…
Details
DOI: 10.1108/OXAN-DB285789
ISSN: 2633-304X
Keywords
Geographic
Topical
Md Rokibul Hasan, Ishtehar Sharif Swazan and Debanjan Das
This study aims to examine the export competitiveness of Vietnam’s apparel sector by identifying the precise product categories that create its comparative advantage.
Abstract
Purpose
This study aims to examine the export competitiveness of Vietnam’s apparel sector by identifying the precise product categories that create its comparative advantage.
Design/methodology/approach
Revealed comparative advantage (RCA) and normalized revealed comparative advantage (NRCA) form the research methodology, and the RCA/NRCA values are calculated for the 2011–2020 period.
Findings
In total, 29 out of 34 product categories at four-digit levels and 65 out of 217 subcategories at six-digit levels elicited a consistent export comparative advantage throughout the 10-year study timeframe. The study also identified 13 subcategories at six-digit levels, which indicated 10 consecutive years of relative disadvantages.
Research limitations/implications
The study’s findings have far-reaching implications for economic policy, development strategies and global economic integration. By providing a nuanced understanding of a country’s export strengths in the international apparel trade, this study offers valuable guidance for informed decision-making at various levels. The findings will serve as a significant source of information for policymakers and help them formulate novel policies aiming to diversify Vietnam’s apparel product offerings and export destinations. The results will also inform the government regarding the industry’s potential and attract necessary support, enabling it to grow further. This study reveals patterns in Vietnam’s apparel trade but does not provide insights into the underlying causes of comparative advantage.
Originality/value
The study provides an in-depth overview of Vietnam’s comparative advantages and disadvantages at two-, four- and six-digit harmonized system levels and helps understand Vietnam’s apparel export competitiveness.
Details
Keywords
Biden is primarily concerned about a loss of jobs in states crucial to his re-election, bid but the reference to national security, more usually associated with concerns about…
Details
DOI: 10.1108/OXAN-DB284202
ISSN: 2633-304X
Keywords
Geographic
Topical
Billy Melo Araujo and Dylan Wilkinson
The Ireland-Northern Ireland Protocol has been one of the most contentious aspects of the EU-UK post-Brexit trade relationship. By requiring the UK to comply with EU customs and…
Abstract
Purpose
The Ireland-Northern Ireland Protocol has been one of the most contentious aspects of the EU-UK post-Brexit trade relationship. By requiring the UK to comply with EU customs and internal market rules in relation to Northern Ireland (NI), the Protocol has created a hybrid trade regime where NI is subject to multiple, overlapping and often conflicting rules. This paper aims to examine one area in which this hybridity manifests itself. It focusses on the interplay between the Protocol and post-Brexit UK trade agreements. It examines potential areas of conflict between Protocol obligations and obligations derived from UK trade agreements. In doing so, it sheds light on the extent to which compliance with the Protocol may undermine NI’s ability to export and import goods under the preferential terms negotiated under UK trade agreements. It further discusses the consequences of these incompatibilities between the Protocol and these agreements for NI and, more widely, the functioning of the UK internal market as whole.
Design/methodology/approach
Doctrinal legal research
Findings
The paper examines potential areas of conflict between Protocol obligations and obligations derived from UK trade agreements. In doing so, it sheds light on the extent to which compliance with the Protocol may undermine NI’s ability to export and import goods under the preferential terms negotiated under UK trade agreements. It further discusses the consequences of these incompatibilities between the Protocol and these agreements for NI and, more widely, the functioning of the UK internal market as whole.
Originality/value
To the best of the authors’ knowledge this is the first paper carrying out a comprehensive legal analysis of the interaction and potential conflicts between the Protocol on Ireland-Northern Ireland and the UK’s post Brexit trade agreements.
Details
Keywords
Sudipta Das, Md Rokibul Hasan and Debanjan Das
This study aims to measure the competitiveness of top apparel exporting nations competing with China in different apparel product categories across the global environment.
Abstract
Purpose
This study aims to measure the competitiveness of top apparel exporting nations competing with China in different apparel product categories across the global environment.
Design/methodology/approach
Compound annual growth rate, trade competitiveness, market share percentages, revealed comparative advantage and its variant normalized revealed comparative advantage using two-, four- and six-digit harmonized system codes for the period of 2016–2021 were used to understand the comparative advantage of competing apparel exporting nations.
Findings
The findings revealed that China still holds a more decisive comparative advantage than its competitors over the majority of the product categories within the knitted or not knitted apparel and clothing accessories. The other competing nations hold better export competitiveness over China in specific categories. However, that is not sufficient to be the “Next China.”
Research limitations/implications
The study has important implications for different stakeholders of the global apparel industry, such as governments, industry officials, policymakers, investors, researchers and students. The study’s limitations arise from using product categories as competitiveness indicators, notably relying on a macro level approach for measurement while the micro level perspective is not analyzed, which constitutes a significant limitation of the study.
Originality/value
This research thoroughly analyzes the competitive position of the top ten apparel-exporting countries in the global market.
Details
Keywords
Nida Rahman and Krishan Sharma
Regional comprehensive economic partnership (RCEP) is understood as the world's largest trading bloc given its contribution to the world output (30%). The mega trade bloc brings…
Abstract
Purpose
Regional comprehensive economic partnership (RCEP) is understood as the world's largest trading bloc given its contribution to the world output (30%). The mega trade bloc brings together 15 countries of East Asia, Southeast Asia and Oceania to eliminate tariff and non-tariff barriers in goods and services trade. The study suggests the importance of sector specific reforms for Malaysia to strengthen domestic capability.
Design/methodology/approach
The analytical framework constructs upon the partial equilibrium analysis and uses WITS SMART simulations.
Findings
The study finds that Malaysia's elimination of tariffs under the RCEP will cause a surge in imports from developed member countries of RCEP like Australia, South Korea and Japan. The study also finds a trade diversion in countries such as India. The empirical results establishes that RCEP would further strengthen intra-ASEAN trade.
Research limitations/implications
The study explores select sectors of the manufacturing industry in Malaysia.
Practical implications
The implementation of RCEP would impact the manufacturing sector immensely, especially in sectors like electrical machinery and equipment and inorganic chemicals, which are two of the major trading commodities of the Malaysian economy.
Social implications
Any trade agreement has a larger impact on the society. It may raise income, boost the consumer preferences and create or erode consumer welfare. The study reports the consumer welfare effect of the implementation of RCEP in Malaysia.
Originality/value
The study is the first attempt to do a partial equilibrium analysis for the electrical machinery and equipment sector and inorganic chemicals sector of Malaysia using both aggregated and disaggregated data at HS two-digit and HS six-digit level.
Details