Is Trade in COVID-19 Products in ASEAN Economies a Building or Stumbling Block?

Uttama, Nathapornpan Piyaareekul

doi:10.11130/jei.2021.36.1.46

Cited by 4 publications

(6 citation statements)

References 28 publications

(40 reference statements)

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“…Meanwhile, Ugurlu and Jindřichovská [2022] identified robust trade relationships with major European economies, and Georgopoulos [2020] noted the continued effectiveness of the European single market in agri-food trade among member states. Uttama [2021] established positive and substantial trade in COVID-19 related products within ASEAN economies, attributed to their productive and absorptive capacities, as well as their similar size and per capita income. Khorana et al 18 explored trade effects in the CIS, revealing comparatively stronger trade relations for higher-income countries.…”

Section: Conceptual Frameworkmentioning

confidence: 99%

Exploring Regional Integration Resilience in the Context of COVID-19

Arapova

2024

Meždunarodnye processy

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The COVID-19 crisis has disrupted traditional trade connections, significantly altering the global trade landscape. This served as a crucial stress test for international trade and regional integration blocs, challenging trade regionalization. Given these new challenges, we propose the concept of regional integration resilience, defined as the capacity of an integration bloc to mitigate the adverse impact of the pandemic on intraregional trade and minimize the immediate reduction of trade within that bloc. With the fortification of supply chains and greater economic interconnection within the integrating economies, our hypothesis is that regional economic integration could serve as a buffer against the negative consequences of the COVID-19 pandemic. Specifically, we have utilized fixed-effects instrumental variable regression applied to the augmented gravity model to analyze quarterly observations from January 2018 to December 2020. To gauge the influence of being in a trade bloc during the COVID-19 crisis, we introduced interaction terms (participation in a regional trade agreement and COVID-19 parameters) into the model. The findings suggest that the pandemic markedly and adversely impacted bilateral trade. Interestingly, the weight of the COVID-19 pandemic had a more pronounced effect on trade flows compared to its severity. Despite the anticipated positive effects of regional integration on intraregional trade due to its static and dynamic effects, overall, we did not observe any stabilizing influence of regional economic integration. There was no evidence that regional integration contributed to alleviating the negative effects on trade during a pandemic or fostering higher trade resilience within regional trade agreements. However, the impact of regional trade integration may vary across different integration blocs. Among the six integration blocs analyzed, two demonstrated a significant positive influence on trade during the pandemic -the European Union and the United States-Mexico-Canada Agreement (formerly the North American Free Trade Agreement).

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Section: Conceptual Frameworkmentioning

confidence: 99%

Exploring Regional Integration Resilience in the Context of COVID-19

Arapova

2024

Meždunarodnye processy

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Section: Empirical Understandingsmentioning

confidence: 99%

“…The outcomes of a case study on bilateral trade in COVID-19 products by Uttama (2021) revealed that the ASEAN trading bloc is a deterrent to the rules-centred multilateral trading system of the World Trade Organization (WTO). The results of Uttama (2021) suggest that the productive competence of the home country, the absorptive capability of the host country, the similarity in member size and per capita income and the degree of remoteness of member countries have positive and significant relationships with trade in COVID-19 products within the Association of Southeast Asian Nations (ASEAN). In terms of COVID-19 vaccine production and distribution, Sorescu et al (2021) acknowledged the strength of trade as a mechanism of distributing COVID-19 vaccines and called for the preservation of market openness through diminishing tariffs, rationalising trade-related procedures at and prior to points of entry while simultaneously necessitating enhanced management of logistical processes.…”

Section: Empirical Understandingsmentioning

confidence: 99%

Investigating the effect of COVID-19 on intra-COMESA trade

Mhonyera,

Masunda,

Meyer

2024

Acta Commercii

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The outbreak of the coronavirus diease 2019 (COVID-19) pandemic directly and indirectly disrupted global production, consumption, and trade patterns. Regional blocs were not an exception. Research purpose:The article aims to investigate the effects of COVID-19 pandemic on regional trade, with a specific focus on the Common Market for Eastern and Southern Africa (COMESA) regional trading bloc.Motivation for the study: The outbreak of the COVID-19 pandemic generated remarkable economic adjustments with severe penalties affecting diverse communities and people globally. As such, regional communities such as COMESA were not an exception. However, relatively little is known about the effects of this pandemic on international trade within particular regional economic communities, and more specifically in the COMESA region.Research design, approach and method: By employing a cross-sectional type gravity model and utilising the Poisson pseudo-maximum likelihood (PPML) method, the article explored trade data for 14 COMESA member states and explicitly regressed intra-COMESA trade values on various measures of the severity of COVID-19 in 2020. The article further assessed the impact of COVID-19 in the COMESA region within the framework of the traditional gravity model variables. Main findings:The findings of this article confirm significant negative effects of COVID-19 cases and lockdown measures on intra-COMESA trade in the exporting country. In the importing country, the effect of COVID-19 on intra-COMESA trade was found to be insignificant regardless of the quantifying measure.Practical/managerial implications: It is recommended in this article that the COMESA regional bloc and the African continent, in general, should expand their respective pharmaceutical production and research and development capacity to be able to respond and advance their future inoculation drives intended to restrain the trade-related impacts of communicable diseases of the COVID-19 nature.Contribution/value-add: This article contributes to the COVID-19 epidemic knowledge base and the existing international trade COVID-19 nexus by enhancing the understanding of the impact of global health shocks on economic outcomes from developing countries perspective. It further presents new empirical evidence that can be utilised as a springboard for policymakers in COMESA to formulate future regional response mechanisms to health crisis of the COVID-19 form.

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“…Hölscher et al (2010) also studied the competitiveness between India and China in relation to international trade. The study also examines how regional economic integration influences trade in COVID-19 products, and it identifies a range of factors that are crucial for positive trade between the two countries (Uttama, 2021). Khan and Ahmad (2017) analysed the export pattern and competitiveness of India-China in global and bilateral market.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Merchandise and Service Trade Deviations During COVID-19: A Performance Comparison Between India and China

Shrivastava

Sharma

2021

FIIB Business Review

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The current study compares trade performance between India and China during COVID period (January–December 2020). The merchandise trade and commercial service exports and imports from both countries were obtained from the official World Trade Organization website to compare the output (deviation of actual from projected during COVID-19) of India and China’s foreign trade with the rest of the world. The present study employs models of autoregressive integrated moving average using a three-step model creation process. As per the results obtained, we can conclude that India is behind China in achieving the amount of merchandise exports and imports in relation to the output of its previous years, while China’s variance between expected and real is relatively lower. When comparing service exports and imports, it can be found that the gap between service exports is not much, but in the case of service imports, China’s deviation from India is much greater.

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Is Trade in COVID-19 Products in ASEAN Economies a Building or Stumbling Block?

Cited by 4 publications

References 28 publications

Exploring Regional Integration Resilience in the Context of COVID-19

Exploring Regional Integration Resilience in the Context of COVID-19

Investigating the effect of COVID-19 on intra-COMESA trade

Merchandise and Service Trade Deviations During COVID-19: A Performance Comparison Between India and China

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