Figure 1 - uploaded by Muhammad Saqib Irshad
Content may be subject to copyright.
Source publication
One of the most significant occurrences over the last two decades in the area of economic desegregation was the sharp increase in bilateral, multilateral and regional trading arrangements since the end of the Uruguay Round in 1994. It is extensively believed that the international trade organization, WTO, increases trading systems and encourages tr...
Similar publications
One of the most significant occurrences over the last two decades in the area of economic desegregation was the sharp increase in bilateral, multilateral and regional trading arrangements since the end of the Uruguay Round in 1994. It is extensively believed that the international trade organization, WTO, increases trading systems and encourages tr...
Nepal, a landlocked by two giant economies-China and India, is the first "Least Developed Country" (LDC) to become a member of the World Trade Organization (WTO) through the negotiation process. Moreover, Nepal aimed to diversify its trade and to make the trade regime more liberal to integrate into a global trading system being a member of the WTO....
Citations
... Successful implementation of free trade agreement would lead to a reduction or elimination of import tariffs that could have a negative impact. Irshad et al., (2016a) it is obvious that WTO membership is a plus point for countries to improve their trade volumes. However in our case, it is found no significant impact on bilateral trade of Pakistan while trade with landlocked countries negatively influences trade flows. ...
Nonlinear measurement of gravity model with PPML regression technique has become admired for modeling international trade flows since it approves a better accounting for zero flows and excessive values in distribution tail. In the present study, we have endeavored to investigate the bilateral trade milieu of Pakistan with 198 trading cohorts over the time epoch (1992-2016) 25 years and to stumble on latent markets in case of Pakistan's bilateral trade. The empirical results revealed that market size, bilateral exchange rates, income differential, common religion, border, and trade agreements positively influence bilateral trade volume while bilateral distance and landlocked countries showed a negative relationship towards bilateral trade of Pakistan with rest of the world. The outcome also illustrates that the trade pattern of Pakistan hinges on the Heckscher-Ohlin (H-O) theory, therefore, can be explained by the dissimilarity in factor endowments whereas the WTO membership does not have any influence on bilateral trade of Pakistan. Pakistan owns satisfactory potential to enhance its bilateral trade with nearly 102 countries. The highest potential lies with countries Saudi Arabia, Malaysia, Somalia, Hong Kong, Iran and USA whereas actual trade has exceeded with countries like China, Oman, Spain, UAE, Germany, and the UK. Hence, there is need to address all measures to improve bilateral trade with potential countries moreover per se Pakistan can perhaps decrease or handle the trade discrepancy by targeting these economies, to bring about a reasonable quality in mutual trading relations.
... Our results proved that 1% increase in neighbouring country leads to 2.23% increase in rice export of Pakistan. It is extensively believed that the international trade organization, WTO, increases trading systems and encourages trade Irshad, Xin, Ayaz, and Ali (2016). The dummy variable for WTO has appeared with positive and significant effect on Pakistani rice exports. ...
The article focuses on highlighting the processes of international legal regulation of economic cooperation between states. The authors consider the example of the European Union and the Association of Southeast Asian Nations. Also, the paper identifies their specific features and evaluates effectiveness.
This purpose of this paper is to investigate the factors that affect the mandatory disclosure of corporate social responsibility (CSR) among firms listed on the Emirates Securities Market of UAE (ESM). These factors include the following: corporate ownership, financial performance, board size, corporate visibility and gender diversity. Since 2017, firms listed on the SET have been required to disclose CSR activities in either an annual registration statement or a separate report called a sustainability report. The data analysis was conducted using econometrics regression models based on the sample consists of 62% manufacturing, 28% financial and insurance, and 10% other firms. The results revealed that the impact of research factors on CSR disclosure is not significant. Accordingly, the government ownership has a significant impact on mandatory CSR disclosure. The findings support the stakeholder theory that firms to carry out CSR activities in order to enhance stakeholders’ perception of financial performance and the firm’s ability. In this context, UAE, stakeholders influence significant determinants of the mandatory CSR disclosure. The paper contributes to the understanding of determinants of mandatory CSR disclosure and offers findings which are potentially useful for both theory and practice to other developing or emerging economies that have similar economic and financial structure.
The decades-long history of friendly relationship in both countries bore the fruits in the form of Pakistan–China free-trade agreement (PCFTA) in 2006. This paper aims to estimate Pakistan’s bilateral trade potential with China by employing gravity model of trade in a panel data set covering the period 1992–2015. In an attempt to obtain unbiased results we have utilized various estimation methods as suggested by the recent empirical literature on gravity equation to acquire the maximum variation in results. The results from EGLS, REM, two-stage EGLS, GMM, Tobit and PPML have shown that Pakistan’ bilateral trade with all FTA partner countries is positively affected by GDPs, religion, WTO, trade openness in both countries and the common border; whereas negatively affected by geographical distance and inflation. It is also stated that common language and (Trade Agreements) PTA found to be pessimistically exaggerated bilateral trade of Pakistan with FTA partners. The overall PTA effect is negative and highly significant albeit we have found immense trade potential of Pakistan in case of China by most of the estimation techniques. The industry of Pakistan and exporters should adopt new measures to boost and diversify the exports to China and to bring about a reasonable equality in mutual trading relations.
Rice is an important source for foreign exchange earnings for Pakistan’s economy, keeping this fact in mind, this study is to calculate competitiveness of rice export of Pakistan in international market compared to largest exporter countries and this article is the first empirical attempt using a panel-gravity approach by employing PPML technique and to find out potential countries for Pakistani rice export to 144 countries over the period 2003–2016. The outcomes of this study revealed that as compared to other major exporters of rice in the international market, Pakistan had high competitive and comparative advantage in the exportation and production of rice. We confirm the positive relationship between rice export of Pakistan and the main components of the gravity model, GDP of Pakistan and trading partner, the difference in income, common border, and WTO membership and an inverse relationship with distance, exchange rates and trade agreement. The results for rice export potential suggest Pakistan still has plenty of rice export potential with 109 countries and as such Pakistan can possibly reduce and gain foreign exchange earnings to reduce the trade deficit by targeting these countries. So as to utilize the potential benefits of rice exports, policy makers need to reinforce the competitiveness in rice sector of Pakistan.
This study examines the export flow of South Korea by utilizing pooled ordinary least square (OLS) along with time fixed effects by employing augmented gravity approach. It has also attempted to find out the potential market for South Korean exports. In this study, we analyze comprehensive panel dataset for time period 2001-16 (16 years) covering South Korea’s 189 importing nations. The result emerges robust to the requirement, time interlude and trade determinants. The empirical consequences are determined consistent through the gravity approach since the result discloses constructive coefficients for economic mass, bilateral exchange rate, trade agreements and trade openness in partner country and negative coefficients for distance and landlocked countries. The results also illustrate that the export pattern of South Korea hinges on the Heckscher-Ohlin (H-O) hypothesis, therefore be explicated by the dissimilarity in factor endowments for instance technology and advancement. We have found immense export potential with 94 countries including China, Japan, Hong Kong, Germany, France, Indian and the UK. Our analysis witnesses that strong policy implication and to diversification in the export leads South Korean exports at remarkable growth.
In this paper, we have endeavored to analyze a sector-wise export performance of Pakistan using Revealed Comparative Advantage with the global market. Data for the period 2003-2015, Harmonized System (HS) 1988/92 developed by the World Customs Organization (WCO) are employed in the analysis. We have observed that Pakistan foreign trade concentrated limited products and markets for many years and there are no serious attempts to diversify its export share to the world. Empirical results show that Pakistan is not a major trading player in the international trade. However, it is a major trading player in some of its export items such as, textile and clothing sector, Vegetable, and hides and skins sector which have prominent revealed comparative advantage. Pakistan should diversify its exports and improve its trade diplomacy.
