Global commodity and equity markets spillovers to Africa during the COVID-19 pandemic

This paper examines the connectedness among 12 African equity markets and the global commodity, developed equity markets, paying particular attention to their evolution during the COVID-19 pandemic's peak period. We find that whilst African equity markets connect weakly to these markets, the levels of connectedness among these markets improved significantly during the pandemic. In addition, the energy market dominates the transmission of shocks in the system with commodity markets. Regarding the system with equity markets, the French and South African equity markets transmit the highest spillover in the full sample and during the pandemic's peak period, respectively. • Examines the connectedness among African equity and the global equity and commodity markets. • Examines the evolution of connectedness among these markets during the COVID-19. • African equity markets are weakly integrated with the global commodity and equity markets • During the COVID-19 peak period, however, the level of integration among these increased significantly. [ FROM AUTHOR] Copyright of Emerging Markets Review is the property of Elsevier B.V. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full . (Copyright applies to all s.)

In Short Supply

The 'bad' Towards the end of 2020, Pfizer announced a reduction in the expected number of vaccine doses it could deliver due to supply chain issues (4). The 'ugly' AstraZeneca's supply announcement resulted in a public dispute between the pharmaceutical company and the European Commission (EC). Sanofi, "Sanofi to Provide Support to BioNTech in ManufacturingTheir COVID-19 Vaccine to Help Address Public Health Needs," Press Release, 27 Jan. 2021.

Challenging foreign investments with digital transformation: a tribute to Yair Aharoni

It is generally accepted that open and competitive markets are necessary to ensure economic growth and that the decision-making process of foreign investment involves 'an intricate structure of attitudes and opinion, social relationships both in and outside the firm, and the way such attitudes, opinions and social relationships are changing'. Therefore, the aim of the research is to explore the characteristics of Italian companies with increasing revenues during COVID-19 to explain if a higher level of innovation affects the survival/adaptability, as well as performance in terms of internationalisation. Based on a review of OECD data on business dynamism that highlights changes in economies and small and medium-sized enterprises (SMEs), the hypothesis is tested with a survey of a sample of 100 Italian SMEs. The results confirm that innovation investments helped maximise revenues in the pandemic period, thanks to foreign investments.

Innovation and internationalisation during times of economic growth, crisis, and recovery prior to Covid-19: A configurational approach comparing Spanish manufacturing family and non-family firms

Based primarily on the Resource-Based View and prior evidence, this study gauges the potential differences in innovative behaviour between international family firms and non-family firms when conditions change drastically in the business environment (i.e. from a situation of economic growth to one of downturn, and then to recovery). The research setting is a large sample of Spanish manufacturing firms between 2007 and 2016 (i.e. pre-Covid-19). During this period (2009-2013), the global economic and financial crisis affected Spain. Thus, three sub-periods are distinguished in the empirical analysis: growth, crisis, and recovery. Using Qualitative Comparative Analysis, our findings show that the paths of innovation activities that promote internationalisation via exporting in family and non-family firms are somewhat dissimilar in each sub-period, supporting the argument that the causal effect of innovation on internationalisation is heavily dependent on environmental conditions. Compared to non-family firms, our results show that when family firms internationalise, they follow a wide variety and more stable number of paths in innovation activities. Our findings also provide additional evidence to support the argument of heterogeneity among family firms.

Is digital transformation a barrier to export reduction during COVID-19? The case of a developing country

This paper investigates the impact of digital transformation on export reduction during COVID-19 by using unique data from Vietnamese manufacturing firms. Digital transformation reflects whether firms had already introduced digital technology before the COVID-19 outbreak or started using digital technology during the COVID-19 outbreak. Meanwhile, an export reduction is a partial de-internationalization in which firms decrease overseas sales. Estimation results from the instrumental variable probit method show that digital transformation has a negative effect on the probability of export reduction. This effect becomes particularly strong for micro, small and medium enterprises. Our findings have managerial implications for firm managers. © 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.

Effects of cross-border E-commerce customs declaration ceiling increase on export performance under COVID-19 conditions

Purpose: This study examines the impact of raising the ceiling value of Electronic Commerce Custom Declarations (ECCD) on Turkey's export performance processed via ECCD during the COVID-19 period. Design/methodology/approach: This paper examines the impact of the pandemic conditions on Cross-Border Electronic Commerce (ECCD) exports from Turkey to 47 countries over 42 months before and during the pandemic. An empirical analysis using the Pooled Mean Group (PMG) and Mean Group (MG), Panel Autoregressive Distributed Lag (ARDL) approach was conducted to identify the factors affecting export flows. Findings: The findings suggest that raising the ceiling of the ECCD trade is a vital factor in increasing exports. and this result is robust after controlling for pandemic conditions. On the other hand, although the COVID-19 shock mitigates the export volume of ECCD in the short run, it changes by reversal and increases the export level in the long run. Additionally, the number of COVID-19 cases and deaths in Turkey have a significant and negative impact on export flows in the short run, while they have a positive and significant effect in the long run. Practical implications: The results of this study have practical implications for policymakers, emphasizing the potential and significance of Cross-Border E-Commerce (CBEC) trade. Originality/value: The study is a pioneering effort in the literature of CBEC to explore how changes in the upper limit on customs declarations can affect export flows, taking into account the impact of the COVID-19 pandemic. © 2023, Emerald Publishing Limited.

THE EFFICIENCY AND THE PERFORMANCE OF THE LOGISTICS GLOBAL SUPPLY CHAIN ACTIVITIES TO VIETNAM EXPORTATION: AN EMPIRICAL CASE STUDY

Purpose: This research paper aims to determine the factors affecting the efficiency and logistics performance index (LPI) of Vietnam's exports to foreign partners during 2018-2022 are due to the impact of the COVID-19 pandemic. Theoretical Framework: Based on the primary factors affecting the efficiency and performance of global supply chain activities in logistics for Vietnam's exports, including practical impact and logistics results of enterprises in Vietnam. Based on the primary factors affecting the efficiency and performance of global supply chain activities in logistics for Vietnam's exports, including (1). Customs efficiency (speed, simplicity and predictability of customs clearance procedures) (2). Quality of infrastructure related to trade and transport, including Roads, railways, ports, airports, warehouses and information technology ...(3). The level of ease when arranging to transport import and export goods with competitive prices (costs such as warehousing fees, port fees, tolls ...) (4). Capacity and quality of logistics service providers ... (5). Ability to track and trace shipments. (6). Timeliness of the shipment to the destination within the specified time limit. The practical impact and logistics results of enterprises in Vietnam. Method: The panel approach allows the authors to explore the heterogeneity in data across countries. Fixed effects (FE) and random effects (RE) models were used to estimate the model. Then, the Hausman test is carried out to decide which model is appropriate. The data were collected from 240 observations from Vietnam and 80 major export partner countries of Vietnam. Findings: The research results show that the cost, time and capacity of providing logistics services have the most significant impact on Vietnam's exports. Practical & social implications: Overall, to increase the efficiency and logistics efficiency of enterprises. The Vietnamese Government needs to cooperate and propose ideas to partner countries to improve logistics activities for exports from Vietnam. Logistics is beginning to play an increasingly important role in the competitiveness of economies. Originality values: This study also confirms the sustainability of the extended gravity model using OLS and RE methods by substituting different variables for the country's logistics efficiency and solving the endogenous problem in the model while applying the regression method to industrial variables. We find that an 1% improvement in Vietnam's logistics would increase Vietnam's exports by 1.443%, and an 1% improvement in a partner country's performance would help promote Vietnam's exports to this country by 0.546%. © 2023 Seventh Sense Research Group®

Time-Frequency Volatility Spillovers among Major International Financial Markets: Perspective from Global Extreme Events

In the context of the gradual intensification of the Russia-Ukraine conflict and the continuous spread of the COVID-19 pandemic, this paper concentrates on the impact of global extreme events such as the COVID-19 pandemic and the Russia-Ukraine conflict on the risk spillovers among major international financial markets. First, to measure the impact of the extreme events the on the volatility spillovers among major international financial markets in the time-frequency domain, we combine the TVP-VAR-based connectedness method and BK frequency connectedness approach and focus on the total, directional, and net volatility spillovers. Second, the network visualization method is applied to outline the structural change in the risk contagion, paths, and roles among international financial markets during different periods of global extreme events. The empirical results indicate that the risk spillovers (total, directional, and net spillovers) among international financial markets and the roles played by each market in the process of risk contagion have changed significantly in different periods of global extreme events. Furthermore, volatility spillovers among international financial markets are driven mainly by the high-frequency component (short-term spillovers) during the full sample time. However, the effects of the extreme events also persist in the medium and long terms. Our findings may help understand the dynamics among international financial markets under extreme shocks and provide significant implications for portfolio managers, investors, and government agencies in times of extreme events. [ FROM AUTHOR] Copyright of Discrete Dynamics in Nature & Society is the property of Hindawi Limited and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full . (Copyright applies to all s.)

Analysis and Countermeasures of the Influence of COVID-19 on the Commodity Category of Port Export in China: Taking Shanghai Port as an Example

Su, B.;Guan, C.;An, Q., and Wang, Q., 2020. Analysis and countermeasures of the influence of COVID-19 on the commodity category of port export in China: Taking Shanghai Port as an example. In: Liu, X. and Zhao, L. (eds.), Today's Modern Coastal Society: Technical and Sociological Aspects of Coastal Research. Journal of Coastal Research, Special Issue No. 111, pp. 298–301. Coconut Creek (Florida), ISSN 0749-0208.Since the end of 2019, the novel coronavirus has spread rapidly, which has affected the economy, social interaction, and foreign trade, both in China and around the world. Import and export trade has become an organic part of China's national economy. Import and export trade accounts for nearly 35% of the national economy, which is a major part of China's economic growth. This article takes Shanghai Port as an example, collecting and analyzing the exporters of Shanghai Port in China from January to May 2020. Compared with the relevant data of the same period in 2019, this article discusses the major commodity categories that are affected by the epidemic situation in the export trade volume of Shanghai Port, giving countermeasures according to the influence situation in order to stabilize the quantity of this category in the future and reduce the risk of lower port trade volume of the export commodity categories affected by public health emergencies in China's port trade. At the same time, some suggestions and countermeasures are given to the ecological environment problems affecting the sustainable development of ports.

TRADE IN GOODS

As international trade became more sophisticated, the ‘traditional' trade in goods topics seemed to be entering an extinction phase and be substituted by other forms of trade regulation, such as technical barriers or sanitary measures. However, in recent years and for different reasons, many of them reclaimed their relevance. This chapter also discusses an essential tool for the operation of trade in goods, which is tariff classification, as well as an often overlooked but fundamental issue in trade in goods regulation, which are the rules of origin. Global value chain operations could not be conceived without rules of origin. Finally, the COVID 19 pandemic revealed how vulnerable international trade could be to import and export restrictions, such as quotas or licences, and how important trade facilitation could be to bolster trade and even to save lives. © Oxford University Press 2022. All rights reserved.

Exporters under siege: Dissecting trade policy responses to COVID-19

Our study assesses trade policy responses in eight advanced small open economies: Australia, Canada, Denmark, France, Ireland, New Zealand, Norway, and Singapore. We catalog 36 distinct initiatives addressing information, education and training, trade mobility, and financial aspects, and the endeavor of several countries to establish such responses, not as piecemeal interventions, but cohesive programs intended to transform the export sector. Further, we highlight how the far-reaching impact of the pandemic creates homogeneity in exporter needs, negating distributional challenges. The all-inclusive nature of the responses, and the involvement and interest of multiple stakeholders, suggests that instead of giving up on globalization, global commerce is doubling down. © 2022 International Council for Small Business.

Impact of COVID‐19 on Bangladesh's agriculture sector and the ways forward to recovery: An overview

The COVID‐19 outbreak has left an indelible effect on Bangladesh's agriculture sector, like that of most developing countries. Considering that agriculture is the cornerstone of Bangladesh's economy, we made an effort to compile a detailed scenario of COVID‐19's effect on it through a relevant literature review. Since no significant studies outlined a complete picture of the pandemic's impact on agriculture, our study ventured to reveal the circumstances of each sub‐sector of agriculture. During the early phases of the pandemic, farmers engaged in agriculture production got poor prices, with the majority of them incurring losses. Labor shortages and input scarcity were the most prevailing hindrances across all the sub‐sectors. The export volume seemed to shrink hugely, hurting the country's GDP. The supply chain for agricultural commodities was disrupted as a result of the lockdown and mobility restrictions, which resulted in the elimination of the majority of intermediaries. Unprecedented challenges occurred in the input and output markets, as well as in the agro‐industries, exacerbating the situation. However, while the vegetables and poultry sub‐sectors recovered utterly and the dairy sub‐sector somehow managed to stabilize, other sub‐sectors are still grieving. This study highlighted some policies that can mitigate the miseries of the agriculture sector and overcome further potential threats in Bangladesh and other agriculture‐led developing countries. [ FROM AUTHOR] Copyright of Journal of Public Affairs (14723891) is the property of John Wiley & Sons, Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full . (Copyright applies to all s.)

Food export restrictions during the COVID-19 pandemic: Real and potential effects on food security

The purpose of the article is to review and critique the implementation of food export restrictions in times of crisis in addressing food security challenges. The methodological approach was to undertake a narrative literature review to outline the challenge of ensuring food security in times of crisis. We explored the problem of food export restrictions introduced in 2007-2008 and 2020 and assessed the changes in the state of food security at the national level during the COVID-19 pandemic using the Global Food Security Index (GFSI). The trade restrictions imposed in 2020 did not play a key role in the increases in international food prices as was the case during 2007-2008 and 2010-2011. The analysis of GFSI values questions whether food export restrictions have been sufficient measures given the size of the food security challenge during the pandemic, and this is a new contribution of this research. The issue of food export restrictions is underregulated in the World Trade Organization (WTO), and this needs to be urgently addressed by another institution, e.g., Food and Agriculture Organization (FAO), given that the war in Ukraine is endangering food security across the world.

Effects of the Covid-19 pandemic on the top seven Mexican exporting companies

The purpose of this research is to reveal the behaviour of the main Mexican exporting companies during the 2018-2020 period, which covers part of the COVID-19 pandemic phase. The results indicate that it is not viable to invest in this type of companies for the time being, and this is shown empirically through the traditional Markowitz investment portfolio selection methodology and its extension through the Sharpe model. © 2022 Emerald Publishing Limited. All rights reserved.

Why do some firms stop exporting?

During economic turbulence, such as those caused by the US-China conflict and COVID-19, sunk cost effect has garnered attention in IB literature. As it becomes increasingly difficult to predict export profits, relying on sunk costs for strategic positioning in export markets appears to be a rational decision. However, few studies quantitatively examined sunk cost effect variations, especially in export-exit decision-making. In our study, we quantified sunk cost effect with respect to export performance and export portfolio, specifically in terms of export-exit probability. Our findings indicate that the export-exit rate due to sunk cost effect is less than 50% only if export volume surpasses a certain threshold. Consequently, we have provided an explanation for why export exits still occur in the presence of high sunk costs. Additionally, we have identified that geographic diversification, up to four destinations, has more synergy with sunk cost effect than product diversification, particularly in volatile environments. © 2023 Elsevier Ltd

Resilient Trade During The COVID-19 Pandemic: Why Does Export Diversification Matter?

Trade economists emphasised that export diversification plays an essential role to mitigate trade shocks. Nevertheless, little empirical evidence justified the argument regarding pandemic-led disruption effects. The study examines the role of export diversification in mitigating the adverse effect of the coronavirus disease (COVID-19) pandemic in Malaysia. The results suggest that a country-based export diversification plays a vital role in minimising COVID-19 exports disruptive effect, with greater weight on the regional trade. Nevertheless, long-term product diversification is relatively beneficial to promote growth and trade resilience © International Journal of Economics and Management

Who's to blame for Greece?: Life after bankruptcy: Between optimism and substandard growth

This expanded and enlarged third edition of Theodore Pelagidis and Michael Mitsopoulos' popular Who's to Blame for Greece? covers almost a decade of Greece's economic crisis from 2009 to 2019, as well as recent developments in the first months of 2020. It provides an overview of recent developments in the Greek economy and outlines the most important obstacles to a return to robust and sustainable growth rates. It considers the new optimism being developed in Greece after the crisis, but also the policy challenges facing Greece emanating from a deeply hurt economy in the aftermath of the crisis and the structural problems that persist. The book covers the most recent issues that affect the Greek economy including, the migration crisis at the borders with Turkey as well as a faltering global economy hit by the Covid-19 pandemic. This book will appeal to researchers, practitioners and policy makers interested in the EU and the political economy of Greece and offers valuable updates on the second edition. © The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2021.

SME networking capabilities in export markets and contingencies related to power asymmetry and brand assets

This study looks at SME strategic dilemmas in the post-covid world by using the concept of three different but related networking capabilities to deal with the cyclical nature of a business relationship portfolio. The study adds to our understanding of networking capabilities by addressing when specific capabilities (network expansion capabilities, network development capabilities and network management capabilities) should be used by internationalized SMEs towards their partners in export markets. To test the hypothesized structural model, we use survey data from 250 SME manufacturers in the dynamically internationalizing Polish furniture industry. The research results prove that while SME capabilities for business network development and for business network management improve relationships with current retail partners in export markets, network expansion capabilities directly help in improving export market performance. However, the use of networking capabilities is contingent upon external and internal factors. On the one hand, SMEs may more effectively use network expansion capabilities if these are supported by brand assets. On the other hand, SME use of network development capabilities is restricted by the coercive power advantage on the side of export retail partners. © 2023 Elsevier Inc.

DEVELOPMENT OF WORLD SUGAR MARKET AFTER END OF SUGAR QUOTAS IN EU

In October 2017, the regulation of sugar production in EU countries came to an end. This article aims to analyze the development of the world sugar market after the end of the sugar quota regime. European producers had been preparing for the end of quotas for a long time, but in addition to the abolition of quotas, they also had to face negative external factors. These were mainly the global overproduction in 2017/2018, which caused a dramatic drop in prices, the fact that the ban on the use of neonicotinoids in outdoor areas came into force in the EU in 2018, adverse climatic conditions, and the effects of the COVID-19 pandemic in 2020 and 2021 as well as a dramatic price increase in utilities and other inputs from 2021. The European sugar industry is currently undergoing restructuring. According to the OECD, production growth is projected to be weak, notably due to a lack of alternatives to neonicotinoids and prices that are not sufficiently attractive to encourage massive investment in the sector. The advantage of market liberalization should increase the export performance of European sugar factories. In the monitored period, EU producers did not benefit from this advantage (the export of all EU producer countries reached only 1.3 million t in 2021/2022, while 2 million t of sugar were imported into the EU). Brazil, Thailand, and India still dominate the world sugar market. The total volume of their exports in 2021/2022 represented a total of 44.43 million t. © 2023, VUC Praha, a.s.. All rights reserved.

Economic Adaptability in the Absence of Democratic Corporatism: Explaining Lithuania's Export Performance

Viewed in light of democratic corporatism literature, Lithuania is a deviant case. Although it lacks essential institutional prerequisites deemed important for export success and flexible adaptation to external shocks, the small Baltic country has been among the best performers in the European Union on these dimensions. Lithuania has become very internationally integrated and has managed to quickly adjust to numerous shocks, such as the Russian financial crisis of 1998–99, the Global Financial Crisis of 2008–2009, and the COVID-19 pandemic. In this article, we analyse Lithuania's export specialization and show how particular institutional elements have supported flexible adaptation and competitiveness improvements: we cover the labour market, state's involvement in terms of domestic compensation and public goods provision, education and skills, and the role of political legitimacy. Lithuania's case has implications for the literature on the political economy of small states and the debate regarding the middle-income trap © 2022 Vytautas Kuokštis, Ramūnas Vilpišauskas. Published by Vilnius University Press. This is an Open Access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited