Intra-industry trade: Revisiting theory and literature survey

Abstract. Early references to intra-industry trade were mostly ignored for many years. It was only in the past two decades that intra-industry trade has received significant attention and has become a leading area for international economists. It has become increasingly common in recent decades due to the growth of international trade, globalization, and the integration of economies. Intra-industry trade can benefit countries by allowing them to specialize in their areas of comparative advantage and to access a wider range of products and services at lower prices. However, it can also pose challenges for some industries and workers who may face increased competition from foreign producers. The purpose of this paper is to review the extensive literature on intra-industry trade, assess the accomplishments of researchers in this area and predict future research directions. The paper evaluates intra-industry trade as a research program and assesses whether it can continue to advance in the future. To organize the paper, the authors evaluate current perspectives in four distinct areas: theory, measurement, empirical evidence, and policy aspects.Keywords. Intra-industry trade; Imperfect competition; Classical theories of trade.JEL. F11; F12; F13

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The ill-fated currency board proposal for Indonesia

Abstract. In February 1998 Indonesia toyed briefly with the idea of introducing a currency board system as a means of extricating itself from the Asian financial crisis. Although the then president Soeharto announced his government’s intention to implement such a system, international and domestic opposition was so vociferous that he aborted the plan. In my view this opposition was ill-informed. Moreover, it was motivated, to a considerable extent, by a desire to use the crisis to force a president widely disliked among the urban intelligentsia to discontinue some of his favoured economic policies—if not to bring about an end to his presidency—rather than giving top priority to dealing with the crisis itself. The nature of the crisis as it played out in Indonesia remains poorly understood, such that an analysis of the currency board proposal provides an opportunity to correct some misunderstandings and dispel some of the myths about this major episode in Indonesia’s modern history. In this paper I argue that in fact Soeharto’s embrace of the proposal was sensible, and that it was motivated by the desire to restore macroeconomic stability—which would have been not only to his own benefit but also that of Indonesia’s citizens.Keywords. Currency board; Proposal; Indonesia.JEL. F11; F12; F13

An economic analysis of the Bahamas Currency

Abstract. This paper seeks to answer whether the replacement of the Bahamas currency board by a central bank was a rational decision given the subsequent economic performance climate of the central bank and the Bahamian economy. The paper describes the currency board’s establishment; its switch from the pound sterling to the U.S. dollar as the anchor currency; and its replacement by a proto-central bank soon succeeded by the Central Bank of the Bahamas, which continues in existence today. Statements of the currency board from the Bahamas Gazette as well as other sources will help analyze the aforementioned periods and illustrate the effects each transition had on the economy. The paper will examine the later years of the currency board and test whether it behaved in an orthodox or unorthodox manner as well as exploring its relation to government finance.Keywords. Bahamas; Currency board.JEL. E59; N16; N26

Engaging communication and adherence to blood donation. An experiment on the impact of the preparatory act on the manifestation of retroactive behavioral intention in Cameroonian context

Abstract. The derailment of the train linking Yaoundé to Douala on October 21, 2016 gave special emotional resonance to the need for blood donation. The high number of victims and the horror of experiencing the loss of a life due to lack of blood has accentuated this issue. The daily calls for blood donations in hospitals, however, do not enjoy the same empathy. As a result, equally moving tragedies unfortunately occur in complete anonymity. The aim of this project is to set up a communication protocol to encourage young adults in our high schools, colleges and universities to give blood. Engaging communication, combined with two types of preparatory acts, is our conceptual basis for addressing this problem. As a result, behavioral induction, employing both narrative and argumentative preparatory acts, leads to the manifestation of the intention to adhere to blood donation in the participants of this study.Keywords. Intra-industry trade; Imperfect competition; Classical theories of trade.JEL. F11; F12; F13

The Malayan Currency Board, 1938-1967

Abstract. This essay examines the Malayan Currency Board from its formation in 1938 to its dissolution in 1967. It analyzes the orthodoxy of the board using high-frequency data, such as monthly statistics of currency notes in circulation. Accompanying the essay is a spreadsheet workbook which presents high-frequency data of the board in digital format for the first time, as well as balance sheets and other financial statements.Keywords. Brunei; Malaya; Malaysia; North borneo; Sarawak; Straits settlements; Singapore; Currency board.JEL. E59; N25; N26

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Influencers on economic issues in Latin America, Spain and the United States

Abstract. The technological progress in our modern societies has witnessed the emergence of persons who deploy different means of communication across social networks, seeking to generate an impact among their audiences. These efforts in social media communications attempt to alter consumption preferences and patterns, political choices, as well as reinforce or modify opinions of all sorts and stripes. Individuals who attain greater relevance due to effects they trigger on third parties are characterized as influencers, and one of their preferred means of communication are online platforms or social media. Among them, Twitter stands out as the most conducive space for debates on ideas, political parties, or public policies. This social media platform is a microblogging service that allows a person to send short messages (up to 280 characters) that are displayed on a user’s individual page, and that are replicated on their followers’ pages. In this paper, we aim to identify the most important influencers in Latin America, the United States and Spain, who use this social media network to debate issues primarily related to economics and economic policy. On this subject, there is a very strong discussion about the role that the government should play in economic life, the pros and cons of greater regulation, the problem of income distribution, the impact of inflation, and the nature of free markets and capitalism. We will first describe the methodology we employed, in order to then proceed to illustrate a ranking of the ten most relevant influencers, in terms of number of followers, from Argentina, Brazil, Colombia, Chile, Mexico, Spain, and the United States. We then explore their profiles and present an analysis of the economic issues debated on the relevant Twitter accounts on a per country basis. Finally, based on this analysis, we present a hypothesis on the positioning of influencers in economic matters.Keywords. Technological progress, Social media communications, Influencers, Economists.JEL. A10

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Strategies to prevent pandemics similar to Covid-19

Strategies to prevent pandemics can be based on manifold policy responses, not limited to health system. This study shows main aspects of different policy responses based on lessons learned from COVID-19 to constrain the emergence of novel viral agents and the diffusion of other similar infectious diseases in society.Keywords. COVID-19, Fatality rates, Health strategy, Air pollution, Sustainability, Crisis management, Policy response, Testing, Country monitoring, Pandemic response, Preventing transmission, Preparedness.JEL. G2, G10, F21, F68, O53, K23