Effectiveness of trade and economic integration of asymmetric countries: Assessment methods and tools
Despite the deepening trend of neo-protectionism and the exacerbation of disproportions in national economies, trade integration remains a relevant form of collaboration among countries worldwide and a driver of their innovation and technological development. The article provides comparative analysi...
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| Format: | Article |
| Language: | English |
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KeAi Communications Co., Ltd.
2023-11-01
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| Series: | Journal of Economy and Technology |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2949948823000124 |
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| author | Nataliya Kalyuzhna Liudmyla Kudyrko |
| author_facet | Nataliya Kalyuzhna Liudmyla Kudyrko |
| author_sort | Nataliya Kalyuzhna |
| collection | DOAJ |
| description | Despite the deepening trend of neo-protectionism and the exacerbation of disproportions in national economies, trade integration remains a relevant form of collaboration among countries worldwide and a driver of their innovation and technological development. The article provides comparative analysis of a number of methods for economic-statistical and management analysis that can be used to assess the impact of the economic asymmetry of partner countries on the effectiveness of their trade and economic integration, and shows that they have both certain potential for solving the task and a number of limitations. It is substantiated that the co-integration test is a promising instrument for testing the hypothesis about the expediency of trade integration of economically asymmetric partners. The presence of co-integration between bilateral trade indicators of asymmetric countries is to mean the synchronization of their dynamics and relative changes, despite differences in absolute values. Furthermore, confirmed cointegration of bilateral trade flows between countries can be considered as an indicator of adherence to market economy principles and the conditions of free trade, as well as an indicator of the level of integration of countries into the system of international economic relations. Prospects for further research consist in testing for the presence of indicators on bilateral trade between asymmetric partners co-integration on the example of particular pairs of countries that are parties to regional trade agreements being characterized by significant differences through the pace of economic development. |
| format | Article |
| id | doaj-art-a10e301c27f243a2a731cad638577981 |
| institution | Kabale University |
| issn | 2949-9488 |
| language | English |
| publishDate | 2023-11-01 |
| publisher | KeAi Communications Co., Ltd. |
| record_format | Article |
| series | Journal of Economy and Technology |
| spelling | doaj-art-a10e301c27f243a2a731cad6385779812024-11-12T05:22:23ZengKeAi Communications Co., Ltd.Journal of Economy and Technology2949-94882023-11-011119126Effectiveness of trade and economic integration of asymmetric countries: Assessment methods and toolsNataliya Kalyuzhna0Liudmyla Kudyrko1Corresponding author.; Department of World Economy, State University of Trade and Economics, UkraineDepartment of World Economy, State University of Trade and Economics, UkraineDespite the deepening trend of neo-protectionism and the exacerbation of disproportions in national economies, trade integration remains a relevant form of collaboration among countries worldwide and a driver of their innovation and technological development. The article provides comparative analysis of a number of methods for economic-statistical and management analysis that can be used to assess the impact of the economic asymmetry of partner countries on the effectiveness of their trade and economic integration, and shows that they have both certain potential for solving the task and a number of limitations. It is substantiated that the co-integration test is a promising instrument for testing the hypothesis about the expediency of trade integration of economically asymmetric partners. The presence of co-integration between bilateral trade indicators of asymmetric countries is to mean the synchronization of their dynamics and relative changes, despite differences in absolute values. Furthermore, confirmed cointegration of bilateral trade flows between countries can be considered as an indicator of adherence to market economy principles and the conditions of free trade, as well as an indicator of the level of integration of countries into the system of international economic relations. Prospects for further research consist in testing for the presence of indicators on bilateral trade between asymmetric partners co-integration on the example of particular pairs of countries that are parties to regional trade agreements being characterized by significant differences through the pace of economic development.http://www.sciencedirect.com/science/article/pii/S2949948823000124Trade and economic integrationEconomic asymmetryRegional trade agreementGravity modelingTrend detection algorithmCointegration Engle-Granger test |
| spellingShingle | Nataliya Kalyuzhna Liudmyla Kudyrko Effectiveness of trade and economic integration of asymmetric countries: Assessment methods and tools Journal of Economy and Technology Trade and economic integration Economic asymmetry Regional trade agreement Gravity modeling Trend detection algorithm Cointegration Engle-Granger test |
| title | Effectiveness of trade and economic integration of asymmetric countries: Assessment methods and tools |
| title_full | Effectiveness of trade and economic integration of asymmetric countries: Assessment methods and tools |
| title_fullStr | Effectiveness of trade and economic integration of asymmetric countries: Assessment methods and tools |
| title_full_unstemmed | Effectiveness of trade and economic integration of asymmetric countries: Assessment methods and tools |
| title_short | Effectiveness of trade and economic integration of asymmetric countries: Assessment methods and tools |
| title_sort | effectiveness of trade and economic integration of asymmetric countries assessment methods and tools |
| topic | Trade and economic integration Economic asymmetry Regional trade agreement Gravity modeling Trend detection algorithm Cointegration Engle-Granger test |
| url | http://www.sciencedirect.com/science/article/pii/S2949948823000124 |
| work_keys_str_mv | AT nataliyakalyuzhna effectivenessoftradeandeconomicintegrationofasymmetriccountriesassessmentmethodsandtools AT liudmylakudyrko effectivenessoftradeandeconomicintegrationofasymmetriccountriesassessmentmethodsandtools |