The Necessity of New Versions of Bilateral Trade Balances and COVID-19: The Nonlinear ARDL Approach for the USA and Japan
Küçük Resim Yok
Tarih
2023
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Sage Publications India Pvt Ltd
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
This study aims to reveal the need to reformulate new forms of Bilateral Trade Balances (BTBs) for a country rather than a traditional BTB. This is because the traditional BTB ratio, based on total exports and defined as the total exports/total imports ratio, cannot classify and quantify a BTB based on its economic impact content. It fails to classify because countries also export goods already imported (denotes re-export) besides exporting their domestic goods produced within the country (denotes domestic export). It also fails to quantify because, while domestic goods undergo a value-added process within a country, re-exported goods do not. In this context, for the first time, this study attempts to reformulate/reinvestigate new forms of BTBs as production-related BTB, based on domestic export and non-production-related BTB, based on re-export for the USA with Japan. Empirical findings confirm the necessity and cruciality of the proposed methodology in this study.JEL Codes: F10, F14
Açıklama
Anahtar Kelimeler
Production-related bilateral trade balance, non-production-related bilateral trade balance, Nonlinear ARDL Approach, the USA, Japan
Kaynak
Foreign Trade Review
WoS Q Değeri
Q3
Scopus Q Değeri
Q2
