International Economics最新文献

The importance of trade and technology for productivity: An empirical assessment across EU regions 贸易和技术对生产力的重要性：跨欧盟地区的实证评估

International Economics Pub Date : 2026-03-01 Epub Date: 2026-01-08 DOI: 10.1016/j.inteco.2025.100672

Alberto Tidu, Luigi Apuzzo, Stefano Usai

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引用次数: 0

Multilateral trade liberalization and preference erosion: the case of the United Kingdom Global Tariff 多边贸易自由化与优惠侵蚀：以英国全球关税为例

International Economics Pub Date : 2026-03-01 Epub Date: 2025-12-03 DOI: 10.1016/j.inteco.2025.100665

Maria Cipollina , Luca Salvatici

引用次数: 0

Mapping the transmission of global risk to African food markets 绘制全球风险对非洲粮食市场的传播情况

International Economics Pub Date : 2026-03-01 Epub Date: 2026-01-29 DOI: 10.1016/j.inteco.2026.100680

Josephine Ama Frempong

引用次数: 0

SPS and TBT measures through the lens of bilateral and GVC-related regulatory distance 通过双边和全球价值链相关监管距离的视角来看待SPS和TBT措施

International Economics Pub Date : 2026-03-01 Epub Date: 2025-12-29 DOI: 10.1016/j.inteco.2025.100674

Mahdi Ghodsi , Fabio Santeramo

引用次数: 0

Institutional quality, economic development and the performance of VAT 制度质量、经济发展与增值税绩效

International Economics Pub Date : 2026-03-01 Epub Date: 2026-01-14 DOI: 10.1016/j.inteco.2025.100671

Romain Houssa , Kelbesa Megersa

引用次数: 0

Do political parties shape global risk? Evidence from United States presidential leadership and geopolitical volatility 政党会影响全球风险吗？证据来自美国总统的领导力和地缘政治的动荡

International Economics Pub Date : 2026-03-01 Epub Date: 2025-11-19 DOI: 10.1016/j.inteco.2025.100658

Nasr G. Elbahnasawy , Osama D. Sweidan

{"title":"Do political parties shape global risk? Evidence from United States presidential leadership and geopolitical volatility","authors":"Nasr G. Elbahnasawy , Osama D. Sweidan","doi":"10.1016/j.inteco.2025.100658","DOIUrl":"10.1016/j.inteco.2025.100658","url":null,"abstract":"<div><div>This study investigates whether the political party controlling the U.S. presidency systematically influences the country's geopolitical risk profile. Using monthly data from 1946 to 2025, we employ a vector autoregressive framework to analyze the dynamic, contemporaneous, and conditional effects of presidential party affiliation on U.S. geopolitical risk. Our results reveal no significant direct effect of presidential party identity on geopolitical risk, suggesting broad institutional continuity in U.S. foreign policy. However, we uncover a statistically significant interaction effect: geopolitical risk rises during recessionary periods under Republican administrations, but remains stable under Democratic ones. This asymmetry supports theoretical arguments from the public choice and diversionary conflict literatures, indicating that foreign policy assertiveness may intensify when political ideology intersects with economic stress. In addition, we find that U.S. geopolitical risk is significantly influenced by international spillovers from the geopolitical risks of key allies and rivals. Our findings contribute to the literature on the political economy of foreign policy and provide valuable insights for policymakers, investors, and international observers seeking to understand how domestic politics, economic cycles, and external shocks interact to shape global risk dynamics.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"185 ","pages":"Article 100658"},"PeriodicalIF":0.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145622415","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The fiscal and current account nexus: Evidence from South Korea 财政和经常账户的关系：来自韩国的证据

International Economics Pub Date : 2026-03-01 Epub Date: 2025-10-25 DOI: 10.1016/j.inteco.2025.100651

Jaejoon Woo

{"title":"The fiscal and current account nexus: Evidence from South Korea","authors":"Jaejoon Woo","doi":"10.1016/j.inteco.2025.100651","DOIUrl":"10.1016/j.inteco.2025.100651","url":null,"abstract":"<div><div>How well does the twin deficits hypothesis fit South Korean data? This question is crucial because Korea's economy exhibits many characteristics of a small open economy, making it an ideal testing ground. The prospect of rising deficits and debt further underscores the importance of this inquiry. Korea has recently experienced one of the most pronounced debt buildups among advanced economies. Even more concerning, rapid population aging poses a bleak long-term fiscal outlook. Surprisingly, few recent studies have examined this issue for Korea. We fill this gap by carefully analyzing the twin deficits mechanism in Korea from 1986 to 2024. Our findings reveal a real-world case that aligns closely with the textbook small open economy model, thereby contributing to the literature. Across various specifications and measures of discretionary fiscal policy, our regression results consistently show that increases in the budget deficit tend to worsen the current account balance in an almost one-to-one relationship. Specifically, higher budget deficits deteriorate the current account and are accompanied by an appreciation of the real exchange rate, while movements in private saving and investment largely offset each other. Additionally, cointegration tests confirm the existence of a long-run relationship between the two balances.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"185 ","pages":"Article 100651"},"PeriodicalIF":0.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145578417","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Feldstein–Horioka puzzle revisited: Capital mobility stuck in traffic? 费尔德斯坦-堀冈之谜重现：资本流动受困于交通堵塞？

International Economics Pub Date : 2026-03-01 Epub Date: 2025-11-15 DOI: 10.1016/j.inteco.2025.100657

Wenjie Zheng

{"title":"The Feldstein–Horioka puzzle revisited: Capital mobility stuck in traffic?","authors":"Wenjie Zheng","doi":"10.1016/j.inteco.2025.100657","DOIUrl":"10.1016/j.inteco.2025.100657","url":null,"abstract":"<div><div>This paper reexamines the Feldstein–Horioka puzzle using data from the IMF World Economic Outlook (WEO) for 196 economies during the 1980–2024 period. Our analysis contributes to the literature through three key insights into capital dynamics. First, in contrast to previous studies, we find relatively low savings-retention coefficients among OECD countries, statistically significant at the 1% level. Second, cross-country comparison reveals pronounced U-shaped patterns in savings-retention coefficients, indicating substantial heterogeneity in capital flows between emerging and developing economies and advanced economies. Third, within-country estimates show that higher GDP per capita is linked to lower savings, implying that wealthier economies retain less. Between-country results indicate that advanced economies exhibit savings-retention coefficients than emerging and developing ones. Finally, we show that a low savings-retention coefficient is a sufficient but not necessary condition for high international capital mobility. As a result, tests of perfect capital mobility should be interpreted as relative rather than absolute measures. Overall, the results suggest that the puzzle persists mainly in emerging Asia economies, but its strength has been decreasing over time.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"185 ","pages":"Article 100657"},"PeriodicalIF":0.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145622289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Oil shock spillovers in emerging markets: Sectoral dynamics of demand, supply, and risk channels 新兴市场的石油冲击溢出效应：需求、供应和风险渠道的部门动态

International Economics Pub Date : 2026-03-01 Epub Date: 2026-02-13 DOI: 10.1016/j.inteco.2026.100682

Adnan Aslam

{"title":"Oil shock spillovers in emerging markets: Sectoral dynamics of demand, supply, and risk channels","authors":"Adnan Aslam","doi":"10.1016/j.inteco.2026.100682","DOIUrl":"10.1016/j.inteco.2026.100682","url":null,"abstract":"<div><div>This study investigates how disaggregated oil price shocks (demand, supply, and risk) propagate across emerging market equity sectors. Using quantile Granger causality and time-varying parameter vector autoregression extended-joint connectedness frameworks, the analysis captures both dynamic interactions and responses during major turmoil including US-China trade tensions, COVID-19 pandemic, and Russia-Ukraine conflict. Results reveal strong nonlinear and quantile-dependent effects: demand shocks peak under moderate market conditions, supply shocks affect defensive sectors via inflationary channels, and risk shocks exert pervasive systemic influence across all sectors. Connectedness analysis shows high spillovers, with sectors such as financials, industrials, and materials acting as major transmitters, while healthcare, utilities, and information technology largely absorb shocks. Network analysis further shows risk shocks as the dominant transmitter during crises, temporarily reversing to a net receiver during COVID-19. These findings highlight crisis-sensitive sectoral vulnerabilities, offering actionable insights for investors and policymakers in oil-sensitive emerging markets.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"185 ","pages":"Article 100682"},"PeriodicalIF":0.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147420654","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does military spending kill inclusive growth in Africa? The role of institutions 军事开支扼杀了非洲的包容性增长吗？机构的作用

International Economics Pub Date : 2026-03-01 Epub Date: 2026-02-09 DOI: 10.1016/j.inteco.2026.100679

Borice Augustin Ngounou

引用次数: 0