Determinants of U.S. Textile and Apparel Trade

A gravity model using panel data is applied to determine factors affecting textiles and apparel trade flows into the United States. The study confirms that a nation's aggregate output and per unit productivity serve as important determinants of textiles and apparel trade into the U.S., and the exporting country's depreciating exchange rate as well as its lower prices relative to U.S. prices for textiles and apparel play an important role in determining textiles and apparel trade flows to the U.S. market. Since the WTO's multilateral trade restraining policies of the multi-fibre arrangement (MFA) is found to have slowed down imports, its abrogation in 2005 should lead to greater textiles and apparel imports to the U.S.brand equity, brand valuation, real options, food firms, growth option value, Agribusiness, International Relations/Trade,

Panel Data Analysis of Trade Policy Effects on U.S. Textile Industries

By applying a gravity model, the study confirms that devalued currencies of Asian exporters of textile products and liberalization of trade policies have significantly contributed to the increased imports of textile products to the U.S. Implications are derived from the abrogation of the WTO's Agreement on Textiles and Clothing (ATC).International Relations/Trade,

Determinants of U.S. Textile and Apparel Import Trade

By applying a gravity model, the study confirms that devalued currencies of Asian exporters of textile products and liberalization of trade policies have significantly contributed to the increased imports of textile products to the U.S. Implications are derived from the abroagation of the WTO Agreement on Textiles and Clothing (ATC).International Relations/Trade,

China-U.S. Potential Non-food Ethanol Exportation

To reduce national oil dependency, ethanol has been given a center stage of U.S. energy sources. The Renewable Fuel Standard (RFS) program was launched to increase the volume of renewable gasoline from 9 billion gallons in 2008 to 36 billion gallons by 2012, among which 15 billion are corn-based ethanol, while U.S. corn-based ethanol can hardly achieve this level. There is a trend that indicates U.S. importing ethanol from other countries, so a bilateral trade system has been established between U.S. and Brazil since 2003. The annual import is 211 million gallons in 2008 (USDC, 2009). Nevertheless, this amount is far away from the target, and the worldwide food shortage called us to divert our attention from fuel to food. China, as the third largest ethanol producer, has extreme ethanol growth potential with low production costs and large sources of cassava, which is a non-food feedstock for ethanol. This paper uses Data Envelopment Analysis (DEA) to measure and compare the efficiency of ethanol production in China and Brazil. To estimate the extent output can be proportionally expanded without altering the input quantities employed in each country. The output orientated method has been developed with annual ethanol production from the inputs-- land for ethanol crops, agricultural labor force and capacity of ethanol production. The DEA results show that China has been more efficient in ethanol production than Brazil since the year 2007. This means China has comparative advantage over Brazil in producing ethanol, hence U.S. can import from China instead of Brazil in the future.Ethanol, Efficiency, Non-food, Productivity, Feedstocks, Agricultural and Food Policy, International Relations/Trade, Productivity Analysis, Resource /Energy Economics and Policy,

A Foot and Mouth Disease Induced Model of US Excess Supply of Beef

Agriculture is a vulnerable sector of the U.S economy, accounting for 13% of Gross Domestic Product and 15% of employment. It produces quality cheap food for domestic consumption and accounts for more than $65 billion in export revenues. Contagious animal diseases like Foot and Mouth Disease (FMD) are often referred to as economic diseases because of the magnitude of harm they cause producers, local communities and the consequences in international trade. Losses from the 2001 FMD outbreak in the United Kingdom are estimated at$10.7 to $11.7 billion. The total cost of an FMD outbreak is the sum of eradication cost, production losses, and the loss of exports. This paper examines the export effects of a bioterrorist attack such as the introduction of FMD on the US beef industry. The context is to model the US beef market as a price taker on the international beef market, the simplifying “small open economy” assumption of international economics. Although, the beef market is linked to beef prices around the world, we tend to conceive of the US beef market in terms of domestic supply and demand and the resulting domestic equilibrium price. The excess supply of beef is the difference between quantities supplied and demanded that increases with price and responds to other influences on domestic supply and demand. We assumed that U.S consumers will exercise more caution when purchasing beef at grocery store as a result of the outbreak of FMD. As U.S consumers alter their diet, poultry and pork will become good substitutes with poultry having a higher demand than pork. The economic impact of FMD is simulated based on expected changes in price of beef and its substitutes based on three different scenarios of the levels of FMD occurrences.Excess supply, FMD, beef prices, bioterrorism, Agricultural and Food Policy, Environmental Economics and Policy, International Relations/Trade, Q17,

BSE and the US Economy: Input-Output Model Perspective

The potential impact of a BSE outbreak on the US economy is modeled in input-output setting using 2002 US IMPLAN data. An outbreak of BSE would hurt the US beef industry, other agriculturally-related industry, and the rest of the economy as a whole. The worse effects occur in the beef cattle and farming industries. Generally, the economy of every county would be hurt given the fact that cattle are produced in all the 50 states. But it is apparent that the damage would be substantial in those regions and households which already suffer the severest economic damage.Livestock Production/Industries,

The Emergent Vinifera Wine Industry in North Carolina: A Descriptive Overview

The North Carolina (NC) wine industry has grown rapidly over the past decade and is expected to grow even more as the worldwide wine consumption and export of wines rises. In the United States, the wine market has grown by 13.7 percent since 2002 in volume and by more than 15 percent in dollars as wine has progressed from being a beverage of an elite segment of the market to becoming a mainline beverage, taking its place alongside beer and liquor (MKF Research LLC, 2007; Oches, 2009). The Piedmont Triad Region is uniquely positioned to increase its presence in this industry. Of the 80 wineries in NC that are currently open to the public, nearly half are located in the Piedmont Triad Region. However, growing grapes and making wine is a long term commitment to a community, both financially and physically. The MKF Research report states that the capital-intensive nature of the winery and vineyard sectors is often underestimated, with new entrants to the industry at times unprepared for the extended cash requirements. In addition, only a few local institutions are familiar with the unique needs of the winemaking business. In order to address factors that will impede growth in this nascent industry, it is important to identify the state of the industry and obtain management perspectives on the needs and challenges facing their operations. This study provides information that would help gain a better understanding of the business issues and needs related to the wine and grape industry in North Carolina. Data for this study was drawn from a census of 34 wine producers located in the Yadkin, Swan Creek, and the Haw River valley regions of North Carolina. Descriptive statistics using frequencies and means is used to provide a demographic overview of the industry and to identify the factors that wine producers perceive to be important in affecting their profitability. Results from the study shows that most of the wineries share some common traits: they are small, relatively new to the wine and grape industry and grow grapes other than the traditional native Muscadine grape. Primarily, a majority of the wineries are family-based entrepreneurial businesses that have to behave like mini-conglomerates. These findings are consistent with a study conducted by Taplin and Breckenridge (2008).Profitability Constraints, Financial Management, Marketing, Distribution, Agribusiness, Community/Rural/Urban Development, Farm Management,

The evolving SARS-CoV-2 epidemic in Africa: Insights from rapidly expanding genomic surveillance

INTRODUCTION Investment in Africa over the past year with regard to severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) sequencing has led to a massive increase in the number of sequences, which, to date, exceeds 100,000 sequences generated to track the pandemic on the continent. These sequences have profoundly affected how public health officials in Africa have navigated the COVID-19 pandemic. RATIONALE We demonstrate how the first 100,000 SARS-CoV-2 sequences from Africa have helped monitor the epidemic on the continent, how genomic surveillance expanded over the course of the pandemic, and how we adapted our sequencing methods to deal with an evolving virus. Finally, we also examine how viral lineages have spread across the continent in a phylogeographic framework to gain insights into the underlying temporal and spatial transmission dynamics for several variants of concern (VOCs). RESULTS Our results indicate that the number of countries in Africa that can sequence the virus within their own borders is growing and that this is coupled with a shorter turnaround time from the time of sampling to sequence submission. Ongoing evolution necessitated the continual updating of primer sets, and, as a result, eight primer sets were designed in tandem with viral evolution and used to ensure effective sequencing of the virus. The pandemic unfolded through multiple waves of infection that were each driven by distinct genetic lineages, with B.1-like ancestral strains associated with the first pandemic wave of infections in 2020. Successive waves on the continent were fueled by different VOCs, with Alpha and Beta cocirculating in distinct spatial patterns during the second wave and Delta and Omicron affecting the whole continent during the third and fourth waves, respectively. Phylogeographic reconstruction points toward distinct differences in viral importation and exportation patterns associated with the Alpha, Beta, Delta, and Omicron variants and subvariants, when considering both Africa versus the rest of the world and viral dissemination within the continent. Our epidemiological and phylogenetic inferences therefore underscore the heterogeneous nature of the pandemic on the continent and highlight key insights and challenges, for instance, recognizing the limitations of low testing proportions. We also highlight the early warning capacity that genomic surveillance in Africa has had for the rest of the world with the detection of new lineages and variants, the most recent being the characterization of various Omicron subvariants. CONCLUSION Sustained investment for diagnostics and genomic surveillance in Africa is needed as the virus continues to evolve. This is important not only to help combat SARS-CoV-2 on the continent but also because it can be used as a platform to help address the many emerging and reemerging infectious disease threats in Africa. In particular, capacity building for local sequencing within countries or within the continent should be prioritized because this is generally associated with shorter turnaround times, providing the most benefit to local public health authorities tasked with pandemic response and mitigation and allowing for the fastest reaction to localized outbreaks. These investments are crucial for pandemic preparedness and response and will serve the health of the continent well into the 21st century

Determinants of U.S. Textile and Apparel Trade

A gravity model using panel data is applied to determine factors affecting textiles and apparel trade flows into the United States. The study confirms that a nation's aggregate output and per unit productivity serve as important determinants of textiles and apparel trade into the U.S., and the exporting country's depreciating exchange rate as well as its lower prices relative to U.S. prices for textiles and apparel play an important role in determining textiles and apparel trade flows to the U.S. market. Since the WTO's multilateral trade restraining policies of the multi-fibre arrangement (MFA) is found to have slowed down imports, its abrogation in 2005 should lead to greater textiles and apparel imports to the U.S

Reforming Agricultural Trade under Commodity Price Volatility: Can Poor African Countries Achieve Food Security and Economic Development?

A contributed paper presented at the Third African Economic Conference on Globalization, Institutions and Economic Development of Africa, organized by the African Development Bank and United Nations Economic Commission for Africa