Cross border traders make a major contribution to the growth of economies in Southern Africa. Cross border trade is a source of livelihood for many poor people, especially women. However, few studies examined challeng...Cross border traders make a major contribution to the growth of economies in Southern Africa. Cross border trade is a source of livelihood for many poor people, especially women. However, few studies examined challenges facing cross border traders and future business prospects.The aim of this paper is to examine the challenges that face Zimbabwean cross border traders in South Africa. The paper goes further to review existing literature as well as empirical studies in order to identify the major challenges that face Zimbabwean cross border traders. Among the challenges noted are crime, harassment due to xenophobia, traders are often stigmatized as ＂prostitutes＂ or ＂smugglers＂, accommodation problems, extortion and bribery by the South African Police and municipal police officials, delays at the border post during peak periods and banks that close early and also do not operate on Sundays. The Zimbabwean Cross Border Traders Association should build office in Musina and Johannesburg so that members can easily consult with the association in times of problems and also help with marketing information like distribution of brochures showcasing Zimbabwean products sold by cross border traders and also organize fairs where Zimbabwean traders can display their products. Furthermore cases of harassment by police officials should be investigated and dealt with. Banks that do have branches at the border posts are also urged to provide 24 hour service to cross border traders.展开更多
The article presents the situation in foreign trade among Slovakia and the country V4 （Czech Republic, Hungary, Poland, and Slovak Republic） after the changeover in 2009. At a time of economic crisis, Slovakia acced...The article presents the situation in foreign trade among Slovakia and the country V4 （Czech Republic, Hungary, Poland, and Slovak Republic） after the changeover in 2009. At a time of economic crisis, Slovakia acceded to the adoption of a common currency--the euro. Prior to the adoption of the euro, apprehensions were raised due to currency decreased export from Slovakia to countries V4. In this article, author analyses the mutual foreign trade of Slovakia with countries of V4 for all commodities in standard international trade classification （SITC） codes. The analysis covers the time before the adoption of the euro from 2004 to 2008 and after the adoption of the euro in the years from 2009 to 2013. It compares the percentage change over the previous year, the balance of foreign trade, and foreign trade turnover. The same analysis is also done for the period prior to the adoption of the euro as a whole and after the adoption of the euro. In the calculations, data from UN Comtrade Database were used, which are indicated in USD. The results indicate that in the transition to the common currency, the euro did not mean for Slovakia worsening trade with V4 countries. Economies of these countries have long been linked and even the possibility of its own monetary policy does not endanger Slovakia＇s export to these countries.展开更多
＂Decoupling＂ refers to the divergence of business cycles among different countries, while ＂re-coupling＂ corresponds to the convergence or the synchronization of business cycles among different countries. The decou...＂Decoupling＂ refers to the divergence of business cycles among different countries, while ＂re-coupling＂ corresponds to the convergence or the synchronization of business cycles among different countries. The decoupling debate is popular in the field of economics, especially after global financial crisis. As trade integration increased among Asian countries, business cycle synchronization among these countries was expected to increase through trade transmission. The aim of this study is to discover whether there has been decoupling or convergence of business cycles through various trade channels. However, theoretically, increased trade can lead to business cycle synchronization either rising or falling. Inter-industry trade resulting in higher specification will induce less synchronized business cycles, while intra-industry trade could lead to increased business cycle synchronization. Thus, it is important to distinguish between intra- and inter-industry trade flows. Both correlation and dynamic factor models are utilized to study the evolution of global business cycle linkages. Results indicate that the world factor has become less important in explaining macroeconomic fluctuations from sub-period 1961-1984 to sub-period 1985-2007, while regional factors do not play an important role in explaining aggregate volatility, with the expectation of consumption. Overall, the explanatory power of country factors increases. Domestic consumption and domestic investment variances are more driven by country and idiosyncratic factors than by the world factor, contrary to the output growth fluctuations. Regional factors and country factors also play a more prominent role in explaining gross import fluctuations than in explaining gross exports. Results cast doubt on the strong forms of both the decoupling and the re-coupling hypothesis.展开更多
Different positions of the member states of the World Trade Organization （WTO）, especially the developed and developing countries and also the United States of America （USA）, the European Union （EU）, and Japan r...Different positions of the member states of the World Trade Organization （WTO）, especially the developed and developing countries and also the United States of America （USA）, the European Union （EU）, and Japan representatives, were observed during the Doha Round of trade negotiations under the WTO. The problems of agriculture protection in the developed countries, for example in the EU and USA and also in the developing countries, were becoming serious obstacles during the negotiations. Despite the undeniable benefits of the multilateral WTO forum for trade liberalization, the rapid increase of North-South bilateral and multilateral free trade areas （FTAs） begs a systematic explanation for why some forums are prioritized relative to others. The main aim of the article is the presentation of some new aspects of the international business theory in the context of international economy. The article presents the mercantilist tendencies in the international trade policy, the theory of public choice in the foreign trade policy, protectionist pressures in different political systems, the level of protectionist pressures, food producers＇ pressure, and conflicts between the tendencies to sustainable international trade liberalization and environmental protection.展开更多
Just as in the eighteenth century cotton trade pulled Palestine＇s economy into the orbit of the world economy, so it also enabled Palestine, through its ruler shaykh Zahir al-＇Umar, to instigate a process of urbaniz...Just as in the eighteenth century cotton trade pulled Palestine＇s economy into the orbit of the world economy, so it also enabled Palestine, through its ruler shaykh Zahir al-＇Umar, to instigate a process of urbanization, However, the Ottoman households that governed Galilee and Palestine＇s coastal areas did not help local merchants （tujjar） to develop inter-regional or intra-regional trade networks, as was the case in central Palestine. The disappearance of the main two obstacles to these networks--the dominant local leaders and the monopoly system--ushered in a new era in Palestine＇s trading and commercial history. Jaffa became Palestine＇s main transit port and gradually attracted wealthy merchants from far and wide. Besides their importing and exporting activities, these merchants invested heavily in citrus plantations, transforming the citrus fruit trade into Palestine＇s largest economic sector. Palestine＇s most powerful merchants played an important role as ＂the modern agents of change＂, as they did elsewhere in the Middle East. This development found expression in many aspects of their lifestyle： in the ornate architecture of their houses, in their patterns of consumption, and in their elevated living standards. These powerful merchants were also the first actors to import new technologies to Palestine, in order to develop their businesses. In short, this paper argued that the Palestinian entrepreneurial and mercantile classes, but not members of the old elite and the traditional leadership, emerged as models for imitation by society at large. In many respects, this shift in influence constituted a revolutionary change.展开更多
This paper studies the connection between the irrational behavior of traders and the herding equilibrium of informed traders in security market. At first, we set up the trading system on the condition of market maker,...This paper studies the connection between the irrational behavior of traders and the herding equilibrium of informed traders in security market. At first, we set up the trading system on the condition of market maker, establish a trading model of perfectly rational traders, and then define herding equilibrium. Second, we extend the model using two parameters, and find the critical points of irrational traders when they reach the herding equilibrium. The result indicates that herding never occurs in market if all the traders are perfectly rational. If consider their irrational factor, it maybe arouse herding. Besides, along with the number of traders who make the same trading strategies increasing, the two critical points show some rules.展开更多
文摘Cross border traders make a major contribution to the growth of economies in Southern Africa. Cross border trade is a source of livelihood for many poor people, especially women. However, few studies examined challenges facing cross border traders and future business prospects.The aim of this paper is to examine the challenges that face Zimbabwean cross border traders in South Africa. The paper goes further to review existing literature as well as empirical studies in order to identify the major challenges that face Zimbabwean cross border traders. Among the challenges noted are crime, harassment due to xenophobia, traders are often stigmatized as ＂prostitutes＂ or ＂smugglers＂, accommodation problems, extortion and bribery by the South African Police and municipal police officials, delays at the border post during peak periods and banks that close early and also do not operate on Sundays. The Zimbabwean Cross Border Traders Association should build office in Musina and Johannesburg so that members can easily consult with the association in times of problems and also help with marketing information like distribution of brochures showcasing Zimbabwean products sold by cross border traders and also organize fairs where Zimbabwean traders can display their products. Furthermore cases of harassment by police officials should be investigated and dealt with. Banks that do have branches at the border posts are also urged to provide 24 hour service to cross border traders.
文摘The article presents the situation in foreign trade among Slovakia and the country V4 （Czech Republic, Hungary, Poland, and Slovak Republic） after the changeover in 2009. At a time of economic crisis, Slovakia acceded to the adoption of a common currency--the euro. Prior to the adoption of the euro, apprehensions were raised due to currency decreased export from Slovakia to countries V4. In this article, author analyses the mutual foreign trade of Slovakia with countries of V4 for all commodities in standard international trade classification （SITC） codes. The analysis covers the time before the adoption of the euro from 2004 to 2008 and after the adoption of the euro in the years from 2009 to 2013. It compares the percentage change over the previous year, the balance of foreign trade, and foreign trade turnover. The same analysis is also done for the period prior to the adoption of the euro as a whole and after the adoption of the euro. In the calculations, data from UN Comtrade Database were used, which are indicated in USD. The results indicate that in the transition to the common currency, the euro did not mean for Slovakia worsening trade with V4 countries. Economies of these countries have long been linked and even the possibility of its own monetary policy does not endanger Slovakia＇s export to these countries.
文摘＂Decoupling＂ refers to the divergence of business cycles among different countries, while ＂re-coupling＂ corresponds to the convergence or the synchronization of business cycles among different countries. The decoupling debate is popular in the field of economics, especially after global financial crisis. As trade integration increased among Asian countries, business cycle synchronization among these countries was expected to increase through trade transmission. The aim of this study is to discover whether there has been decoupling or convergence of business cycles through various trade channels. However, theoretically, increased trade can lead to business cycle synchronization either rising or falling. Inter-industry trade resulting in higher specification will induce less synchronized business cycles, while intra-industry trade could lead to increased business cycle synchronization. Thus, it is important to distinguish between intra- and inter-industry trade flows. Both correlation and dynamic factor models are utilized to study the evolution of global business cycle linkages. Results indicate that the world factor has become less important in explaining macroeconomic fluctuations from sub-period 1961-1984 to sub-period 1985-2007, while regional factors do not play an important role in explaining aggregate volatility, with the expectation of consumption. Overall, the explanatory power of country factors increases. Domestic consumption and domestic investment variances are more driven by country and idiosyncratic factors than by the world factor, contrary to the output growth fluctuations. Regional factors and country factors also play a more prominent role in explaining gross import fluctuations than in explaining gross exports. Results cast doubt on the strong forms of both the decoupling and the re-coupling hypothesis.
文摘Different positions of the member states of the World Trade Organization （WTO）, especially the developed and developing countries and also the United States of America （USA）, the European Union （EU）, and Japan representatives, were observed during the Doha Round of trade negotiations under the WTO. The problems of agriculture protection in the developed countries, for example in the EU and USA and also in the developing countries, were becoming serious obstacles during the negotiations. Despite the undeniable benefits of the multilateral WTO forum for trade liberalization, the rapid increase of North-South bilateral and multilateral free trade areas （FTAs） begs a systematic explanation for why some forums are prioritized relative to others. The main aim of the article is the presentation of some new aspects of the international business theory in the context of international economy. The article presents the mercantilist tendencies in the international trade policy, the theory of public choice in the foreign trade policy, protectionist pressures in different political systems, the level of protectionist pressures, food producers＇ pressure, and conflicts between the tendencies to sustainable international trade liberalization and environmental protection.
文摘Just as in the eighteenth century cotton trade pulled Palestine＇s economy into the orbit of the world economy, so it also enabled Palestine, through its ruler shaykh Zahir al-＇Umar, to instigate a process of urbanization, However, the Ottoman households that governed Galilee and Palestine＇s coastal areas did not help local merchants （tujjar） to develop inter-regional or intra-regional trade networks, as was the case in central Palestine. The disappearance of the main two obstacles to these networks--the dominant local leaders and the monopoly system--ushered in a new era in Palestine＇s trading and commercial history. Jaffa became Palestine＇s main transit port and gradually attracted wealthy merchants from far and wide. Besides their importing and exporting activities, these merchants invested heavily in citrus plantations, transforming the citrus fruit trade into Palestine＇s largest economic sector. Palestine＇s most powerful merchants played an important role as ＂the modern agents of change＂, as they did elsewhere in the Middle East. This development found expression in many aspects of their lifestyle： in the ornate architecture of their houses, in their patterns of consumption, and in their elevated living standards. These powerful merchants were also the first actors to import new technologies to Palestine, in order to develop their businesses. In short, this paper argued that the Palestinian entrepreneurial and mercantile classes, but not members of the old elite and the traditional leadership, emerged as models for imitation by society at large. In many respects, this shift in influence constituted a revolutionary change.
基金This project is supported by National Natural Science Foundation of China（70371063）
文摘This paper studies the connection between the irrational behavior of traders and the herding equilibrium of informed traders in security market. At first, we set up the trading system on the condition of market maker, establish a trading model of perfectly rational traders, and then define herding equilibrium. Second, we extend the model using two parameters, and find the critical points of irrational traders when they reach the herding equilibrium. The result indicates that herding never occurs in market if all the traders are perfectly rational. If consider their irrational factor, it maybe arouse herding. Besides, along with the number of traders who make the same trading strategies increasing, the two critical points show some rules.
