Subjects -> BUSINESS AND ECONOMICS (Total: 3570 journals)
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    - TRADE AND INDUSTRIAL DIRECTORIES (2 journals)

INTERNATIONAL COMMERCE (145 journals)                     

Showing 1 - 136 of 136 Journals sorted alphabetically
Acta Economica Et Turistica     Open Access   (Followers: 1)
Advances in Accounting     Hybrid Journal   (Followers: 10)
African Journal of Economic and Sustainable Development     Hybrid Journal   (Followers: 17)
Amnis     Open Access   (Followers: 1)
Antitrust Bulletin     Hybrid Journal   (Followers: 8)
Asia and the Global Economy     Open Access  
Asian Journal of Shipping and Logistics     Open Access   (Followers: 2)
Botswana Journal of Economics     Open Access   (Followers: 1)
Career Development International     Hybrid Journal   (Followers: 18)
China Business Review     Full-text available via subscription   (Followers: 2)
China Economic Quarterly International     Open Access  
Competition and Regulation in Network Industries     Full-text available via subscription   (Followers: 7)
Critical Perspectives on International Business     Hybrid Journal   (Followers: 1)
Crossroads     Hybrid Journal  
Digital Finance : Smart Data Analytics, Investment Innovation, and Financial Technology     Hybrid Journal   (Followers: 3)
East Asian Community Review     Hybrid Journal  
EC Tax Review     Full-text available via subscription   (Followers: 5)
Economic Journal of Emerging Markets     Open Access   (Followers: 1)
Economics Research International     Open Access   (Followers: 1)
Ekonomia Międzynarodowa     Open Access  
EMAJ : Emerging Markets Journal     Open Access  
Emerging Markets Finance and Trade     Hybrid Journal   (Followers: 7)
Estudos Internacionais : revista de relações internacionais da PUC Minas     Open Access   (Followers: 1)
European Business Law Review     Full-text available via subscription   (Followers: 17)
European Company Law     Full-text available via subscription   (Followers: 11)
European Journal of International Management     Hybrid Journal   (Followers: 3)
Expert Journal of Business and Management     Open Access  
Foreign Trade Review     Hybrid Journal   (Followers: 3)
Global & Strategis     Open Access   (Followers: 1)
Global Summitry     Hybrid Journal   (Followers: 1)
Global Trade and Customs Journal     Full-text available via subscription   (Followers: 6)
Human Resource Development International     Hybrid Journal   (Followers: 19)
Human Resource Management International Digest     Hybrid Journal   (Followers: 18)
IMF Economic Review     Hybrid Journal   (Followers: 44)
IN VIVO     Full-text available via subscription   (Followers: 4)
Information Resources Management Journal     Full-text available via subscription   (Followers: 8)
Information Technologies & International Development     Open Access   (Followers: 81)
International Advances in Economic Research     Hybrid Journal   (Followers: 6)
International Business Review     Hybrid Journal   (Followers: 9)
International Commerce Review     Hybrid Journal   (Followers: 1)
International Economic Journal     Hybrid Journal   (Followers: 8)
International Economic Review     Hybrid Journal   (Followers: 61)
International Economics     Hybrid Journal   (Followers: 3)
International Economics and Economic Policy     Hybrid Journal   (Followers: 7)
International Entrepreneurship and Management Journal     Hybrid Journal   (Followers: 8)
International Environmental Agreements: Politics, Law and Economics     Hybrid Journal   (Followers: 14)
International Finance     Hybrid Journal   (Followers: 26)
International Insolvency Review     Hybrid Journal   (Followers: 4)
International Journal of Applied Behavioral Economics     Full-text available via subscription   (Followers: 18)
International Journal of Asian Business and Information Management     Full-text available via subscription   (Followers: 1)
International Journal of Commerce and Management     Hybrid Journal  
International Journal of Export Marketing     Hybrid Journal   (Followers: 1)
International Journal of Governance and Financial Intermediation     Hybrid Journal  
International Labor and Working-Class History     Full-text available via subscription   (Followers: 15)
International Labour Review     Partially Free   (Followers: 60)
International Marketing Review     Hybrid Journal   (Followers: 14)
International Public Management Journal     Hybrid Journal   (Followers: 8)
International Review of Applied Economics     Hybrid Journal   (Followers: 6)
International Review of Economics     Hybrid Journal   (Followers: 4)
International Review of Economics & Finance     Hybrid Journal   (Followers: 28)
International Review of Finance     Hybrid Journal   (Followers: 9)
International Review of Financial Analysis     Hybrid Journal   (Followers: 8)
International Review of Law and Economics     Hybrid Journal   (Followers: 27)
International Review of Retail, Distribution and Consumer Research     Hybrid Journal   (Followers: 3)
International Review of Social History     Full-text available via subscription   (Followers: 32)
International Review on Public and Nonprofit Marketing     Hybrid Journal   (Followers: 3)
International Small Business Journal     Hybrid Journal   (Followers: 11)
International Studies of Management and Organization     Full-text available via subscription   (Followers: 8)
International Trade Journal : Western Hemispheric Studies     Hybrid Journal   (Followers: 2)
International Transactions In Operational Research     Hybrid Journal   (Followers: 2)
Intertax     Full-text available via subscription   (Followers: 4)
Japanese Political Economy     Full-text available via subscription   (Followers: 1)
Journal for International Business and Entrepreneurship Development     Hybrid Journal   (Followers: 8)
Journal of Accounting and Finance in Emerging Economies     Open Access  
Journal of Advanced Research in Economics and International Business     Full-text available via subscription  
Journal of Antitrust Enforcement     Hybrid Journal   (Followers: 1)
Journal of Chinese Economic and Foreign Trade Studies     Hybrid Journal   (Followers: 2)
Journal of Chinese Human Resource Management     Hybrid Journal   (Followers: 4)
Journal of Comparative International Management     Full-text available via subscription  
Journal of Contemporary European Research     Open Access   (Followers: 16)
Journal of Economics and International Finance     Open Access   (Followers: 1)
Journal of International Accounting, Auditing and Taxation     Hybrid Journal   (Followers: 5)
Journal of International Business Policy     Hybrid Journal  
Journal of International Business Studies     Hybrid Journal   (Followers: 48)
Journal of International Commerce, Economics and Policy     Hybrid Journal  
Journal of International Consumer Marketing     Hybrid Journal   (Followers: 9)
Journal of International Development     Hybrid Journal   (Followers: 32)
Journal of International Economics     Hybrid Journal   (Followers: 38)
Journal of International Entrepreneurship     Hybrid Journal   (Followers: 10)
Journal of International Financial Management & Accounting     Hybrid Journal   (Followers: 4)
Journal of International Financial Markets, Institutions and Money     Hybrid Journal   (Followers: 19)
Journal of International Food & Agribusiness Marketing     Hybrid Journal   (Followers: 2)
Journal of International Management     Hybrid Journal   (Followers: 5)
Journal of International Marketing     Full-text available via subscription   (Followers: 24)
Journal of International Money and Finance     Hybrid Journal   (Followers: 37)
Journal of International Trade & Economic Development: An International and Comparative Review     Hybrid Journal   (Followers: 11)
Journal of International Trade Law and Policy     Hybrid Journal   (Followers: 19)
Journal of Korea Trade     Full-text available via subscription   (Followers: 1)
Journal of Monetary Economics     Hybrid Journal   (Followers: 95)
Journal of Revenue and Pricing Management     Hybrid Journal   (Followers: 4)
Journal of Reviews on Global Economics     Open Access  
Journal of the Association for Consumer Research     Full-text available via subscription   (Followers: 7)
Journal of the Japanese and International Economies     Hybrid Journal   (Followers: 4)
Journal of Theoretical and Applied Electronic Commerce Research     Open Access  
Journal of World Trade     Full-text available via subscription   (Followers: 19)
Jurnal Hubungan Internasional     Open Access  
Jurnal Ilmu Ekonomi Terapan     Open Access  
L'Année du Maghreb     Open Access   (Followers: 1)
Management international / International Management / Gestiòn Internacional     Full-text available via subscription   (Followers: 3)
Management International Review     Hybrid Journal   (Followers: 7)
MEED Middle East Economic Digest     Full-text available via subscription   (Followers: 1)
Monthly Statistics of International Trade - Statistiques mensuelles du commerce international     Full-text available via subscription   (Followers: 3)
PharmacoEconomics     Full-text available via subscription   (Followers: 26)
Proceedings of the International Conference on Business Excellence     Open Access  
Qualitative Research in Financial Markets     Hybrid Journal   (Followers: 2)
Quarterly Journal of Political Science     Full-text available via subscription   (Followers: 18)
Regional Formation and Development Studies     Open Access  
Relações Internacionais (R:I)     Open Access  
Research World     Hybrid Journal  
Review of International Economics     Hybrid Journal   (Followers: 14)
Review of International Political Economy     Hybrid Journal   (Followers: 40)
Revista Brasileira de Gestão de Negócios     Open Access  
Revista Multiface Online     Open Access  
Revue internationale de l'économie sociale     Full-text available via subscription  
Revue Internationale du Travail     Full-text available via subscription   (Followers: 3)
Revue internationale P.M.E. : économie et gestion de la petite et moyenne entreprise     Full-text available via subscription   (Followers: 1)
South African Journal of International Affairs     Hybrid Journal   (Followers: 6)
South American Development Society Journal     Open Access  
Studies in Comparative International Development     Hybrid Journal   (Followers: 16)
Syracuse Journal of International Law and Commerce     Open Access   (Followers: 3)
TDM Transnational Dispute Management Journal     Full-text available via subscription   (Followers: 5)
Transnational Corporations Review     Hybrid Journal  
World Competition     Full-text available via subscription   (Followers: 9)
World Food Policy     Hybrid Journal   (Followers: 3)
World Oil Trade     Hybrid Journal  
World Trade and Arbitration Materials     Full-text available via subscription   (Followers: 8)

           

Similar Journals
Journal Cover
Journal of Chinese Economic and Foreign Trade Studies
Journal Prestige (SJR): 0.2
Number of Followers: 2  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1754-4408 - ISSN (Online) 1754-4416
Published by Emerald Homepage  [360 journals]
  • Women, land and rural development in Egypt: a socio-cultural perspective

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      Authors: Yasmin Khodary
      Abstract: The relationship between women and land is not a mere legal or technical relationship but one that is mediated through socio-cultural norms and notions. Building on the work of Feminism Environmentalism, but moving beyond Agarwal’s materialist system, this paper aims to assess the level of change (if any) in the perceptions and practices of rural communities in Sohag and Assiut toward women’s ownership and inheritance of land post the implementation of some societal initiatives by feminist organizations and what this means for rural development in these communities. In doing this, the paper explores the strengths and weaknesses of these societal initiatives. The paper uses case study approach by focusing on societal initiatives in two Egyptian Governorates. It also follows a mixed-methods sequential explanatory design, whereby quantitative data is first driven by using a survey that assesses the level of change in the societal perceptions and practices toward women’s ownership of agricultural land and its implication for rural development. Quantitative data is then followed by qualitative methods, namely, eight focus group discussions with different societal groups, to have a more in-depth understanding and explanation of the occurring change (if any). The research finds that a positive shift occurred in the societal perceptions and practices with regard to women’s ownership and inheritance of agricultural land as a result of the societal initiatives. This, in turn, had better implications for rural development in terms of improved socio-economic well-being and overall quality of life. This improvement can be traced back to the change in cultural notions and perceptions as a result of four factors: capitalizing on the roles of influential groups, relying on influential activities, targeting men, especially heads of households or elders, and building blocks or partnering with the various relevant entities. The misperception of the nature of the women-–environment/land relationship and its confinement to legal solutions undermines the likelihood of improving this relationship and, subsequently, attainment of rural and sustainable development. This study provides some key lessons to improve the women–environment/land relationship and, in turn, enhance the chances for rural and sustainable development through addressing the underlying socio-cultural barriers. In Egypt, socio-cultural barriers hamper women’s ownership of agricultural land leading to only 5% of agriculture land being owned by women compared to 95% owned by men; a situation that is found in many other countries, such as Kenya, where women perform 70% of the agricultural labor, but possess less than 1% of the agricultural land. Improving women’s access to land, hence, solves a common social problem in Egypt and Africa and enhances gender equality. Little work has been done to investigate the socio-cultural dimensions to the women–environment relationship. Hence, this study fills this gap and concludes with some lessons learned on how to improve the women–environment, particularly land, relationship.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2022-05-09
      DOI: 10.1108/JCEFTS-10-2021-0061
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The relationship between knowledge-based economies and economic growth: an
           empirical analysis on the Asia-Pacific region 2011–2018

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      Authors: Maha Elhini , Yara Mourad
      Abstract: This paper aims to examine the relationship between knowledge-economy and economic growth in 16 Asia-Pacific (AP) countries during the period 2011–2018. The study also aims to investigate a diversity of knowledge-economy pillars, including tertiary education, domestic innovation, foreign innovation, economic incentives and institutional regime and information and communications technologies (ICTs) and their relation to economic growth. The study applies a comparative empirical analysis using pooled ordinary least squares (OLS), one-step difference generalised methods of moments (GMM) and bias-corrected least-squares dummy variables (LSDVc) estimators to test this relationship. Pooled OLS estimators deemed suboptimal to the panel data under study, while GMM results reveal a significant relationship between tertiary education, domestic and foreign innovation, government expenditure and investments with economic growth. Of these results, domestic innovation, investments and government consumption are positively correlated with economic growth, whereas tertiary education and foreign innovation show a negative relation. Meanwhile, institutions and ICT have insignificant relationships with economic growth. LSDVc results coincide with GMM results with respect to tertiary education, whereas institutions is the only additional significant and negatively correlated variable with economic growth. The main limitation of this research lies in the unavailability of proxy data for knowledge economy pillars in monetary terms, and hence, the paper relies on indices. The novelty of the study lies in its aim to investigate economic growth in the AP region that is enhanced by domestic innovation, foreign innovation or both – an area which is empirically understudied in the knowledge-economy context. Further, the paper’s novelty lies in its application of a comparative empirical analysis between the most popular dynamic panel estimators – dynamic GMM and bias-corrected LSDVc for AP countries.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2022-03-29
      DOI: 10.1108/JCEFTS-09-2021-0052
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Nexus between inflation and fiscal deficit: a comparative study of India
           and China

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      Authors: Gurleen Kaur
      Abstract: The purpose of this paper is to examine the deficit–inflation nexus in the two fastest growing economies, India and China, which happen to be crucial affiliates of the global growth generator countries apart from their association in Brazil, Russia, India, China, and South Africa. The paper uses the prism of the vector auto regression framework, for the period 1985–1986 to 2016–2017 for both India and China. For this purpose, gross fiscal deficit, money supply, exchange rate, crude oil prices and output gap are examined as the key elements in the determination of inflation. The econometric framework used chiefly comprises of cointegration analysis, vector error correction model, Granger causality and impulse response functions. The findings of this paper support the hypothesis that fiscal deficits are inflationary only in the Indian context and that the Ricardian equivalence cannot be negated for China at least in the short run. The results presented in the paper are a little agnostic about whether New Keynesian Phillips Curve (NKPC) explains the inflation dynamics in India, given that both inflation inertia and output gap are not robust. However, for the Chinese economy, NKPC along with structural theory is instrumental in describing trends pertaining to inflation during the period of the study. The paper warrants broader policy framework to aim at addressing structural bottlenecks to ensure non-inflationary growth keeping in mind the structural views on inflation. Furthermore, the paper fosters greater synthesis between monetary and fiscal policies, especially considering the global economic disruptions the world economy is subject to. Considering there are only a limited number of studies on fiscal deficit of China, the present paper is of paramount significance in terms of growing concern over the sustainability of the growth process in China. Additionally, the paper is first-of-its-kind attempt to account the effectiveness of a healthy monetary–fiscal interface in achieving macroeconomic stability in India and China.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2022-03-24
      DOI: 10.1108/JCEFTS-07-2021-0028
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Why an early Belt and Road Initiative East Africa hub' Economic,
           demographic and security factors

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      Authors: Lauren Johnston , Joseph Onjala
      Abstract: This purpose of this paper is to explore China’s choice to focus early Belt and Road Initiative (BRI) Africa outreach on Eastern Africa. The BRI specifically seeks to achieve ten economic and policy objectives, as outlined in the two launch speeches of 2013. In terms of realising these, the economic development and digitisation levels, that progress of the demographic transition, and the important security context of the sub-region, logically make East Africa relatively important to BRI in continental context. Kenya specifically is important in being an African frontier therein, and, also, because it shares a few important borders with landlocked countries, including Ethiopia, Sudan and Uganda, alongside a strategic coast and ports. From this lens, as well the fact that in the Ming Dynasty Chinese fleets reached what is modern-day Kenya, China’s early BRI outreach to Africa having had a historical precedent in initially focusing on Eastern Africa, might be usefully understood. To realise that aim a comprehensive survey of related literature and policy documents, in Chinese, English and Swahili, was undertaken and relevant data compiled and analysed. To the best of the authors’ knowledge, first, this paper is the first to argue that the Belt and Road Initiative in Africa may build on abstract long-run logic in terms of economics, demographic change and security. This provides a contrary perspective to the pre-existing established “debt trap diplomacy” and no consistent logic narratives. Second, it is the first to offer a synthesised analysis of the BRI in Africa, East Africa specifically, looking across economic, demographic and security angles. The paper is a synthesis of development and regional economics literature that forges some prospective rationales only. It is not an empirical research paper drawing very specific and definitive conclusions. Amid widespread geo-economic tensions and uncertainty, around the Belt and Road Initiative in particular, this paper offers a new economic development-oriented logic for the choice of an important node of the China's Belt and Road Initiative, that of East Africa, Kenya especially. This may impact existing related narratives and policy responses. Equivalently to the above this may then have an impact on the ground in East Africa and beyond. The first such or even close to synthesis.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2022-03-21
      DOI: 10.1108/JCEFTS-09-2021-0049
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Evaluating megaprojects from a sustainability perspective: a case of
           China-Pakistan economic corridor (CPEC)

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      Authors: Masoodul Hassan , Zeeshan Mahmood , Saleem Janjua , Numra Asif
      Abstract: This paper aims to examine the impact of various economic, social and environmental issues on the sustainable development of Pakistan, both directly and indirectly through the sustainability dimensions of China–Pakistan Economic Corridor (CPEC), a multi-billion-dollar megaproject. Using a quantitative (deductive) methodological approach, data were collected using a strategy of an online questionnaire survey from diverse stakeholders of CPEC in Pakistan. Partial least squares-based structural equation modeling technique was used to test the relationship between observed and latent variables. The results confirmed the positive impact of various economic, social and environmental issues on the sustainable development of Pakistan directly and indirectly through the partial mediation of sustainability dimensions of CPEC. Sustainability perceptions of stakeholders about CPEC and its relationship with sustainable development are critical issues for governments and policymakers. This paper suggest how economic, social and environmental dimensions of CPEC can enhance the positive perception which is necessary for stakeholder involvement and support for megaprojects such as CPEC. This study evaluated the megaprojects of CPEC from a sustainability perspective through stakeholders’ perceptions by proposing and testing a parsimonious research model that has never been examined in the existing literature.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2022-03-10
      DOI: 10.1108/JCEFTS-10-2021-0063
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The effect of gender equality on the carbon intensity of well-being: panel
           data analysis for the MENA economies 1995-2018

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      Authors: Hanan Sileem , Iman Al-Ayouty
      Abstract: This paper aims to explore the ecological efficiency through assessing the relation of the “carbon intensity of well-being” (CIWB) to gender equality, gross domestic product (GDP)/capita, the urban intensity of the population, the age structure of the population, foreign direct investment as a percentage of GDP and manufacturing as a percentage of GDP. CIWB equation is estimated for a panel of 18 MENA economies and Turkey over the period 1995–2018 using the two-way fixed effects Prais–Winsten regression with panel-corrected standard errors. The elasticity coefficients obtained from the estimated models indicated mixed effects on CIWB. While the increase of female educational attainment, accompanied with an increase in the female labor force participation rate, reduce CIWB, the younger female population and the younger population, in general, increase CIWB. Furthermore, while increasing FDI inflows reduces CIWB, increasing the manufacturing share of GDP increases CIWB. The pursuit of Sustainable Development Goals worldwide has moved the relevant literature on climate change mitigation and adaptation measures to a new level, where using the CIWB method is increasingly used to reflect carbon dioxide emissions per capita unit of expected lifespan. The present paper’s contribution to the literature is two-fold: one is computing and estimating the CIWB to examine ecological efficiency for the middle east and north africa (MENA) economies and Turkey over the period of study; and two is integrating and validating the beneficial impacts of integrating the gender equality dimension in the CIWB–climate change literature.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2022-01-31
      DOI: 10.1108/JCEFTS-09-2021-0060
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Gender gap and ecological footprint: are there country variations'
           Evidence from quantile panel regression

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      Authors: Eman Elish
      Abstract: The purpose of this research is to investigate the impact of the gender gap on the ecological footprint (EFP) corresponding to its different quantiles. Quantile panel regression for 24 countries from the period 2006 to 2017 will be used, for the gender gap and other determinants of EFP. Each factor affecting EFP differs in its impact depending on the level of EFP quantile it corresponds to. Gender gap was found to be increasing EFP for the higher quantiles and decreasing EFP for the lower quantiles. Environmental institutions should be considering the role of gender equality as a factor affecting the environment. Socioeconomic factors sometimes hamper the role of the female gender in preserving the environment. There are variations on how EFP factors differ between individual countries and this opens areas for further studies. This research contributes to the current research studies by testing the impact of the gender gap on EFP instead of CO2 emission which is widely used in the literature. This topic is considered understudied and one of the few that uses the quantile panel regression to investigate this impact, none of which is used in gender and environment studies. Finally, the model used in the study uses a more comprehensive extension of the “Stochastic Impact by Regression on Pollution, Affluence and Technology” model compared to the existing empirical studies in this area.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2022-01-03
      DOI: 10.1108/JCEFTS-08-2021-0042
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Are remittances and imports substitute or complement in developing
           country' A disaggregated evidence

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      Authors: Syed Tehseen Jawaid , Lubna Khan , Imtiaz Arif
      Abstract: Despite the reasonable surge of remittances and imports in Pakistan, very less attention has been given to this area. To bridge the gap, this study aims to explore the relationship of worker’s remittances and imports of Pakistan at both aggregate and disaggregate levels. Also, this research focuses on investigating whether remitted income substitute or complement imports of the country. To achieve these goals, the authors use annual time-series data from 1974–2016. Empirical findings obtained from the autoregressive distributed lag model method suggest that remittances substitute imports in Pakistan. It is also found that remittances not only substitute aggregate imports but also act as a substitute at different disaggregated levels. Further, it is documented that higher economic growth increases imports, whereas the real exchange rate for imports is inversely related to imports at both levels. These empirical findings also draw some substantive policy implications for the state owners and policy advisers.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2022-02-01
      DOI: 10.1108/JCEFTS-07-2021-0038
      Issue No: Vol. 15 , No. 1 (2022)
       
  • The impact of COVID-19 and the stringency of government policy responses
           on stock market returns worldwide

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      Authors: Abdulazeez Y.H. Saif-Alyousfi
      Abstract: This paper aims to investigate the impact of COVID-19 and the stringency of the government policy response on stock market returns globally and at the regional level. Pooled-ordinary least squares (OLS) and panel data techniques are used to analyse the daily data set across 88 countries in the Americas, Europe, Asia-Pacific, Middle East and Africa for the period of 1 January 2020 to 10 May 2021. Using pooled-OLS and panel data techniques, the analyses show that both the daily growth in confirmed cases and deaths caused by COVID-19 have significant negative effects on stock returns across all markets. The effects are non-linear and U-shaped. Stock markets react more to the growth of confirmed cases than to the growth in the number of confirmed deaths. The results, however, vary across regions. More specifically, this study finds that the negative effect of confirmed cases is stronger in the Americas and the Middle East, followed by Europe. The negative direct effect of deaths caused by COVID-19 is stronger in the European region, followed by the Middle East, in relation to the rest of the world. The stock market returns in the African region are not, however, statistically significant. The researcher finds evidence that stringent policy responses lead to a significant increase in the stock market returns, both globally and across regions. The results suggest that the integrity of the government and its interventions complemented by a stable and reliable monetary policy are crucial in providing confidence to firms and households in uncertain times. COVID-19 has a significant impact on national economies and stock markets, triggering various governments’ interventions across all geographic regions. The pandemic has significantly affected all aspects of life, especially the stock markets. However, their empirical impact on stock returns is still unclear. This paper is the first of its kind to fill this gap by providing an in-depth quantitative analysis of the impact of both COVID-19 and stringency of the governmental policy responses on stock market returns globally and at the regional level. It is also the first to use an advanced analytical framework in analysing the effects of daily growth in both total and newly confirmed cases, and the daily growth in both total and new deaths caused by COVID-19 on them. The dynamic nature of the data on COVID-19 is taken into account. The non-linearity of the effects is also considered.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2022-01-21
      DOI: 10.1108/JCEFTS-07-2021-0030
      Issue No: Vol. 15 , No. 1 (2022)
       
  • Empirical determinants of exchange-rate volatility: evidence from selected
           Asian economies

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      Authors: Abdul Rashid , Mohammad Basit
      Abstract: This paper aims to explore the empirical determinants of exchange-rate volatility (ERV) in selected Asian economies, namely, Bangladesh, China, India, Indonesia, Malaysia and Pakistan. Specifically, it examines how the volatility of foreign reserves, government spending, industrial production, gold prices and terms of trade affect monthly ERV during the examined period. The authors carry out the empirical analysis by using monthly data for the period January 1997–March 2019. First, the volatility of the underlying variables is measured based on the conditional variances obtained by estimating the univariate (generalized) autoregressive conditional heteroskedasticity [(G)ARCH] model for each variable during the study period. Next, the autoregressive conditional heteroscedasticity (ARCH)-Lagrange multiplier test is applied to ensure that there are no remaining ARCH effects in the residuals. Finally, the multivariate autoregressive-moving average-GARCH (1, 1) models are estimated to examine whether and how the volatility of the underlying variables affects ERV. The results reveal that the current period volatility of exchange rates is significantly affected by ERV in the previous period in all selected countries. The results also indicate that the volatilities of the underlying macroeconomic variables are quite differently related to ERV in examined Asian countries. Foreign-reserve volatility (VFXRES) has negative and significant impacts on ERV in Bangladesh, China and Malaysia. Government-spending volatility is negatively related to ERV in India, whereas it is positively related to ERV in all other examined countries. The results also suggest that although terms-of-trade volatility reduces ERV in both Bangladesh and Pakistan, it amplifies ERV in the remaining examined countries. However, gold-price volatility (VGOLDP) significantly, positively contributes to ERV in Bangladesh, Indonesia and Malaysia. On the contrary, the higher volatility in industrial production (VIPI) results in lower ERV in Indonesia and Pakistan, whereas it increases ERV in China, India and Malaysia. The findings have several important policy implications. First, the findings suggest that both Bangladesh and Malaysia should keep an adequate level of foreign reserves to stabilize their foreign exchange rates. Second, as government-spending volatility has a vital role in determining ERV, it is necessary to bring sustainability and continuity in government expenditures. Bangladesh and Pakistan can stabilize their foreign exchange rates by making exports more competitive, viable and accessible. This paper significantly contributes to the existing literature by exploring how the behavior of unexpected variations in the factors determining exchange rates affects ERV in selected Asia countries. Most of the published studies have examined the determinants of exchange rates by considering the macroeconomic variables at their levels. Departing from the existing studies, this paper significantly relates the volatility (second moment) of exchange rate determinants to the behavior of ERV. Further, this paper provides firsthand empirical evidence on this issue for the selected Asian economies.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2021-11-11
      DOI: 10.1108/JCEFTS-04-2021-0017
      Issue No: Vol. 15 , No. 1 (2021)
       
  • The economics of the Manila Galleon

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      Authors: Javier Mejia , Javier Mejia
      Abstract: This paper aims to offer a unified economic interpretation of the existing evidence on the Manila Galleon. It intends to be an introduction to the Manila Galleon for economists curious about long-term patterns in global trade, but who are not experts on economic history. The paper jointly presents quantitative and qualitative data to analyze in a critical way the existing work on the Manila Galleon. It proposes a conceptual model from the world-systems approach to reflect on the impact of this trade route. Evidence from two case studies, New Granada and Korea, accompany the model. The paper finds that the Manila Galleon was only possible because of the temporary coincidence of a quite singular set of international circumstances and favorable local market conditions. The paper also finds that, despite its large effects on the global integration of silver markets, the Manila Galleon was a profoundly asymmetric activity that brought minor consequences to most of the world. This paper shows the importance of additional studies providing systematic quantitative evidence on the Manila Galleon. The long tradition of an archival collection developed by historians offers a huge potential to this line of research. In addition, studies in regions different from Mexico, the Philippines, Spain and China would contribute to a better understanding of the Manila Galleon’s global consequences. This paper provides a series of reflections useful to think about the future challenges of global trade. These challenges require understanding the transformations that will come from profound technological change, massive reconfigurations of the geopolitical order and transitions in the long-term cycles of commodities. Because of their rare occurrence, these are forces hardly visible in recent history, making it necessary for the existence of long-term points of reference such as the Manila Galleon. This paper brings together widespread evidence on the Manila Galleon and provides a unified interpretation of it. This opens the door for audiences who are not experts on the economic history of the period to discuss the topic, allowing them to reflect on its lessons for the modern world.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2021-10-24
      DOI: 10.1108/JCEFTS-04-2021-0019
      Issue No: Vol. 15 , No. 1 (2021)
       
  • Trade integration, product diversification and the gravity equation:
           evidence from the Chinese merchandise imports

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      Authors: Dimitrios Karkanis , Myrsini Fotopoulou
      Abstract: The purpose of this paper is to identify trade integration and structure effects on bilateral trade between China and its partners, focusing on Chinese merchandise imports during the period 1995–2018. The methodological approach applied here uses the augmented gravity model to investigate the factors lying behind import intensity, by use of the ordinary least squares (OLS) and Poisson pseudo maximum likelihood (PPML) estimators. The findings provide evidence of complementarity between the Chinese demand and the world commodity markets. Free trade agreements between China and third countries seem to gradually lose significance, as the Chinese economy consolidates in world trade. Higher product diversification in export structures of China’s trading partners can become advantageous for facilitating market penetration. Diversification of energy resources, the steady, high demand for infrastructure equipment and more sophisticated consumer products constantly determine the structure of Chinese merchandise imports originating mainly and increasingly from countries with direct access to the Pacific Ocean. The analytical breakdown of Chinese imports, presented in this paper, adds value to the existing literature with regard to trade structure analysis for China, paving the way for similar research for other developing countries as well.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2021-08-14
      DOI: 10.1108/JCEFTS-12-2020-0070
      Issue No: Vol. 15 , No. 1 (2021)
       
  • Does the exchange rate overshoot in an emerging economy'

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      Authors: Muhammad Aftab , Amir Rafique , Evan Lau
      Abstract: The sticky-price monetary model of exchange rate states the overshooting hypothesis as, exchange rate depreciation beyond its long-term value in response to an increase in money supply owing to the sticky nature of prices. Because of interest and relevance to policy, there is a huge extant literature on it but with mixed findings that suggest the need for further studies to refine the findings. Pakistan’s rupee exchange rate against the US dollar depreciated 128.44% over the period May 2007–December 2018. Considering this substantial decline in rupee's value, this study aims to examine either the rupee short-run value is over-shot of its long-term value. This study uses a linear ARDL approach that segregates the short-run and long-run effects thus clarifying the premise of exchange rate overshooting. Furthermore, this study also uses nonlinear ARDL as a robustness check incorporating structural breaks. Findings based on a linear model show evidence of exchange rate undershooting that means a positive money shock causes the exchange rate to appreciate. A nonlinear analysis also provides support to these findings. However, the increase in relative money supply has more such effect than that of a decrease in the relative money supply. Moreover, the authorities’ inclination to stabilize the exchange rate appreciates its short-run value. This study substantiates the overshooting hypothesis literature by considering the role of asymmetric effects of exchange rate determinants and structural breaks that is a rare attempt in the extant literature.
      Citation: Journal of Chinese Economic and Foreign Trade Studies
      PubDate: 2021-06-09
      DOI: 10.1108/JCEFTS-12-2020-0075
      Issue No: Vol. 15 , No. 1 (2021)
       
  • Journal of Chinese Economic and Foreign Trade Studies

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