International Economics and Economic Policy

Bài viết này điều tra xem sự không đồng nhất giữa các công ty và ngân hàng có ý nghĩa gì đối với tác động của tăng trưởng theo ngành trong nước đối với cho vay của ngân hàng. Chúng tôi sử dụng một số tập dữ liệu cấp ngân hàng được cung cấp bởi Ngân hàng Trung ương Đức trong giai đoạn 1996–2002. Kết quả của chúng tôi cho thấy sự không đồng nhất của công ty và ngân hàng ảnh hưởng đến cách mà cho vay phản ứng với tăng trưởng theo ngành trong nước. Chúng tôi ghi nhận rằng tổng số cho vay của các ngân hàng đối với các công ty Đức phản ứng theo chu kỳ với tăng trưởng theo ngành trong nước, trong khi số cho vay vượt ngưỡng 1,5 triệu euro đối với các công ty Đức và nước ngoài thì không. Hơn nữa, chúng tôi cũng ghi nhận rằng phản ứng của cho vay phụ thuộc vào các đặc điểm của ngân hàng như nhóm ngân hàng, quy mô tài sản của ngân hàng và mức độ chuyên môn theo ngành. Chúng tôi phát hiện rằng tổng số cho vay trong nước của các ngân hàng tiết kiệm và hợp tác tín dụng (bao gồm cả các tổ chức khu vực của họ), các ngân hàng nhỏ hơn, và các ngân hàng chuyên môn cao trong các ngành cụ thể phản ứng tích cực và trong những trường hợp liên quan, mạnh mẽ hơn đối với tăng trưởng theo ngành trong nước.

The environmental concern of people in industrialized and developing countries is analyzed. Using the 2010–2014 wave of the World Value Survey (WVS), the main purpose of our analysis is to investigate the effect of different information sources on the affective, conative and behavioral components of the environmental concern of people in the developed and developing countries. As independent variables, we use a set of economic data as well as information-related variables, including the internet, mobile phones, TV, radio and newspapers. The digital variables of the internet and mobile phones turn out to have a highly significant impact on environmental concern so that digital modernization of countries should have pro-environmental impacts as a side effect of internet and mobile phone services expansion. With the developing countries catching-up vis-à-vis the OECD countries in the field of mobile phone density and internet density, respectively, one may expect better prospects for cooperation between developed and developing countries since attitudes/the environmental concern of people in developed and developing countries will become more similar. For international green cooperation and climate change policy progress, the new findings presented herein are crucial.

Increasing gender equality and enhancing women empowerment through work opportunities are the important steps in achieving sustainable development. The aim of this paper is threefold: (1) to empirically examine the relationship between women economic rights and economic growth for the global sample. (2) To explore whether the effect of women’s economic rights is different across different economies. (3) This paper uses spatial econometric techniques to examine the impact of women’s economic rights on neighbouring countries. For empirical purpose, we use the data for 171 countries over the period 1960–2016. The results show that women’s economic rights positively affect growth; however, the effect is heterogeneous across different economies. From spatial analysis, we confirm that 75% spillover effect of women economic rights is passing through neighbouring country. The results of this study are consistent and coherent with the EU policy about women’s economic empowerment where it claims that joint effort in promoting women empowerment by all actors could lead to sustainable development and growth.

The paper investigates the export behavior of German small and medium-sized enterprises (SMEs) in response to the introduction of Euro and the subsequent fall in trade costs. Based on a testable prediction derived from Helpman et al. (American Economic Review 94:300–316, 2004) and Helpman (Journal of Economic Literature 44:589–630, 2006), the paper argues that the likelihood of SMEs to become an exporter increases after the monetary union. By using an empirical probit estimation technique, it is found that SMEs, and especially medium-sized enterprises, indeed benefit from cost reductions in entering into export markets. What is more, firms operating in furniture, electrical equipment, plastics, medical instruments, machinery and textiles are more likely to benefit from monetary union. These results are robust to using exchange rate volatility as a proxy for the cost reductions due to monetary union.

The question of interest in this essay is whether the presence of natural resource rents detracts from or contributes to domestic investments and economic diversification vis-à-vis international investments. In general, there is a positive relation between natural resource rents and domestic investments. However, evidence suggests that albeit resource-dependent economies are capital scarce, they tend to invest more in international markets proportional to domestic markets. We use a panel quantile regression to model the influence of natural resource revenues on the evolution of investments and precisely on the ratio of domestic capital investments relative to total international assets investments (Investment Pattern). Our results show that natural resource rents as percentage of GDP are negatively related to the ratio of domestic capital relative to foreign assets investments only in countries with resource rents per GDP above12.5%. Further, after adding an index for absorptive capacity, we confirm that in capital scarce economies, absorptive capacity plays an important role to bringing investments home at all quantiles of the investment patterns.

Hurricane Katrina (2005) was the most devastating natural disaster in US history since San Francisco in 1906. A budding literature on disasters and trade suggests that while the impact of natural disasters on small and/or developing countries is significant, the effects on developed countries is not significant. This paper adds to the literature by focusing on a single event for a developed country, the US. In so doing, the aggregation problems of panel studies of many disasters over many countries is avoided. The results suggest that while terrible, Katrina’s effect on US imports was not statistically significant. Estimates of the long-run cointegrating relationship of import demand detected neither the presence of extraordinarily more nor less imports during the period studied (1983:1 to 2008:2). Small, short-run decreases, then increases, can be attributed to the direct effect of a small decline in overall economic activity alone. Recent estimates for income and price elasticities are also obtained and the results compared to other recent shocks, namely, the mild recession of 1990–1991 and the recession and trade collapse in 2008.

This research study analyzes the effects of similarities in economic size and institutional level on bilateral trade. It is interested in whether similarities in country size and at the institutional level encourage enlarging volumes of bilateral trade between countries. Using panel data of the bilateral trade of Azerbaijan with 50 different countries from 1995 to 2012, estimating by random and fixed effects, as well as the Poisson Pseudo Maximum Likelihood (PPML), the study finds that similarity of income size is necessary for increasing bilateral trade across countries. The main finding is that high quality rule of law and more control of corruption boost confidence in international trade, therefore, reliable countries tend to trade more between each other, and less with unreliable countries. Unreliable countries trade more with each other, and less with reliable ones. A large divergence in institutional quality performance reduces bilateral trade across countries. The results show that a long-term contract is one of the main indicator for natural resource exports; therefore distance might not have significant impact on bilateral trade relationships.