The impacts of trade policy uncertainty on trade flow of emerging economies and low-income developing countries
This study is aimed to investigate the effects of the trade policy uncertainty (T.P.U.) on the trade flow of 113 emerging economies and low-income developing countries to 143 destination countries. It further investigates the effects of T.P.U. based on income heterogeneity. Moreover, it considers th...
Gespeichert in:
Veröffentlicht in: | Economic research - Ekonomska istraživanja 2023-03, Vol.36 (1), p.1055-1075 |
---|---|
Hauptverfasser: | , , , |
Format: | Artikel |
Sprache: | eng |
Schlagworte: | |
Online-Zugang: | Volltext |
Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
container_end_page | 1075 |
---|---|
container_issue | 1 |
container_start_page | 1055 |
container_title | Economic research - Ekonomska istraživanja |
container_volume | 36 |
creator | Borojo, Dinkneh Gebre Yushi, Jiang Miao, Miao Liu, Yang |
description | This study is aimed to investigate the effects of the trade policy uncertainty (T.P.U.) on the trade flow of 113 emerging economies and low-income developing countries to 143 destination countries. It further investigates the effects of T.P.U. based on income heterogeneity. Moreover, it considers the effects of T.P.U. on trade flow between developing countries' pair and non-manufacture trade. The two-step Heckman sample selection model is applied to run the structural gravity model of trade using three-year intervals for the period 2004-2019. The analysis is repeated using the Poisson pseudo-maximum likelihood (P.P.M.L.) model for the robustness test. The results imply that the extensive and intensive margin of trade flow of emerging economies and low-income developing countries are adversely affected by the T.P.U. of destination countries. However, the T.P.U. of origin has an adverse effect on the extensive margin of trade. It also negatively affects the trade flow between developing-developing pairs. We also conduct a counterfactual simulation analysis to convert the effect of T.P.U. on trade flow to distance equivalent. To sum up, the findings of this study imply that T.P.U. is a more important barrier to trade for emerging economies and low-income developing countries. Policy implications are forwarded based on the findings. |
doi_str_mv | 10.1080/1331677X.2022.2081235 |
format | Article |
fullrecord | <record><control><sourceid>proquest_hrcak</sourceid><recordid>TN_cdi_proquest_journals_2922707614</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>2922707614</sourcerecordid><originalsourceid>FETCH-LOGICAL-c423t-5d607247f4fe6178c1c357585379a6e88c844335e89b45d3744acad380a42f503</originalsourceid><addsrcrecordid>eNp9kc1qHTEMhYeQQkKaRygYup7E__bdtYS0CQS6SaE743rkxOmMNbHnNty3r4e57bJaSEL6dBCcrvvA6BWjll4zIZg25scVp5y3ZBkX6qQ7Z1bafqe1PG19Y_oVOusua32hLazWTPPzDh-fgaRp9mGpBCNZih-AzDimcCD7HKAsPuXlQDAfd3HEt5WECcpTyk8EAmacElTi80Datk854ARkgN8w4rwyAfd5KY15372LfqxweawX3fcvt483d_3Dt6_3N58f-iC5WHo1aGq4NFFG0MzYwIJQRlklzM5rsDZYKYVQYHc_pRqEkdIHPwhLveRRUXHR9Zvucwn-l5tLmnw5OPTJbZNaArTWCSqMUY3_uPFzwdc91MW94L7k9qLjO84NNZrJRqmNCgVrLRD_CTPqVjvcXzvcaoc72tHuPm13KUcsk3_DMg5u8YcRSyw-h1Sd-L_EHzqVkiU</addsrcrecordid><sourcetype>Open Access Repository</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>2922707614</pqid></control><display><type>article</type><title>The impacts of trade policy uncertainty on trade flow of emerging economies and low-income developing countries</title><source>PAIS Index</source><source>Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals</source><source>Access via Taylor & Francis (Open Access Collection)</source><creator>Borojo, Dinkneh Gebre ; Yushi, Jiang ; Miao, Miao ; Liu, Yang</creator><creatorcontrib>Borojo, Dinkneh Gebre ; Yushi, Jiang ; Miao, Miao ; Liu, Yang</creatorcontrib><description>This study is aimed to investigate the effects of the trade policy uncertainty (T.P.U.) on the trade flow of 113 emerging economies and low-income developing countries to 143 destination countries. It further investigates the effects of T.P.U. based on income heterogeneity. Moreover, it considers the effects of T.P.U. on trade flow between developing countries' pair and non-manufacture trade. The two-step Heckman sample selection model is applied to run the structural gravity model of trade using three-year intervals for the period 2004-2019. The analysis is repeated using the Poisson pseudo-maximum likelihood (P.P.M.L.) model for the robustness test. The results imply that the extensive and intensive margin of trade flow of emerging economies and low-income developing countries are adversely affected by the T.P.U. of destination countries. However, the T.P.U. of origin has an adverse effect on the extensive margin of trade. It also negatively affects the trade flow between developing-developing pairs. We also conduct a counterfactual simulation analysis to convert the effect of T.P.U. on trade flow to distance equivalent. To sum up, the findings of this study imply that T.P.U. is a more important barrier to trade for emerging economies and low-income developing countries. Policy implications are forwarded based on the findings.</description><identifier>ISSN: 1331-677X</identifier><identifier>EISSN: 1848-9664</identifier><identifier>DOI: 10.1080/1331677X.2022.2081235</identifier><language>eng</language><publisher>Pula: Routledge</publisher><subject>Developing countries ; Economic theory ; emerging economies ; Emerging markets ; Gravity ; Heterogeneity ; LDCs ; Low income groups ; low-income developing countries ; lowincome developing countries ; Robustness ; Side effects ; Simulation ; structural gravity model ; Trade ; Trade flows ; Trade policy ; trade policy uncertainty (T.P.U.) ; Uncertainty</subject><ispartof>Economic research - Ekonomska istraživanja, 2023-03, Vol.36 (1), p.1055-1075</ispartof><rights>2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. 2022</rights><rights>2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This work is licensed under the Creative Commons Attribution License http://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.</rights><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c423t-5d607247f4fe6178c1c357585379a6e88c844335e89b45d3744acad380a42f503</citedby><cites>FETCH-LOGICAL-c423t-5d607247f4fe6178c1c357585379a6e88c844335e89b45d3744acad380a42f503</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.tandfonline.com/doi/pdf/10.1080/1331677X.2022.2081235$$EPDF$$P50$$Ginformaworld$$Hfree_for_read</linktopdf><linktohtml>$$Uhttps://www.tandfonline.com/doi/full/10.1080/1331677X.2022.2081235$$EHTML$$P50$$Ginformaworld$$Hfree_for_read</linktohtml><link.rule.ids>230,314,780,784,885,27502,27866,27924,27925,59143,59144</link.rule.ids></links><search><creatorcontrib>Borojo, Dinkneh Gebre</creatorcontrib><creatorcontrib>Yushi, Jiang</creatorcontrib><creatorcontrib>Miao, Miao</creatorcontrib><creatorcontrib>Liu, Yang</creatorcontrib><title>The impacts of trade policy uncertainty on trade flow of emerging economies and low-income developing countries</title><title>Economic research - Ekonomska istraživanja</title><description>This study is aimed to investigate the effects of the trade policy uncertainty (T.P.U.) on the trade flow of 113 emerging economies and low-income developing countries to 143 destination countries. It further investigates the effects of T.P.U. based on income heterogeneity. Moreover, it considers the effects of T.P.U. on trade flow between developing countries' pair and non-manufacture trade. The two-step Heckman sample selection model is applied to run the structural gravity model of trade using three-year intervals for the period 2004-2019. The analysis is repeated using the Poisson pseudo-maximum likelihood (P.P.M.L.) model for the robustness test. The results imply that the extensive and intensive margin of trade flow of emerging economies and low-income developing countries are adversely affected by the T.P.U. of destination countries. However, the T.P.U. of origin has an adverse effect on the extensive margin of trade. It also negatively affects the trade flow between developing-developing pairs. We also conduct a counterfactual simulation analysis to convert the effect of T.P.U. on trade flow to distance equivalent. To sum up, the findings of this study imply that T.P.U. is a more important barrier to trade for emerging economies and low-income developing countries. Policy implications are forwarded based on the findings.</description><subject>Developing countries</subject><subject>Economic theory</subject><subject>emerging economies</subject><subject>Emerging markets</subject><subject>Gravity</subject><subject>Heterogeneity</subject><subject>LDCs</subject><subject>Low income groups</subject><subject>low-income developing countries</subject><subject>lowincome developing countries</subject><subject>Robustness</subject><subject>Side effects</subject><subject>Simulation</subject><subject>structural gravity model</subject><subject>Trade</subject><subject>Trade flows</subject><subject>Trade policy</subject><subject>trade policy uncertainty (T.P.U.)</subject><subject>Uncertainty</subject><issn>1331-677X</issn><issn>1848-9664</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2023</creationdate><recordtype>article</recordtype><sourceid>0YH</sourceid><sourceid>7TQ</sourceid><sourceid>8G5</sourceid><sourceid>ABUWG</sourceid><sourceid>AFKRA</sourceid><sourceid>AZQEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><sourceid>GNUQQ</sourceid><sourceid>GUQSH</sourceid><sourceid>M2O</sourceid><recordid>eNp9kc1qHTEMhYeQQkKaRygYup7E__bdtYS0CQS6SaE743rkxOmMNbHnNty3r4e57bJaSEL6dBCcrvvA6BWjll4zIZg25scVp5y3ZBkX6qQ7Z1bafqe1PG19Y_oVOusua32hLazWTPPzDh-fgaRp9mGpBCNZih-AzDimcCD7HKAsPuXlQDAfd3HEt5WECcpTyk8EAmacElTi80Datk854ARkgN8w4rwyAfd5KY15372LfqxweawX3fcvt483d_3Dt6_3N58f-iC5WHo1aGq4NFFG0MzYwIJQRlklzM5rsDZYKYVQYHc_pRqEkdIHPwhLveRRUXHR9Zvucwn-l5tLmnw5OPTJbZNaArTWCSqMUY3_uPFzwdc91MW94L7k9qLjO84NNZrJRqmNCgVrLRD_CTPqVjvcXzvcaoc72tHuPm13KUcsk3_DMg5u8YcRSyw-h1Sd-L_EHzqVkiU</recordid><startdate>20230331</startdate><enddate>20230331</enddate><creator>Borojo, Dinkneh Gebre</creator><creator>Yushi, Jiang</creator><creator>Miao, Miao</creator><creator>Liu, Yang</creator><general>Routledge</general><general>Taylor & Francis Ltd</general><general>Taylor and Francis Group i Sveučilište Jurja Dobrile u Puli, Fakultet ekonomije i turizma Dr. Mijo Mirković</general><scope>0YH</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>3V.</scope><scope>7TQ</scope><scope>7WY</scope><scope>7WZ</scope><scope>7XB</scope><scope>87Z</scope><scope>8BJ</scope><scope>8FK</scope><scope>8FL</scope><scope>8G5</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>BYOGL</scope><scope>CCPQU</scope><scope>COVID</scope><scope>DHY</scope><scope>DON</scope><scope>DWQXO</scope><scope>FQK</scope><scope>FRNLG</scope><scope>F~G</scope><scope>GNUQQ</scope><scope>GUQSH</scope><scope>JBE</scope><scope>K60</scope><scope>K6~</scope><scope>L.-</scope><scope>M0C</scope><scope>M2O</scope><scope>MBDVC</scope><scope>PIMPY</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>Q9U</scope><scope>VP8</scope></search><sort><creationdate>20230331</creationdate><title>The impacts of trade policy uncertainty on trade flow of emerging economies and low-income developing countries</title><author>Borojo, Dinkneh Gebre ; Yushi, Jiang ; Miao, Miao ; Liu, Yang</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c423t-5d607247f4fe6178c1c357585379a6e88c844335e89b45d3744acad380a42f503</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2023</creationdate><topic>Developing countries</topic><topic>Economic theory</topic><topic>emerging economies</topic><topic>Emerging markets</topic><topic>Gravity</topic><topic>Heterogeneity</topic><topic>LDCs</topic><topic>Low income groups</topic><topic>low-income developing countries</topic><topic>lowincome developing countries</topic><topic>Robustness</topic><topic>Side effects</topic><topic>Simulation</topic><topic>structural gravity model</topic><topic>Trade</topic><topic>Trade flows</topic><topic>Trade policy</topic><topic>trade policy uncertainty (T.P.U.)</topic><topic>Uncertainty</topic><toplevel>online_resources</toplevel><creatorcontrib>Borojo, Dinkneh Gebre</creatorcontrib><creatorcontrib>Yushi, Jiang</creatorcontrib><creatorcontrib>Miao, Miao</creatorcontrib><creatorcontrib>Liu, Yang</creatorcontrib><collection>Access via Taylor & Francis (Open Access Collection)</collection><collection>CrossRef</collection><collection>ProQuest Central (Corporate)</collection><collection>PAIS Index</collection><collection>Access via ABI/INFORM (ProQuest)</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ABI/INFORM Global (Alumni Edition)</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection (Alumni Edition)</collection><collection>Research Library (Alumni Edition)</collection><collection>ProQuest Central (Alumni Edition)</collection><collection>ProQuest Central UK/Ireland</collection><collection>ProQuest Central Essentials</collection><collection>ProQuest Central</collection><collection>Business Premium Collection</collection><collection>East Europe, Central Europe Database</collection><collection>ProQuest One Community College</collection><collection>Coronavirus Research Database</collection><collection>PAIS International</collection><collection>PAIS International (Ovid)</collection><collection>ProQuest Central Korea</collection><collection>International Bibliography of the Social Sciences</collection><collection>Business Premium Collection (Alumni)</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>ProQuest Central Student</collection><collection>Research Library Prep</collection><collection>International Bibliography of the Social Sciences</collection><collection>ProQuest Business Collection (Alumni Edition)</collection><collection>ProQuest Business Collection</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Global</collection><collection>Research Library</collection><collection>Research Library (Corporate)</collection><collection>Publicly Available Content Database</collection><collection>ProQuest One Business</collection><collection>ProQuest One Business (Alumni)</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central Basic</collection><collection>Hrcak: Portal of scientific journals of Croatia</collection><jtitle>Economic research - Ekonomska istraživanja</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Borojo, Dinkneh Gebre</au><au>Yushi, Jiang</au><au>Miao, Miao</au><au>Liu, Yang</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>The impacts of trade policy uncertainty on trade flow of emerging economies and low-income developing countries</atitle><jtitle>Economic research - Ekonomska istraživanja</jtitle><date>2023-03-31</date><risdate>2023</risdate><volume>36</volume><issue>1</issue><spage>1055</spage><epage>1075</epage><pages>1055-1075</pages><issn>1331-677X</issn><eissn>1848-9664</eissn><abstract>This study is aimed to investigate the effects of the trade policy uncertainty (T.P.U.) on the trade flow of 113 emerging economies and low-income developing countries to 143 destination countries. It further investigates the effects of T.P.U. based on income heterogeneity. Moreover, it considers the effects of T.P.U. on trade flow between developing countries' pair and non-manufacture trade. The two-step Heckman sample selection model is applied to run the structural gravity model of trade using three-year intervals for the period 2004-2019. The analysis is repeated using the Poisson pseudo-maximum likelihood (P.P.M.L.) model for the robustness test. The results imply that the extensive and intensive margin of trade flow of emerging economies and low-income developing countries are adversely affected by the T.P.U. of destination countries. However, the T.P.U. of origin has an adverse effect on the extensive margin of trade. It also negatively affects the trade flow between developing-developing pairs. We also conduct a counterfactual simulation analysis to convert the effect of T.P.U. on trade flow to distance equivalent. To sum up, the findings of this study imply that T.P.U. is a more important barrier to trade for emerging economies and low-income developing countries. Policy implications are forwarded based on the findings.</abstract><cop>Pula</cop><pub>Routledge</pub><doi>10.1080/1331677X.2022.2081235</doi><tpages>21</tpages><oa>free_for_read</oa></addata></record> |
fulltext | fulltext |
identifier | ISSN: 1331-677X |
ispartof | Economic research - Ekonomska istraživanja, 2023-03, Vol.36 (1), p.1055-1075 |
issn | 1331-677X 1848-9664 |
language | eng |
recordid | cdi_proquest_journals_2922707614 |
source | PAIS Index; Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals; Access via Taylor & Francis (Open Access Collection) |
subjects | Developing countries Economic theory emerging economies Emerging markets Gravity Heterogeneity LDCs Low income groups low-income developing countries lowincome developing countries Robustness Side effects Simulation structural gravity model Trade Trade flows Trade policy trade policy uncertainty (T.P.U.) Uncertainty |
title | The impacts of trade policy uncertainty on trade flow of emerging economies and low-income developing countries |
url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2024-12-19T08%3A41%3A37IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_hrcak&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=The%20impacts%20of%20trade%20policy%20uncertainty%20on%20trade%20flow%20of%20emerging%20economies%20and%20low-income%20developing%20countries&rft.jtitle=Economic%20research%20-%20Ekonomska%20istra%C5%BEivanja&rft.au=Borojo,%20Dinkneh%20Gebre&rft.date=2023-03-31&rft.volume=36&rft.issue=1&rft.spage=1055&rft.epage=1075&rft.pages=1055-1075&rft.issn=1331-677X&rft.eissn=1848-9664&rft_id=info:doi/10.1080/1331677X.2022.2081235&rft_dat=%3Cproquest_hrcak%3E2922707614%3C/proquest_hrcak%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=2922707614&rft_id=info:pmid/&rfr_iscdi=true |