Current Issue : July - September Volume : 2019 Issue Number : 3 Articles : 5 Articles
In every international or global trade summit, one can easily find the element of the Services.\nNonetheless, Services companies continue to encounter obstacles to entering and operating in\nnew markets, due to various protectionist measures in host countries. International negotiations\nhelp to globalize the Trade in Services and apply international standards and rules to facilitate\ninformation flow and partnerships, which increase world trade and further develop\ninternational trade relations. The existence and implementation of international standards and\nrules in all areas of the Services could facilitate the flow of information and partnerships that\nwould increase world trade and improve international trade relations. Efforts to reach a new\nworld agreement in Services are constantly stumbling into the refusal of the Least Developed\nand Developing Countries to curb the various policies of protectionism and free market\npenetration. The example of BRICS (Brazil, Russia, India, People's Republic of China, South\nAfrica) may be a good paradigm in international negotiations but still to be proved....
This paper examines the trade promoting effects of monetary union in the\ncontext of the CFA franc zone. Using the gravity model as a basis for predicting\nthe volume of trade between countries, the study attempts to estimate the\npotential for increased trade within the CFA franc zone. The study shows that\nthe CFA countries have experienced relatively low monetary growth, relatively\nstrict budgetary disciplines, and consistently low inflation. However,\nthe results of the study indicate that monetary union in the case of the CFA\nfranc zone did not promote economic integration among member countries\nin the form of expanded trade. The actual trade among these countries remained\nsmall despite the use of common foreign exchange policy and free\ntransferability of resources among these countries....
Since the globalization of the economy, the economic factors have spread\nspatially on a global scale, which has greatly promoted and upgraded the urban\nagglomeration economy. The industry continues to gather and spread,\nand promotes the strengthening of division of labor, exchanges, cooperation\nand competition within the region. With the acceleration of regional urbanization\nand the deepening of economic exchanges between core cities in the\nurban agglomeration, effective integration, clear division of labor in cities and\ncomplementary advantages must be taken to reduce the constraints of imperfect\nmechanisms on overall development, avoid internal competition and enhance\noverall competitiveness, through which we can achieve common prosperity.\nThe urban agglomerations of Bay Area of Guangdong, Hongkong and\nMacao are facing increasing competitive pressures under the trend of economic\nglobalization and regional economic integration. Meanwhile, integration\nwill provide new opportunities. This paper explains the urban competitiveness\nand integration dynamics of the urban agglomerations of Guangdong,\nHongkong and Macao, and puts forward relevant suggestions on the\nintegration of urban agglomerations, hoping to be inspired....
This study is conducted to revisit the empirical relationship between exports,\nimports and economic growth in Bangladesh using annual time series data\nfrom 1981 to 2017. To capture the objective, the study used Johansen\nCo-integration test and Granger-causality test in Vector Error Correction\nModel (VECM) framework. Based on the results of Johansen Co-integration\ntest, it confirms that there is statistically significant long-run equilibrium relationship\nbetween exports, imports and economic growth. The results of the\nVECM Granger Causality test assure that the disequilibrium in long-run GDP\ngrowth rate is corrected or adjusted by 24% in short-run following the next\nyear. Furthermore, the study found short-run causality running from exports\nto economic growth and from economic growth to imports. Finally, findings\nof the study will help the policy makers and development partners of Bangladesh\nto rethink about the current policies regarding the exports, imports, inflation,\ngross capital formation (investment) and economic growth....
This paper classifies the panel data of 26 manufacturing industries in China\nfrom 2003 to 2014 according to different factors intensive industries, and\nconducts an empirical study on the impact of international trade on the wage\ngap within the industry by building a dynamic panel data model and using\nsystematic GMM method. The study finds that, as far as the overall manufacturing\nindustry is concerned, international trade will narrow the wage gap\nwithin the industry. If international trade is further divided into export trade\nand import trade, export trade will narrow the wage gap in the manufacturing\nindustry as a whole, narrow the wage gap in labor-intensive industries, and\nnarrow the wage gap in capital-intensive industries whose effect is not significant.\nHowever, the import trade will expand the wage gap in the manufacturing\nindustry as a whole, narrow the wage gap in labor-intensive industries,\nand widen the wage gap in capital-intensive industries whose effect is not significant....
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