Russian knowledge-intensive services in international trade

This paper reviews the share of the Russian sector of knowledge-intensive services in the global market. The dynamics, structure, and geography of import-export operations in this sector is analyzed. The effectiveness of measures aimed at incentivizing the Russian export of knowledge-intensive services is assessed from the perspective of foreign trade institutions and tax mechanisms.     

Country size,trade concentration and trade instability: An alternative approach

Zusammenfassung Landesgr?βe, Handelskonzentration und Handelsinstabilit?t: Ein alternativer Ansatz. — Die Verwendung einer modifizierten Version des Gini-Hirschman Konzentrationsindex zeigt in Verbindung mit der geographischen und produktm?βigen Verteilung, daβ die Entwicklungsl?nder als Lieferanten ihrer wesentlichen Exporte eine bedeutendere Rolle spielen als früher angenommen wurde, wenn man haupts?chlich die Gr?βe bestimmter Exporte als Anteile der Gesamtk?ufe der Importl?nder dieser Güter betrachtet. Diese Bedeutung eines Landes als Lieferant von Gütern für seine wichtigsten Handelspartner bringt nicht unbedingt mit sich, daβ es sehr empfindlich gegenüber Exporterl?sschwankungen ist, selbst wenn es — gemessen durch den einfachen Gini-Hirschman-Konzentrationskoeffizienten — relativ hohe produktm?βige und geographische Konzentrationsindizes aufweist. Dieser Aufsatz untersucht auβerdem die Landesgr?βe in Relation zum kombinierten Handelsindex sowie zum Index der Handelsinstabilit?t, der nach der Coppockschen Log-Varianz-Methode ermittelt wird. Der in der Literatur über Handelskonzentration im allgemeinen vernachl?ssigte Importsektor wird ebenfalls im Lichte der genannten Analyse untersucht.

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Résumeé La dimension de pays, la concentration de commerce extérieur et l’instabilité de commerce extérieur: Une approche alternative. — En appliquant une version modifiée des Gini-Hirschman indice de concentration combinant la distribution géographique et de marchandises nous démonstrons que les pays développants sont des offrants plus importants de leurs exportations majeures qu’on croyait auparavant si on considère primairement le volume des exportations spécifiques comme rapport des achats totaux de ces produits spécifiques par les pays importants. La dimension de l’importance d’un pays comme offrant des produits vis-à-vis ses partenaires commerciaux majeurs ne veut pas dire nécessairement qu’il sera fortement sujet à des fluctuations des revenus exportatrices même s’il aurait des indices de concentration géographiques et de marchandises relativement hauts comme mesurés par le simple coéfficient de concentration de Gini-Hirschman. Cet article examine aussi la dimension de pays en relation avec l’indice combiné de commerce et subséquentement avec l’indice d’instabilité de commerce extérieur qui est computé en appliquant la méthode de log-variance de Coppock. Nous analysons aussi le secteur d’importation, qui est généralement ignoré dans la littérature sur la concentration commerciale en jour de l’analyse susdite.

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Resumen Tama?o de un país, concentración del comercio e inestabilidad comercial: una aproximación alternativa. — La utilización de una versión modificada del índice de concentración Gini/Hirschman, en que se combina la distribución geográfica y de productos, muestra que los países en desarrollo son oferentes más importantes de sus principales exportaciones de lo que previamente se creía, si se observa primeramente el tama?o de exportaciones específicas como participación en las compras de estos productos especificos por parte de los países importadores. La magnitud de la importancia de un país como oferente de productos para sus principaìes países compradores no significa necesariamente, que será altamente susceptible a fluctuaciones en los ingresos de exportación, a pesar de que puede tener índices de concentración geográfica y de productos relativamente altos, medidos por medio del indice de concentración simple de Gini/Hirschman. Este estudio también examina el tama?o de países en relación con el íncice de comercio combinado y, a la vez, con el indice de inestabilidad comercial que es computado por medio del método de varianza logarítmica de Coppock. El sector de importaciones, que generalmente ha sido ignorado en la literatura de concentración, también es analizado a la luz del presente análisis.

     

产权、交易费用、效率

最近看了很多关于产权和交易费用方面的书，本来是带着弄清楚的目的去看的，结果发现越来越迷糊了，也不知道大家有没有这样的感觉。想弄清楚产权和交易费用究竟指的是什么，但是发现不同的人有不同的看法，也就是说，现在有这么多的人在讨论产权和交易费用，说什么产权必须要明晰之类的话，但是对于产权究竟指的是什么，我认为他们未必弄清楚了，只是人云亦云而巳。在这里，我想就几个问题来谈谈我的看法。     

Variance analysis: A unifying cost function approach*

Abstract. This paper investigates the use of variance analysis when inputs are assumed to be substitutable. When input prices change after the budget is formulated, cost minimization behavior requires substitution of relatively cheaper input(s) for the more expensive input(s). An explicit incorporation of this substitution effect is necessary to provide proper incentives to production managers. The traditional variance analysis which depends upon “standards” is tantamount to assuming a fixed proportion production technology, even when inputs are substitutable. Thus the traditional variance analysis can yield a misleading and incorrect analysis which in turn can lead to a nonoptimal input combination. The paper provides a general framework for variance analysis which accounts for and, therefore, encourages substitution. Budgets are “flexible” not only with respect to output levels, but also with respect to input prices. The framework explicitly accounts for a new standard based upon realized conditions. To do so, a duality between production and cost functions is exploited so that the optimal input mix is obtained with ease under different price regimes. Four examples of cost functions are offered. They can be regarded as the new flexible standards which depend on both output levels and input prices. Résumé. L'auteur étudie l'utilisation de l'analyse des écarts lorsqu'on suppose que les intrants peuvent être substitués. Lorsque le prix des intrants change une fois le budget établi, le comportement de minimisation des coûts exige que l'on substitue un ou des intrants relativement plus économiques à l'intrant ou aux intrants plus dispendieux. L'incorporation explicite de cet effet de substitution s'impose si l'on veut offrir des stimulants appropriés aux gestionnaires de la production. L'analyse des écarts traditionnelle qui dépend des «normes» équivaut à supposer que la technologie de fabrication prévoit des proportions fixes, même lorsque les intrants peuvent être substitués. L'analyse des écarts traditionnelle peut donc mener à des observations erronées et incorrectes qui, à leur tour, peuvent mener à une combinaison d'intrants qui n'est pas optimale. L'auteur propose un cadre général pour l'analyse des écarts quitient compte de la substitution et, par conséquent, la favorise. Les budgets sont «variables» non seulement en ce qui a trait au niveau des extrants, mais aussi en ce qui a trait au prix des intrants. Le cadre tient compte de façon explicite d'une nouvelle norme fondée sur les conditions réalisées. Pour y parvenir, l'on exploite la dualité entre la production et les fonctions de coût, de sorte que la combinaison optimale d'intrants soit obtenue facilement compte tenu de différents régimes de prix. L'auteur présente quatre exemples de fonctions de coût qui peuvent être considérées comme de nouvelles normes souples dépendant à la fois du niveau des extrants et du prix des intrants.     

Explaining liberalization commitments in financial services trade

The paper examines the determinants of market access commitments in international financial services trade in the General Agreement on Trade in Services (GATS). Based on a theoretical model, it empirically investigates the role of domestic political economy forces, international bargaining considerations, and the state of complementary policy. The empirical results confirm the relevance of the model in explaining banking and (to a somewhat lesser degree) securities services liberalization commitments. The findings imply that those who seek greater access to developing country markets for financial services must do more to counter protectionism at home in areas of export interest for developing countries. JEL no. D78, F13, G20     

Rent-seeking and trade policy: An industry approach

Zusammenfassung Das Streben nach staatlich gesicherten Privilegien (rent-seeking) und Handelspolitik: Ein Industrie-Ansatz. - Das Streben nach einer ?konomischen Rente in der speziellen Form von Einkünften infolge von Staatsinterventionen wird hier in einem Modell dargestellt, das mit der Beobachtung übereinstimmt, daΒ Arbeitnehmer und Management innerhalb eines Industriezweigs fast immer die gleiche Haltung einnehmen, wenn es um die Frage: “Importschutz oder Handelsliberalisierung?” geht. Der Aufsatz diskutiert auch die H?he der Ertr?ge des Strebens nach staatlich gesicherten Privilegien und Pfründen im Verh?ltnis zu den Lobby-Kosten, ferner die Faktoren, die die von Industriezweigen erwünschte Regierungshilfe beeinflussen, und schlieΒlich M?glichkeiten, mit denen die Vor-und Nachteile der Protektion sowohl den jeweiligen Industrien als auch der breiten ?ffentlichkeit deutlicher vor Augen geführt werden k?nnen.

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Résumé ?Rent-seeking? et la politique commerciale: une approche d’industrie. - Le modèle de ?rent-seeking? présenté dans cet article est consistant avec l’observation que les travailleurs et le management dans une industrie adoptent presque toujours la méme position si l’on doit choisir entre la protection d’importation et la libéralisation commerciale. L’article discute aussi la dimension des rendements de ?rent-seeking? en relation aux frais de lobby, ensuite des facteurs qui influencent le type de l’assistance gouvernementale aspirée par une industrie, et enfin des possibilités avec lesquelles on peut faire comprendre clairement les bénéfices et les coüts de la protection aux industries concernées et au public général.

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Resumen ?Rent-seeking? y politica comercial: un análisis a nivel sectorial. - El modelo de ?rent-seeking? presentado en este trabajo es consistente con la observation de que trabajadores y ejecutivos de un sector industrial casi siempre adoptan la misma position tanto frente a medidas de restriction a las importaciones como a medidas de liberalization del comercio. Esta ponencia también analiza el nivel de los beneficios del ?rent-seeking? en comparaci?n con los costos de ?lobbying?, los factures que influencian el tipo de apoyo estatal que el sector industrial desea lograr y las formas en las cuales se pueden dar a conocer los beneficios y los costos de la protection a las industrias afectadas y al público en general.

     

Food crisis and export taxation: the cost of non-cooperative trade policies

This paper aims to assess the rationales for export taxes in the context of a food crisis. First, we summarize the effects of export taxes using both partial and general equilibrium theoretical models. When large countries aim to maintain constant domestic food prices, in the event of an increase in world agricultural prices, the optimal response is to decrease import tariffs in net food-importing countries and to increase export tariffs in net food-exporting countries. The latter decision improves national welfare, while the former reduces national welfare: this is the price that must be paid to keep domestic food prices constant. Small net food-importing countries are harmed by both decisions, while small net food-exporting countries gain from both. Second, we illustrate the costs of a lack of regulation and cooperation surrounding such policies in a time of crisis using a global computable general equilibrium (CGE) model, mimicking the mechanisms that appeared during the recent food price surge (2006–2008). This model illustrates the interdependence of trade policies, as well as how a process of retaliation and counter-retaliation (increased export taxes in large net food-exporting countries and reduced import tariffs in large net food-importing countries) can contribute to successive augmentations of world agricultural prices and harm small net food-importing countries. We conclude with a call for international regulation, in particular because small net food-importing countries may be substantially harmed by those policies that amplify the already negative impact of a food crisis.     

Chinese and Indian Multinationals: A Firm-Level Analysis of their Investments in Europe

Abstract

This paper contributes to the literature on Chinese and Indian multinationals investing in Europe through an empirical investigation about their identity, their characteristics and the association between their features and their international strategies. The investigation exploits a database, named EMENDATA (Emerging Multinationals’ Events and Networks DATAbase), at the level of the investing firms. In relation to the mode of entry, we find that greenfield investments are a more likely option for large-sized companies. Moreover a high propensity for innovation is associated with a high probability to enter with an acquisition and with technological asset-seeking investments. Finally, high profitability is needed to invest in the EU-core countries.     

How trade in ecotourism services can save nature: a policy scenario analysis

This article considers a developing country which is abundant in a non-renewable natural resource but scarce in industrial goods. The resource can be used for consumption or for exporting ecotourism services. The article examines scenarios in which technical progress, rising demand for tourism services and higher preferences for the environment reduce today's optimal depletion of the resource. Myopic behaviour and future terms-of-trade gains, however, encourage overexploitation of the resource. As a remedy, the article derives the socially optimal subsidy for the conservation of the resource and discusses North–South transfer schemes which save nature via trade in ecotourism services. Numerical examples suggest that under optimistic assumptions a subsidy rate of about 10% would suffice to preserve the natural resource in the developing country for the provision of tourism services. The resulting cost burden would represent less than 0.03% of the Northern GDP.     

Location Choice and Employment Decisions: A Comparison of German and Swedish Multinationals

Using data on German and Swedish multinational enterprises (MNEs), this paper analyzes determinants of location choice and the degree of substitutability of labor across locations. Countries with highly skilled labor strongly attract German but not necessarily Swedish MNEs. In MNEs from either country, affiliate employment tends to substitute for employment at the parent firm. At the margin, substitutability is the strongest with respect to affiliate employment in Western Europe. A one percent larger wage gap between Germany and locations in Central and Eastern Europe (CEE) is associated with 760 fewer jobs at German parents and 4,620 more jobs at affiliates in CEE. A one percent larger wage gap between Sweden and CEE is associated with 140 fewer jobs at Swedish parents and 260 more jobs at affiliates in CEE. JEL no. F21, F23, J21, J23     

营销渠道一体化程度的选择——从渠道评价标准和交易成本角度分析

本文从生产制造企业的视角，对如何合理安排营销渠道结构进行研究。我们首先运用营销渠道评价标准评价不同一体化程度下渠道功能的表现，以此来说明一体化营销渠道的优劣势。然后，通过援引交易成本分析理论，更加精细的给出营销渠道不同程度一体化的选择条件。最后，给出交易成本分析与渠道评价标准的关系。     

中间组织的成因:一个交易费用经济学视角的扩展分析

协调经济活动有不同的制度形式：经济理论主要关注通过价格机制这只“看不见的手”来进行的市场协调；组织理论则更注重通过等级制这只“看得见的手”来协调企业的内部行为，市场和企业被视为两种最重要的协调制度形式。但事实上，在市场和企业之间并不存在明确的界限，它们之间相互渗透，产生了复杂多样中间组织，正如威廉姆森所说，大量的交易是在中间组织中进行，中间组织才是普遍的形式。本文试图在探讨中间组织的内涵特征、性质等问题的基础上，用交易费用经济学的分析方法对其成因进行扩展分析。     

International trade and economic growth: evidence from a panel ARDL-PMG approach

The purpose of this work is to study the impact of trade openness on the economic growth of the countries bordering the Mediterranean using a panel of eight countries from 1975 to 2016. We apply ARDL panel which is a technique recently developed. We study the effects of openness to international trade on economic growth while incorporating economic policy variables. The results show that the variables of commercial and financial openness favor economic growth. The free trade agreements that the European Union has signed with certain countries in the Mediterranean basin are designed above all to encourage greater regional economic integration and an increase in their potential growth. Therefore, our findings show that the financial sector is slow to affect economic growth in these countries. This study reveals that human capital and the investment rate support the economic growth of our sample. In addition, we conclude that a process of economic convergence has begun in these countries. A causal analysis was carried out we found an unidirectional causality ranging from economic growth to trade openness.

     

MERCOSUR in gravity: an accounting approach to analyzing its trade effects

This paper aims at unveiling the roots of integration-induced trade effects for MERCOSUR. For this purpose, its methodology combines previous dummy-variables- and continuous variable approaches to identifying trade creation and trade diversion effects in a gravity model framework. Applying a straightforward accounting exercise to the integration-induced trade effects which are found for MERCOSUR en bloc, two results are central: Firstly, with sectoral exceptions, I generally identify pure trade creating effects on the import side but also find trade diversion with associate countries when refining extra-bloc country status. Secondly, while extra-bloc import growth seems to be driven predominantly by non-tariff determinants, trade creation in pooled commodity imports for the largest fraction stems from differences in the tariff treatment between trading partners.     

Changes in services trade barriers in banking and their impact: the case of the ASEAN+3

Although there has been extensive research on the ASEAN+3 countries, which reveals a synchronisation of economic policies, including exchange rate management policies, research on the regional pattern of trade policies in the banking sector is limited. We evaluate the trade barriers in banking and their evolution, using data from three sequential surveys conducted by the World Bank and surveys by other international organisations. We find that the country dispersions in trade‐restricting policies are stable over time. Moreover, we find no evidence of moves in the direction of liberalisation in the sector. The economic modelling undertaken provides an indication of the real income gains and the cost increases of the policies adopted.