Premium Essay

Gravity Model at Gcc

In:

Submitted By aakashsojitra
Words 5812
Pages 24
Journal of Economic Integration
23(1), March 2008; 42-56

The Trade Potential of the Arab Gulf Cooperation
Countries (GCC): A Gravity Model Approach
Dr. Houcine Boughanmi
Sultan Qaboos University

Abstract
The GCC region has recently witnessed the creation of a customs union between the countries of the region as well as the signature of many free trade areas with countries/blocs outside the region (i.e. US and EU). The purpose of this paper is to investigate the potential of trade of the GCC countries within the context of the old and the emerging preference trade arrangements in the region of Middle East and North African Countries (MENA). A gravity trade model was estimated based on pooled time series-cross-sectional data of bilateral trade of the MENA countries with their major trading partners. The results indicate that in spite of the fact that the share of GCC intra-trade is too small in absolute terms, it is actually higher than expected on the basis of underlying trade determinants. However the level of the GCC intra-trade has not changed significantly over the years and had probably reached its full potential during the first decade of the GCC creation.
Trade with the Mashreq countries are more than expected, while it is less than expected with the Maghreb countries despite the implementation of the GAFTA a decade ago. The GCC trade with the European Union and the US was found to be quite intensive although no formal trade arrangement existed between the GCC and both blocs for the time-period used in the analysis. The results suggest that the newly signed trade arrangements are promising in enhancing new opportunities of trade in the GCC region.

*Corresponding address: Dr. Houcine Boughanmi, Associate Professor, Sultan Qaboos University
College of Agricultural and Marine Sciences, Department of Agricultural Economics and Rural
Studies, PO Box:34 Al Khod

Similar Documents

Premium Essay

Essay on International Trade and Fdi

...administrator of DigitalCommons@University of Nebraska - Lincoln. ESSAYS ON INTERNATIONAL TRADE AND FOREIGN DIRECT INVESTMENT by Wanasin Sattayanuwat A DISSERTATION Presented to the faculty of The Graduate College at the University of Nebraska In Partial Fulfillment of Requirements For the Degree of Doctor of Philosophy Major: Economics Under the Supervision of Professor Craig R MacPhee Lincoln, Nebraska February 2011 ESSAYS ON INTERNATIONAL TRADE AND FOREIGN DIRECT INVESTMENT Wanasin Sattayanuwat, Ph.D. University of Nebraska, February 2011 Advisor: Professor Craig R MacPhee This dissertation comprises three separate essays on international trade and foreign direct investment. We present the gravity model with Poisson pseudo-maximum likelihood (PPML) estimation to investigate the effect of transportation costs on trade, the effect of RTAs on intraand extra-regional trade in developing...

Words: 9587 - Pages: 39

Free Essay

Persuasive Messages

...Perspective Karim Sabbagh David Tusa Mohamad Mourad Amr Goussous Telecom in the Middle East The Competitive Mandate After the Downturn Contact Information Beirut Mohamad Mourad Principal +961-1-985-655 mohamad.mourad@booz.com Dubai Karim Sabbagh Partner +971-4-390-0260 karim.sabbagh@booz.com David Tusa Principal +971-4-390-0260 david.tusa@booz.com Amr Goussous Senior Associate +971-4-390-0260 amr.goussous@booz.com Booz & Company EXECUTIVE SUMMARY In 2010, as the recession begins to lift in earnest, telecom operators in the Middle East will face a very different world. New business models, new strategies, new technologies, stronger competitors, more demanding customers—all will pose real challenges. The winners will be those with the vision and agility to respond quickly and flexibly to rapidly changing market conditions, developing the capabilities needed to respond to four strategic imperatives: 1. The Middle East and surrounding emerging markets are continuing to grow, and the region’s operators must reestablish the momentum they had before the recession if they are to capture their fair share of that growth. In developed markets, they must develop new value-added services that can differentiate them from competitors. In emerging markets, they must continue to gain share as quickly as possible. 2. As large sections of the telecom value chain become commoditized, operators must work to derive value through innovation. Simply copying competitors’ services...

Words: 5623 - Pages: 23

Free Essay

Inc1 C451 Comprehensive Study Notes

...How is the scientific method used to solve problems? Scientific method used to solve problems by keen observations, rational analysis, and experimentation. Observation: Closely observe the physical world around you. How is the scientific method used to solve problems? Scientific method used to solve problems by keen observations, rational analysis, and experimentation. Observation: Closely observe the physical world around you. Question: Recognize a question or a problem. Hypothesis: An educated guess or a reasonable explanation. When the hypothesis can be tested by experiment, it qualifies as a scientific hypothesis Prediction: Consequences that can be observed if the hypothesis is correct. The consequences should be absent if the hypothesis is not correct. Conclusion: Formulate the simplest general rule that organizes the hypothesis, predicted effects, and experimental findings. What is the principle of falsifiability? For a hypothesis to be considered scientific it must be testable?it must, in principle, be capable of being proven wrong. Fact: A phenomenon about which competent observers can agree. Theory: A synthesis of a large body of information that encompasses well-tested hypotheses about certain aspects of the natural world. Law: A general hypothesis or statement about the relationship of natural quantities that has been tested over and over again and has not been contradicted. Also known as a principle. Evidence: which...

Words: 33649 - Pages: 135

Premium Essay

Islamic Banking

...ABSTRACT In the straitjacket world of Indian banking, something as fascinating as Islamic banking is a distant dream. Nonetheless, countless advocates of Islamic banking have been trying their best over the years to propagate the concept .India has 14 percent Muslims population which is more than the Muslim population of Bangladesh, turkey, Egypt, Iran, Nigeria, Afghanistan, Sudan, Iraq, Saudi Arabia etc But there is no any full-fledged Islamic bank currently working in this country. Reserve Bank of India and other legal institutions of India are not issuing license to banks to work as per the principles of Islamic banking. Necessary measures are, however, being taken by India Government for the same. The present study is taken to explain how Islamic banking is better for India and weather it is possible to integrate Islamic banking to current financial system. It also explains how Islamic bank can commence in India by suggesting necessary measure for the same 1 INTRODUCTION Islamic banking has been defined as banking in consonance with the ethos and value system of Islam and governed, in addition to the conventional good governance and risk management rules, by the principles laid down by Islamic Shariah. Interest free banking is a narrow concept denoting a number of banking instruments or operations, which avoid interest. Islamic banking, the more general term is expected not only to avoid interest-based transactions, prohibited in the Islamic Shariah, but also to...

Words: 6495 - Pages: 26

Free Essay

Led 8x8x8

...Home Sign Up! Browse Community Submit All Art Craft Food Games Green Home Kids Life Music Offbeat Outdoors Pets Photo Ride Science Tech LED Cube 8x8x8 by chr on November 16, 2010 Table of Contents LED Cube 8x8x8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Intro: LED Cube 8x8x8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Step 1: Skills required . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Step 2: Component list . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . File Downloads . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Step 3: Ordering components . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....

Words: 21520 - Pages: 87

Free Essay

Impact of Industrial Policy

...ECONOMIC AND SOCIAL COMMISSION FOR WESTERN ASIA (ESCWA) IMPACT OF INDUSTRIAL POLICIES ON THE COMPETITIVENESS OF SMALL AND MEDIUM-SIZED ENTERPRISES United Nations Distr. GENERAL E/ESCWA/SDPD/2007/7 11 December 2007 ORIGINAL: ENGLISH ECONOMIC AND SOCIAL COMMISSION FOR WESTERN ASIA (ESCWA) IMPACT OF INDUSTRIAL POLICIES ON THE COMPETITIVENESS OF SMALL AND MEDIUM-SIZED ENTERPRISES United Nations New York, 2007 The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries. Mention of firm names and commercial products does not imply the endorsement of the United Nations. References have, wherever possible, been verified. Symbols of United Nations documents are composed of capital letters combined with figures. Mention of such a symbol indicates a reference to a United Nations document. 07-0488 Preface This study has been prepared by the secretariat of the Economic and Social Commission for Western Asia (ESCWA) as part of its regular programme of work for the 2006-2007 biennium. The study draws upon work that ESCWA is implementing within the framework of harnessing technology and enterprise development for the improved productivity of small and medium-sized enterprises, with a view to...

Words: 41252 - Pages: 166

Premium Essay

Google

...Deardorff's Glossary of International Economics - A - Above the line |In balance of payments[->0] accounting, this refers to those transactions that are included in calculating the balance of payments surplus[->1] or deficit. Transactions below the line, typically official reserve transactions[->2] and sometimes short term capital flows[->3], are not included. | Absolute advantage |The ability to produce a good at lower cost, in terms of real resources, than another country. In a Ricardian model[->4], cost is in terms of only labor. Absolute advantage is neither necessary nor sufficient for a country to export a good. See comparative advantage[->5]. | Absolute advantage trade policy |The idea, advocated by opponents of globalization[->6], that a country should import only goods in which other countries have an absolute advantage[->7], particularly goods that the importing country cannot (or cannot "reasonably") produce itself. | Absolute Purchasing Power Parity |See purchasing power parity[->8]. | Absorption |Total demand for final goods and services by all residents (consumers, producers, and government) of a country (as opposed to total demand for that country's output). The term was introduced as part of the Absorption Approach[->9]. | Absorption approach |A way of understanding the determinants of the balance of trade, noting that it is equal to income minus absorption. Due to Alexander (1952)[->10] | Abundant |Available in large supply. Usually meaningful...

Words: 122814 - Pages: 492

Premium Essay

Myypaper

...Salvatore fdedi.tex V2 - 11/10/2012 9:37 A.M. Page iv International Economics Eleventh Edition Dominick Salvatore Fordham University VICE PRESIDENT & EXECUTIVE PUBLISHER EXECUTIVE EDITOR OPERATIONS MANAGER CONTENT EDITOR SENIOR EDITORIAL ASSISTANT CONTENT MANAGER SENIOR PRODUCTION EDITOR ASSOCIATE DIRECTOR OF MARKETING MARKETING MANAGER LEAD PRODUCT DESIGNER SENIOR MEDIA SPECIALIST DESIGN DIRECTOR SENIOR DESIGNER COVER PHOTO CREDIT George Hoffman Joel Hollenbeck Yana Mermel Jennifer Manias Erica Horowitz Lucille Buonocore Sujin Hong Amy Scholz Jesse Cruz Allison Morris Elena Santa Maria Harry Nolan Madelyn Lesure ©lightkey/iStockphoto This book was set in 10/12 Times Roman by Laserwords and printed and bound by R. R. Donnelley-JC. The cover was printed by R. R. Donnelley-JC. Copyright © 2013, 2010, 2007, 2004 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to...

Words: 236413 - Pages: 946

Premium Essay

Unit 5 Bio Notes

...A2 Biology Unit 5 page 1 AQA A2 Biology Unit 5 Contents Specification Human Nervous system Nerve Cells The Nerve Impulse Synapses Receptors Muscle Animal Responses Control of Heart Rate The Hormone System Homeostasis Temperature Homeostasis Blood Glucose Homeostasis Control of Mammalian Oestrus Plant Responses The Genetic Code Protein Synthesis Gene Mutations Stem Cells Control of Gene Expression Biotechnology DNA sequencing Southern Blot In vivo cloning Genetically Modified Organisms Gene Therapy Genetic Screening and Counselling 2 4 6 0 14 17 24 28 30 33 34 38 42 44 48 50 54 57 63 66 71 76 80 85 89 92 Molecular Genetics These notes may be used freely by A level biology students and teachers, and they may be copied and edited. Please do not use these materials for commercial purposes. I would be interested to hear of any comments and corrections. Neil C Millar (nmillar@ntlworld.co.uk) Head of Biology, Heckmondwike Grammar School High Street, Heckmondwike, WF16 0AH Jan 2010 HGS Biology A-level notes NCM 8/09 A2 Biology Unit 5 page 2 Biology Unit 5 Specification Control Systems Organisms increase their chance of survival by responding to changes in their environment. The Nerve Impulse The structure of a myelinated motor neurone. The establishment of a resting potential in terms of differential membrane permeability, electrochemical gradients and the movement of sodium and potassium ions. Changes in membrane permeability lead to depolarisation and the...

Words: 26586 - Pages: 107

Premium Essay

World Report

...U N I T E D N AT I O N S C O N F E R E N C E O N T R A D E A N D D E V E L O P M E N T WORLD INVESTMENT REPORT 2011 NON-EQUITY MODES OF INTERNATIONAL PRODUCTION AND DEVELOPMENT U N I T E D N AT I O N S C O N F E R E N C E O N T R A D E A N D D E V E L O P M E N T WORLD INVESTMENT REPORT 2011 NON-EQUITY MODES OF INTERNATIONAL PRODUCTION AND DEVELOPMENT New York and Geneva, 2011 ii World Investment Report 2011: Non-Equity Modes of International Production and Development NOTE The Division on Investment and Enterprise of UNCTAD is a global centre of excellence, dealing with issues related to investment and enterprise development in the United Nations System. It builds on three and a half decades of experience and international expertise in research and policy analysis, intergovernmental consensus-building, and provides technical assistance to developing countries. The terms country/economy as used in this Report also refer, as appropriate, to territories or areas; the designations employed and the presentation of the material do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. In addition, the designations of country groups are intended solely for statistical or analytical convenience and do not necessarily express a judgment about the stage...

Words: 156270 - Pages: 626

Premium Essay

Free Paper

...photocopying, recording or otherwise without the prior permission of the copyright owner. Copyright rests with the individual authors. ISBN 978-1-921760-45-7 Foreword The conference reflected lessons learnt and being learned from the global financial crisis, from the climate change prognosis and from rethinking global governance. The conference preceded the Asia-Pacific Economic Cooperation (APEC) 2010 Meetings and Summit (7-14 November in Yokohama, Japan) and coincided with the 10th anniversary of the United Nations (UN) Global Compact, and the UN Year of Biodiversity. Given the birth of the G20 group of nations, the inexorable diffusion of economic power to the Asia Pacific region, and the rise of new organisational forms and business models, the conference was particularly timely and relevant. Speakers from various organisations took part in the conference, including: The Ministry of Economy, Trade and Industry, Japan; Unilever; Ernst and Young; The World Bank; The International Monetary Fund; Sompo...

Words: 32741 - Pages: 131

Free Essay

Computer Vision

...Learning OpenCV Gary Bradski and Adrian Kaehler Beijing · Cambridge · Farnham · Köln · Sebastopol · Taipei · Tokyo Learning OpenCV by Gary Bradski and Adrian Kaehler Copyright © 2008 Gary Bradski and Adrian Kaehler. All rights reserved. Printed in the United States of America. Published by O’Reilly Media, Inc., 1005 Gravenstein Highway North, Sebastopol, CA 95472. O’Reilly books may be purchased for educational, business, or sales promotional use. Online editions are also available for most titles (safari.oreilly.com). For more information, contact our corporate/institutional sales department: (800) 998-9938 or corporate@oreilly.com. Editor: Mike Loukides Production Editor: Rachel Monaghan Production Services: Newgen Publishing and Data Services Cover Designer: Karen Montgomery Interior Designer: David Futato Illustrator: Robert Romano Printing History: September 2008: First Edition. Nutshell Handbook, the Nutshell Handbook logo, and the O’Reilly logo are registered trademarks of O’Reilly Media, Inc. Learning OpenCV, the image of a giant peacock moth, and related trade dress are trademarks of O’Reilly Media, Inc. Many of the designations used by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and O’Reilly Media, Inc. was aware of a trademark claim, the designations have been printed in caps or initial caps. While every precaution has been taken in the preparation of this...

Words: 150684 - Pages: 603

Premium Essay

Dac Test Document

...BRE Building Elements Foundations, basements and external works Performance, diagnosis, maintenance, repair and the avoidance of defects H W Harrison, ISO, Dip Arch, RIBA P M Trotman BRE Garston Watford WD25 9XX Prices for all available BRE publications can be obtained from: CRC Ltd 151 Rosebery Avenue London, EC1R 4GB Tel: 020 7505 6622 Fax: 020 7505 6606 email: crc@construct.emap.co.uk BR 440 ISBN 1 86081 540 5 © Copyright BRE 2002 First published 2002 BRE is committed to providing impartial and authoritative information on all aspects of the built environment for clients, designers, contractors, engineers, manufacturers, occupants, etc. We make every effort to ensure the accuracy and quality of information and guidance when it is first published. However, we can take no responsibility for the subsequent use of this information, nor for any errors or omissions it may contain. Published by Construction Research Communications Ltd by permission of Building Research Establishment Ltd Requests to copy any part of this publication should be made to: CRC Ltd Building Research Establishment Bucknalls Lane Watford, WD25 9XX BRE material is also published quarterly on CD Each CD contains BRE material published in the current year, including reports, specialist reports, and the Professional Development publications: Digests, Good Building Guides, Good Repair Guides and Information Papers. The CD collection gives you the opportunity to build a comprehensive library...

Words: 167696 - Pages: 671

Free Essay

International Business

...International Business- Dr. R. Chandran 1. International Business: Meaning And Scope Interdependency is a natural phenomenon; nations, living beings and companies cannot totally depend on themselves. It is the major driving force for international business. Learning value: This chapter covers the essential aspects, 1. 2. 3. 4. 5. Definition of international business Emergence of developing nations in international business Motives of international business from companies and nations Fundamental differences between Domestic and International business Few successful organizations in Domestic & International business International business: Meaning and Scope In the post independence era, more than half-century Indian entrepreneurs concentrated on domestic operations and a surplus production was exported. The physical movement of goods, called EXPORT cannot represent International business. International business is defined as “any commercial transaction-taking place across the boundary lines of a sovereign entity”. It may take place either between countries or companies or both. Private companies involve themselves in such transactions for revenue, profit and prosperity. If governments are involved, they need to maintain their image, dependency and economic growth. Sometimes economic ties are strengthened through such transactions. These transactions include investments, physical movements of goods and services, transfer of technology and manufacturing. Today every company...

Words: 70922 - Pages: 284

Free Essay

Khoabnamap Study About Religion

...IN CONTEMPORARY SOUTHEAST ASIA ISLAMIC STUDIES AND ISLAMIC EDUCATION i ii IN CONTEMPORARY SOUTHEAST ASIA ISLAMIC STUDIES AND ISLAMIC EDUCATION Editors KAMARUZZAMAN BUSTAMAM-AHMAD PATRICK JORY YAYASAN ILMUWAN iii Perpustakaan Negara Malaysia Cataloguing-In-Publication Data Islamic studies and Islamic education in contemporary Southeast Asia / editors: Kamaruzzaman Bustamam-Ahmad, Patrick Jory ISBN 978-983-44372-3-7 (pbk.) 1. Islamic religious education--Southeast Asia. 2. Islam--Education--Southeast Asia. I. Kamaruzzaman Bustamam-Ahmad. II. Jory, Patrick. 297.77 First Printed 2011 © 2011 Kamaruzzaman Bustamam-Ahmad & Patrick Jory Publisher: Yayasan Ilmuwan D-0-3A, Setiawangsa Business Suites, Taman Setiawangsa, 54200 Kuala Lumpur, Malaysia. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means – for example, electronic, photocopy, recording – without prior written permission of the publisher. The only exception is brief quotations in printed review. The opinions expressed in this publication is the personal views of the authors, and do not necessary reflect the opinion of the publisher. Layout and cover design: Font: Font size: Printer: Hafizuldin bin Satar Goudy Old Style 11 pt Gemilang Press Sdn Bhd iv ACKNOWLEDGEMENTS T his book grew out of a three-day workshop jointly held by the Regional Studies Program, Walailak University, and the Department...

Words: 104903 - Pages: 420