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The effect of preferential tariffs of the EU: Some evidence from B&H
Get PDFAbstract. The process of trade liberalization is more or less accompanied by a reduction or elimination of tariffs. In this sense, the preferential tariffs for foreign exporters aim to increase trade flows, ensure access to foreign markets and achieve social welfare. Namely, both before and after the signing of the Stabilization and Association Agreement in 2000, Bosnia and Herzegovina (B&H) realized some benefits from the reduction of preferential tariffs of the EU which aimed to ease the access of B&H products to the EU market. Accordingly, the question arises to what extent the preferential tariffs of the EU may lead to an increase in exports of products from the six leading sectors of B&H, observed on the basis of the volume of exports. In order to assess the effect of the preferential tariffs on the export of six leading sector of B&H, we applied the gravity equation, aggregate data on an annual basis from 1995 to 2015, and some econometric techniques, such as pooled OLS, fixed effects, random effects and dynamic panel GMM. The results of the coefficients have shown that the average preferential tariffs are significant, i.e. that have a positive effect on the overall exports. On the other hand, the results of the coefficient estimates of the average preferential tariffs on the individual export of six leading sectors have shown a significant effect in the case of half the sectors.Keywords. Tariffs, Export, Sectors, Gravity equation.JEL. F10, F11, F14
Economics case study: Harvard Business School pedagogy techniques: From teaching entrepreneurship to influencing business policy through research
Get PDFAbstract. The case study explains the need for social entrepreneurship while remaining in the premise of mainstream economics. A detailed discussion is carried out on the vulnerabilities of economic policy making that has led to some of the new initiatives at Harvard Business School to promote such pedagogy practices at Business Schools that may eventually influence national and international policy making to the benefit of the society and not only the economies of developed and developing countries. Two brief cases are presented. First one takes evolution of HBS course at a Pakistani university to develop superior pedagogy for student learning towards social entrepreneurship. The other case maps the journey of bilateral relationships between China and Pakistan from Free trade agreement to CPEC as a matter of national policy to evaluate local business risks and potentials. Keywords. Economics case study, Harvard Business School, Business policy through.JEL. A11, A20, A29
What determines the growth of services sector in Pakistan? A comparison of ARDL bound testing and time varying parametric estimation with general to specific approach
Get PDFAbstract. This empirical study followed time varying parametric approach (Kalman Filter) and auto regression distributed lag (ARDL) with general to specific approach to find out relevant macroeconomic determinants of Pakistan’s services sector’s growth. To our best of knowledge, no author has made such study that employed these estimation techniques to find out determinants of services sector growth in Pakistan while employing general to specific approach. Current study bridges this gap. Annual data was taken from World Development Indicators (2014) during period 1976-2014. Main findings of the study are that rolling regression estimates of explanatory variables justify the use of Kalman filtering approach. Results show that inflation has negative effect on services sector output growth in case of TVP approach. This result does match with ARDL results. Net foreign direct investment has positive and significant effect on services sector output growth in both techniques of estimation. Gross national expenditures with positive effect are the relevant significant determinants of services sector output growth at five percent significance level in case of TVP approach while relationship was insignificant in case of ARDL estimation. Impact of remittances received on services sector growth is negative in case of time varying parametric approach. This result is different from ARDL results where relationship is positive and significant at five percent level of significance. All the one step ahead state vectors confirmed the stability of models in case of time varying parametric approach. Cumulative sum of recursive residuals (CUSUM) and cumulative sum of recursive residuals square (CUSUMQ) also confirmed the stability of results of auto regression distributed lag. Based on these empirical findings, we conclude that government should focus on service sector growth augmenting factors while formulating any policy relevant to the concerned sector. Keywords. Services sector, Kalman filter, Rolling regression.JEL. C22, O11, O40
A Nostalgic Socioeconomic History of Tarar
Get PDFAbstract. This paper uses an autobiographical mode in narrating the evolution and role of institutions in the development and the subsequent decline of a village economy in Bihar, India. It shows how cooperation helps and later envy, discordance and destructive attitudes overpower the constructive attitudes to life, how such attitudes enter into the cultural fabric of the people and how such changes make the village fall on its knees. The paper highlights the role of social capital in economic development.Keywords. Autobiographical, Village economy, Envy-barrier to development, Cultural economics, Destructive leadeship.JEL. B40, P36, P37, P49, Z13
Economic prospects and current situation of the planter manufacturing industry in Mexico
Get PDFAbstract. Mexico imports 14 million pesos in seeders of which 53% is from the United States, 16.6% from France, 11.4 from Italy, 8.7 from Brazil, 5.5% from Spain and 4.7% from others countries. Donoso 2007. It is estimated that there is a market of Seeders of about 3,000 machines/year. About 1800 imported and another 1200 of national manufacture, of them 500 of Direct Sowing approximately. The objective of this work is to analyze the situation of the planter manufacturing industry and its economic prospects for the future in Mexico. Mexico in the segment of planters unlike the segments of tractors and combine harvesters, in which in the first only meet manufacturers and in the second it does not even exist in the country, has a national industry of manufacturing of planters strongly rooted in the country with its own technology. This situation was evidenced by not allowing the emergence of Argentine planters, as well as infrastructure to continue the research and development of new designs of seeders in the four agricultural institutions led by the Universidad Autonoma Chapingo. It must be invested in Precision Agriculture technology With seeders with intelligent metering so as not to be left behind this industry. If this condition is put into practice the economic outlook is very encouraging for this segment of the national agricultural machinery industry.Keywords. Seeders, Planters industry, Mexico, Agricultural machines, Manufacturing.JEL. J43, Q01, Q13, Q17
The destination branding in tourism and the case of Antalya
Get PDFAbstract. The purpose of this dissertation is to determine the level of Turkish tourisms industry in the process of being a brand. For this purpose, Antalya where is one of the most important areas of Turkish tourism has choosen as application area and made survey with 520 tourists to determine Antalya’s level of being a brand. The main reason of this study, the added value of tourism industry is going to increase with the process of being a brand. Therefore, the contribution of tourism industry’s to national economy is going to increase. For this purpose, first, tourism concept has explained and tourism datas have explained within World and Turkish values. Second, brand concept and necessities of being a brand have explained by methods which had explained in first and second chapter. In last chapter, Turkish tourisms level of being a brand has examined by the study of Antalya case. In conclusion, %98,5 of people who visited Antalya think that Antalya is not a brand. %93.7 of them think that Antalya has substructural problems. %67.5 of them think that Antalya has superstructural problems. %81.9 of them think that they will choose Paris, Venice etc, if there would be an equality at prices. The results of the study showed that Antalya has a very low brand value. Therefore, studies related to being a brand in tourism should focus at invisible values more than visible values. Finally, by being a strong brand in tourism will increase tourism incomes and will contribute country’s economy positively.Keywords. World tourism, Turkish tourism, Branding, Branding in tourism.JEL. L83, Z32, D47
Federalism and the Arab League: A theoretical synergy
Get PDFAbstract. The paper is a theoretical analogy of the Arab league as a regional organization. The paper also discusses the objectives, strengths and weaknesses of the league. By adopting descriptive-historical research from library instrument, findings show that, there is no doubt that the league had recorded some appreciable level of achievements since its inception and there have equally been some challenges along the line. The paper concludes that, the Arab league must find a way to reduce the perpetual tension and violence in Palestine by working towards enthroning a peaceful relationship with Israel while retaining their cultural identity. The paper also recommends that, the Arab league should strengthen their relationship with the non-Arab Nations especially in the face of globalization to reap the benefits therein involved as a league. Arab league must ensure that Arab states stop waging needless wars between and among themselves. The Syria and Yemeni crises among others is a disgrace to the Arab world.Keywords: Arab league, Theoretical, Synergy, Federalism, Integration.JEL. A10, F15
Oil Price and Real GDP Growth of Ecuador: A Vector Autoregressive Approach
Get PDFAbstract. Ecuador is an oil exporter country but it is also an importer of oil derivatives products, in this research the relationship between the world average price of oil and the GDP per capital of Ecuador is studied, taking annual data of both from 1980 to 2015 and using the methodology of Vector Autoregressive (VAR), it is concluded according to the Impulse Response Function that a positive shock on the price of oil affects positively the GDP growth of Ecuador for 2 unit times and then returns to its natural state later. This must be explained because Ecuador is a net exporter of oil, the VAR model showed itself stable, in addition it was demonstrated that there is a causal relationship of GDP to the Price according to methodology of Toda-Yamamoto.Keywords. Average Oil price, GDP, VAR, Ecuador.JEL. C32, 040, F20
Trade, Growth and Economic Inequality in the Asia-Pacific Region: Lessons for Policymakers
Get PDFAbstract. This policy brief is intended to provide policymakers with a summary of the results of our research project entitled “Trade, Growth and Economic Inequality in the Asia-Pacific Region”, which explores and documents the linkages between international trade and inequality in the Asia-Pacific Region (APR).The project’s eleven research papers appeared in a special issue of the Journal of Asian Economics in February 2017. Overall, we conclude that the relationships between international trade, foreign direct investment (FDI), economic growth and inequality are extremely complicated, so no single theory should be relied upon for policy guidance across all APR countries with their varying stages of development and unique characteristics. Our studies find some evidence that trade or FDI contribute to inequality, some evidence that it reduces inequality and some evidence of no causal relationship. These seemingly conflicting results are not at all surprising given the complex relationships involved and the different countries, time periods, and means of measuring inequality, trade and FDI our authors adopted. Our main takeaway for policymakers is to be wary of both anti-trade and pro-trade advocates who provide “one size fits all” advice related to trade, FDI and inequality; these economic relationships are much too complex for that.Keywords. International trade, Foreign direct investment, Economic growth, Economic inequality.JEL. F13, F14, F16, F21, F23, J31
A scientific evaluation of an organization and its leadership and administrative prastices: Report of management
Get PDFAbstract. This article intends provide an evaluation of an organization based on organizational theories, developed largely by W. Edwards Deming, Jerry B. Harvey, and other theorists. Drawing from these theories, the authors apply different methods to conduct an organizational study, evaluating a mid-size organization located in the United States, and make recommendations for improvement to upper management.Keywords. Organizational study, Abilene paradox, Phrog farms, Feararchy, Deming’s diseases, Leadership.JEL. A10, A13, A14