Search

Begin New Search Topic Economy Publication Year within 3 Years

91. VIP Pass to Markets: When Customs Certification Helps Firms to Face NTMs

Author:
Charlotte Emlinger and Houssein Guimbard
Publication Date:
10-2024
Content Type:
Working Paper
Institution:
Centre d'Etudes Prospectives et d'Informations Internationales (CEPII)
Abstract:
This paper aims to assess how trade facilitation measures reduce the costs induced by non-tariff measures (NTMs). It focuses on the Authorized Economic Operator (AEO) certification, a firm-level trade facilitation measure defined by the World Customs Organization. This status allows firms to benefit from customs simplifications at the border, reduced physical and document-based controls, and priority treatment. We use an original and exhaustive dataset of French firms certified as AEO by the European Customs, merged with firm level trade from the French Customs. Our empirical strategy is to compare the export structure of firms before and after their certification to see whether the impact of NTMs on trade can be reduced by trade facilitation measures. Our results show that the AEO status enhances trade, but only when facing NTMs in the destination market. This confirms that some of the trade costs generated by NTMs are administrative in nature and can be reduced by pre-certifying firms. Our conclusion is informative about the kind of trade cost reductions that could be achieved by trade agreements that go beyond tariff reductions, without hindering the level of actual regulation.
Topic:
Markets, Economy, Tariffs, Trade, and Customs
Political Geography:
Europe and France

92. Pioneering a new classification: a comprehensive study of healthcare products in global trade

Author:
Pierre Cotterlaz, Guillaume Gaulier, Aude Sztulman, and Deniz Ünal
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
Centre d'Etudes Prospectives et d'Informations Internationales (CEPII)
Abstract:
International trade in healthcare products took off in the 2000s at the height of hyper-globalisation. Twenty years on, the Covid-19 shock drove home to governments the importance of health security and trained the spotlight on the industrial sovereignty issues raised by the international organisation of production. However, the tangled web of international value chains has compromised the traceability of the manufacturing of these essential goods. In addition, the classification of healthcare products across a multitude of industries in the trade and production nomenclatures makes them hard to identify and muddies the picture further. In this paper, we have painstakingly identified these products and classified them together in one industry grouping to assess the scale of and trends in trade to meet the needs of national health systems. Covering a vast range of products (medicinal products and their compounds, medical technology equipment and small medical materials), this healthcare industry grouping has posted the strongest relative growth since 2000, rising to take the number two share of world trade in 2021 just behind electronic products. This paper details the nature of world trade in the healthcare industry grouping and its five branches by production stage (intermediate and final), type of trade flows (one-way and two-way) and quality/price range. It goes on to present how the advanced countries are positioned compared with the rest.
Topic:
Health, International Trade and Finance, Developing World, Economy, and Emerging Economies
Political Geography:
Global Focus

93. Are Mass Layoffs Individually Costly But Socially Beneficial?

Author:
Axelle Arquie and Thomas Grjebine
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
Centre d'Etudes Prospectives et d'Informations Internationales (CEPII)
Abstract:
Relying on rich administrative data, this paper examines the adaptive capabilities of the French labor market in the aftermath of large-scale layoffs in the manufacturing sector. We assess both individual and aggregate effects of these shocks, using a unique quantitative definition of mass layoffs. We first show that displaced workers suffer a long-lasting increase in the probability of being unemployed and, for those who find a job, a decrease in their salary. While mass layoffs entail costs for displaced workers, there is a possible social benefit if they result in productive reallocation of workers to the most innovative companies and in the creation of new firms. Remarkably, our findings indicate that firms that hire displaced workers exhibit lower investment rates, decreased value added, and a reduced workforce, with a higher proportion of employees on fixed-term contracts. Additionally, mass layoffs do not contribute to the enhancement of allocative efficiency, as the most skilled workers are less likely to be matched with the most successful establishments. Furthermore, we assess the extent to which local economies adapt to these shocks, revealing that, six years after the mass layoff event, the local unemployment rate is 12% higher in comparison to unaffected regions. Lastly, the affected areas experience a diminished share of new establishment creation.
Topic:
Employment, Economy, and Layoffs
Political Geography:
Global Focus

94. Xi Jinping’s Quantitative Easing Unlikely to Save Economy

Author:
Willy Wo-Lap Lam
Publication Date:
10-2024
Content Type:
Journal Article
Journal:
China Brief
Institution:
The Jamestown Foundation
Abstract:
In an apparent U-turn, the People’s Republic of China (PRC) has initiated stimulus policies that have boosted the stock market and are attempting to jump-start key sectors and meet the annual GDP growth target of 5 percent. In the last week of September, the central bank announced a package worth at least 2 trillion Renminbi (RMB; $280 billion), cut the banks’ reserve requirement ratio by 50 basis points, and hinted at further measures. The domestic and international response has been underwhelming, in part because the package leaves the economy even more overleveraged than before. President Xi Jinping’s attempts to enhance the PRC’s global stature, including through a recent ICBM test and by deepening support for Russia’s war in Ukraine and for other countries willing to denounce the United States and the West, will not help the domestic economic woes as they discourage foreign investment.
Topic:
Monetary Policy, Economy, Economic Growth, Investment, and Quantitative Easing
Political Geography:
China and Asia

95. CPR for the Turkish Economy: The 2001 Financial Crisis and its Aftermath

Author:
W. Robert Pearson
Publication Date:
02-2024
Content Type:
Journal Article
Journal:
American Diplomacy
Institution:
American Diplomacy
Abstract:
On February 19, 2001, at a formal government meeting, the president of Türkiye, Ahmet Necdet Sezer, accused the prime minister, Bulent Ecevit, of incompetent management of the country’s banking system and threw a copy of the Turkish constitutional code book across the table at him. The prime minister stormed out, called a press conference, and verbally attacked the president. Immediately, the stock market panicked, the lira plunged, and interest rates skyrocketed. My wife Maggie and I were celebrating a belated Valentine’s lunch that day. An embassy colleague rushed in to say the Turkish lira was crumbling. I called the prime minister and urged him to buy lira with Turkish reserves as fast as possible. He ignored my advice and by day’s end the lira was in the basement. Overnight, the savings of many ordinary citizens were devastated, and millions of dollars of value had vaporized. The causes of the collapse were many. Türkiye had experienced high inflation throughout the previous decade. The government had run large deficits and funded them with high interest bonds that avoided short-term defaults. The increased borrowing and growing public debt created a dangerous economic risk. The Turkish banking sector faced significant issues, including inadequate regulations, poor risk management, and high levels of non-performing loans. Many banks had debts that were difficult to collect. Türkiye depended greatly on foreign borrowing to finance its economic growth, but, as economic imbalances worsened, changes in investor sentiment added to concerns. Foreign investors withdrew over $70 billion from 2000 to 2001 as the economic situation deteriorated.
Topic:
Diplomacy, Financial Crisis, Economy, and Memoir
Political Geography:
Turkey and Middle East

96. Egypt’s Economy Amidst Regional Conflicts

Author:
Sahar Albazar
Publication Date:
10-2024
Content Type:
Commentary and Analysis
Institution:
The Washington Institute for Near East Policy
Abstract:
Egypt, strategically positioned in the heart of the Middle East and North Africa, is grappling with significant economic pressures exacerbated by regional conflicts and geopolitical instability. The multifaceted crises stemming from the Israeli-Palestinian war, the Sudanese civil war, Libya’s political disarray, and the Russia-Ukraine war have collectively intensified the economic strains on Cairo. These challenges not only impact Egypt's economy but also threaten regional stability. Given the challenges facing Egypt and the region, Cairo is expecting from the United States to play a supportive role towards its strategic partner in the region. The international perception of regional instability is affecting Egypt’s domestic economy; tourism accounted for over 24% of GDP and employing over 2.5 million. However, the perception of insecurity in neighboring countries has deterred international visitors. Tourist arrivals declined by an estimated 25-30% between 2010-2022 compared to pre-conflicts levels. The resulting drop in tourism revenue has placed an additional strain on Egypt's foreign exchange reserves and employment relies heavily on this sector for foreign exchange earnings and employment.
Topic:
Geopolitics, Economy, Crisis Management, Economic Crisis, and Regional Stability
Political Geography:
Middle East, North Africa, and Egypt

97. The Sudan's Incorporation into the Capitalist World-Economy through Modern Cultivation and Trade of Cotton

Author:
Abdullah Muhsin Yıldız
Publication Date:
06-2024
Content Type:
Journal Article
Journal:
Turkish Journal of Middle Eastern Studies
Institution:
Sakarya University (SAU)
Abstract:
Before the 19th century, the Sudan had a distinctive social system in which decentralized kingdoms held the political power. The article assumes that this intersocietal system entered a process of incorporation into the capitalist world-economy in the 19th century. Early modernization policies pursued in the Sudan during the Turco-Egyptian administration between 1821-1885 period, known as the Turkiyya. This rule shifted to the Anglo-Egyptian administration in 1899, after British forces defeating the short-lived Mahdist rule. Upon establishment of the new condominium government, the Sudan became a peripheral supplier of the expanding world economy. Throughout the peripheralization, the British gained control of raw materials such as gum arabic and cotton from the Nile valley, which were then transported to factories located in the mainland England. This article investigates economic incorporation process of the Sudan, specifically focusing on the Gezira Scheme, established with a colonial mentality, and mainly based on cotton production. The effect of this process was evident during the 1930s, when the country had been seriously impacted by the global economic crisis of 1929.
Topic:
Hegemony, Capitalism, Economy, Colonialism, Trade, and Cotton
Political Geography:
Africa and Sudan

98. The Issue of Food Security in Algeria: A Critical Analytical Reading of the Reasons for Failure

Author:
Adel Inezarene and Ariouat Intissar
Publication Date:
12-2024
Content Type:
Journal Article
Journal:
Turkish Journal of Middle Eastern Studies
Institution:
Sakarya University (SAU)
Abstract:
Achieving state security is considered one of the essential traditional goals of political systems, as states seek to ensure their national security at all levels. The concept of security has evolved beyond the traditional military concept to include political, social, and economic areas. The study addressed one of the important axes in achieving security, especially in recent times, which is food security. This article studies the topic of food security in Algeria and explains the failure of the various policies adopted by the decision-makers in achieving food self-sufficiency. The study concluded that this failure is due to multiple internal and external reasons, especially the rentier nature of the Algerian economy, which perpetuated the reliance on rent income in spending without considering serious policies to enhance food security.
Topic:
Food Security, Economy, State, and Rentierism
Political Geography:
Middle East, Algeria, and North Africa

99. From Dual Roles to Dynamic Equilibrium: An Overview of Theoretical Perspectives Used in Studies Addressing Work-Life Struggles of Working Mothers

Author:
Merve Gerçek
Publication Date:
04-2024
Content Type:
Journal Article
Journal:
Journal of Academic Inquiries
Institution:
Sakarya University (SAU)
Abstract:
There has been much scholarly attention given to the role of women in the labor market throughout the years. While there are plenty of evaluations of ideas and perspectives regarding work-life concepts, there is limited understanding regarding the theoretical foundation of work-life concerns specifically about mothers. This study aims to provide an overview of theories used to investigate the work-life issues of working mothers. The data were collected from the Web of Science database. A total of 63 research studies examining the work-life challenges faced by employed women were evaluated based on theoretical frameworks. It was seen that identity theory and gender perspective are dominant perspectives in the current literature. In addition, the prevailing work-life perspectives adopted in the studies are work-life balance and work-life conflict. The study offers a detailed examination of the various theoretical perspectives employed in understanding the work-life difficulties encountered by employed mothers.
Topic:
Labor Issues, Economy, Labor Market, and Mothers
Political Geography:
Global Focus

100. Policy Recommendation to Achieve a Carbon-Neutral Economy: The Case of Corporate Governance and Carbon Performance in Malaysia’s Smart Cities

Author:
Siti Indati Mustapa, Noor Raida Abd Rahman, Amar Hisham Jaaffar, Nor Salwati Othman, and Syarifah Mardhiah Syed Salim
Publication Date:
07-2024
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
This study explores the role of corporate governance in carbon-intensive and non-carbon-intensive companies within Malaysian smart cities. The paper aims to understand the challenges and impacts of corporate governance on carbon and financial performance. In the first stage, carbon emissions data from 51 Bursa Malaysia-listed companies were analysed, revealing that corporate governance had no significant impact on carbon and financial performance. However, variations were noted in carbon-intensive industries. Liquidity emerged as a key factor positively affecting carbon performance, while firm size and market-to-book value were the main drivers of financial performance. In the second stage, a survey of 256 firms highlighted a high level of awareness regarding the significance of carbon reporting practices. Challenges included complexity regarding carbon reporting and knowledge limitations. The study advocates for the centralisation of carbon accounting standards, sharing best practices, and fostering of global collaboration to bolster effective climate action. These findings offer empirical evidence crucial for informing policymakers, companies, investors, and regulators alike. Future research could expand with larger samples, explore digital technology’s role in smart cities, and compare carbon reporting practices globally.
Topic:
Climate Change, Economy, Smart Cities, Carbon Emissions, Corporate Governance, and Energy
Political Geography:
Malaysia, Asia, and Southeast Asia