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A New Chapter in Value Chain Connections between China and Europe: Are Advanced Services a New Area of Chinese Influence in European Manufacturing? 中欧价值链联系的新篇章：先进服务业是中国影响欧洲制造业的新领域吗？
IF 1.2
Journal of Economic Integration Pub Date : 2023-12-15 DOI: 10.11130/jei.2023.38.4.571
Ewa Cieślik
{"title":"A New Chapter in Value Chain Connections between China and Europe: Are Advanced Services a New Area of Chinese Influence in European Manufacturing?","authors":"Ewa Cieślik","doi":"10.11130/jei.2023.38.4.571","DOIUrl":"https://doi.org/10.11130/jei.2023.38.4.571","url":null,"abstract":"One way to mark the presence of Chinese companies in Europe is the servicification of manufacturing with advanced services such as information and communication (ICT). Therefore, the article aims to identify the intensification of the influx of Chinese ICT services in the manufacturing of European economies, especially regarding industries dealing with transport equipment and computers, electronic and electrical equipment. A key research question going forward is: whether technological developments in China affect the country's servicification links with European manufacturing in advanced services. Applying input-output models, the study confirmed that China is more intensively servicing manufacturing in Europe with its ICT services, and the intensity of this servitization increases with the stronger position of a value-added country in GVCs.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138998657","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
Symmetric and Asymmetric Effects of Exchange Rate Changes on Stock Prices in Fragile Five Economies: Analysis of the Global Crisis and Pandemic Period 汇率变动对脆弱的五个经济体股票价格的对称和不对称影响：全球危机和大流行时期的分析
IF 1.2
Journal of Economic Integration Pub Date : 2023-12-15 DOI: 10.11130/jei.2023.38.4.646
Işıl Erem Ceylan, Fatih Ceylan
{"title":"Symmetric and Asymmetric Effects of Exchange Rate Changes on Stock Prices in Fragile Five Economies: Analysis of the Global Crisis and Pandemic Period","authors":"Işıl Erem Ceylan, Fatih Ceylan","doi":"10.11130/jei.2023.38.4.646","DOIUrl":"https://doi.org/10.11130/jei.2023.38.4.646","url":null,"abstract":"This study examined the symmetric and asymmetric effects of exchange rate changes on stock prices in the economies of India, Indonesia, Brazil, South Africa, and Turkey, collectively known as the \"Fragile Five\" due to their similar economic dynamics in light of the global financial crisis and pandemic period. The study uses monthly data from July 2000 to July 2022, and panel autoregressive distributive lag and panel nonlinear autoregressive distributive lag models to investigate the effects of exchange rate changes on stock prices in the Fragile Five economies. Prior to the global financial crisis, exchange rate changes have both long- and short-term asymmetric effects on stock prices in the Fragile Five economies. However, after the global financial crisis, exchange rate changes have both short- and long-term asymmetric and symmetric effects. Similarly, exchange rate changes also have asymmetric effects on stock prices during the COVID-19 period.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138998962","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
An Alternative Approach to Assess the Impacts of Countercyclical Fiscal Policy in Developing Countries 评估发展中国家反周期财政政策影响的另一种方法
IF 1.2
Journal of Economic Integration Pub Date : 2023-09-15 DOI: 10.11130/jei.2023.38.3.439
Van Hieu Nguyen, Thai Hong Le
{"title":"An Alternative Approach to Assess the Impacts of Countercyclical Fiscal Policy in Developing Countries","authors":"Van Hieu Nguyen, Thai Hong Le","doi":"10.11130/jei.2023.38.3.439","DOIUrl":"https://doi.org/10.11130/jei.2023.38.3.439","url":null,"abstract":"In the current literature, theoretical, and empirical studies present varying implications regarding the effectiveness of countercyclical fiscal policy in stabilizing the economy. While most studies suggest that countercyclical fiscal policy stimulates or inhibits economic growth, others document insignificant impact. However, these existing studies solely analyze the impulse of fiscal policy to the economy without distinguishing whether the impulse factor originates from within or outside the economy. Therefore, we aim to explore the effectiveness of countercyclical fiscal policy within an alternative framework that discerns the origin of the impulse factor and revisits the impacts of countercyclical policy in developing countries. Our theoretical framework argues that the countercyclical fiscal policy only makes sense if it is conducted with external debt or other external instruments. Employing the dataset that covers 201 countries over the 1990-2020 periods, we document evidence for the use of countercyclical fiscal policy in developing countries.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45902461","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 Economic Freedom Improve FDI Inflows in Sub-Saharan Africa? 经济自由是否改善了撒哈拉以南非洲的外国直接投资流入？
IF 1.2
Journal of Economic Integration Pub Date : 2023-09-15 DOI: 10.11130/jei.2023.38.3.383
Ibrahima Dia, H. A. Ondoa
{"title":"Does Economic Freedom Improve FDI Inflows in Sub-Saharan Africa?","authors":"Ibrahima Dia, H. A. Ondoa","doi":"10.11130/jei.2023.38.3.383","DOIUrl":"https://doi.org/10.11130/jei.2023.38.3.383","url":null,"abstract":"The objective of this study is to investigate the effect of economic freedom on foreign direct investment (FDI) in Sub-Saharan Africa (SSA). To this end, we employed a panel data analysis across 41 countries over the period 2000-2020. We used a two-stage least squares (2SLS) estimation method to address potential endogeneity issues. We found that economic freedom plays a crucial role in enhancing FDI inflows in SSA. Specifically, the results suggest that certain dimensions of economic freedom, such as the size of government and the legal system and property rights. Have a positive effect on FDI inflows in SSA. Conversely, components or dimensions like sound money and regulation have a negative impact. Freedom to trade has a positive sign on FDI. Regardless, these effects are statistically insignificant. Based on these outcomes, SSA countries should prioritize consolidating public spending on infrastructure development and enhancing the quality of investments in human capital formation. Additionally, strengthening the legal framework by ensuring the rule of law and a functional justice system that effectively safeguards the rights of investors is also necessary.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43067722","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
Analysis of Citizens' Preference for a Single Currency: The Case of the Economic and Monetary Community of Central Africa 公民对单一货币的偏好分析:以中非经济货币共同体为例
IF 1.2
Journal of Economic Integration Pub Date : 2023-09-15 DOI: 10.11130/jei.2023.38.3.411
Mathieu Juliot Mpabe Bodjongo
{"title":"Analysis of Citizens' Preference for a Single Currency: The Case of the Economic and Monetary Community of Central Africa","authors":"Mathieu Juliot Mpabe Bodjongo","doi":"10.11130/jei.2023.38.3.411","DOIUrl":"https://doi.org/10.11130/jei.2023.38.3.411","url":null,"abstract":"This study explored the level of support for a single currency among citizens of the Economic and Monetary Community of Central Africa member countries. It also identified the factors that explain this support. The results of the probit model applied to Afrobarometer 2021 data highlight the influence of certain factors (the country's economic situation, citizens' living conditions, internet access, place of residence, perception of the evolution of corruption, and the effectiveness of subregional institutions) in explaining citizens' support for a single currency. In particular, when comparing Cameroonian and Gabonese citizens, this study determined that the factors of support are not entirely comparable.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44885449","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
Pass-Through Effects of the East African Community Common External Tariffs on Kenya's Domestic Prices 东非共同体共同对外关税对肯尼亚国内价格的传递效应
IF 1.2
Journal of Economic Integration Pub Date : 2023-09-15 DOI: 10.11130/jei.2023.38.3.466
Justine Ongeri Mogendi, T. Nganga, Laura Nelima Barasa
{"title":"Pass-Through Effects of the East African Community Common External Tariffs on Kenya's Domestic Prices","authors":"Justine Ongeri Mogendi, T. Nganga, Laura Nelima Barasa","doi":"10.11130/jei.2023.38.3.466","DOIUrl":"https://doi.org/10.11130/jei.2023.38.3.466","url":null,"abstract":"This study offers an empirical microlevel analysis of the pass-through effects of the East African Community Common External Tariff on consumer prices in Kenya. Using data from the Kenya Integrated Household Budget Surveys conducted in 2005 and 2015, this research employs a fixed-effects model to estimate pass-through equations. The analysis focuses on consumer prices for agricultural and manufactured goods. It also considers household residential classifications, distinguishing between rural and urban areas, and it investigates the impact of border proximity and transportation costs on the pass-through effect. The findings show that manufactured goods have a significant pass-through effect. A 1% change in tariffs results in a 0.84% change in consumer prices for manufactured goods. However, the pass-through effects for agricultural goods were incomplete, suggesting that markets for manufactured goods are more competitive in Kenya. The study also found that pass-through effects vary depending on proximity to borders and the urban-rural divide.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49127012","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
Inflation Threshold in the Context of Structural Breaks: Evidence from Egypt Using the Logistic Smooth Transition Regression Approach 结构性突破背景下的通货膨胀阈值：来自埃及的证据——使用Logistic平稳过渡回归方法
IF 1.2
Journal of Economic Integration Pub Date : 2023-09-15 DOI: 10.11130/jei.2023.38.3.496
Mohamed Maher
{"title":"Inflation Threshold in the Context of Structural Breaks: Evidence from Egypt Using the Logistic Smooth Transition Regression Approach","authors":"Mohamed Maher","doi":"10.11130/jei.2023.38.3.496","DOIUrl":"https://doi.org/10.11130/jei.2023.38.3.496","url":null,"abstract":"The disparities in structure and nature of developing economies, in terms of their level of development, yield mixed results on the linear/nonlinear relationship between inflation and real GDP (i.e., the inflation threshold), which should be revisited. No study examined the effects of inflation on real GDP in Egypt, particularly after the 2011 revolution and the November 2016 exchange rate floating. This study empirically investigates the inflation threshold in Egypt over the period 1976-2019. In other words, it seeks to determine the optimal level of an inflation rate such that beyond it, inflation becomes a destructive element to economic growth. To this end, the logistic smooth transition regression (LSTR) has been performed. Considering structural breaks, this study checked the stationarity of the variables with the Kapetanios unit root test. Results of the LSTR technique highlight a statistically significant positive relationship between inflation and GDP growth in the lower regime at 9.32%. Beyond this threshold, inflation harms GDP growth, indicating an asymmetric relationship between the two variables. Such a specified estimated inflation threshold could assist monetary authorities in setting their inflation target to be below that threshold. This study recommends that policymakers restrict inflation and keep it below the estimated threshold, considering that inflation in the Egyptian economy is derived from the aggregate supply, demand factors and the production apparatus's inelasticity.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47960131","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 OIC's Intra-Bloc and Extra-Bloc Trade: How Effective are the FTAs? 伊斯兰会议组织集团内和集团外贸易:自由贸易协定的效果如何?
IF 1.2
Journal of Economic Integration Pub Date : 2023-09-15 DOI: 10.11130/jei.2023.38.3.360
Amjad Masood, Junaid Ahmed, Fatima Olanike Kareem
{"title":"The OIC's Intra-Bloc and Extra-Bloc Trade: How Effective are the FTAs?","authors":"Amjad Masood, Junaid Ahmed, Fatima Olanike Kareem","doi":"10.11130/jei.2023.38.3.360","DOIUrl":"https://doi.org/10.11130/jei.2023.38.3.360","url":null,"abstract":"The present study evaluates the role of Free Trade Agreements (FTAs) in facilitating trade for the Organization of Islamic Cooperation (OIC) member countries. We used the structural gravity model and the Poisson pseudo-maximum likelihood estimator to examine annual bilateral trade from 2000 to 2019. We find that FTAs have a positive impact, which is more pronounced in the case of the intra-OIC trade. Furthermore, the findings show that the quality of governance in the source country influences the adjustment of the exporting process in response to the entry of an FTA. The majority of OIC countries currently have poor governance. Therefore, improving the governance conditions would encourage trade, particularly for the extra-bloc exports.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47009877","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
Where Does Value-Added Flow in Gross Exports, Mr. Newton? Global Supply Chains and New Regionalization's Effects in the Asia-Pacific 牛顿先生，附加值在出口总额中流向何处?全球供应链与新区域化对亚太地区的影响
IF 1.2
Journal of Economic Integration Pub Date : 2023-09-15 DOI: 10.11130/jei.2023.38.3.335
Dušan Steinhauser
{"title":"Where Does Value-Added Flow in Gross Exports, Mr. Newton? Global Supply Chains and New Regionalization's Effects in the Asia-Pacific","authors":"Dušan Steinhauser","doi":"10.11130/jei.2023.38.3.335","DOIUrl":"https://doi.org/10.11130/jei.2023.38.3.335","url":null,"abstract":"The New Trade Theory proposes that participating in global supply chains (GVCs) enhances productivity and economies of scale. However, recent events like the COVID-19 pandemic and Ukraine crisis have exposed the vulnerabilities of GVCs to global risks. This study investigates the relationship between gross exports and the domestic value-added content of such exports, considering various factors, including labor productivity, especially in Belt and Road Initiative countries (A-P Belt and Road Initiative [BRI]). We analyze the role of GVCs using cross-sectional and panel data from the 2021 OECD Trade in Value-Added. Over the period from 2009 to 2018, we observed that countries with increasing productivity exported goods, services, and value-added to other countries experiencing similar productivity. Our findings indicate that export concentration contributes to increased value-added exports. However, we could not validate the effects of R&D spending, the real effective exchange rate, foreign direct investment inflows, and A-P BRI membership contributions using the difference-in-differences method.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47211610","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 Tax Revenue Improve Economic Complexity in Africa? 税收是否改善了非洲的经济复杂性？
IF 1.2
Journal of Economic Integration Pub Date : 2023-06-15 DOI: 10.11130/jei.2023.38.2.278
Hermann Ndoya, Pousseni Bakouan
{"title":"Does Tax Revenue Improve Economic Complexity in Africa?","authors":"Hermann Ndoya, Pousseni Bakouan","doi":"10.11130/jei.2023.38.2.278","DOIUrl":"https://doi.org/10.11130/jei.2023.38.2.278","url":null,"abstract":"This study assesses the effect of tax revenue on economic complexity in Africa using a sample of 29 African countries from 1995 to 2018. Applying the system generalized method of moments (GMM), we found that tax revenue spurs economic complexity in Africa by providing countries with critical financial resources to produce complex and sophisticated goods. We performed several robustness tests, including controlling for macroeconomic volatility and employing various measures of economic complexity and tax revenue, and the results remain robust. Furthermore, the mediation analysis results show that the effect of tax revenue on economic complexity is mediated by financial development and government spending. This study advocates for government strategies to enact tax reforms and maximize tax revenue mobilization, which will help finance economic complexity.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47253749","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: 1
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