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Does financial inclusion increase participation in global value chains? Evidence from African countries 普惠金融能提高全球价值链参与度吗?来自非洲国家的证据
International Economics Pub Date : 2025-06-24 DOI: 10.1016/j.inteco.2025.100618
Dieudonné Mignamissi , Simplice A. Asongu , Eric Xaverie Possi Tebeng , Yolande E. Ngoungou
{"title":"Does financial inclusion increase participation in global value chains? Evidence from African countries","authors":"Dieudonné Mignamissi ,&nbsp;Simplice A. Asongu ,&nbsp;Eric Xaverie Possi Tebeng ,&nbsp;Yolande E. Ngoungou","doi":"10.1016/j.inteco.2025.100618","DOIUrl":"10.1016/j.inteco.2025.100618","url":null,"abstract":"<div><div>The present paper assesses how financial inclusion promotes the participation of Africa in global value chains (GVC), contingent on financial development and institutional quality. We consider 32 African countries over the period 2004–2018, and rely on fixed effects regressions and the Lewbel (2012) instrumental variable technique. Our findings show that financial inclusion promotes the participation of countries in GVC. Moreover, financial development and institutional quality are mechanisms by which financial inclusion indirectly promotes the participation of corresponding countries in GVC. It follows that financial inclusion has both direct and indirect positive effects on GVC participation. Our results underscore the need for integrated policy frameworks that strengthen inclusive finance, deepen financial sector development, and improve institutional quality to boost African economies’ participation in international production networks.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"183 ","pages":"Article 100618"},"PeriodicalIF":0.0,"publicationDate":"2025-06-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144588832","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
Evaluating the combined effects of inspections and technical assistance on international trade 评价视察和技术援助对国际贸易的综合影响
International Economics Pub Date : 2025-06-20 DOI: 10.1016/j.inteco.2025.100613
Linda Fernandez , Monica Das
{"title":"Evaluating the combined effects of inspections and technical assistance on international trade","authors":"Linda Fernandez ,&nbsp;Monica Das","doi":"10.1016/j.inteco.2025.100613","DOIUrl":"10.1016/j.inteco.2025.100613","url":null,"abstract":"<div><div>We investigate the effects of import inspections and technical assistance on international trade through a dynamic analysis of the timing and impact of importer and exporter efforts to address information asymmetries and biosecurity risks. We employ the Multiple Indicator Solution with panel data of technical assistance, inspections and exports for 30 countries. Results show that both inspections and technical assistance have a positive and significant impact on trade volume, while minimizing biosecurity risks in trade, thereby aligning with goals of the World Trade Organization. The impact of technical assistance on exports depends on the type of assistance and country characteristics.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"183 ","pages":"Article 100613"},"PeriodicalIF":0.0,"publicationDate":"2025-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144365728","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
Currency exposure and economic growth: Friend or foe? 货币风险敞口与经济增长:是敌是友?
International Economics Pub Date : 2025-06-19 DOI: 10.1016/j.inteco.2025.100612
Hari Venkatesh , Gourishankar S. Hiremath
{"title":"Currency exposure and economic growth: Friend or foe?","authors":"Hari Venkatesh ,&nbsp;Gourishankar S. Hiremath","doi":"10.1016/j.inteco.2025.100612","DOIUrl":"10.1016/j.inteco.2025.100612","url":null,"abstract":"<div><div>This study investigates the impact of currency mismatches on economic growth in advanced and developing economies. We introduce novel indices – broad original sin and new currency mismatch – constructed using a unique dataset on the currency composition of cross-border bank loans and international debt securities. These indices provide a comprehensive measure of currency exposure compared to previous studies. Our empirical findings reveal that currency mismatches significantly hinder economic growth, with depreciation further amplifying this adverse effect. Notably, exchange rate movements negatively impact growth through the financial channel, offsetting potential benefits through the trade channel. The empirical analysis suggests that countries with currency mismatches tend to perform better under fixed exchange rates. Importantly, this study shows that currency exposure is relevant for advanced economies as well, not just developing ones. To mitigate these negative effects, policymakers should consider limiting foreign currency-denominated debt issuance and promoting domestic bond market development.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"183 ","pages":"Article 100612"},"PeriodicalIF":0.0,"publicationDate":"2025-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144365727","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
Deep-water ports and international trade: A structural gravity estimation 深水港与国际贸易:结构重力估计
International Economics Pub Date : 2025-06-18 DOI: 10.1016/j.inteco.2025.100614
Theresa M. Greaney, Pratistha Gyawali
{"title":"Deep-water ports and international trade: A structural gravity estimation","authors":"Theresa M. Greaney,&nbsp;Pratistha Gyawali","doi":"10.1016/j.inteco.2025.100614","DOIUrl":"10.1016/j.inteco.2025.100614","url":null,"abstract":"<div><div>We investigate the importance of deep-water ports for international trade using a structural gravity model. To avoid confounding port depth effects with the well-known landlocked country penalty in international trade, we focus our inquiry on non-landlocked countries. Using ports data from year 2000 and trade data from 2000–2019, we find that countries with at least one port capable of hosting a Panamax ship (i.e., port depth of at least 41 ft) trade tremendously more manufactured goods than non-landlocked countries without such ports. Ten additional feet of maximum port depth corresponds with 18.3 to 19.8 percent more international trade in manufactured goods and 19.1 to 22.2 percent more trade in all commodities sectors for a non-landlocked country, while it is unrelated to trade in services. For trade in commodities, having more ports at deeper cutoff depths also corresponds with greater trade volumes.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"183 ","pages":"Article 100614"},"PeriodicalIF":0.0,"publicationDate":"2025-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144518781","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 end of miracle? China's economic growth pattern 奇迹的终结?中国的经济增长方式
International Economics Pub Date : 2025-06-17 DOI: 10.1016/j.inteco.2025.100615
Akira Kohsaka
{"title":"The end of miracle? China's economic growth pattern","authors":"Akira Kohsaka","doi":"10.1016/j.inteco.2025.100615","DOIUrl":"10.1016/j.inteco.2025.100615","url":null,"abstract":"<div><div>Despite its recent period of “unprecedentedly” high and sustained economic growth, China has long been expected to face a sudden slowdown sooner or later. This paper examines China's growth pattern over the past three decades as a process of income catching-up similar to that experienced by other East Asian economies. We analyze this within a simple neoclassical framework of economic growth, using an internationally comparable macroeconomic database. We find that China's growth pattern is not unprecedented but rather closely parallels that of its East Asian forerunners. Furthermore, we find that, while China's catching-up has primarily been driven by capital deepening rather than TFP growth, it could be sustained for decades due to the slow diminishing returns to capital.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"183 ","pages":"Article 100615"},"PeriodicalIF":0.0,"publicationDate":"2025-06-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144633281","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
Regional heterogeneity in the impacts of drought in China 中国干旱影响的区域异质性
International Economics Pub Date : 2025-06-06 DOI: 10.1016/j.inteco.2025.100611
Jiana Chen
{"title":"Regional heterogeneity in the impacts of drought in China","authors":"Jiana Chen","doi":"10.1016/j.inteco.2025.100611","DOIUrl":"10.1016/j.inteco.2025.100611","url":null,"abstract":"<div><div>Droughts pose a critical global challenge, threatening food security, water resources, and economic stability. In large, ecologically diverse countries like China, understanding how droughts disproportionately affect economies at both national and subnational scales is vital, as regional vulnerabilities can exacerbate broader socioeconomic disruptions. However, previous research has rarely analyzed drought impacts comprehensively at both national and regional levels, limiting the ability to capture the full extent of economic heterogeneities and design effective mitigation strategies. This study examines regional heterogeneities in drought impacts across China, aiming to identify how different regions respond to drought-induced shocks and inform targeted policy interventions. Using a Structural Vector Autoregression (SVAR) model with sign restrictions, the analysis reveals that while droughts modestly reduce national output, regional impacts vary significantly. Areas heavily reliant on agriculture, those with diverse vegetation ecosystems, and regions with underdeveloped infrastructure face the most severe economic consequences. Supply-side sectors, particularly agriculture, suffer significant productivity losses, driving sharp increases in national food prices. Accommodation and transportation costs also show prolonged inflationary trends, indicating persistent secondary economic effects. To enhance resilience, this study advocates for region-specific strategies in resource allocation and policy-making. By aligning policies with each region's unique economic vulnerabilities and ecological traits, governments can more effectively mitigate the adverse effects of climate-induced droughts.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"183 ","pages":"Article 100611"},"PeriodicalIF":0.0,"publicationDate":"2025-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144263048","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
Transport costs and the locations of upstream-downstream sectors in China and Indonesia 中国和印度尼西亚的运输成本和上下游部门的位置
International Economics Pub Date : 2025-06-02 DOI: 10.1016/j.inteco.2025.100602
Jang Ping Thia , Yumin Hu
{"title":"Transport costs and the locations of upstream-downstream sectors in China and Indonesia","authors":"Jang Ping Thia ,&nbsp;Yumin Hu","doi":"10.1016/j.inteco.2025.100602","DOIUrl":"10.1016/j.inteco.2025.100602","url":null,"abstract":"<div><div>This paper presents evidence of different upstream-downstream location configurations for China and Indonesia, leveraging provincial input-output (IO) tables. While both upstream and downstream sectors in China exhibit a relatively even geographical distribution across provinces, Indonesia's sectors (even upstream raw material-processing ones) are notably concentrated in Jakarta and Java. To better account for these location differences, we develop a stylized spatial new economic geography model where an upstream competitive raw material processing and a downstream CES sector locate together or separately in different Nash equilibria. Both are located at the large market if transport costs are high, separately given moderate transport costs, and again together but towards the geographic center when transport costs are low. Given the pull of raw materials, low transport costs thus spread upstream and downstream sectors away from the large market. Conversely, low raw material access cost results in both locating in large market.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"183 ","pages":"Article 100602"},"PeriodicalIF":0.0,"publicationDate":"2025-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144241649","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
Reassessing EU comparative advantage: The role of technology 重新评估欧盟的比较优势:技术的作用
International Economics Pub Date : 2025-05-31 DOI: 10.1016/j.inteco.2025.100601
Filippo di Mauro , Marco Matani , Gianmarco Ottaviano
{"title":"Reassessing EU comparative advantage: The role of technology","authors":"Filippo di Mauro ,&nbsp;Marco Matani ,&nbsp;Gianmarco Ottaviano","doi":"10.1016/j.inteco.2025.100601","DOIUrl":"10.1016/j.inteco.2025.100601","url":null,"abstract":"<div><div>Based on a sufficient statistics approach, we show how the state of technology of European industries relative to the rest of the world can be empirically assessed in a way that is simple in terms of computation, parsimonious in terms of data requirements, but still comprehensive in terms of information. The lack of systematic cross-industry correlation between export specialization and technological advantage suggests that standard measures of revealed comparative advantage only imperfectly capture a country’s technological prowess due to the concurrent influences of factor prices, market size, markups, firm selection and market share reallocation. These findings offer policy insights relevant to the EU’s external competitiveness debate, echoing several recommendations from the Draghi report. Achieving export specialization in key sectors requires more than just technological superiority.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"183 ","pages":"Article 100601"},"PeriodicalIF":0.0,"publicationDate":"2025-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144330357","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
IMF programs for growing out of debt: Evidence of a catalytic effect on foreign direct investment 国际货币基金组织摆脱债务的计划:对外国直接投资产生催化作用的证据
International Economics Pub Date : 2025-05-30 DOI: 10.1016/j.inteco.2025.100604
Grégory Donnat
{"title":"IMF programs for growing out of debt: Evidence of a catalytic effect on foreign direct investment","authors":"Grégory Donnat","doi":"10.1016/j.inteco.2025.100604","DOIUrl":"10.1016/j.inteco.2025.100604","url":null,"abstract":"<div><div>The financing needs of developing countries are substantial due to repeated crises in recent years. In this global context, policymakers seek financial assistance from the International Monetary Fund (IMF) to address balance of payments issues, despite developing countries' growing reluctance towards IMF loans tied to conditions and fear of adverse market reactions post-IMF agreement. This paper aims to explore whether IMF financial support can attract additional private investment to these countries, by identifying the presence of a catalytic effect of IMF programs between 1985 and 2021. Employing an instrumental variable approach to correct for selection bias, we find that IMF programs have a catalytic effect on foreign direct investment, especially programs involving longer-term IMF engagement conditioned on structural reforms in low- and lower-middle-income countries. Furthermore, we show that IMF programs foster the attraction of greenfield FDI. However, the catalytic effect depends on the economic sector, particularly those characterized by low external financial dependence and high sunk costs. Finally, we highlight that medium-term IMF commitments contribute to reassuring investors regarding macroeconomic stability.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"183 ","pages":"Article 100604"},"PeriodicalIF":0.0,"publicationDate":"2025-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144254334","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
Impacts of trade diversion from China in the United States market on wages in a third country: Evidence from Thailand 中国在美国市场的贸易转移对第三国工资的影响:来自泰国的证据
International Economics Pub Date : 2025-05-28 DOI: 10.1016/j.inteco.2025.100603
Kazunobu Hayakawa , Sasatra Sudsawasd
{"title":"Impacts of trade diversion from China in the United States market on wages in a third country: Evidence from Thailand","authors":"Kazunobu Hayakawa ,&nbsp;Sasatra Sudsawasd","doi":"10.1016/j.inteco.2025.100603","DOIUrl":"10.1016/j.inteco.2025.100603","url":null,"abstract":"<div><div>Since the latter half of the 2010s, China's exports to the United States (US) have gradually decreased due to the US-China trade war and other factors, such as lockdown measures in China to combat COVID-19. This decrease has resulted in increasing exports from third countries, including Thailand, to the US market by substituting China's exports, i.e., trade diversion. Against this backdrop, this study empirically investigates how the changes in exports to the US driven by the change in China's exports to the US affect wages in Thailand. Especially, we examine the heterogeneous effects according to workers' characteristics. To this end, we conduct regression analyses using individual-level quarterly data from the first quarter of 2017 to the second quarter of 2023. Our main finding is that the wage gap between low- and middle-skill occupations decreased, while the gap between middle- and high-skill occupations increased. Namely, the increased exports to the US caused “wage polarization” in Thailand. We also find that the increase in exports to the US contributed to expanding the wage gap by age but narrowing it by gender.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"183 ","pages":"Article 100603"},"PeriodicalIF":0.0,"publicationDate":"2025-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144189463","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
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