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BEYOND CONVENTIONAL TRADE: TRADE OPENNESS IMPLICATIONS OF TRADE IN VALUE ADDED
The Singapore Economic Review ( IF 1.5 ) Pub Date : 2020-09-10 , DOI: 10.1142/s0217590820490053
HALIT YANIKKAYA 1 , ABDULLAH ALTUN 2
Affiliation  

This study compares the impacts of gross trade openness measures with trade openness in value-added measures on economic growth for the years 1995–2014 by employing a dynamic panel data estimation. Our findings suggest that although gross trade shares promote growth, using value-added trade shares magnifies this positive effect. Compared with gross terms, estimates also imply that while exports in value-added terms have much larger growth effect, imports in value-added terms have no significant impact. We then evaluate the impacts of tariffs on growth in terms of gross trade and trade in value added separately. Although our results imply the negative growth effects of gross import tariffs, this negative impact disappears for tariffs in value-added terms. These results reaffirm that trade protectionism has potential to lower global growth through reducing exports because it is clear that export shares regardless of their measurements and disaggregation levels promote growth. Our results indicate that countries should support not only exports of final products but also exports of intermediates. However, given the necessity of imports for exports, our results do not lend any evidence to discourage overall imports.

中文翻译:

超越传统贸易:贸易开放对贸易增值的影响

本研究通过采用动态面板数据估计,比较了 1995 年至 2014 年期间贸易开放总量措施和增值措施贸易开放对经济增长的影响。我们的研究结果表明,尽管总贸易份额促进增长,但使用增值贸易份额会放大这种积极影响。与总额相比,估计值还意味着,虽然以增加值计算的出口对增长的影响要大得多,但以增加值计算的进口没有显着影响。然后,我们分别从贸易总额和增加值贸易的角度评估关税对增长的影响。尽管我们的结果暗示了进口关税总额的负面增长效应,但这种负面影响在关税的增值条款中消失了。这些结果再次证实,贸易保护主义有可能通过减少出口来降低全球增长,因为很明显,无论其衡量标准和分类水平如何,出口份额都会促进增长。我们的结果表明,各国不仅应该支持最终产品的出口,还应该支持中间体的出口。然而,鉴于出口的进口必要性,我们的结果并没有提供任何证据来阻止整体进口。
更新日期:2020-09-10
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