Impact of International Trade,Remittances and Industrialization on the Economic Growth of Bangladesh

There are several important factors of growth and many endeavors have been made to apply these factors to explain the growth of different economies at different times. In this context, the objective of this paper is to examine the impact of international trade, remittances and industrialization on the economic growth of Bangladesh using annual data from the period of 1976 to 2010. This study uses the time series econometrics methodology, which covers tests for stationary, cointegration, and specification of the model. This study also focuses on finding causal relationship among export, import, remittances, and industrialization on the economic growth of Bangladesh by using Granger causality test. The result shows that the variables are cointegrated, implying a long-run causal relationship among export, import, remittances, and industrialization on the economic growth of Bangladesh.     

Impact of openness, economic policy reform and regional shocks on trade and growth of Thailand： An econometric study

Thailand has currently enhanced and promoted intensive trade and investment liberalization and implemented long-term growth policy according with current regional economic integration, WTO obligations and globalization. Nevertheless, several recent internal and external factors e.g. the massive SARS and avian flu outbreaks, the Indian Ocean tsunami devastation, the Asia financial crisis and domestic policy reforms （ICSEAD, 2006） have also impeded this policy. While the issues are important for Thailand and developing countries in Asia, only limited research has been undertaken to investigate them. The paper conducts a substantive quantitative study to contribute to these trade and development policy issues. A new econometric modelling policy method, namely the generalized gravity theory （Tran Van Hoa, 2004） is used to develop a simple flexible simultaneous-equation econometric model of Thailand＇s openness model with its seven major trade partners （ASEAN-4, Australia, the USA, the EU, China, Japan and India）. Using data from the ICSEAD, the World Development Indicators and the Bank of Thailand databases, the paper reveals efficient and reliable empirical findings on trade-growth causality, trade determination including the impact of shocks and policy reform on trade and growth between Thailand and its major trade partners over the past two decades. The paper also provides evidence on the linkages between trade in goods, FDI and services and regional economic integration for more credible policy implications.     

Soybean Production ＆Trade in China-Implicated Impacts of GMO Regulation on Soybean Market

This paper provides an overview of the economic analysis, policy debate, and methodological issues on soybean production, import and export, and impacts of GMO regulation on soybean foreign trade of China, Thepaper analyzes China‘s soybean production capability, and discovers that the present yield of China‘s soybean plant system cannot satisfy the domestic demand. The paper also provides the method to solve such matters by using the result of a modftTed Cobb.Douglas model, in the third section of this paper, the impacts of GMOregulation on soybean trade and market in China are analyzed, fn this section, we provide a methodological issue to analyze the impacts of such regulation on trade. The paper then explains the implicated result induced by such regulations.     

Sino-European Trade Competition in Latin America and the Caribbean

The article studies trade in goods between China and the Latin American and Caribbean （LAC） countries and between the European Union （EU） and LAC during the years from 2000 to 2013. From the beginning of the 21st century, big changes in LAC＇s trade patterns have been observed. The article contains possible explanation of them. The analysis is based on the ECLAC （Economic Commission for Latin America and the Caribbean） data. Merchandise trade between China and LAC grew significantly over the period from 2000 to 2013. In 2013, the value of merchandise exports from China was higher than from the EU-28 in the case of 12 LAC countries. Chinese imports of goods surpassed the European ones in five countries in the region. In order to increase its exports of manufactured goods and imports of natural resources and agricultural commodities, China combines trade arrangements with foreign aid policy. Besides, a rapid development of bilateral diplomatic ties between China and LAC is observed. The EU-LAC trade relations have worsened during the last decade mainly due to financial crisis and development of the EU-Asia trade relations.     

Human rights and political and economic instability

The purpose of this paper is to use cross country regression analysis on a large set of countries from around the world for the year 2007 to test the hypothesis that greater instability, political or economic leads to reduced levels of human rights. The results of the paper＇s econometric analysis tend to support the hypothesis that increased levels of either political instability or economic instability are detrimental to human rights within countries.     

How Green is China＇s Path of Catching Up？ An International Comparative Evaluation

China＇s rise as a global economic power in recent decades has been achieved with tremendous environmental costs. Has China been an abnormally heavier polluter in its development path？ How has pollution accounted for China＇s hyper economic growth？ This study answers these questions by evaluating the environmental effects of China＇s growth using a data set of 61 countries over a period of four decades. The analysis is focused on two pollutant emissions： CO2 emissions, which carry global externalities, and particulate emissions, of which the environmental cost is more domestic. A fractional polynomial （FP） regression model is estimated to project emissions levels per worker based on lagged values of per capita GDP and other variables. It reveals that China＇s CO2 emissions have been higher than the projection for most years with an average margin of over 5.3% while its particulate emissions have exceeded projection by an average margin of more than 7.5%. The excessive emissions levels of both pollutants confirm the severity of China＇s environmental challenges and indicate great potential for the economy to work for a greener growth pattern. On the other hand, contributions of emissions to multi-factor productivity （MFP） growth are estimated by FP regressions based on a human-capital augmented growth model. The results show opposing trends of CO2 and particulates in their ＂contributions＂ to GDP growth, which imply asymmetric incentives to abate the two types of pollution. These findings have important implications for China＇s environmental policy making.     

Expanding the US-China cooperation on service programs： New opportunities for both countries

For years, the US and China have cooperated closely on manufacturing programs, which helps China become the world manufacturing center. While they both have gained much from the cooperation, there are also increasing frictions, disputes, complains and dissatisfaction with each other because of the huge trade unbalance problem and other significant issues. The US is eager to expand export to China, but China seems hesitating to decide what to import from the US. This paper presents an analysis about the benefits of the US-China cooperation with a primary focus on the service sector, which remains a large and untapped opportunity for China. The goal of the paper is to explore a new route to relieve the trade balance issues as they separately impact both nations. While focusing on analyzing several immediate opportunities, the paper also investigates several new ideas that rest on technology as well as entrepreneurial development.     

Impact of Financial Development on the Environmental Quality in Iran

In recent decades, undesirable environmental changes, such as global warming and greenhouse gases emission, have raised worldwide concerns. In order to achieve higher growth rate, environmental problems emerged from economic activities have turned into a controversial issue. The aim of this study is to investigate the effect of financial development on environmental quality in Iran. For this purpose, the statistical data over the period from 1970 to 2011 were used. Also by using the Auto Regression Model Distributed Lag （ARDL）, short-term and long-term relationships among the variables of model were estimated and analyzed. The results show that financial development accelerates the degradation of the environment; however, the increase in trade openness reduces the damage to environment in Iran. Error correction coefficient shows that in each period, 53% of imbalances would be justified and will approach their long-run procedure. Structural stability tests show that the estimated coefficients were stable over the period.     

Education and sustainable development in Romania and the European Union countries

The sustainable development supposes a development strategy that would ensure the interdependence and complementarily of objectives from the social, economic and environmental fields. The degree of priority established for the three dimensions of sustainable development differs from one country to another, a fact that confers a national and local meaning to this issue. For the Central and Eastern European countries, balanced economic development represents one of the fundamental objectives of the reforms started in 1990. Education represents a priority of any country＇s economic development and an extremely important element of economic growth. This paper presents the characteristics of the Romanian educational system while achieving a comparative analysis regarding different countries of the European Union, both from a quantitative viewpoint （using the main indicators in the education field） and a qualitative viewpoint （using student performances in international evaluations）. In the end, we present some proposals for the improvement of the present state of the Romanian educational system.     

＂Convergence＂ or ＂Divergence＇？ --Rethinking Regional Integration of the Past Two Decades

The European Union （EU）, North American Free Trade Agreement （NAFTA） and Association of Southeast Asian Nations （ASEAN） are the three biggest regional economic cooperation organizations in the world. What roles have these three organizations played in both domestic development and the evolving global trend of regional integration？ This paper investigates the inequality among these three organizations for regional economic cooperation based on cross-national parallel data from thirty-nine countries over the period 1989-2008. By using the Theil index decomposition, this paper finds that the interregional disparity is the main source of inequality. This paper also finds that intraregional disparity rose significantly from the mid-1990s. ASEAN contributes an equalizing force to the change, while NAFTA contributes a disequalizing force. From the empirical tests based on the Barro non-linear growth regression model, our results show that the whole sample and some subregional samples （ASEAN and EU） support the convergence hypothesis. ASEAN＇s convergence speed is the fastest, which testifies to the fact that the convergence speed of the transition path is faster than the long-term path.     

Effects of Trade and Financial Links on the Transmission of GDP Growth

Using panel analysis of quarterly data from 14 developed countries between 1980 and 2012, I examine the channels by which GDP growth transmission has taken place, and how the transmission of growth has varied with time and global growth. I find that countries with large, open banking sectors and trade deficits tend to transmit growth more strongly than other countries. Transmission effects seem to have become stronger over time and are stronger in periods of slow economic growth.     

Threshold Effects in the Capital Account Liberalization and Foreign Direct Investment Relationship

This paper examines how capital account liberalization （CAL） affects foreign direct investment （FDI） inflows. Authors use a dynamic panel model encompassing 14 Middle East countries over the period from 1985 to 2009. The findings suggest that countries that are able to reap the benefits of the capital openness policy satisfy certain threshold conditions regarding the level of financial development and institutional quality. Thus to promote FDI, governments in this region should develop a set of policies that not only focus on financial openness, but also on the improvement of the financial system and legal institutions.     

A study of environmental impact on manufacturing products trade in Shandong,China

Based on the situation that the trade of manufactured goods takes the main position in Shandong Province,this paper identifies Shandong industrial pollutant discharge by three indices,which are industrial effluent discharge,industrial SO2 emission,and solid waste disposal.Furthermore,it conducts an empirical analysis of the trade terms of pollution content transfer on nine identified industrial sectors.The conclusion is that the increase in industrial effluent discharge,industrial SO2 emission,and solid waste disposal has paralleled the growth of the GDP in Shandong.The rapid economic growth brings obvious negative impact on the environment.Compared with that in 1998,the increase in the pollution content of exports in 2007 indicated that more environmental costs were generated with the economic development in Shandong.There is a need for optimization of foreign trade structure in Shandong,especially the need for increasing import of the pollution intensive products and decreasing the export of the pollution intensive products.The research on the relationship between manufactured goods trade and the environmental impact will make a contribution to the adjustment of foreign trade and environmental policies.     

Impact of Selected Insolvency Indicators on the Recoveries of Creditors＇ Claims Against Closed Banks in the Philippine Context

Banks play a pivotal role in an emerging economy. They mirror the country＇s political and economic status. The more savings deposited in banks would mean the availability of cash provided to users of funds. On the other hand, their closure affects the creditors. The goals of the study include the minimization of losses imposed on creditors and the expeditious recoveries of their claims against the closed banks＇ assets. The study proved on the four significant impacts of selected insolvency indicators on the recoveries of creditors＇ claims against the assets of closed banks under the Philippine context from 1961 to 2011. The study uses various methods such as Pearson product-moment correlation coefficient to establish the strength of association of the independent variable to the dependent variable and time series technique （moving average and trend forecasting） in order to observe the pattern of data over a known period of time. Using the regression analysis, the researchers were able to establish a regression model. The ANOVA test, f-test, and R2-test were used to prove the model＇s goodness-of-fit, the significance of the predictors, and verification of the assumption of regression hold. Empirical evidence reveals that capital to estimated realizable value of assets ratio （ERVA） and debt to assets ratio （with respect to ERVA） were significant predictors of recovery. Further, the presence of high leverage on banks indicates that their liabilities exceed the value of their realizable assets. Thus, these banks fail to meet their maturing obligations, hence, imposing losses on the uninsured depositors and other creditors.     

Advancing the Multilateral Regional Cooperation in Economy and Trade with the Scheme Reform of Zero Tariffs

China＇s tariff arrangement in the transition period after ＂entry to WTO＂ influences the process of the multilateral trade system in the world. Establishing the free trade area and customs union according to WTO/GATS 1994 article 24, or according to authorizing the clause （Enabling Clause ） to sign the regional trade agreement between developing countries or signed the protocol of economic integration taking promoting and serving the liberalization of trade as purpose according to WTO/GATS article 5, include the regional trade agreement in the multilateral trade system frame to standardize, supervise and coordinate to China, reduce trade protectionism and improve the multilateral trade system＇s influence in the world greatly. Drawing lessons from CEPA and China the system of the manoeuvre ahead of time of overall ＂entry to WTO＂ of ASEAN Free Trade Area and arrange, accelerate multilateral regional cooperation in economy and trade, zero tariff scheme reform favors route choice.     

Cooperation Between Co-operative Business Organization and Investor Owned Firm to Stimulate Economic Growth of a Country： A Cooperative Advantage Approach

This study elaborates that the economic growth of a country depending on not only the business performance of the investor owned firms （IOFs）, but also the business surplus of the cooperative organizations （Co-ops）. The policy maker should have the level of understanding and competence to blend five different factors related to organizational structure and business model of the Co-ops and the IOFs to the five similarities factors on the managerial approach of them into one marked. The study investigated five similarities factors and included into a conceptual structural model with its six measurement models, economic growth model, general national factor model, market and industry factors model, Co-ops/IOFs opportunities/threat model, Co-ops/IOFs strength /weakness model, and lastly the Co-ops/IOFs firm dynamic/active： sales, profit, and lost model. Reliability of the six similarities measurement models was tested by the Delphi technique with a sample of 33 respondents. The study found that, apart from the six measurement models, it also has two intervening factor variables that will reduce the power and magnitude of the economic growth which will come from mismanagement of policy maker： These factors are the different in intemational culture among countries, and the global warming and natural disaster from the excess consumption and excess production. These selfish, competition and economic greedy of people will lead to economic, social, and natural disaster problems. To reduce the socioeconomic disadvantages and global disaster, board＇s committee, and Co-ops manager as well as chief executive officer （CEO） of the IOFs must have a good understanding on these five similarities factors. Appropriate management of these five similarities factors will lead the firms to reach their high managerial efficiency, customer value, firm value, and finally economic growth.     

Resource constraint,sustainable economic growth pattern and transformation of economic system in China

Over the past 20 years, China has made spectacular achievements in economic growth as well as in thetransformation of economic growth pattern. Industrial structure is being updated, and technology is playing a more andmore important role in economic development. The energy and resource consumption in many industries and enterprisesare reducing. However, we should realize that there are still many problems in changing the economic growth pattern,such as high input, high consumption, high discharge, inharmony, recycling difficulty, and low efficiency, which havegreatly impaired and restrict Chinese economic development. Therefore, the fundamental change of the economic growthpattern is inevitable. Based on the analysis on the status quo and the exploit of resources, this paper suggests that thetransformation from unsustainable to sustainable growth is the only choice in changing the economic growth pattern. Inaddition, the transformation should not completely rely on the fundamental effects of market mechanism. We should makefull use of the power of governments to speed up the transformation of economic system.     

The Analysis of High Exchange Reserve and High National Saving in China

High resident saving and high foreign exchange reserve are the inevitable products in China during the period from planned economy to market economy, and there is high correlation between them. On the one hand, this kind of economic phenomenon can＇t persist in a long time; on the other hand, to implement relevant fiscal and monetary policy, foreign trade policy, and foreign exchange management policy to change them in view of their negative effects to present economy is one of the present economic tasks.     

The obstacles of China＇s economic transformation

In the past 30 years, China has gone from the transformation from a planned economy to a market economy, from the extensive economic growth mode to intensive economic growth model, and from relying on investment and export-led economy to relying on domestic demand and stimulating economic. China＇s economic transformation includes three parts： The first is the reform of economic system, the second is the change in the pattern of economic growth and the third is the adjustment of economic structure. This article describes the historical evolution and the reality of China＇s economic transformation, analysis the obstacles to China＇s economic transformation, and on this basis, put forward some suggestions.     

Trade Politics： A Brief Survey of International Political Economy

International political economy has already been shown to be powerful to explain the global trade growth. In this paper we offer a brief survey of international political economy of trade policy. In addition to this, we also try to address three questions： （1） How does electoral competition affect trade policy？ Suppose two parties compete for the power over trade policy, would the two parties choose the same tariff？. （2） We observe that the US tariffs decline over time, so do the declining U.S. tariffs lead to the fall of the Democratic vote share in the election？ （3） What is the relationship between trade globalization and political liberalization？ Put it another way, how does trade affect democracy？ And conversely, how does democracy affect trade？