Do Chinese and Korean products compete in the Japanese market? An investigation of machinery exports

The purpose of this paper is to examine whether and to what extent Chinese and Korean products in the machinery industry compete with each other in the Japanese market. Empirical tests of panel data of 16 machinery products from 2000Q1 to 2012Q2 show that a decrease in the unit prices of Chinese exports leads to a decrease in the demand for Korean exports. In contrast, a decrease in the unit prices of Korean exports does not lead to a decrease in the demand for Chinese exports. In addition, lagged Chinese prices have bigger impacts on current Korean prices than lagged Korean prices on current Chinese prices. Simulation experiments investigating the impacts of a change in exchange rates on the Chinese and Korean export volumes also confirm that the Korean variables do not affect the Chinese export volume as much as the Chinese variables affect the Korean export volume. Overall, the findings in the present paper indicate that China has already emerged as a formidable competitor to Korea in the Japanese machinery market.     

How much do tariffs matter? Evidence from the customs union of Belarus,Kazakhstan and Russia

This paper provides an empirical analysis of the early impact of the formation of the customs union of Belarus, Kazakhstan and Russia, and associated changes in import schedules on the structure of imports. Relying on an original data-set of statutory tariffs we find that trade creation effects were significant only in trade between Russia and third countries, but that there was some trade destruction, with a significant negative impact on imports from China to Kazakhstan and Russia, and on imports from the EU to Belarus. However, the magnitude of this effect is relatively small, suggesting that the benefits of the new tariff policy per se are limited at best.     

Exchange rate and foreign GDP elasticities of Swiss exports across sectors and destination countries

This article uses a detailed breakdown of Swiss trade flows to identify how the impact of the two main determinants of Switzerland’s exports – foreign demand and the real exchange rate – varies across sectors and export destinations. Our main findings are that (i) both foreign demand and exchange rate elasticities vary substantially across both export sectors and export destinations. (ii) Foreign demand trends are more important for structural considerations than the exchange rate. This is due to the fact that exports of the two largest export sectors are relatively sensitive to long-run foreign demand developments while they are relatively insensitive to changes in the exchange rate. (iii) The sectoral structure of Switzerland’s exports has shifted towards goods that have a lower short-run demand elasticity and a higher long-run demand elasticity. Goods exports are thus less influenced by business cycle fluctuations while they benefit more from long-term growth trends. (iv) The export share of sectors with a relatively low exchange rate elasticity has increased. However, this result is mainly driven by the strong rise in exports of chemicals and pharmaceuticals as well as precision instruments and watches, which are also the two important sectors responsible for the Swiss trade surplus.     

Geographical indication and wine exports. An empirical investigation considering the major European producers

Adopting a gravity framework and using data from 1995 to 2009 for France, Italy and Spain, we investigate whether the designation of the production area has a positive pay-off in terms of greater export values, volumes and presence in different export markets. We find that quality wines produced in specified regions (QWPSR) are associated with higher exports values, while higher export volumes tend to materialize only towards high-income destination markets. Besides, the geographical designation appears increasing the extensive margin of trade. Therefore, QWPSR may represent a strategic tool for differentiation granting competitiveness in both traditional and less habitual markets. Not all producers, yet, seem to have benefited to the same extent from the geographical designation, raising the question of what harmonizing and/or promotional strategy should be adopted to enhance the effectiveness of the quality wine protection system.     

Trade policy,export expansion,human capital and growth

This paper empirically investigates the impact of trade policy on export expansion and on GDP growth in developing countries while controlling for the human capital stock and the initial level of development. By using a simultaneous system estimation we unite the approach found in the export expansion and growth literature with the approach found in papers that estimate the effect of trade policy on growth, while also making several improvements in the estimation of the underlying relationships. The results obtained from our estimation are more credible because of these improvements and therefore have stronger policy implications. We find that outward-oriented trade policies substantially and significantly impact growth in developing countries not only by directly enhancing exports but also through a feedback (or multiplier) effect.     

深圳港口发展及其影响因素——基于协整模型实证

本文首先从经济结构、第三产业服务业水平和港口吞吐量对比分析了香港与深圳两地的经济环境,提出了深圳港口在新时期里发展的重要性。进一步基于协整模型分析第三产业增加值和进出口贸易总额与港口吞吐量的长期均衡关系,探析第三产业和进出口贸易在港口发展的长期影响和短期动态影响机制,并对未来深圳港口业发展及其提升提出相关政策建议。     

Notes

Editor's Note: Starting with this issue, the Journal will include a new section to accommodate a growing prevalance of shorter articles with single-issue orientation.     

关于我国服装出口亟待自主品牌国际化的研究

一流企业卖品牌,二流企业卖技术,三流的企业卖产品,四流企业卖苦力。我国是服装制造大国,但不是服装创造大国。为了应对国际金融危机,国际贸易贸易摩擦和纠纷、提高国际化经营的效益,必须改变90%靠贴牌生产出口的局面,亟待发展服装自主品牌出口,转变服装出口增长方式。本文通过服装自主品牌识势、品牌蓄势、品牌造势、努力提升打造品牌的执行力,不仅要打造服装自主品牌出口,而且要形成服装自主品牌国际化经营之势,从而实现由OEM向OBM的转变,实现由服装生产大国向服装品牌大国的跨越。     

Marketing Sustainable Farming Food Products in Europe

Abstract

There is no specific market for sustainable farming food products. Sustainability is inconceivable to consumers. In eating behaviour, the principle of precautionary results in a need for safety and authenticity. Consumers search for organic, native tang, regional or typical products. Food with Designation of Origin gives a meaning to taste. For sustainable farming, the future will be dependent on the valorisation of these products. Arrival of highly technological products should result in a compensatory demand for food with Designation of Origin. Sustainable farming food products must use a specific marketing mix. Marketing approach is not far removed from sustainable farming: respect the consumer as we should respect the Earth.     

Foreign direct investment and exports The experiences of Vietnam1

We examined the implementation statuses of a total of 5,919 foreign direct investment (FDI) projects approved by the Vietnamese Ministry of Planning and Investment since 1988, and compiled a database of actually disbursed FDI in Vietnam. The database covers FDI flows into Vietnam from 23 countries from 1990 to 2004. Using the data, we analyzed the impact of FDI on the exports of Vietnam with gravity equations. The empirical results demonstrate that FDI is one of the major factors driving the rapid export growth of Vietnam. It has significantly facilitated the expansion of Vietnam's exports to FDI source countries. In particular, the empirical analysis shows that a 1 percent increase in FDI inflows will be expected to give rise to a 0.13 percent increase in Vietnam's exports to these countries.