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41. A Strategic Challenge: A Peddling Peril Index Analysis of Countries’ Restricted Russia Trade

Author:
David Albright, Sarah Burkhard, and Spencer Faragasso
Publication Date:
07-2023
Content Type:
Special Report
Institution:
Institute for Security and International Studies (ISIS)
Abstract:
National trade control systems and sanctions enforcement across the globe have been particularly challenged by Russia’s 2022 invasion of Ukraine, the unexpected types and number of goods to control, the need for rapid control of those items, and Russia’s determination to thwart others’ trade controls. The Russian situation demonstrates that even countries with strong strategic trade control systems have vulnerabilities. • In the aftermath of Russia’s invasion of Ukraine, the results of the Peddling Peril Index (PPI) for 2021/2022 provide a method to assess a total of 31 countries identified by their respective roles in the transshipment of restricted goods or the supply of dual-use goods used by the Russian military. • The purpose of this study is to identify patterns in these countries’ scores and lessons in finding ways of thwarting Russia’s success in violating sanctions and export controls.
Topic:
Sanctions, Exports, Trade, and Russia-Ukraine War
Political Geography:
Russia and Europe

42. Cocoa in Ghana, the ‘Political Crop’: Does State Control Shield the Cocoa Sector from Exposure to Capital Flight?

Author:
Léonce Ndikumana and Kwame Adjai-Mantey
Publication Date:
08-2023
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
Since its introduction into Ghana in the 19th century, cocoa has been considered a strategic crop, over which the post-independence governments have maintained substantial control. Cocoa is indeed referred to as a ‘political crop.’ The cocoa sector is closely regulated by the government through the Ghana Cocoa Board (COCOBOD). This paper aims to investigate whether this special industrial organization structure and the strict regulation help minimize the sector’s exposure to capital flight that would otherwise occur through export misinvoicing and leakage of foreign exchange earnings from cocoa exports. Indeed, compared to the gold sector in Ghana and the cocoa sector in neighboring Côte d’Ivoire, both of which are fully liberalized and dominated by foreign corporations, the cocoa sector in Ghana exhibits relatively little evidence of export misinvoicing. Moreover, cocoa export earnings are fully repatriated as they are in the hands of COCOBOD. The analysis, however, indicates that the gains from the cocoa sector in terms of contributions to GDP, tax revenue, and poverty reduction remain sub-optimal. This suggests that there is substantial room for improvement of these outcomes through targeted reforms and policy interventions at the sectoral level.
Topic:
Political Economy, Reform, Exports, Capital Flight, and Cocoa
Political Geography:
Africa and Ghana

43. How US chip controls on China benefit and cost Korean firms

Author:
Martin Chorzempa
Publication Date:
07-2023
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
Export controls have become one of the most contentious battlegrounds in US-China technology competition. US semiconductor export controls aimed at China, however, have also embroiled allies such as South Korea. These controls largely do not affect Korean firms' chip sales to China, but Korean firms are vulnerable because they have large chip production facilities in China, which make around 40 percent of the memory chips for these firms. Those facilities in China rely on access to semiconductor manufacturing equipment (SME) or servicing from not only the United States but also other countries that have imposed controls on exporting advanced SME to China. Although the United States is unlikely to shut off access to the technology needed to keep the plants running for the foreseeable future, it has signaled that it will not allow new technology needed to upgrade those facilities, so they will become uncompetitive over the next few years and will need to be shuttered or sold off. For future production, Korean firms will need to build new facilities at great (albeit subsidized) expense, amortizing the sunk costs of operations in China over the coming years. At the same time, the controls have created significant benefits for Korean firms by shutting off Chinese competition for their memory businesses. Yet benefiting from the tensions between superpowers comes with serious risks. Firms and governments must deal with much greater uncertainty and evaluate the risk of their dependence on both the United States and China.
Topic:
Science and Technology, Business, Exports, Manufacturing, and Semiconductors
Political Geography:
China, South Korea, and United States of America

44. Foreign Linkages, Innovation & Productivity: Evidence from Enterprise Surveys

Author:
Anmol Kaur Grewal
Publication Date:
09-2023
Content Type:
Working Paper
Institution:
Centre for Trade and Economic Integration, The Graduate Institute (IHEID)
Abstract:
This paper estimates a three-stage structural model of how foreign linkages affect innovation which in turn affects firm productivity. Using harmonized firm-level data from the World Bank Enterprise Surveys, I construct a panel dataset for 47 developing countries spanning 2003 to 2019. I distinguish between four types of foreign linkages (exports, imports, inward foreign direct investment (FDI) and the use of foreign-licensed technology), and two types of innovation (product innovation and process innovation). To mitigate concerns regarding sample selection and endogeneity biases, I employ advanced panel data methods. In the first stage, I find that being an exporter, using foreign inputs, and using foreign-licensed technology makes firms more likely to invest in R&D, relative to other firms. I also find evidence of sample selection bias which is corrected by using a two-step Heckman selection model. In the second stage, I find that while increases in the R&D intensity increase the probability of product innovation, they have no statistically significant effect on the likelihood of process innovation. In the third stage, I find that product or process innovation is associated with increases in firm-level productivity. These results remain robust across alternative measures of innovation and firm productivity.
Topic:
Development, Foreign Direct Investment, Exports, Innovation, Imports, Productivity, and Foreign Linkages
Political Geography:
Global Focus

45. Export controls effectively constrain China's advance in microchip production

Author:
Lisa Fuller
Publication Date:
08-2023
Content Type:
Policy Brief
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
American and allied export controls have been successful in slowing the advance of China’s equipment for semiconductor chip production. Chinese players have been increasingly cut off from a global industry where customer-client interaction is essential. The US and its allies should continue with the controls and subsidies they have in place but expanding them further, as some advocate, would be excessively punitive.
Topic:
Science and Technology, Economy, Exports, Industry, and Competition
Political Geography:
China, Asia, and United States of America

46. Containing Tariff Evasion*

Author:
Clément Anne, Cyril Chalendard, Ana Fernandes, Bob Rijkers, and Vincent Vicard
Publication Date:
11-2023
Content Type:
Working Paper
Institution:
Centre d'Etudes Prospectives et d'Informations Internationales (CEPII)
Abstract:
To identify transactions at risk of tariff evasion, this paper matches export transaction data from France with import transaction data from Madagascar using container identifiers. Reporting discrepancies between exporters and importers are prevalent but small, with over two-fifths of importers reporting in a way that increases their tariff liability. Yet, aggregate tariff revenues are 24 percent lower due to discrepancies. These revenue losses are highly concentrated: the top five evaders account for three-quarters of all tariff revenue losses and larger shipments are more at risk of evasion. Tariff enforcement in Madagascar is ineffective and only marginally mitigates revenue losses.
Topic:
Corruption, Tariffs, Exports, Trade, Imports, and Tax Evasion
Political Geography:
Africa, Madagascar, and Global Focus

47. Securing Foreign Markets: Exports, Relational Specificity and New Investment Locations

Author:
Giorgia Giovannetti, Gianluca Santoni, and Giulio Vannelli
Publication Date:
02-2023
Content Type:
Working Paper
Institution:
Centre d'Etudes Prospectives et d'Informations Internationales (CEPII)
Abstract:
In this article we examine how the need to secure profit streams from exports has affected the location choice of new foreign investments by French manufacturing firms. Motivated by the observation that most firms entering a new foreign country do not establish a production unit there or decrease their exports, we develop a simple theoretical framework to guide our analysis and provide empirical evidence to support this “market securing” mechanism. Our results confirm that companies tend to locate new investments in countries that account for a larger share of their past exports; allowing for better monitoring of the foreign market, the investment prevents the disruption of the relationship, whose impact on profits would be more detrimental in the case of more important foreign partners. A 10 percent increase in bilateral exports increases the probability of investing by 3.4 percent. Consistent with our mechanism, given the same volume of exports, firms prefer countries that purchase goods with higher relational specificity as finding new buyers for these goods would imply higher costs if the relationship was broken.Exporting at least one good with relational specificity above the 75th percentile increases the probability of investing by 2.2 times compared to exporting more generic goods (below the 50th percentile).
Topic:
Markets, Foreign Direct Investment, Investment, Exports, and Manufacturing
Political Geography:
Europe and France

48. Tourism Exports, Digitalisation, and Employment during the COVID-19 Pandemic: The Case of Indonesia

Author:
Mini P. Thomas, Archana Srivastava, and Keerti Mallela
Publication Date:
12-2023
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
This study aims to examine the relationship amongst tourism exports, digitalisation, and employment in tourism and allied sectors of Indonesia; and to throw light on how low-, medium, and high-skilled employment have been impacted during the coronavirus disease (COVID-19) pandemic. We include both transport service exports and travel service exports within the ambit of tourism exports. Digitalisation is defined in terms of digitally deliverable services. The study classifies employment at varying skill levels on the basis of educational qualifications, and occupation-based skill classification is used as a robustness check. The COVID-19 pandemic is captured with the help of a time dummy variable and also using the Stringency Index. The study estimates the bound testing approach to the autoregressive distributed lag (ARDL) model using quarterly time series data, and the autoregressive moving average with exogenous variable (ARMAX) model using monthly time series data, to understand the nature of the long-run relationship and short-run dynamics amongst the variables of interest. The study establishes the presence of cointegration amongst employment, tourism exports, digitalisation, and other control variables in all four cases – total employment, and low-, medium-, and high-skilled employment. We find tourism exports to have a positive and significant impact on employment, except high-skilled employment. Digitalisation of tourism exports is found to have a significant but negative impact on the total, low-skilled and medium-skilled employment. The COVID-19 pandemic is also found to have a negative and significant impact on total employment in Indonesia, with low-skilled employment being the worst affected
Topic:
Tourism, Employment, Exports, COVID-19, and Digitalization
Political Geography:
Indonesia, Asia, and Southeast Asia

49. The Dual Mandate of Food Exporting States: India’s Roles in the Global Food Order

Author:
Jose M. L. Montesclaros
Publication Date:
09-2023
Content Type:
Commentary and Analysis
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
Criticisms of India’s rice export ban must be balanced with the recognition of its responsibility to ensure food affordability for its constituents. Finding a middle ground that addresses India’s predicament could help to prevent the impending international food price crisis from escalating.
Topic:
Climate Change, Food Security, Exports, Affordability, Rice, and Conference of the Parties (COP)
Political Geography:
South Asia and India

50. Against the flow: Europe’s role in kickstarting Algeria’s green transition

Author:
Andrew Farrand
Publication Date:
10-2022
Content Type:
Policy Brief
Institution:
European Council on Foreign Relations (ECFR)
Abstract:
Russia’s war on Ukraine has reshaped European energy markets and lent new urgency to the EU’s decarbonisation plans, altering the incentives of the bloc’s energy partners. Surging demand for Algeria’s oil and gas exports has temporarily undercut pressure for domestic reform, including in the energy sector. But growing local energy consumption and European plans to reduce fossil fuel imports in favour of renewables threaten Algeria’s rentier system. The country’s leaders have taken only minimal steps to build renewable energy capacity and remain fixated on raising hydrocarbon investment. While Algeria has little spare capacity to increase its hydrocarbon exports in the short term, it holds far more promise for Europe as a long-term partner in renewable energy. Europe’s ambitious climate goals, deep pockets, and technical expertise make it well placed to help Algeria kick-start a robust energy transition – if the country chooses to go along. At a high-level energy dialogue this month, EU and Algerian officials will convene for the first of many discussions to reshape the future of their energy partnership.
Topic:
Climate Change, Oil, European Union, Gas, Exports, and Green Transition
Political Geography:
Europe and Algeria