WAEMU＇s External Trade Efficiency： Measurement and Determinants

This article examines the measurement and determinants of WAEMU＇s （West African Economic and Monetary Union） external trade efficiency. The sample includes eight countries and covers the period from 1990 to 2014. The study＇s estimations are based on data from the database WDI （World Development Indicators） of the World Bank and data from BCEAO with the view to answer to the central question posed. The study is also based on the approach of a gravity equation in panel then a stochastic frontier cost. The results suggest that the score of efficiency of WAEMU＇s external trade is very low on the one hand and the range and importing countries＇ GDP negatively influence this score while GDP of the exporting countries, the common border and common language positively influence the efficiency of external trade of that union. These results show that the different WAEMU＇s countries have an interest in establishing new trade and fiscal policies able to lead them on a long period on the path of self come growth.

The Impact of Syrian Crises on the Jordanian External Trade

Jordan＇s economy is influenced significantly by events taking place in the region, and many successive events in the region occurred during the past two decades, resulted in successive waves of migrations in large numbers to Jordan. The Syrian crisis impact goes beyond the waves of refugees but extended to influence the trade routes to and from Jordan through Syrian route and ports. This research aims to analyze the impact of the Syrian crisis on the Jordanian trade through the use of regression analysis and the use of dummy variable to reflect the Syrian crisis, analyzed the monthly data for the period 2005-2015. In addition, it has used other statistical methods such as records, and has been the Syrian crisis impact analysis on the volume of trade, imports, total export, re-exported, and the national exports. In spite of the lack of trade stop with Syria completely, study showed that there is a significant decline in the trade exchange between Jordan and Syria, but the Syrian crisis may affect the Jordanian imports, the trade volume, trade balance while the study did not show any trace of the Syrian crisis on the national exports. Finally, the study recommends that there are needs for analytical studies and the use of econometric models to demonstrate the impact of the Syrian crisis measures on all sectors and on the sets of Jordanian goods imported and exported.

Balanced Development of Internal and External Trade

The CMC International and Domestic Trade Division under the China National Machinery Import & Export Corporation has, in accordance with the CMC’s strategic goals, worked out the following business guidelines: internal trade is the basis of external trade, and external trade is a supplementary to internal trade; domestic and overseas markets and resources should be used effectively, and internal trade and external trade should be coordinated and handled in a unified way. The Division’s business concept is to conduct trade-dominated business backed by

Reform and opening up in the area of circulation:a retrospect

China＇s reform and opening up in the area of circulation are an important component of the establishment of a socialist mgrket economy system. Prior to reform and opening up, this area had long been characterized by a high level of centralization, closedness and segmentation. The domestic market was isolated from the overseas market and internal trade from foreign trade, and each had its own management system and policy environment. The thirty years of reform and opening up, however, have put a new face on the institutional environment of circulation： an open and modern system of circulation has been basically established, an embryonic WTO-consistent business administration system is taking shape, and the extension Of business and trade service ixidustries has facilitated institutional innovation. The main experience of reform is the following： first, taking opening up as the leading principle and making use of opening up to promote reform; second, following an incremental path of dealing with the easier issues before the harder ones, building up while you tear down, and gradual improvement; and third, breaking through the traditional framework of commodity circulation and establishing new business systems that accommodate more service industries. The economic implication of China＇s reform experience is as follows： an export-oriented strategy must inevitably be chosen as the point of entry for reform; there is an inherent linkage between market structure and human capital in the circulation of goods and services; and expanding the circulation of non-material goods is an important basis for institutional innovation.