In:
The Pakistan Development Review, Pakistan Institute of Development Economics (PIDE), Vol. 55, No. 4I-II ( 2016-12-01), p. 725-740
Abstract:
Earlier researchers have been working to relate globalisation,
trade or free trade as an instrument for bringing peace and reducing conflict in the world. But this study attempts to open up a new debate
that how social unrest in terms of lack of pace in nations leads to failure of economic policing and outcomes. In past, few researchers have
tried to show peaceful environment as a generator for economic progress by building theoretical models, but limited empirical analysis has been
conducted so far. This brings a novelty in the present study that for
the first time a large set of data covering 155 nations has been used to explore the relationship between these two desired variables i.e. trade
related variables and peace, in new direction and employing new indicators defining extent of peace in nations. Panel co-integration
technique has been applied along with Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) models to know
the parametric and non-parametric point estimates of variables. Data has been extracted from Economic Institute of Peace and World Bank for the
time period 2008-2014. Results showed that lesser number of attacks are associated with more volume of trade among nations and better relations
with neighbouring countries are linked positively with trade performance of nations. Nations involved more into hostility acts like conflicts are
unable to maximise the benefits from bilateral trade. JEL Classification: F10, D74, L33, C23. Keywords: Globalisation, Trade,
Conflict, Terrorism, Panel Model
Type of Medium:
Online Resource
ISSN:
0030-9729
DOI:
10.30541/v55i4I-IIpp.725-740
Language:
Unknown
Publisher:
Pakistan Institute of Development Economics (PIDE)
Publication Date:
2016
detail.hit.zdb_id:
2509682-5
SSG:
6,24
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