Browsing by Subject "Trade"

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  • Chi, Louchin (Helsingin yliopisto, 2018)
    In the 20th century global trade began changing dramatically in its volume and its form and in turn, many new theories of trade and economics have been created as a reaction to these changes. Using data from two developing regions--South Asia and Southeast Asia--which are expected to be the global leaders in economic growth in the 21st century, South Asia and Southeast Asia, this paper is an empirical study of the impact of several of the new determinants of growth: export composition/diversification, financial and institutional development, financial volatility, FDI, external debt, energy dependence, and international trade taxes. The author also creates within the model measures of trade balances across several commodities to measure and control for heterogeneity in economic structures and conditions. The study concludes that FDI, financial development, debt, and international trade taxes can be conducive for economic growth in a developing economy while higher inflation, higher interest rates, and export-orientation of some manufactured products should be avoided.
  • Morgan, Jamie; Patomäki, Heikki Olavi (2017)
  • Morgan, Jamie; Patomäki, Heikki Olavi (2017)
  • Saarnio, Tommi (Helsingin yliopisto, 2021)
    The importance of global regulation in the field of trade and investments is stronger than ever. Globalization has created a deep global integration, where capital is highly mobile, crises are more common and inequality is at unprecedented levels. Currently, the World Trade Organization (WTO) is trying to reform its operations and looking for a way forward during a period of an intense debate between the neoliberal ideology and feasible alternatives. This thesis investigates the creation and provisions of the International Trade Organization (ITO) and compares it to the WTO. It seeks to show how the ITO can provide fresh ideas and solutions to the contemporary challenges. This thesis utilizes comparative analysis to examine the investment regulation in the two organizations. More generally, this thesis is influenced by the critical realist approach to social sciences. The primary sources for the analysis are the Havana Charter, the Agreement on Trade-Related Investment Measures (TRIMs) and the General Agreement on Trade in Services (GATS). The comparative analysis indicates that there are major differences in the treatment of investments between the ITO and the WTO. First, the TRIMs and GATS Agreements tend to support the WTO’s main objective of liberalization, which stems directly from the neoclassical theory. In contrast, the Havana Charter appears to be a more heterodox from the perspective of economic theory. In addition, the findings suggest that the Havana Charter is more development-friendly, has more balanced regulation between investors and host countries, and regulates also private actors, such as multinational corporations. From the end of the 20th century until this day, liberalization has reigned in the trade and investment domain. It is argued that in the future, more emphasis should be put on a wide variety of issues to support sustainable and inclusive development. Furthermore, it is suggested that the ITO points towards global Keynesianism, which could serve as an adequate path towards a better governance of global trade and investments in the 21st century.
  • Huttunen, Kristiina (2002)
    This study investigates the changes in the skill structure of labour demand using panel data on Finnish private sector establishments, with linked information on worker characteristics. We also examine whether directly observable measures of technological change and trade explain the changes in skill structure of Finnish manufacturing sector plants' work force. Worker's skill level is defined by both education and age. The data on Finnish private sector establishments for years 1988-1998 reveal that the skill structure of work force has shifted towards highly educated and older. The increase in the share of both highly and less educated older workers has mainly occurred within establishments while the increase in the share of younger highly educated workers has occurred between establishments and by entry of new establishments. The decomposition analysis by plant characteristics reveals that the increase in the share of highly educated younger workers is attributed to relative increase in employment of exporting and R&D intensive plants, while the increase in the share of older workers has occurred equally within all plants. The panel estimation results without plant controls show that increase in the selected technology variables, industry- and firm-level R&D intensity increases significantly the demand for highly educated younger workers while the impact of this variables is much less pronounced or even insignificant for older highly educated workers. However, the fixed effects estimation results provide no evidence that R&D intensity would have an impact on the within-plant changes in the skill mix. With respect to the export-share variable the estimation results provide some evidence that trade decreases the demand for older workers.