Wishing a Merry Christmas to those who celebrate! The ARTNeT Secretariat extends warm season’s greetings to all ARTNeT partners, associate partners, members and participants to ARTNeT activities and would like to thank all contributors for their valued inputs in 2016. We wish all of you a peaceful and joyous holiday season and we look forward to another year of successful collaboration under ARTNeT. We hope you will achieve all your personal and professional goals set for 2017!

The secretariat would wish to remind all ARTNeT members and partners of the opportunity to showcase your upcoming publications and events through ARTNeT channels including this newsletter, the ARTNeT website and social media.

This User Guide is an updated version of the original publication issued in 2012. The publication provides a hands on introduction to gravity modeling for applied policy researchers. It is designed to be used in conjunction with a dataset of bilateral trade in services available for free download, and readers are encouraged to replicate the results presented here using the Stata code provided in the text. Although some basic knowledge of Stata is required as a pre-requisite, more advanced commands and techniques are introduced in the text as necessary. Once the basic techniques have been mastered, readers are encouraged to extend the results presented here using alternative specifications and methodologies.

The scope and depth of bilateral and regional preferential trade agreements (RTAs) negotiated over the past 15 years has expanded beyond traditional market access and preferential tariffs to include provisions on a wide range of issues, including trade facilitation. This paper is a first attempt to measure the extent to which RTA provisions related to those featured in the WTO Trade Facilitation Agreement (TFA) contribute to reducing trade costs. Inclusion of such provisions in RTAs does not appear to systematically result in their implementation. Nonetheless, the authors find that TFA-related provisions in RTAs have a statistically significant impact on bilateral trade costs among RTA members. Aid for Trade Facilitation measures and Freedom of Transit provisions are found to be relatively more effective at reducing trade costs between members than other types of trade facilitation measures. Importantly, the discriminatory (preferential) effect of trade facilitation provisions in RTAs is accompanied by a nondiscriminatory reduction in trade costs with all trade partners. Multilateral spillovers from trade facilitation measures in RTAs on trade costs are found to exceed any discriminatory effects within three years of an RTA’s entry into force, highlighting the complementarity between regional and global trade facilitation initiatives.

This policy brief aims to highlight just some of the ways that Information and Communications Technologies (ICT) will almost inevitably play a role in helping WTO Members implement their commitments under the WTO Trade Facilitation Agreement (TFA). Indeed, the important role that the internet will play is explicitly recognized in the text of the TFA, as well as in some of what are the assumptions clearly underlying many of the Agreement’s provisions. But there are other ways that ICT can be leveraged to enhance and facilitate WTO Members in realizing the objectives inherent to the TFA, which this brief also aims to discuss.

In China’s Economy: What Everyone Needs to Know, Arthur Kroeber examines the recent development and roles of key sectors in China’s economy. He also discusses the hot issues of labour markets, consumer spending, and income inequality. His discussion addresses current problems and how the Government has reacted to them. The last two chapters emphasize the need for China to focus on more efficient growth and its growing impact on the world. For the most part, the book is more descriptive than prescriptive. It provides a concise and well-guided tour of China’s economy rather than intensively arguing a particular thesis. It is reader-friendly with plain language and simple graphs illustrating trends. Each chapter consists of short sections headed by questions, so readers can easily follow the main logic and avoid getting lost in the details. Despite his experience of living in China, the author bases his assessments more on statistics and public sources than on personal observations.

Reviewed by Jiayi Huang, Duke University (a candidate for the MA degree in Economics). For the full reivew please visit here. 

 

The WTO and the ESCAP 2016 technical training for ARTNeT researchers focuses on "Empirical methods in trade: Analyzing non-tariff measures" and is taking place from 12 to 16 December 2016 at the UNCC, Bangkok, Thailand.

The workshop aims to broaden and deepen participants’ understanding of the non-tariff measures, which have been playing an increasingly important role in trade and development. The focus will be on the use of techniques and software in calculating indicators of presence and spread of non-tariff measures as well as of empirical methods in analyzing non-tariff measures’ impact on trade, prices, production and welfare. The target participants for the workshop are researchers and analysts in government departments or institutes dealing with international economics and development areas.

The presentation will be available online to public afterwards. 

 

This project focuses on the domestic fiscal and financial policy options for Emerging Asian countries in funding infrastructure development and maintenance. The papers for this conference will cover but not limited to the following issues:

- Types of taxes, including earmarked tax, their usage, and their cost-benefit analysis
- Expanding fiscal capacity and sustainability
- The design of fiscal investment and postal savings programs for emerging economies
- Infrastructure finance: risk reduction, improving rates of return, moral hazard, governance aspects
- Large and strategic infrastructure projects: preparation, strategy of implementation, political intervention, and evaluation
- Institutional setup and institutional capacity in delivering national infrastructure: regulatory type, period of validity, collecting mechanism, management body, audit system, authorities, reporting.

Deadline for the draft paper submission: 31 December 2016. For the submission guidelines and more information please visit here. 

Beijing Normal University and WWF, in association with the ESCAP and the ARTNeT, organised the 2016 International Conference on Green Trade. It was held from 6 to 7 December 2016 in Beijing, China.

The concrete objectives were to identify the trends and assess the potential environmental impacts of the growth of trade in Asia and beyond; explore viable solutions that focus on leveraging domestic policies and incentives to strengthen sustainability safeguards; explore viable solutions that focus on promoting international and regional green trade rules; develop policy recommendations for the governments of both importing and exporting countries that aim to promote inclusive and equitable approaches to share economic benefits, as well as to advance the empowerment of women in socio-economic decision making; and identify the best practices in the public and private sectors that promote sustainable production and responsible trade.

The Conference aimed to bring together speakers and participants from governments, the private sector, civil society, academia, etc., and featured active dialogues among participants to address various issues of promoting Green Trade in Asia and globally.

For the presentations please visit the website.

 

The ARTNeT member, Faculty of Economics, Chulalongkorn University, orginised a seminar on the topic of 'Ensuring trade and investment agreements protect Thailand’s national Interest in public health' on 9 December, Bangkok, Thailand. In the seminar, Professor Andrew Mitchell introduced international trade and investment law for a health audience and explained why this area has become important to the public health sector using examples of trade and investment law litigation against public health measures. This includes the litigation by Philip Morris against Australia and Uruguay over their tobacco control measures. He discussed the options available to Thailand to minimise its legal risks and preserve its policy space for health policies. 

UNCTAD and the Politecnico di Milano invite public to participate in the Massive Open Online Course, Entrepreneurs without borders, scheduled December 5 to February 26. Leading experts from both institutions will offer an overview of entrepreneurship, business and social innovation.

The course is addressed to participants from developed and developing countries, particularly  students and young graduates, interested in learning about new business development.

Participation is free of charge. Online registration is now open. For enrolments and more information please visit here. 

The International Trade Centre (ITC) is offering case studies and webinars to support university lecturers who wish to integrate Trade Map, one of the world's largest trade databases, into their courses.

The one-hour online interactive presentations may be conducted in English, French or Spanish. For more information please visit here. 

The establishment of ASEAN was driven primarily by regional security reasons and further strengthened by their economic cooperation. Although it has been suggested that ASEAN should forge a greater financial integration, there are some reasons to believe that it may not be attainable in the near term, i.e. the segmented nature of ASEAN’s financial markets, varied level of financial developments in ASEAN members, and low-level of capital account liberalization. The objective of this paper from our member CSIS is to propose what ASEAN should do with regards to the pros and cons of financial integration. Based on the discussion at financial markets development, capital markets, bond markets, and regional financial integration in ASEAN, we have proposed that each ASEAN member country should continue to develop its capital market to promote the efficiency of investment and boost the economic growth.

India along with other countries signed the declaration on the 2030 Agenda for Sustainable Development, comprising of seventeen Sustainable Development Goals (SDGs) at the Sustainable Development Summit of the United Nations in September 2015. RIS through its work programme on SDGs in collaboration with UN in India pursued a rigorous research agenda to explore various facets of India’s negotiations, adoption and implementation of SDGs.

As part of the work programme, our member RIS launched a special paper series on each of the 17 SDGs and two cross cutting themes – technology and finance authored by eminent experts in the related subjects. This publication is a compilation of the thematic papers and addresses key issues like: achievements under the respective/related MDG targets; remaining gaps in fulfilling targets under the respective/related MDG; philosophy and concept of the respective SDG and the targets; and implementation framework to be adopted by India in fulfilling the goal.

This Volume would be found useful by all those who are working for successful implementation of SDGs agenda, particularly from the point of view of India.

The perspective on Trump administration from our member ISEAS concludes:

- Donald Trump’s election victory casts doubt on America’s commitment to East and Southeast Asia, adding to long-standing concerns about US staying power.
- Likely economic policy changes are expected to have negative implications for Southeast Asian economies.
- China will top President Trump’s Asia agenda, and the tenor of Sino-US relations will significantly impact Southeast Asia’s economic prospects and security environment.
- A more transactional, or even isolationist approach to Asian security by the United States under Trump may lead some Southeast Asian countries to reinforce strategic cooperation with Japan and Australia, while others may move to accommodate China’s security interests.
- On the South China Sea, the Trump camp has sent mixed messages which suggest either a more confrontational posture towards China or less engagement in the dispute. Either scenario could raise tensions.

ISEAS - Yusof Ishak Institute (ISEAS)

Can China’s OBOR Initiative Synergize with AEC Blueprint 2025?

ASEANFocus

The Impact of Local Content Requirements on the Indonesian Manufacturing Industry

Evolving Paradigms in Regional Development in Malaysia

Korea Institute for Internaional Economic Policy (KIEP)

The International Transmission of U.S. Monetary Policy on the Korean Economy

Research and Information System for Developing Countries (RIS)

Financing Technology Delivery for SDGs: A Way Forward for TFM

The BRICS Initiatives Towards a New Financial Architecture: An Assessment with Some Proposals

The Institute of South Asian Studies, National University of Singapore (ISAS-NUS)

Singapore Sri Lanka economic relations – a look at the trends and barriers to trade

Economic Aspects of India’s North-East: Opportunities for Trade through Greater Connectivity

South Asia Watch on Trade, Economics and Environment (SAWTEE)

Trade Insight: Investment Cooperation for Deeper Economic Integration in South Asia

Centre for Strategic and International Studies (CSIS)

Services Sector Development in Indonesia and the Implementation of AEC Measures in Services

Trade in Goods under the AEC - A New Map of Competitiveness for Indonesia

Economic Research Institute for Asean and East Asia (ERIA)

Financial Reforms in Myanmar and Japan's Engagement

Harmonization of Standards and Mutual Recognition Agreements on Conformity Assessment in Indonesia, Malaysia, Thailand, and Viet Nam

 

The book discusses the potential capital market products/activities which can create closer inter-linkage of the South Asian capital markets and help local/global investors benefit from this economic opportunity. While some ideas may be implementable now; others have future promise as the regional markets further mature. The book demonstrates both retail and institutional investor interest in this combined high-growth region by offering scope for yield, diversification and risk mitigation, maximized upside from multiple growth markets, minimized downside through low-correlation constituents, and more. The book's core theme addresses the challenges towards deepening the awareness and acceptability of regional economies. Only when this happens will the asset flows increase into the regional market products, providing scale-up that will aid viability for these products.

The report is the outcome of the Working Group on Trade, Investment, and Climate Policy convened by Boston University’s GEGI and Georgetown University Law Center’s Harrison Institute for Public Law in April 2016, a group of trade policy experts and climate policy experts from China, North America, and Europe. The Pardee Center provided support for the working group and produced this report.

The report provides timely insights about the alignment of climate and trade policy as the Paris Agreement enters into force and the next round of UN climate talks take place in Marrakech from November 7-18. The authors explore opportunities and barriers for alignment of the Paris Agreement’s global climate commitments with trade agreements under negotiation in 2016, such as the Trans-Atlantic Trade and Investment Partnership (TTIP), the Trans-Pacific Partnership (TPP), and bilateral investment treaties (BITs) between the U.S. and China, and between the U.S. and India.

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The ARTNeT Secretariat welcomes submissions of policy briefs, working papers, book reports, research reports, and book reviews by ARTNeT members, partners and collaborators. For any submission to be considered, the editorial 'Guidelines for Submissions to the ARTNeT Working Papers Series' must be adhered to.

If you are an ARTNeT member, partner or collaborator and would like to publicise your publications, research or events in the next newsletter, please e-mail us at artnetontrade@un.org.