Industrialisation: Import Substitution to Export Promotion

Import-substitution policy creates biases in the incentive structure and lowers the growth of potential exports in the long run. Trade reforms in this respect are likely to reduce the gap between domestic and border prices. The expectation is to bring better industrial performance on the lines of comparative advantages. This paper examines the import-substitution policy and the effect and impact of trade liberalisation.import substitution, exports, industrialisation, export promotion

Trade Policy Reform and the Textile, Clothing and Footwear Industry, Australia: 1993-97

Textiles, clothing and footwear (TCF) industries in Australia experienced extensive trade reforms in the 1990s, which were expected to promote a competitive TCF activities. This paper examines two hypotheses (1) trade reforms have had a positive impact on TCF industries and (2) trade reforms have had an adverse impact on Small and Medium Enterprises (SMEs). Selected growth performance variables were intensively analysed. The results of the study are consistent with hypothesis (1) but are inconclusive with hypothesis (2). It was found that the positive productivity effect of SMEs does not appear to have been translated into export gain. The needs for further research to identify and focus upon the barriers inhibiting the export performance of SMEs is suggested.trade reforms, manufacturing performance, Australia

International trade and regional income convergence: the ASEAN-5 evidence

This paper intends to show that that multilateralism and regionalism are complementary and that regional income convergence is likely with the like-minded and committed regionalism that often has links geographically and culturally. In this direction this paper examines the association between international trade, income per capita, regional income convergence in ASEAN-5 by applying the LP (Lumsdaine and Papell, 1997) approach, which allows two endogenous structural breaks. The paper further explores the causal relationships among the above variables by using Granger causality tests. We used intra-ASEAN-5’s (of the 5 founding counties) historical data by isolating the following different historical policy interventions: the introduction of Preferential Trade Agreement (PTA) in 1977 (regionalism), the unilateral liberalisation following the severe recession of the mid-1980s (non-discriminatory multilateralism), the ASEAN Free Trade Area (AFTA) formation (regionalism) in 1992 and ASEAN and more Regional Trade Agreements such as ASEAN plus China plus Korea plus Japan; India plus Malaysia; Thailand plus United States

Australia and New Zealand CER agreement and breakpoints in bilateral trade: an application of the Wald-type test

This paper investigates the impact of the Australia-New Zealand Closer Economic Relations (CER) Trade Agreement on bilateral trade of each member country by using historical time series data before and after the implementation of the CER. We determined the existence of endogenously determined structural breaks over the last 30 years. The Vogelsang (1997) Wald-type testing procedure is then used to test for the existence of a break at an unknown time in the trend function of the dynamic time series. The advantage of this model is that the procedure does not impose any restriction on the nature of the data since it allows for either trending or unit root series, or both, in the model. Using a Wald-type test for detecting breaks in the trend function of a univariate time series, we found that a significant trend break detected in New Zealand in 1988 coincided with the extensive review of the CER in 1988Trend breaks, Wald-type testing, Australia - New Zealand integration

Employment change in mining and manufacturing in Australia, 2010/11 – 2015/16: Dissecting the subnational patterns and concentrations

This paper recognises Krugmans (1991) core-periphery model and analyses the reallocation of employment across the Australian metro and nonmetro regions over the period 2010/11-2015/16. The differences were interpreted using shift-share analysis and industry-specific location quotients, and patterns of change and concentrations for mining and manufacturing are highlighted, given the significance of these industries during this period. The industry-specific location quotients suggest that there was a shift in relative concentrations of mining and manufacturing industries in non-metropolitan regions. The shift-share results are consistent and suggest that regional specialisation and regional competitiveness are characteristic of employment change in metro regions. In nonmetropolitan regions, employment moved in line with the national effect. The causal factors that explain these employment disparities are the subject of ongoing researc

Trade Logistics in Landlocked and Resource Cursed Asian Countries

CHAPTER 1 Introduction: Trade Logistics in Asian Countries That Are Landlocked and Resource Cursed Kankesu Jayanthakumaran 1 INTRODUCTION The purpose of this book is to provide a comprehensive picture of trade facilitation in ..