Global Trade and Economic Crisis

Abstract

Governments and corporations with the obstinacy to operate on a global scale can engage in international trade. Even today's global economy relies on the interdependence between nations. The South Asian region's connectivity can only be improved by enhancing intra-regional commerce. The present study is based on the global trade and economic crisis from the perspective of SAARC nations. In the current study, an effort has been made to examine the export, import, economic growth, and links between global trades for SAARC nations from 1990 to 2021. The analysis's findings suggest that the GDP, imports, and exports are growing in a cyclical pattern. The Granger causality result suggests that there are unidirectional and bidirectional causal relationships between world trade and country GDP development as well as within nations in the case of GDP growth. Therefore, the authors draw the conclusion that the key cause of the economic crisis in SAARC nations is global trade.

Dynamic capabilities and competitiveness: Relationship among industrial policy, structural transformation, and economic growth in Indonesian regional industries

“…Asian economies have used industrial Policy for economic transformation (Ahmad et al, 2019)-effective industrial policies promoting industrial growth amid structural transformation (Khouroh et al, 2020). Gupta (2022) has collectively established a comprehensive understanding of how structural transformations drive the development and effectiveness of industrial Policy, highlighting its critical role in enhancing regional competitiveness and economic growth in emerging economies like Indonesia. An essential and effective policymaking and strategic economic planning in the Indonesian context offers valuable lessons for other emerging economies navigating similar development paths.…”