Trade creation and export diversion: Thailand’s plastic and rubber under the ASEAN-China free trade agreement

The advent of globalization has spurred the level of foreign direct investment (FDI), which has increased the employment level and economic growth in countries around the world. This scenario has also been debated in the extant literature. It is on this backdrop that this study was inspired to examine the relationship between FDI and the level of employment in Nigeria. The article uses the Fully Modified Ordinary Least Squares (FMOLS) and the Johansen co-integration econometric approach on the data, which were sourced from the World Development Indicators (WDI) of the World Bank and the Central Bank of Nigeria (CBN) statistical bulletin. The investigation period covered thirty-two years (1985–2017). Also, the authors adopted the theory of absorptive capacity as the baseline for the model. Results obtained from the study showed that foreign direct investment is statistically significant and positively related to the employment level in Nigeria. These findings imply that a 1 unit increase in the inflow of foreign direct investment to the Nigerian economy is capable of increasing the level of employment by about 0.97 units. Therefore, based on findings, the study is concluded by recommendations that the Nigerian economy should become viable through effective trade policies and programs, which are capable of attracting foreign direct investment into the Nigerian economy for employment creation.

Acknowledgment(s)
The publication support received from Covenant University Centre for Research, Innovation and Discovery (CUCRID) is appreciated

The European Union and the Black Sea Economics Cooperation countries are geographical neighbors and important trade partners. Greece, Bulgaria and Romania have a cross-membership in both organizations. The paper analyzes trends and structure of trade relations of the EU and BSEC countries. The EU trade with the 12 BSEC countries is about 640 billion dollars. The BSEC countries with the EU membership or a custom union with the EU have more intra-industry trade with the EU than other BSEC countries. International tourism is an important component of the trade in services between the regions. Following the review of the factors of international tourism demand, a gravity model for tourism arrivals is presented. The model considers demand in the country of origin, international tourism capacities in destination countries and distance. The analysis helps to determine under-traded and competitive destinations in the BSEC countries for the EU travelers. Greece is the most efficient in attracting the EU tourists. Finally, country-specific differences in demand factors are considered.

The paper analyzes the basic mechanisms of forming the system of global production and sale of vegetables. Factors of the impact of international economic integration on the effectiveness of national agrarian sector’s functioning have been listed. Its importance and necessity for a stable economic development of agricultural enterprises have been determined. The paper examines the cooperation between national economies of different countries with the elimination of trade barriers, the convergence of every country’s markets for the purpose of creating a common market. It generalizes and substantiates the relevant directions of regulating the national vegetable market and integrating agricultural enterprises of vegetable growing branch into world vegetable trade turnover.