International economics and natural resources: from theory to policy

In the last two centuries, international trade and technical progress have been crucial drivers of economic development. However, the functioning of modern economies still hinges on the use of natural resources like fossil fuels and minerals. Since the supplies of these resources are very unevenly distributed among countries, resource trade has become an important part of globalization. In particular, many industrialized economies heavily depend on imports from resource-rich countries. The dominance of natural resource extraction in certain national economies creates specific risks and opportunities for development and competitiveness.

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Domestic and Foreign Direct Investment in Ghanaian Agriculture

The paper seeks to investigate the effects of foreign direct investment into agriculture on domestic investment in agriculture.

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Protecting financial investment: agriculture insurance in Ghana

This paper shows that there has been considerable effort from the German Development Cooperation, the Ghana National Insurance Commission and government ministries and agencies, the Insurance sector in Ghana and stakeholder institutions leading to the creation of an agricultural insurance provider in Ghana. It is, however, evident from the results that the system is facing major challenges resulting primarily from the inability of the state to provide the needed policy and regulatory support that will assist the insurance sector in the development and delivery of the agricultural insurance products.

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Maine Agriculture and Food Systems in the Transatlantic Trade and Investment Partnership

The negotiations for the Transatlantic Trade and Investment Partnership (TTIP) began with a series of bold assertions that it would serve to jump start the two ailing economies, resulting in rising economic growth and job creation on both sides of the Atlantic. Tariffs are already quite low. The bigger challenge—and the real target—is the very different approaches to regulation. Past experiences with free trade, such as those under the North American Free Trade Agreement, give reasons for concern. It is impossible to accurately predict the real impacts of changes in tariff and non-tariff barriers on specific sectors of agricultural production in Maine. The bigger question may be how the changes that could result from TTIP would affect the state’s food sovereignty, i.e., farmers’ efforts to produce sustainable crops at fair prices, consumers’ demands for healthy and affordable foods, and their joint efforts to support local economies.

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Bilateral tariff rates in international trade

In this paper, we examined back-and-forth international transactions through tariff reduction by estimating modified gravity equations for finished goods and intermediate goods separately. Our main findings are as follows. Exports of finished machinery products are negatively associated with not only the importer’s tariff rates on finished machinery products but also the exporter’s tariff rates on machinery parts. Similarly, exports of machinery parts are negatively associated with not only the importer’s tariff rates on machinery parts but also the exporter’s tariff rates on finished machinery products. These results imply that tariff reduction in only one production process in an industry has the potential to drastically change the magnitude of trade in the whole industry.

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