Academic literature on the topic 'Effect of terms of trade on'

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Journal articles on the topic "Effect of terms of trade on"

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Campolmi, Alessia, Harald Fadinger, and Chiara Forlati. "Trade policy: Home market effect versus terms-of-trade externality." Journal of International Economics 93, no. 1 (May 2014): 92–107. http://dx.doi.org/10.1016/j.jinteco.2013.12.010.

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Ai-Young Kim. "Effect of Terms of Trade on Trade Balances: Evidence from Korea." Journal of International Trade & Commerce 10, no. 6 (December 2014): 989–1002. http://dx.doi.org/10.16980/jitc.10.6.201412.989.

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Gnangnon, Sèna Kimm. "Multilateral Trade Liberalization and Terms of Trade Volatility." Journal of International Commerce, Economics and Policy 09, no. 03 (October 2018): 1850007. http://dx.doi.org/10.1142/s1793993318500072.

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The world has experienced in recent years a rising anti-trade and anti-globalization sentiment, which would likely jeopardize recent efforts by the international trade community, in particular Members of the World Trade Organization (WTO), to promote multilateral trade liberalization (MTP). The current article investigates the impact of MTP on countries’ terms of trade volatility. Results based on a large panel dataset suggest that MTP exerts a significant reducing effect on countries’ terms of trade volatility. However, this impact appears to be dependent on countries’ development level. The take-home message is that greater cooperation on trade matters, including among WTO Members would help promote multilateral trade liberalization, which would surely contribute to reducing terms of trade volatility, for the benefits of all countries, in particular developing economies.
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Lukáčik, Martin, Karol Szomolányi, and Adriana Lukáčiková. "Terms-of-Trade Shocks and Slovak Economy." Acta Universitatis Bohemiae Meridionalis 19, no. 1 (June 1, 2016): 10–19. http://dx.doi.org/10.1515/acta-2016-0006.

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Abstract Using the structural vector auto-regression analysis of the terms-of-trade, trade balance, output, consumption and investment cyclical components we show that the relationship between the terms-of-trade and trade balance is negative and that the terms-of-trade shocks explain only a small fraction of business cycles in the Slovak economy. We use quarterly data in constant prices in the period 1997-2014. The results are in line with the theoretical and empirical studies in the contemporary world economic literature. The negative relationship between the terms-of-trade and the trade balance confirms a theoretical Obstfeld-Svensson-Razin effect. The positive effect of a change in the terms-of-trade on the trade balance – so called Harberger-Laursen-Metzler effect – is the smaller, the more persistent terms-of-trade shocks are. By capital adjustment costs, the theoretical effect may be even negative. A modest contribution of the terms-of-trade shocks to the business-cycle fluctuations in Slovakia is in line with other empirical papers around the world.
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Ijaz, Kiran, Muhammad Zakaria, and Bashir A. Fida. "Terms-of-Trade Volatility and Inflation in Pakistan." LAHORE JOURNAL OF ECONOMICS 19, no. 1 (January 1, 2014): 111–32. http://dx.doi.org/10.35536/lje.2014.v19.i1.a5.

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This empirical study examines the effects of terms-of-trade (TOT) volatility on inflation in Pakistan, using annual data for the period 1972 to 2012. The results show that TOT volatility has a significant negative effect on inflation in Pakistan. This result is robust to alternative equation specifications and TOT volatility measures. Output growth has a negative effect on inflation while foreign export prices have a positive effect on inflation. Both the depreciation of the nominal exchange rate and money supply increase the inflation rate. The fiscal deficit and world oil prices are also found to increase domestic inflation.
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Yang, Zhi Xue. "Low-Carbon Economy: Terms of Trade and Welfare Effect of China." Advanced Materials Research 113-116 (June 2010): 91–95. http://dx.doi.org/10.4028/www.scientific.net/amr.113-116.91.

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Controlling CO2 emissions without hindering economic development is a major challenge for China. Carbon barrier is a new trade barrier related with carbon trading, which will be a new tool of protectionism in foreign trade. This article expounds the relationship between international trade and economic growth by a standard trade model, analyzes the impact on trade and economic growth of carbon barrier by join a new variable in the model. We suggest that China should create a favorable international environment, draw up carbon trading policies and regulations, actively participate in international carbon trading, fight for pricing by boosting domestic carbon trading market, and take an active and effective adjustment of its industrial structure, increasing the share of service trade as well as other low-carbon forms and methods of trade to cope with the challenge.
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Kowalczyk, Carsten, and Raymond Riezman. "Free trade: what are the terms-of-trade effects?" Economic Theory 41, no. 1 (August 22, 2008): 147–61. http://dx.doi.org/10.1007/s00199-008-0407-z.

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Nepran, A., I. Rudenko, A. Kolesnyk, T. Kulynych, and O. Bogoyavlenskiy. "«TRADE TERMS» EFFECT ON THE UKRAINIAN PAYMENT BALANCE STATE." Financial and credit activity: problems of theory and practice 3, no. 34 (September 30, 2020): 343–50. http://dx.doi.org/10.18371/fcaptp.v3i34.215559.

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Corsetti, Giancarlo, Philippe Martin, and Paolo Pesenti. "Productivity, terms of trade and the ‘home market effect’." Journal of International Economics 73, no. 1 (September 2007): 99–127. http://dx.doi.org/10.1016/j.jinteco.2006.08.005.

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Jawaid, Syed Tehseen, Abdul Waheed, and Aamir Hussain Siddiqui. "Terms of trade and economic growth in developing country." Journal of Chinese Economic and Foreign Trade Studies 13, no. 1 (April 20, 2020): 1–19. http://dx.doi.org/10.1108/jcefts-07-2019-0035.

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Purpose The purpose of this study is to investigate the first time ever the effects of overall terms of trade, bilateral terms of trade and main commodity groups’ terms of trade on economic growth. Design/methodology/approach Augmented Dickey Duller and Philips Perron unit root tests and Johensan cointegration test have been applied by using annual time series data from 1974 to 2017. Dynamic ordinary least square and fully modified ordinary least square have also been used to perform sensitivity analysis. Findings The cointegration test confirm the positive long-run relationship between overall terms of trade (ToT) and economic growth. Country-wise results show that ToT with Australia, Bangladesh, Canada, Hong Kong, Japan, Kuwait, Malaysia, Singapore, Sri Lanka, UK and the USA have significant positive effect on economic growth. Conversely, ToT with China and UAE has significant negative effect on economic growth. In contrast, ToT with India, Norway, Saudi Arabia and Switzerland has insignificant effect on the economic growth of Pakistan. Product-wise results indicate that the product group namely, Chemical, Crude Material inedible except fuels, Manufactured and Minerals fuels and Lubricant found to be a significant positive effect on economic growth. However, Beverages and Tobacco, and Machinery and Transport product groups found to be significant negative impact on economic, while Food and Live animals found to be insignificant. Practical implications In general, it is suggested that the beneficial terms of trade are favorable for economic growth. The study suggested export promotion policy for which relationship between ToT and economic growth found positive and import substitution policy is suggested the products found a negative relationship between the said variables. Originality/value This paper is a pioneer attempt to investigate the effect of overall ToT, bilateral terms of trade and the main commodity group’s ToT on economic growth in Pakistan.
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Dissertations / Theses on the topic "Effect of terms of trade on"

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Cederlöf, Jonas. "Are the labor market conditions causing the terms of trade to deteriorate? : A statistical evaluation of the Prebisch- Singer hypothesis." Thesis, Stockholms universitet, Statsvetenskapliga institutionen, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:su:diva-88437.

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The study examines to what extent weak labor unions and an abundance of labor have a negative effect on less developed countries terms of trade, as hypothesized by Hans Singer (1950) and Rául Prebisch (1950). Using a sample from panel data for 74 less developed countries during the period 1980 – 2010 in OLS-regressions with fixed effects, I find some evidence that weak labor unions and abundance of labor is negatively correlated with the terms of trade, which could be interpreted in favor of the Prebisch-Singer hypothesis. The marginal effect of an abundance of labor also appears to have less negative impact on the terms of trade as labor unions grow stronger.
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Michelitsch, Roland. "Do terms of trade have to worsen for developing countries? How low-income elasticity of demand affects the terms of trade in a laboratory market, in combination with the effect of market power." Diss., The University of Arizona, 1993. http://hdl.handle.net/10150/186255.

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A laboratory economy was created to test the influence of both market power and low income elasticity of demand on the terms of trade. The Prebisch-Singer "Theory of Unequal Exchange" predicts that terms of trade worsen for developing countries, due to low income elasticity of demand for their primary product exports. A model is presented to show that, ceteris paribus, the terms of trade improve with population growth and differential technological progress. The effect of market power on the terms of trade was analyzed by comparing a 'competitive' market, a primary commodity cartel, and an industrial monopoly. The competitive (price taker) model predicts declining prices in both markets and worsening terms of trade as production grows. The cartel model predicts higher prices of the primary product, which increase as income grows, lower prices of the manufactured product, and better and improving terms of trade. The monopoly model predicts lower prices for primary commodities, higher and increasing prices in the market for manufactured products, and lower and worsening terms of trade. Experimental results. Trading occurred in a multiple-unit double auction. Prices usually converge from above in both markets. Only sellers succeed in exploiting their market power, buyers fail to do so. In the competitive design, prices in both markets generally converge to the competitive equilibrium. The terms of trade worsen in all experiments as income grows (caused by the low income elasticity of demand), confirming the prediction of the Prebisch-Singer model. The commodity cartels increase primary export prices, but cannot stop the decline of prices when income increases. They cannot decrease prices of the manufactured product. Terms of trade for the cartels are usually better and do not always worsen. Earnings of industrialized countries facing the cartel are lower than competitive, but earnings of the cartel members are not significantly higher. The single industrial country fails to lower prices for primary products, but can charge higher prices for manufactured products. Terms of trade usually improve as income grows, contradicting both the competitive and the cartel model. When the monopoly faces a cartel, a substantial deadweight loss occurs.
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Koya, Sharmistha N. "Terms of trade effects on PPP and incomes of primary-commodity exporting countries." Diss., This resource online, 1994. http://scholar.lib.vt.edu/theses/available/etd-10022007-145406/.

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Malmström, Anna. "The alleged negative consequence of higher productivity : An empirical analysis on the effect of relative productivity on terms of trade." Thesis, Uppsala University, Department of Economics, 2007. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-7655.

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The relationship between increased productivity and improved standard of living is not a questioned statement on the global level, but does productivity growth necessarily lead to higher standard of living on the national level? Supported by empirical results it is suggested that a high relative productivity growth should not always be worth striving for, since it translates into decreased welfare, in terms of deteriorated terms of trade. This study attempts to examine the impact of relative productivity on the terms of trade in the OECD-countries and in Sweden, with an error-correction model. Further is an extension of the purpose made in order to estimate the impact of increased relative productivity growth on the welfare. The results suggest that the method for measuring productivity has a great impact on the findings, but concludes that a 1% higher relative labour productivity growth is associated with a 0.23% decline in the terms of trade.

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Wells, Lauren E. "The short-term effect of the movement of the USD on oil prices." View electronic thesis, 2008. http://dl.uncw.edu/etd/2008-3/wellsl/laurenwells.pdf.

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Bochard, Nicolas. "Effet de halo santé : une explication en termes de fausse attribution affective." Thesis, Université Grenoble Alpes (ComUE), 2018. http://www.theses.fr/2018GREAS043/document.

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Les labels présents sur les emballages (e.g., « bio », « commerce équitable ») peuvent pousser les individus à sous-évaluer le contenu calorique des aliments, créant ainsi un effet de halo santé. Dans cette thèse, nous défendons l’idée qu’un mécanisme de fausse attribution affective pourrait en partie expliquer cet effet de halo santé. Nous présenterons 11 études ayant pour but de tester empiriquement cette hypothèse. Parmi les principaux résultats, nous avons montré qu’il était possible d’observer cet effet même si les individus ne rapportent pas avoir pris en compte le label dans leur évaluation (Etudes 3) et dans un contexte de double tâche entravant un raisonnement délibéré de leur part (Etudes 4 et 5). Nous avons également pu montrer, par le biais d’une tâche de fausse attribution affective, qu’un stimulus neutre, lorsqu’il est précédé d’un label bio (vs. une image contrôle) est ensuite évalué plus positivement (Etudes 6, 7 et 8). Enfin, nous avons observé une congruence systématique entre la valence de l’amorce (i.e., le label) et la valence de l’évaluation subséquente d’un stimulus neutre (i.e., le contenu calorique d’un produit alimentaire ; Etudes 9, 10 et 11). Ce biais cognitif relatif à nos évaluations caloriques apparaît donc comme un phénomène robuste, ne faisant intervenir que peu d’inférences délibérées de la part des individus et étant guidé par la valence du label (qu’il soit positif ou négatif)
Labels on food products can lead to unwarranted inferences: organic and fair-trade products are perceived as containing fewer calories. This effect is described in the literature as the health halo effect. In this thesis, we argue that an affective misattribution mechanism can partially explain this effect. We present 11 studies testing empirically this hypothesis.Among our main results, we show that this effect still occurs even if participants did not mention that they used the label in their evaluation (Study 3) and when they are under cognitive load, hindering a deliberate reasoning (Studies 4 and 5). By using an affective misattribution procedure, we also show that when a neutral stimulus is preceded by an organic label (vs. a control picture), this stimulus is then evaluated more positively (Studies 6, 7, and 8). Finally, we observed a systematic congruency between the valence of the prime (i.e., the label) and the valence of the evaluation of a neutral stimulus (i.e., the caloric content of a food product; Studies 9, 10, and 11). Taken together, these studies suggest that this cognitive bias is a robust phenomenon, involving a few inferences and mainly driven by the valence of the label (whether positive or negative)
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Curado, Thiago Luiz. "Terms of trade, macroeconomic dynamics and default decisions." reponame:Repositório Institucional do FGV, 2015. http://hdl.handle.net/10438/13657.

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There is substantial evidence that terms of trade behavior are relevant to understand both the macroeconomic dynamics and the default risk of emerging markets. Nevertheless, the literature of sovereign debt that follows Eaton and Gerzovitz (1981) and Arellano (2008) has not yet adequately explored the connections between terms of trade and default incentives. We advance in this field, introducing terms of trade volatility to the model proposed by Mendoza and Yue (2012), where the sovereign debt decisions are linked to a general equilibrium model for the domestic economy. We find that an economy that faces stochastic terms of trade innovations can produce a consumption variability that highly exceeds the output variability, which is a key stylized fact of emerging markets business cycles. Our exercises also show that default episodes are driven by sudden shifts in the terms of trade but are no necessary related with bad times.
A evidência empírica aponta que Termos de Troca é uma variável relevante tanto para dinâmica macroeconômica como para o risco de default em países emergentes. No entanto, a literatura de dívida soberana baseada nos trabalhos de Eaton e Gerzovitz (1981) e Arellano (2008) ainda não explorou de forma adequada as conecções entre a dinâmica de termos de troca e incentivos ao default. Nós contribuímos nessa área, introduzindo volatilidade de Termos de Troca no modelo proposto por Mendoza e Yue (2012), no qual as decisões de dívida soberana são vinculadas à um modelo de equilíbrio geral para a economia doméstica. Nós encontramos que uma economia exposta à volatilidade dos termos de troca consegue produzir uma variabilidade do consumo que supera significativamente a variabilidade do produto, característica que constitui um fato estilizado chave de business cycles de países emergentes. Nossos exercícios também mostram que decisões de default são geradas por mudanças bruscas nos termos de troca, mas não necessariamente estão vinculados à estados ruins da economia.
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Makhlouf, Yousef. "Essays on commodities, terms of trade and development." Thesis, University of Essex, 2015. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.701514.

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Significant changes in commodity prices imply serious challenges for many national economies, especially for those located in developing countries. Although the extant literature has investigated some of the effects, as well as the determinants, of commodity price movements, there are still many gaps in this field. This thesis fills some of these gaps in an attempt to achieve a deeper understanding of commodity price effects. To do so, the thesis employs a country-specific commodity index, commodity terms of trade (CTOT), which reflects the national dimension of global commodity price fluctuations by accounting for national commodity trade structures. The first essay examines two characteristics of commodity prices, trend and volatility, as potential channels of the relatively well studied resource curse phenomenon . In particular, the results show that CTOT volatility (growth) prevents (enhances) economic growth of commodity exporters. Additionally, this chapter demonstrates that financial development and fiscal policy affect CTOT volatility in countries that are recognized as leaders of commodity demand e.g. developed countries. The second essay focuses on the CTOT measure itself by evaluating the effects of typical commodity price determinants on CTOT growth. This models the aggregate, country-level effect of these global determinants, and hence removes the ambiguity caused by their mixed effects across individual commodities. The results show that determinants that boost commodity prices improve (deteriorate) CT9.T growth for commodity exporters (importers) and vice versa for determinants that lower commodity prices. Importantly, emerging market growth is the only determinant that universally and consistently affects the CTOTs in four groups of countries, classified by whether they are exporters or importers, and whether their trade basket is dominated by oil or not. Finally, the third essay studies the relationship between CTOT growth and volatility and child mortality. Child mortality is an important indicator of a country's welfare, yet its nexus with commodity prices remains underexplored. The essay examines this relationship not only for commodity-exporters but also for commodity- importers .. Additionally, the essay investigates how democracy and commodity dependence influence this relationship. The main finding is that CTOT volatility raises child mortality especially on commodity importers. This spots new light on commodity dependence outcomes as the literature traditionally focuses on commodity-exporters, solely. However, democracy and low-commodity dependence can mitigate this effect.
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Kang, Kichun. "The path of export variety and terms of trade /." For electronic version search Digital dissertations database. Restricted to UC campuses. Access is free to UC campus dissertations, 2005. http://uclibs.org/PID/11984.

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Berge, Kersti Gallie. "The terms of trade : theoretical foundations and empirical measurement." Thesis, University of Oxford, 2002. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.270599.

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Books on the topic "Effect of terms of trade on"

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Pakistan Institute of Development Economics, ed. Analysing the terms of trade effect for Pakistan. Islamabad: Pakistan Institute of Development Economics, 2010.

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Corsetti, Giancarlo. Productivity spillovers, terms of trade and the "home market effect". Cambridge, Mass: National Bureau of Economic Research, 2005.

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Corsetti, Giancarlo. Productivity spillovers, terms of trade, and the "home market effect". [New York, N.Y.]: Federal Reserve Bank of New York, 2005.

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Gregorio, Jose De. Terms of trade, productivity, and the real exchange rate. Cambridge, MA: National Bureau of Economic Research, 1994.

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Andersen, Torben M. Persistent terms of trade effects of nominal shocks. Amsterdam: De Nederlandsche Bank NV, 1999.

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Serven, Luis. Terms-of-trade shocks and optimal investment: Another look at the Laursen-Metzler effect. Washington, D.C: The World Bank, Policy Research Dept., Macroeonomics and Growth Division, 1995.

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Oblath, Gabor. The terms-of-trade effects from the elimination of state trading in Soviet-Hungarian trade. Washington, DC (1818 H St. NW, Washington 20433): Technical Dept., Europe, Middle East, and North Africa Regional Office, 1991.

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E, Anderson James. Terms of trade and global efficiency effects of free trade agreements, 1990-2002. Cambridge, MA: National Bureau of Economic Research, 2011.

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Schiff, Maurice W. Market presence, contestability, and the terms-of-trade effects of regional integration. Washington, D.C: World Bank, Development Research Group, Trade, 2001.

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Spatafora, Nikola. Macroeconomic effects of terms-of-trade shocks: The case of oil-exporting countries. Washington, D.C: World Bank, International Economics Department, International Economic Analysis and Prospects Division, 1995.

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Book chapters on the topic "Effect of terms of trade on"

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Nevin, Edward. "Terms of Trade and Dynamic Effects." In The Economics of Europe, 87–97. London: Macmillan Education UK, 1990. http://dx.doi.org/10.1007/978-1-349-20923-1_9.

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Stuvel, G. "Terms-of-trade Effects and Real National Income." In National Accounts Analysis, 68–77. London: Palgrave Macmillan UK, 1986. http://dx.doi.org/10.1007/978-1-349-08380-0_7.

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El-Agraa, Ali M. "Estimating the Effects of Integration on the Terms of Trade." In The Theory and Measurement of International Economic Integration, 291–304. London: Palgrave Macmillan UK, 1989. http://dx.doi.org/10.1007/978-1-349-10203-7_13.

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El-Agraa, Ali M. "Estimating the Effects of Integration on the Terms of Trade." In Regional Integration, 342–53. London: Palgrave Macmillan UK, 1999. http://dx.doi.org/10.1057/9780230595866_17.

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Mokhtarzadeh, Fatemeh. "A global vector autoregression model for softwood lumber trade." In International trade in forest products: lumber trade disputes, models and examples, 174–93. Wallingford: CABI, 2021. http://dx.doi.org/10.1079/9781789248234.0174.

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Abstract A novel econometric approach is developed in this chapter, namely, the Global Vector Autoregressive (GVAR) model. It provides a comprehensive framework for analyzing the country-level impacts of various domestic, foreign, and/or global shocks on softwood lumber trade. The GVAR approach is applied to Canada-U.S. trade in softwood lumber and used to analyze the effect of external shocks on Canadian lumber prices. Findings indicate that Canada's export prices are positively correlated to U.S. housing starts and real GDP. Further, using impulse response functions, it is used to examine the effects on regional lumber export prices in Canada of: (1) a change in U.S. housing starts; (2) a reduction in U.S. GDP by one standard deviation; (3) a COVID-19 induced decline in U.S. GDP (of three standard deviations); (4) an increase in global oil prices; and, in the Appendix, (5) an increase in the long-term interest rate. Price impacts vary a great deal by Canadian region depending on the type of shock, with the propagation mechanism in Alberta significantly different from that in other regions. For example, with an oil price shock and because Alberta is a major exporter of oil, the lumber export price remains high even as the shock dissipates over time.
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Mokhtarzadeh, Fatemeh. "A global vector autoregression model for softwood lumber trade." In International trade in forest products: lumber trade disputes, models and examples, 174–93. Wallingford: CABI, 2021. http://dx.doi.org/10.1079/9781789248234.0008.

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Abstract A novel econometric approach is developed in this chapter, namely, the Global Vector Autoregressive (GVAR) model. It provides a comprehensive framework for analyzing the country-level impacts of various domestic, foreign, and/or global shocks on softwood lumber trade. The GVAR approach is applied to Canada-U.S. trade in softwood lumber and used to analyze the effect of external shocks on Canadian lumber prices. Findings indicate that Canada's export prices are positively correlated to U.S. housing starts and real GDP. Further, using impulse response functions, it is used to examine the effects on regional lumber export prices in Canada of: (1) a change in U.S. housing starts; (2) a reduction in U.S. GDP by one standard deviation; (3) a COVID-19 induced decline in U.S. GDP (of three standard deviations); (4) an increase in global oil prices; and, in the Appendix, (5) an increase in the long-term interest rate. Price impacts vary a great deal by Canadian region depending on the type of shock, with the propagation mechanism in Alberta significantly different from that in other regions. For example, with an oil price shock and because Alberta is a major exporter of oil, the lumber export price remains high even as the shock dissipates over time.
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Bloch, Harry, and David Sapsford. "Prebisch and Singer Effects on the Terms of Trade between Primary Producers and Manufacturers." In Development Economics and Policy, 35–62. London: Palgrave Macmillan UK, 1998. http://dx.doi.org/10.1007/978-1-349-26769-9_4.

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Baker, Mel. "Trade Terms." In The Skills of Plastering, 87–90. London: Macmillan Education UK, 1990. http://dx.doi.org/10.1007/978-1-349-11073-5_21.

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Findlay, Ronald. "Terms of Trade." In The World of Economics, 665–71. London: Palgrave Macmillan UK, 1991. http://dx.doi.org/10.1007/978-1-349-21315-3_92.

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Findlay, Ronald. "Terms of Trade." In The New Palgrave Dictionary of Economics, 1–6. London: Palgrave Macmillan UK, 1987. http://dx.doi.org/10.1057/978-1-349-95121-5_1510-1.

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Conference papers on the topic "Effect of terms of trade on"

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Sağlam, Yağmur, and Hüseyin Avni Egeli. "Real Exchange Rate Effects on Trade and Immiserizing Growth: The Case of Turkey 2003-2013." In International Conference on Eurasian Economies. Eurasian Economists Association, 2014. http://dx.doi.org/10.36880/c05.00863.

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The aim of this study is to examine the long run relationship between real exchange rates and trade within terms of immiserizing growth for Turkey. The relationship between real exchange rates and trade are taking into consideration with two approach which are pass-through and standard theory. So it is observed that which approach is valid for Turkey. Also we tried to see if trade policies which on terms of trade create immiserizing growth or not during the period. We used unrestricted Vector Autoregressive Model (VAR) analysis to see the relationship between real exchange rate and trade rate, growth. Also we added a dummy into the VAR which demonstrate the structural break for global economic crisis as an exogenous variable. The results of the application are; in the long term there is no cointegration between trade rate and real exchange rates and growth. So for the short term; the dummy was statistically significant and affects the distribution of series; the relationship between trade rate and real exchange rates are very weak and rarely supports the Standard Theory. Also terms of trade impacts growth rate positively but the effects of growth rate on terms of trade is indeterminate. So there is not an immiserizing growth in Turkey for the period between 2003 and 2013.
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Yapraklı, Sevda, Mehmet Sinan Temurlenk, Adem Türkmen, and Aslı Cansın Doker. "The Effects Service Trade on Transition Economies: 2000-2010." In International Conference on Eurasian Economies. Eurasian Economists Association, 2014. http://dx.doi.org/10.36880/c05.00972.

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While emerging information technologies have been infusing to the production of manufactured goods at higher rate for widespread use of services, with this case, the services sector in terms of production and consumption eliminates the need to have done. Moreover, many service branches have been subject to international trade and more with each year, the share of service trade is increasing in international trade. International service trade with helping to close the technological development gap between developing and developed countries has significant role on economic growth, realization for process of economic development in structural imbalances and accordingly the macroeconomic policy response. International service trade of the country's economic transformation in the process, it is purposed that production function method based on the model is used in the context of traditional and modern service trade on economic growth, to examine the effects and the impacts on direction of the transition economies between 2000 and 2010. For 15 transition economies having satisfied data; the effects of modern and traditional trade in service on growth rate is examined with using panel data analysis. The model shows that accumulation of capital per capita and for representing human capital chosen the received tertiary education enrolment rate, traditional and modern trade in service has significant effect on growth. On the other hand, openness has no significant effect on growth for chosen country group and identified time period. It can be said that policies aimed physical and human capital stock can create significant effect on growth.
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Feng, Zhaozan, Wei Li, and Tingting Wu. "Effect of Nano-Cluster Compactness on Thermal Physical Properties of Nanofluids." In ASME/JSME 2011 8th Thermal Engineering Joint Conference. ASMEDC, 2011. http://dx.doi.org/10.1115/ajtec2011-44453.

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This paper reports an experimental work on the viscosities of 30% (in volume) ethylene glycol water solution based nanofluids, and presents a critical analysis of the experimental reports on thermal conductivity and dynamic viscosity in terms of the mechanism of aggregation and show that, by manipulating the morphology of the aggregates, the first-best trade-off between the thermal conductance and rheological behavior of general nanofluids can be approximately achieved. Attempt to regulate the viscosity of nanosized SiO2 suspensions was made following a semi-empirical method named particle grading.
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Gültekin, Raşit, and Mustafa Erkan Üyümez. "Free Trade Agreement between Turkey and Russian Federation and its Possible Effects to these Countries’ Trade and Taxational Reflections." In International Conference on Eurasian Economies. Eurasian Economists Association, 2015. http://dx.doi.org/10.36880/c06.01300.

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The last period of international trade in goods covers a process carried out with globalization and regionalization efforts. Many countries, on the one hand, take part in arrangements that are executed under the leadership by global actors and aim at removing or reducing conventional obstacles to international trade, on the other hand, participate in various and regional economic integrations to provide a more deep and comprehensive economic cooperation and to cope with the competition and trade restrictions which continually increasing due to political, commercial and economical motives. Trade relations between Turkey and Russian Federation is an important element of the two countries' multidimensional cooperation. The most effective attempt to raise the top level of the volume and quality of existing commercial relationships will be the signing and putting into practice of a comprehensive free trade agreements between the two countries that have not been done previously. The purpose of this study is to determine the potential effects of such a free trade agreements between Turkey and Russian Federation in terms of trade in goods between two countries. To this end, in this study, theoretical aspects of free trade agreements' effects and place within regional integration types will be considered the impact of the possible Turkey-Russia free trade agreement will be examined in a framework of basic provisions with customs duties that set out in free trade agreements, recent trade data and key issues related to these countries.
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Durusoy, Serap. "Destructive mid- and long-term Side Effect of the Crisis: Rising Protectionism." In International Conference on Eurasian Economies. Eurasian Economists Association, 2013. http://dx.doi.org/10.36880/c04.00636.

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Finance based crisis with its effect felt in the second quarter of 2007 has acquired global characteristics, and taken held of many countries. Global crisis not only has worn down constructive opinions regarding global capitalism, which played an important role in shaping the 20 th, but it has also discredited market economies. Thus, in many countries, including the United States of America, public rescue package implementations have lead to more desirable state interventions.On the other hand, economic activities in the global arena following the crisis slowed down and it became more difficult for financial structures to exist, and reduction in global trade movements were observed.This situation has lead for countries to include protective policies against the crisis as well. In study, protective studies will be addresssed, which wear down the globalization acting as a descriptive property of both experimental and normative reality in the definition of the process we are currently experiencing. As the economic problems gradually increase, the kind of shapes trade constrictions and protective instincts illustrate themselves and possible results of this will be examined on a country basis (EURASİAN, USA, EU, OECD). Expecially, it will be examined whether protectionism is the right solition policy against the crisis on not, and then the degree of the effect of this policy in the drop experienced in the recent months in international trade will be addressed. Lastly, the type of measurements taken in the international arena regarding protectionism and suficiently of the measurements will be assessed.
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Storhaug, Gaute, Erlend Moe, and Gabriel Holtsmark. "Measurements of Wave Induced Hull Girder Vibrations of an Ore Carrier in Different Trades." In 25th International Conference on Offshore Mechanics and Arctic Engineering. ASMEDC, 2006. http://dx.doi.org/10.1115/omae2006-92284.

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Currently, the conventional wave loading is the only effect considered in fatigue assessment of ships. DNV has recently confirmed that fatigue damage from wave induced vibrations may be of similar magnitude as from the conventional wave loading (Moe et al. 2005). A 40% contribution to the total fatigue damage in deck amidships is documented through extensive measurements onboard an ore carrier (the reference ship) trading in the North Atlantic. The effect of strengthening the vessel, increasing the natural frequency by 10%, is ineffective to reduce the relative magnitude of the vibration damage. The wave induced vibration, often referred to as whipping and/or springing, does contribute to fatigue damage also for other ship types and trades (Moe et al. 2005). This paper considers the effect of trade. It indicates when the wave induced vibrations should be accounted for in the design phase with respect to fatigue damage. A second ore carrier (the target ship) is monitored with respect to the wave induced hull vibrations and their fatigue effect. Stress records from strain sensors located in the midship deck region are supplemented by wave radar and wind records. Based on the measurements, the vibration stress response and associated vibration induced fatigue damage are determined for varying wind- and wave forces and relative headings. While the reference ship operates in the Canada to Europe ore trade, the target ship trades between Canada and Europe, Brazil and Europe, and South Africa and Europe. A procedure is suggested by Moe et al. (2005) to estimate the long term fatigue damage for different trades by utilizing the measured data from the reference ship. The vibration and wave damage are considered separately. By comparing the measured wave environment and the DNV North Atlantic scatter diagram, the effect of routing indicated a reduction of the fatigue damage by one third. A slightly revised procedure is applied to estimate the effect of trade for the second ore carrier, comparing the long term predicted fatigue damage with the measured fatigue damage. The importance of trade is confirmed. However, the relative contribution of the vibration damage is shown to increase in less harsh environments. The target ship vibrates more than the reference ship for the same trade and Beaufort strength. The vibration damage of the target ship constitutes 56% of the total measured damage, and the high natural frequency is observed to have no significant effect.
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Ersungur, Ş. Mustafa, Mehmet Barış Aslan, and Ömer Doru. "The Econometric Analysis in the Sectorial Basis of Income and Price Effects on the Foreign Trade Deficits: The Case of Turkey." In International Conference on Eurasian Economies. Eurasian Economists Association, 2017. http://dx.doi.org/10.36880/c08.01864.

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In Turkey which is one of the countries whose current account deficit has been chronic from the 1980s until today, the most important reason for the current account deficit is foreign trade deficit. The aim of our study in this context is to shed light on policies oriented foreign trade deficits by examining foreign trade of intermediate and capital goods which are one of the most important causes of foreign trade deficits in Turkey, in terms of income and exchange rate indicators. In the study in which the Marshall-Lerner condition and the foreign and domestic income elasticities were tested separately for each model, the Econometric method and quartile data between 1998 to 2014 were used. The results of the study showed that Marshall-Lerner condition is not valid in foreign trade of any goods group, and domestic and foreign income variable coefficients are strong effect on both imports and exports. In the direction of these results, we think that the economic policies to be developed for domestic and foreign revenues will be more effective than the real exchange rate policies for being decreased the foreign trade deficits of both intermediate and capital goods in Turkey.
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Bal, Harun, Müge Manga, and Esma Erdoğan. "Testing the Validity of Linder Hypothesis Using Gravity Model: The Case of Turkey and Selected Transition Economies." In International Conference on Eurasian Economies. Eurasian Economists Association, 2019. http://dx.doi.org/10.36880/c11.02261.

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In this study, the validity of the Linder Hypothesis has been tested based on export and import intensity of foreign trade flows between Turkish economy and selected Transition Countries. According to this hypothesis, the more similar the demand structures and per capita income levels of countries, the more they will trade with one another. The hypothesis uses the difference between the per capita income of countries engaged in foreign trade as the main parameter and indicates that a fall in income difference between two countries increases the validity of the Linder hypothesis by increasing the intensity of foreign trade of the countries. The study considers selected Transition Countries having rising share of foreign trade with Turkey during the period 2001-2017 to examine the validity of Linder Hypothesis in the context of foreign trade flows employing Gravity Models that shows "Aggregate Linder Demand Effect" and panel data analysis. Test results does not support Linder hypothesis in terms of export and import intensity of foreign trade flows between Turkish economy and selected Transition Countries during 2001-2017, rather factor endowment does matter for inter-industry foreign trade.
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Songur, Mehmet, and Demet Yaman. "The Effect of Foreign Direct Investment and Foreign Trade on Gross Domestic Product in Eurasian Countries: Panel Cointegration Analysis." In International Conference on Eurasian Economies. Eurasian Economists Association, 2013. http://dx.doi.org/10.36880/c04.00740.

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In recent years, with the phenomenon of globalization, both foreign trade and foreign direct investment have become important factors that impact on economic growth. The effect of foreign trade and foreign direct investment on economic growth has been an important research area for many economists. For this purpose, this study investigates the effects of foreign direct invesment and foreign trade on economic growth, with the help of Pedroni Panel Cointegration Analysis,for 9 Eurasian countries using annual data for the period 1995-2011.The results show that in analyzed countries, there has been a long-term relationship between the variables. The results of cointegration coeffficients show that, import and export has a negative impact but foreign direct invesment has a positive impact on GDP. From these results, Eurasian economies on one hand should develop policies to increase the effeciency of foreign direct invesment and increase foreign trade. On the other hand Eurasian economies should improve policies to increase the economic and human infrastructure.
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Özdemir, Zekai, İlkay Noyan Yalman, and Çağatay Karaköy. "Effects of Openness on Employment in Turkey and EU Countries." In International Conference on Eurasian Economies. Eurasian Economists Association, 2014. http://dx.doi.org/10.36880/c05.01135.

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According to the general theory, it is recognized that exports increase employment. Recently, in the world economy, increasing unemployment, foreign trade of the impact on employment has led to new research. Many of the aforementioned studies validating the theory, some of them have different results. In recent studies in Turkey was a different result. In this study, Turkey and the European Union countries in terms of trade effect on employment will be examined. For this purpose, employment and foreign trade data for the years 2000-2012 using a panel data analysis will be done. Exports, imports, wages, and production depending on the change in employment and the interaction will be investigated. Depending on available data at the sectoral level, there will be a distinction. Especially in the last ten years, the recession and rise in unemployment in Europe will be discussed with the relevant dynamics. In Turkey, the current account deficit, growth, unemployment issues are noteworthy. European Union accession process, Turkey and the European Union countries in the comparison will be significant in the economic indicators.
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Reports on the topic "Effect of terms of trade on"

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Corsetti, Giancarlo, Philippe Martin, and Paolo Pesenti. Productivity Spillovers, Terms of Trade and the "Home Market Effect". Cambridge, MA: National Bureau of Economic Research, March 2005. http://dx.doi.org/10.3386/w11165.

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Anderson, James, and Yoto Yotov. Terms of Trade and Global Efficiency Effects of Free Trade Agreements, 1990-2002. Cambridge, MA: National Bureau of Economic Research, April 2011. http://dx.doi.org/10.3386/w17003.

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Sen, Partha, and Stephen Turnovsky. Deterioration of the Terms of Trade and Capital Accumulation: A Reexamination of the Laursen-Metzler Effect. Cambridge, MA: National Bureau of Economic Research, June 1988. http://dx.doi.org/10.3386/w2616.

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Feenstra, Robert, Benjamin Mandel, Marshall Reinsdorf, and Matthew Slaughter. Effects of Terms of Trade Gains and Tariff Changes on the Measurement of U.S. Productivity Growth. Cambridge, MA: National Bureau of Economic Research, December 2009. http://dx.doi.org/10.3386/w15592.

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Cárdenas-Hurtado, Camilo Alberto, Aarón Levi Garavito-Acosta, and Jorge Hernán Toro-Córdoba. Asymmetric Effects of Terms of Trade Shocks on Tradable and Non-tradable Investment Rates: The Colombian Case. Bogotá, Colombia: Banco de la República, May 2018. http://dx.doi.org/10.32468/be.1043.

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Razin, Assaf, Efraim Sadka, and Tarek Coury. Trade Openness, Investment Instability and Terms-of-Trade Volatility. Cambridge, MA: National Bureau of Economic Research, November 2002. http://dx.doi.org/10.3386/w9332.

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Andreasen, Eugenia, Sofía Bauducco, and Evangelina Dardati. Welfare Effects of Capital Controls. Inter-American Development Bank, June 2021. http://dx.doi.org/10.18235/0003307.

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This paper studies the effect of capital controls on misallocation and welfare in an economy with financial constraints. We build a general equilibrium model with heterogeneous firms, financial constraints and international trade and calibrate it to the Chilean economy. Since high-productivity and exporting firms need to borrow more to reach their optimal scale, capital controls that tax international borrowing hit them harder. As a result, misallocation increases relatively more for this group of firms, and for young firms that are still trying to reach their optimal scale. In terms of welfare, the model predicts a sizable aggregate loss of 2.39 percent when capital controls are introduced, with welfare decreasing twice as much for high-productivity firms. We empirically corroborate the main insights in terms of misallocation obtained from the model using Chilean manufacturing firm data from 1990 to 2007.
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Backus, David, and Mario Crucini. Oil Prices and the Terms of Trade. Cambridge, MA: National Bureau of Economic Research, August 1998. http://dx.doi.org/10.3386/w6697.

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Schmitt-Grohé, Stephanie, and Martín Uribe. How Important Are Terms Of Trade Shocks? Cambridge, MA: National Bureau of Economic Research, June 2015. http://dx.doi.org/10.3386/w21253.

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Kaminsky, Graciela. Terms of Trade Shocks and Fiscal Cycles. Cambridge, MA: National Bureau of Economic Research, February 2010. http://dx.doi.org/10.3386/w15780.

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