A Comparative Study on the Export Determinants of Kenya and Korea: A Gravity Approach

PurposeThe purpose of this paper is to analyse the role of the enlargement process of the European Union as a factor fostering international competitiveness of EU Member States. The paper argues that the economic integration process has reduced the technological gap between old and new EU Member States, and this pattern of technological innovation can partially explain the strong impulse on the export dynamics of European countries.Design/methodology/approachThe paper builds an augmented gravity model by including the role of technological innovation, proxied by the stock of knowledge at the sector level. The authors gather together information on patents applied to international offices and bilateral export flows available from COMTRADE dataset.FindingsBy using a dynamic panel data estimator the authors find three main empirical evidences. First, the enlargement process has produced an overall larger positive impact on export flows for new Members than for old ones, and more importantly that sectors with the higher technological content have received the strongest impulse. Second, the augmented gravity model allows shaping the crucial role of technological innovation in fostering export competitiveness. Third, this impact seems to be stronger for old EU Member States than for new ones.Research limitations/implicationsThe major limitation concerns time span adopted in this work. By expanding the dataset to further years it could be possible to better disentangle the effects also related to the new wave of the EU enlargement.Social implicationsThe policy implication derived is that the more the new EU Members catch up technologically as a result of the integration process, the more they will benefit in terms of economic development.Originality/valueThe major originality of this paper is the construction of an augmented gravity model by including the role of technological innovation, applied to distinguished manufacturing sectors in a dynamic panel setting.

Much has been made of a prospective Trans-Pacific Partnership (TPP) Free Trade Agreement between the Western Hemisphere nations of North and South America and the nations of the Western Pacific rim, thus far largely excluding China. Fewer details are known of a prospective Transatlantic Trade and Investment Partnership (TTIP) between Europe and the Western Hemisphere, particularly between the European Union and the USA. Much less is made of a counterpart EurAsian Partnership (EAP) Free Trade Agreement, although in some respects this is equally as important as either the Trans-Atlantic or Trans-Pacific Agreements, or even more so. One indicator of intercontinental trade compatibility is the criteria on which chief executive officers (CEOs) are evaluated, and each CEO’s graded performance against such criteria. The research carried out by Insead faculty and published in the Harvard Business Review in 2010 and 2013 clearly rejects a hypothesis that an MBA degree predicts top-performing CEOs, but worldwide ‘insider’ CEOs seem to substantially outnumber ‘outsider’ CEOs on that list that takes into account the ‘bottom line’: long-term financial performance across a CEO’s tenure in office. This paper attempts to analyse top-ranking CEOs across the world to determine what characteristics such CEOs have in common, and how such similarities will optimise trade partnerships.

This study examined capital structure, liquidity and financial performance of listed deposit money banks in Nigeria. The study specifically investigated the relationship between debt-to-equity ratio and financial performance of listed deposit money banks in Nigeria, the effect of total debt ratio on the financial performance of listed deposit money banks in Nigeria and how asset liquidity influences financial performance of listed deposit money banks in Nigeria. The study adopted the ex-post facto research design. The data for this study were obtained from secondary source that was derived from financial statements of selected deposit money banks listed on the Nigerian Exchange. The data covered the period 2011–2020. Descriptive and inferential statistical methods were employed in analyzing the data gathered. The findings of the OLS regression analysis revealed that debt equity ratio (DER) has significant negative impact on financial performance. However, findings revealed that total debt to total asset ratio (TTR) has a significant and positive impact on the financial performance, while asset liquidity (ASL) has a negative and significant impact on financial performance of the sampled banks in Nigeria. It is concluded that the variables of capital structure as used in the study, such as debt to equity ratio, total debt to total asset ratio, and asset liquidity, have mixed results of positive and negative effects on financial performance of deposit money banks in Nigeria.

The purpose of this study is to examine the nexus between export incentive and Ethiopian export performance from the year 1983 to 2017. The study is conducted by quantitative research method by using time series econometrics analysis. The study employs an Autoregressive Distributed Lag (ARDL) bound test model to co-integration in order to investigate the long run relationship and Error Correction Model (ECM) for the short-run relationship between export and export incentive, real GDP, real exchange rate, gross capital formation, external debt stock and inflation rate. The long-run empirical result using the bound test reveals that there is a stable long-run relationship between real export and explanatory variables. The study finds out that during study period the Ethiopian export composition mainly focused on primary product and Europe was main export destination. In the econometric analysis, the study finds that export incentive has the significant positive impact on export performance both in short run and long run. Similarly, real GDP and inflation have the significant impact on export performance whereas gross capital formation, real exchange rate and external debt have the insignificant impact in short run and long run during the study period. Further, in short run one year lagged values of export and external debt have positive impact on export performance. The coefficient of equilibrating error term suggests that the speed of adjustment (feedback effects towards the long run equilibrium) takes few years for full adjustment when there is a shock in the system. Therefore, export incentive and export performance in Ethiopia have direct relationship both in the short run and in long run. Key w ords: ARDL, Ethiopia, export incentive, export performance DOI: 10.7176/JESD/12-5-02 Publication date: March 31 st 2021

The purpose of the reseach was to determine the effect of public satisfaction on public services at PT.Jasa Raharja as the represent of Surabaya which was mediated by the perception of the insurance constitution (UU no 33 and 34 of 1964). This is a type of comparative causal research using a quantitative approach, using primary data supported by a questionnaire tool with public respondents in the management of insurance services, in this case the heirs/families of accident victims in making claims for compensation to PT Jasa Raharja as the represent of Surabaya.The population in this reseach cannot be determined (Infinite Population). so that way the sampling method used Nonprobability Sampling which is a sampling technique by not providing the same opportunity for each element or member of the population to be selected as a sample, with a set sample of 52 respondents who during data collection they carried out the management of compensation at least 2 times. the questionnaire as an instrument was processed using the SEM approach of Warp PLS 6.0.The result of reseach showed service quality, trustment, had a positive impact on the level of satisfaction of the people who used the services of PT Jasa Raharja as the Represent of Surabaya, but the responsibility for using the services had a negative impact on the level of public satisfaction, service quality and trust in mediating perceptions of insurance constitution policies. has a positive and significant impact on the level of public satisfaction, while the responsibility mediated by the perception of the insurance constitution policy has a negative and significant impact on the level of public satisfaction.Recently, it was found that the level of public satisfaction with accident insurance services at PT Jasa Raharja as the Represent of Surabaya depends on the behavior of company employees in providing services.

Despite the abundance of articles on product recalls, surprisingly there have been few empirical studies. This paper investigates empirically the linkage between product recalls and the four types of product variety seen on the assembly shops of Indian automobile firms. A negative binomial fixed effects model was fitted on the panel data comprising product recalls by 12 firms in India over a period of 23 years (1997–2020). The results indicate that different types of product variety impact the product recalls differently. While product variety due to limited/special edition cars and petrol cars was found not to have a significant impact on recalls, product variety due to diesel cars was found to have a significant and positive impact. Further, different fuel types were found to have a significant and negative impact on recalls. The findings serve as a useful reference to practicing managers for understanding the trade-off between product variety and recalls.

As an intervention for Halodoc application users, this study aims to determine the impact of telemedicine application product e-service quality and brand trust on customer satisfaction repurchase intent. We surveyed 245 users of Halodoc applications who performed transactions using Halodoc applications at least once in the past year. The data analysis method used SPSS version 23 and the SEM analysis used LISREL 8.8 to process and analyze the survey data. Hypothesis test results show that quality of e-service has a positive and significant impact on repurchase intention, brand trust has a positive and significant impact on repurchase intention, and quality of e-service has a positive impact on customer satisfaction. It shows that it has a significant impact. Trust has a significant positive impact on customer satisfaction, and customer satisfaction has a significant positive impact on repurchase intention. In addition, the results of this study show a positive and significant indirect relationship between quality of e-service and brand confidence in repurchase intent mediated by customer satisfaction and repurchase intent mediated by customer satisfaction.

Tea exports are one of the primary drivers of economic growth in Kenya. Given its importance in the economy, it is necessary to analyze factors that are determining tea export flows between Kenya and its trading partners. In this paper, the key factors determining Kenya’s tea exports to its major 15 trading partners for the period 1990 to 2017 were analyzed using a gravity model method. For this purpose, the secondary data were collected from official websites of the United Nations as well as other reliable sources. The main findings suggest that an increase in the economic size of importing country and depreciation of Kenyan shilling increases tea exports. On the other hand, an increase in population and per capita GDP of the importing country decreases the demand for tea, leading to a reduction of tea exports. Distance is used as a proxy of transportation cost and it is found to have a negative impact on tea exports. Having a common border and trading with countries that are non-landlocked allows the delivery of Kenyan tea at minimum transportation cost, which increases the export flow of tea from Kenya. Moreover, the results reveal that countries that Kenya shares a common colony with and COMESA members have a strong tendency to receive tea exports from Kenya. These results are essential for the formulation of trade policy to ensure that Kenya’s tea export potential is exploited to boost economic growth and generate employment. Keywords: Gravity model, Kenyan tea exports, panel data, fixed effects, random effects, pooled effects DOI: 10.7176/JESD/10-14-15 Publication date: July 31 st 2020

This chapter provides an introduction to the concept of Free Trade Agreement (FTA) and Article XXIV of the General Agreement on Tariffs and Trade (GATT) and then examines the perceived aims and expected effects of the EU-South Korea FTA. It elaborates on market access issues in relation to the FTA. The chapter points out the advantages of the FTA for EU businesses and examines the necessary procedural requirements to comply with, in order to benefit from preferential treatment. It examines the proposed EU-Japan FTA and the Transatlantic Trade and Investment Partnership between EU and US which are expected to be following examples in line with the Global Europe trade strategy. EU-South Korea FTA is introduced as the most ambitious and wide-ranging on sectoral basis FTA ever negotiated by the EU. Subsequently, the European Commission recommended that the European Council open negotiations for an FTA between the EU and Japan. Keywords: EU-South Korea Free Trade Agreement (FTA); General Agreement on Tariffs and Trade (GATT); Global Europe trade strategy; market access issues; procedural requirements; transatlantic trade and investment partnership

The European Union (EU) is one of the biggest traders of agricultural products. In 2017, extra-EU agricultural trade accounted for 7.4% of the total EU international trade. Furthermore, Europe is the main destination for agricultural goods arriving from African, Caribbean and Pacific (ACP) trading partners. The paper analyses the effect of geographical proximity, cultural similarity, free trade agreements on bilateral agricultural trade as well as intra-industry trade between EU member states and its trading partners (intra and extra EU trade), employing gravity model for a period of 1996–2017. Regression results suggest that EU countries export more agricultural products to their common markets. In addition, the export costs of agricultural products are lower if the EU and its external trading partners are culturally similar; have the same religion or both have regional trade agreements. We found a moderate intra-industry trade between the EU and ACP countries at 18%. The results indicate rather inter-industry trade between EU and non-EU members, with a lower index level for ACP countries. A higher positive impact is revealed on the agricultural import between ACP-EU countries than export.

This study aimed to evaluate the impact of Jordan Free Trade Agreements (FTAs) with 17 Arab countries (Greater Arab Free Trade Area (GAFTA)), United States of America (USA) and European Union (EU) on Jordan trade flows. A Gravity model is used to estimate the impact of FTAs in term of trade creation and trade diversion. The study utilizes a panel data sample coving 125 selected countries trading with Jordan for the period 1997-2017. The study used Feasible Generalized Least Squares (FGLS) to estimate the Gravity model. The study results showed a significant impact of Jordan Gross Domestic Product (GDP), trade partners GDP, Jordan GDP Per Capita (GDPC), trade partners GDPC, distance, common language and border variables on Jordan trade. Further, the differences between Jordan and trade parents GDPs showed an insignificant impact on Jordan trade which implies that most of Jordan trade is among trade partners whom have significant different size of GDP. Furthermore, Jordan – EU agreement showed a significant imports trade creation and exports trade diversion. Jordan – USA agreement showed an imports trade diversion and extra regional exports expansion. Finally, Jordan – GAFTA agreement has a significant import and exports trade creation.

Ukraine and the EU are currently negotiating a deep and comprehensive free trade agreement (FTA). Such a FTA can be expected to comprise opportunities as well as challenges for both the EU and Ukraine and to have an impact on agricultural markets. This article provides a model-based quantitative assessment of the potential impact of a FTA on agricultural commodity markets and farmers' revenues in the EU and Ukraine. For the quantitative analysis the dynamic, partial equilibrium model AGLINK–COSIMO has been adapted and applied. The analysis focuses on the bilateral trade positions and not on the effect on other countries. The simulation of a FTA between the EU and Ukraine was done through the elimination of import tariffs for the main agricultural commodities. The results of the simulation indicate a positive change in producer revenue of EUR 393 million (+2.6%) in Ukraine and EUR 860 million (+0.4%) in the EU. So this FTA entails benefits for the agricultural sectors of both trading partners. However, gains from a FTA are not distributed homogeneously and vary significantly among commodities. Ukrainian agricultural producers should also be prepared to meet the challenges involved in the necessity to comply with the quality and sanitary standards of the EU.

Cognitive Driven Biases, Investment Decision Making: The Moderating Role of Financial Literacy

This study aims to determine the impact of social media usage and smartphone addiction of young people, who will be future employees of organizations, on their career future perceptions. In addition, it is aimed to provide recommendations, based on results regarding positive or negative effect of social media and smartphone usage on the formation of the perception of career future. In this empirical study, the data on perceptions concerning social media usage, smartphone addiction, career adaptability, and career futures were gathered by means of a questionnaire from 6259 participating students in Artvin in Turkey. Data were subjected to analysis with SPSS 24.0 software and presented in tables. The findings showed that social media usage has a significant and positive impact on career adaptability and career futures. Also, smartphone addiction has a significant and positive impact on career futures on the other hand it has a negative and significant impact on career adaptability.

Research Originality: The second-largest organisation after the UN, with a population of 24.4% worldwide, makes OIC countries a potential market. This paper contributes to the existing literature on trade within them by focusing on crucial aspects of the trade agreement's impact on the halal food industry.Research Objectives: This study examines the influence of a free trade agreement (FTA) on Indonesian halal food exports.Research Methods: Using panel data from 23 countries spanning the period from 2003 to 2019, the paper employs the gravity model to assess the impact of the FTA and other variables on Indonesian halal food exports to OIC countries.Empirical Results: The findings indicate that Indonesian food exports to OIC countries with FTAs experience a notable 68% increase compared to those without such agreements. The study reveals GDP, population size, trade openness, and exchange rate positively affect food exports to OIC countries. However, trading partners' distance and entry time exhibit a negative correlation.Implications: This research holds significance for the Indonesian government as it provides valuable insights for considering the acceleration of trade agreement ratification with OIC countries. JEL Classification: F13, F47, C68How to Cite:Muchtar, M., Hafid, A., Rodoni, A., Amalia, E., & Hosen, M. N. (2024). Does a Free Trade Agreement’s Impact on the Export of Halal Food to OIC Countries Matter? Evidence from Indonesia. Etikonomi, 23(1), 147 – 166. https://doi.org/10.15408/etk.v23i1.32951.