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1 – 10 of over 130000The paper aims to study the main trends in the development of international trade in the era of neo-globalization and make forecasting scenarios that reflect the prospects and…
Abstract
The paper aims to study the main trends in the development of international trade in the era of neo-globalization and make forecasting scenarios that reflect the prospects and strategies for building international economic (foreign trade) relations. The author uses trend analysis, regression analysis, and the Monte Carlo method. The author proves that the digital economy determines the prospects for international trade in the era of neo-globalization. The author indicates several trends of international trade in the era of neo-globalization, such as the increase in the freedom of international trade (by 2.16%), the increasing level of globalization of the economy (by 4.11%), and the intensive increase in high-tech exports (by 74.94%). The most possible (28%) scenario for developing international trade is related to the digital partnership. In this scenario, a 25.11% increase in digital competitiveness provides an 8.29% increase in the globalization index and a 21.78% increase in high-tech exports. These indicators are achieved despite the growth of customs barriers by 58.86%. That is, a feature of the era of neo-globalization is the predominance of technological barriers over custom ones to the development of international trade.
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Haemala Thanasegaran and Bala Shanmugam
The purpose of this paper is to highlight the dangers posed by money‐laundering activities undertaken by criminals through the international trade mechanism, from the Malaysian…
Abstract
Purpose
The purpose of this paper is to highlight the dangers posed by money‐laundering activities undertaken by criminals through the international trade mechanism, from the Malaysian perspective.
Design/methodology/approach
This is to be achieved by providing a description of the money‐laundering process in general and, more specifically, the international trade‐based money‐laundering mechanism. This is followed by an account of the development of international trade in Malaysia and related control mechanisms undertaken, so as to highlight the scope available to curb money laundering via the international trade mechanism in Malaysia.
Findings
The research showed two things: first, that the common techniques of laundering money via international trade involve over‐ and under‐invoicing of goods, multiple invoicing of goods, over‐ and under‐shipment of goods, falsely described goods and complex trade approaches; and second, the unfortunate state of affairs pertaining to the lack of data/information available on the existence and workings of such activity in the Malaysian context (which has in part hampered the aims of this paper).
Practical implications
Nevertheless, this paper has the practical implication of being something of a wake‐up call to the Malaysian policymakers (and the policymakers of developing countries), in that awareness of the impending challenges brought about by money laundering to international trade is crucial in tackling the menace.
Originality/value
This paper's call for increasing awareness and identification of international trade‐based money laundering and improving international cooperation and interaction makes it a useful read for policymakers, academics and students alike.
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Economic diplomacy refers to methods and processes by which states take advantage of cross-border economic activities to achieve their national interests. It makes connections…
Abstract
Economic diplomacy refers to methods and processes by which states take advantage of cross-border economic activities to achieve their national interests. It makes connections between the sphere of corporate players, who export or invest abroad, and the sphere of diplomats, who represent the state on the international scene and implement geopolitical decisions. The main purpose of this paper is to provide an overall and coherent framework for asking, classifying and discussing the main issues raised by economic diplomacy. It investigates concepts such as national interest, power and influence. It surveys the relevant literature and deals with various expressions of economic diplomacy such as export promotion agencies, economic role of embassies and consulates, or international economic sanctions. It analyzes the two-way relationship between international economics and international politics, which is at the core of economic diplomacy, and tries to answer the following questions: on the global scene, is diplomacy just accompanying the economy? Is diplomacy driving the economy?
Ted Schwitzner and Chad M. Kahl
International political economy is an emerging yet specialized field that combines political analysis with the study of markets, trade, and development. With the global economy…
Abstract
Purpose
International political economy is an emerging yet specialized field that combines political analysis with the study of markets, trade, and development. With the global economy having an interdependent effect on politics, environment, and society, and with several major economic events of the last 20 years, the authors perceived a need to provide a guide to the sources in this field. This paper seeks to address this issue.
Design/methodology/approach
The authors identified resources using WorldCat and standard reference sources, such as American Library Association's Guide to Reference Books; the annual American Libraries’ “Outstanding Reference Sources” articles; American Reference Books Annual (ARBA) volumes; Booklist's Editor's Choices articles; and Choice's “Outstanding Academic Titles”. Sources were selected from 2000 to the present, concomitant with development of the global economy in the twenty‐first century.
Findings
This guide contains reference works and internet resources that include or provide access to primary source documentation and statistical studies and tables, as well as handbooks, guides, encyclopedias and dictionaries that place the field in context.
Research limitations/implications
Given the interdisciplinary nature of the field, focus was placed on sources that emphasize the core focus of international political economy. Related fields of study, including globalization, development, environmentalism and social movements, were largely excluded.
Originality/value
The authors found no other comprehensive bibliographies containing reference, primary and statistical sources that cover the field in its breadth during this time period.
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This study aims to empirically examine how economic policy uncertainty emanating from three major global economic blocks (the US, the Chinese and the European Union) and…
Abstract
Purpose
This study aims to empirically examine how economic policy uncertainty emanating from three major global economic blocks (the US, the Chinese and the European Union) and volatility in global oil prices influence international trade.
Design/methodology/approach
The study uses quarterly data spanning the period between 1995 and 2014 in an autoregressive distributed lag framework.
Findings
This study finds that economic policy uncertainty conditions associated with the US and the Chinese economies tend to have significant negative or constraining impact on key components of international trade. Further analysis suggests that between the two leading economies (the US and the Chinese economies), economic policy uncertainty emanating from the US economy tend to have much more constraining impact on dynamics of international trade than the Chinese economy all things being equal.
Practical implications
This study’s findings carry significant strategic planning and policy implications for international trade dependent firms or corporations and economies. For instance, for multi-national corporations or firms whose products and services depend heavily on cross-border trade, understanding and taking into consideration prevailing economic policy dynamics emanating from the US and the Chinese economies in product and services demand forecast, and other strategic moves could be critical in minimizing potential adverse effects on projected performance or growth targets.
Originality/value
The uniqueness of this study’s approach stems from its assessment of how perception of uncertainty among economic agents about economic policies originating from three noted global economic blocks impacts international trade. In other words, instead of traditional factors or conditions surmised to influence variability in trend associated with international trade found in related studies, this study rather examines how perceptions of uncertainty about prevailing or yet to be enacted economic policy within specific global economic block impacts international trade.
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Leslie Johns and B. Peter Rosendorff
Many functionalist models of international cooperation rely on punishment by states to enforce cooperation. However, the empirical record suggests that such state-based accounts…
Abstract
Many functionalist models of international cooperation rely on punishment by states to enforce cooperation. However, the empirical record suggests that such state-based accounts offer an incomplete explanation of international trade cooperation. We argue that when theoretical approaches are adjusted to incorporate aspects of domestic politics and institutions, two key insights emerge. First, political pressure from domestic industries can be key in creating demand for violations of trade agreements. Since such pressure is affected by stochastic shocks, the temptation of leaders to commit trade violations can vary over time. The presence of a dispute settlement procedure (DSP) provides flexibility that allows leaders to respond to such pressure by occasionally committing violations and then compensating their trading partners, if the DSP finds that the violation was not subject to exceptions in the trading agreement. This flexibility enhances the willingness of leaders to sign cooperative agreements in the first place. Second, domestic politics can function as an enforcement mechanism for ensuring compliance with international trade agreements and DSP rulings. Voters can condition their electoral decisions on whether their leader complies with socially beneficial trade agreements. The DSP plays an important role in this account as an information-provider. For voters to hold their leaders accountable, they need information about what choices their leader has made and whether his actions constitute compliance with an international agreement. The DSP provides transparency and reduces uncertainty about these factors.
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This chapter provides a theory model of trade finance to explain the “great trade collapse.” The model shows that, first, the riskiness of international transactions rises…
Abstract
This chapter provides a theory model of trade finance to explain the “great trade collapse.” The model shows that, first, the riskiness of international transactions rises relative to domestic transactions during economic downturns; and second, the exclusive use of a letter of credit in international transactions exacerbates a collapse in trade during a financial crisis. The basic model considers banks’ optimal screening decisions in the presence of counterparty default risks. In equilibrium, banks will maintain a higher precision screening test for domestic firms and a lower precision screening test for foreign firms, which constitutes the main mechanism of the model.
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I begin with a dispute over a fox hunt, by which to understand the law of tangible property, then develop that metaphor for the major types of intellectual property. I start with…
Abstract
I begin with a dispute over a fox hunt, by which to understand the law of tangible property, then develop that metaphor for the major types of intellectual property. I start with domestic U.S. patent law for the sake of concreteness, and generalize to other jurisdictions and types of intellectual property. In the latter parts of the paper I discuss the international implications of intellectual property, including especially the effects of information spillovers. The last part of the paper describes the hazards in analogizing “trade” in intellectual property rights to trade in goods, and particularly in interpreting international patent data. These hazards motivate the search for a structural model specially adapted to the purpose of valuing international intellectual property rights and rules. The goal is to give economists a simple and integrated framework for analyzing intellectual property across time, jurisdiction and regime type, with an eye towards eventually developing other incentive systems that have the advantages of property (such as decentralized decision-making), but fewer of the disadvantages.
There is no single undertaking regulating food assistance at the international level. International food assistance is regulated by a patchwork of rules emanating from different…
Abstract
Purpose
There is no single undertaking regulating food assistance at the international level. International food assistance is regulated by a patchwork of rules emanating from different institutions and normative arrangements. This study aims to explore how international law shapes international food assistance. How is international law regulating food assistance, considering this patchwork of institutions and norms? What dominant narratives enshrined in legal agreements shape the evolution of international food assistance?
Design/methodology/approach
The author uses the concept of “regime complex”, which allows analyzing partially overlapping and nonhierarchical regimes governing a particular issue, shedding light on the narratives and institutional arrangements that lead to the consolidation of international rules. The author identifies two main regimes that govern international food assistance: the food assistance regime and the food trade regime.
Findings
The author shows that using the “regime complex” concept clarifies the evolution of international food assistance, highlighting that international law is a crucial element in shaping international food assistance and showing that the two main institutional regimes governing it interact and shape rules along three main themes: the centrality of donor States’ self-interests, the relationship between international food assistance and trade liberalization and the goal of achieving food security for the beneficiaries.
Originality/value
Using the regime complex concept, the author brings new light on the broader institutional and legal framework influencing the governance of international food assistance, showing that different regimes take part in its shaping.
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