A small open economy model which incorporated. the rational expectations - natural rate hypothesis was constructed. The resulting model indicated that to the extent that foreign monetary policies may affect the relative price of domestic to foreign goods, the domestic unemployment rate was not neutral with respect to foreign monetary policies. Using Canada as the small open economy and the United States as the rest of the world, the weak open economy version of the natural rate hypothesis was empirically tested for both the flexible and the fixed exchange rate periods. The empirical methodology employed was the Granger causality test. The results based on the goodness of fit test indicated that for all the exchange rate regimes, the Canadian unemployment rate was rtot Granger caused by any causal variables considered. However, the results based on a comparison of the postsample forecasting performance were different. For the first flexible exchange rate. period, 1953-1962, we found that the Canadian unemployment rate was Granger caused by the foreign price level. However, this result was consistent with the weak open economy version of the natural rate hypothesis. We also found that the foreign unemployment rate Granger caused theCanadianunemployment rate in the second flexible rate period, 1970-1979. But, this did not damage the natural rate hypothesis since the natural rate hypothesis does not preclude real variables from having a systematic effect on the Canadian unemployment rate. The tests for rationality with the Canadian price level equations for both the flexible and the fixed exchange rate periods were inconclusive. First, we were not able to detect a breakpoint in the foreign and domestic money rules. The alternate tests of rationality which examined whether the relevant variables were included in the Canadian price level equations were also inconclusive because of a high degree of multicollinearity between the variables. / Ph. D.

This licentiate thesis examines the development of Swedish–Lebanese trade relations and the changes of significance for Swedish trade towards Lebanon during the period 1920-1965. The aim of the study is to explore how Sweden as representing a small, open Western economy could develop its economic interests in the emerging Middle East market characterised both by promising economic outlooks, and a high degree of political instability during the age of decolonisation, Cold War logic, and intricate commercial and geo-political factors. The study shows that the Swedish trade with Lebanon was very small during the Interwar period. It was neither possible to find any formal Swedish-Lebanese trade agreements before 1945. In the Post-War period, the promotion of Swedish trade and trade policies towards Lebanon witnessed more interests from the both parties. Two categories of explanations were found for the periods of 1946-53 and 1954-65 respectively. In the first period the Swedish-Lebanese trade developed in a traditional direction with manufactured goods being exported from Sweden and agricultural products being exported from Lebanon. Furthermore, there were no trade agreements between the two countries. In the second period, several Lebanese attempts were made to conclude bilateral trade agreement with Sweden in hope to change the traditional trade direction, and to improve the Lebanese balance of trade. Sweden was, however, convinced that Lebanon could never achieve a balanced foreign trade at least not on a bilateral basis. To maintain a fair access to the Lebanese market, the Swedish authorities avoided to conclude any trade agreement with Lebanon. Despite the Lebanese concern on the big trade deficit between the two countries, Sweden managed in increasing the trade volumes to the region of Middle East through the transit link of Lebanon.

Theses (MBA)--Stellenbosch University, 2005. / ENGLISH ABSTRACT: In order to survive in a global economy, developing nations can no longer rely on their own resources if they wish to prosper, they require outside assistance. Various economic policies and strategies have been adopted over the years in order to encourage foreign capital to contribute to the growth of developing nations. One of the most common of these is the concept of an export promotion zone. This is a dedicated area inside the host country where the host tries to lure foreign investors - usually by providing a range of financial and labour concessions. Namibia instituted an export promotion zone in the mid nineties in Walvis Bay but has met with limited success, as indeed have many of the other countries which have tried this approach. Namibia's immediate neighbour - South Africa - reviewed this and other economic zones with the intent of adopting a policy better suited to the needs of foreign capital. The result was the development of an industrial development zone in Coega outside Port Elizabeth. This study contrasts these two concepts in order to ascertain similarities and differences both in terms of their respective legislation and in terms of the World Association of Investment Promotion Agencies ten criteria for a successful investment environment. The conclusion was that these two policy frameworks are different more in name than in substance, with one crucial exception: South Africa has effectively waived most of the tax concessions generally found in this type of area. It is argued that if the South Africa concept does succeed it will probably be more a function of the country's relative economic size in Africa rather than because of policy differences. Beyond that there is little reason to believe that South Africa will meet with any more success than Namibia barring the acquisition of a major anchor tenant to draw other affiliate industries. / AFRIKAANSE OPSOMMING: Ontwikkelende lande het buitelandse bystand nodig om in 'n wêreld ekonomie te bestaan omdat hulle nie meer op hulle eie reserwe bronne kan staat maak nie. Verskeie strategieë en ekonomiese beleidstoepassings is in die verlede aangewend om buitelandse beleggings te lok ten einde by te dra tot die groei van ontwikkelende nasies. 'n Algemene strategie is die daarstelling van 'n uitvoersone waardeur die land probeer om buitelandse beleggers te lok deur die daarstelling van 'n reeks finansiële- en arbeidstoegewings. Namibië het so 'n uitvoersone in die middel negentigs in Walvis Baai tot stand gebring, met min sukses. Verskeie ander lande het ook nie bevredigende resultate met hierdie metode gehad nie. Suid-Afrika, 'n direkte buurland van Namibië, het hierdie ekonomiese sone en soortgelyke implementerings ondersoek met die doel om die beleid aan te pas en te verbeter om sodoende meer buitelandse kapitaal te lok. Die resultaat was die ontwikkeling en totstandkoming van die industriële ontwikkelingsarea in Coega buite Port Elizabeth. In hierdie studie word die twee konsepte met mekaar vergelyk ten einde die ooreenkomste en verskille uit te lig, beide in terme van wetgewing asook in terme van die Wereld Assosiasie van Bellegingsbevorderings Agentskappe se tien kriterieë vir 'n suksesvolle beleggingsomgewing. Die gevolgtrekking was dat die twee beleidsraamwerke baie min verskil, met die uitsondering dat daar min of geen belasting toegewings gemaak word ten opsigte van implementering van hierdie sones in Suid-Afrika nie. Daar word aangevoer dat indien die Suid-Afrikaanse konsep suksesvol is, dit meer waarskyknlik die gevolg sal wees van die land se relatiewe ekonomiese stand in Afrika, as die gevolg van beleidstoepassing. Behalwe hierdie faktor is daar min rede om te glo dat Suid-Afrika meer suksesvol sal wees as Namibië, tensy 'n industrie gevestig kan word wat as hoeksteen van die ontwikkeling kan dien, wat om die beurt ander verwante industrieë kan lok en ontwikkel.

This thesis aims to present and analyse economic relations between Czechoslovakia and Argentina in the years 1945-1989 (i.e. a period that almost precisely coincides with the duration of the Cold War. The work focuses on a historical analysis of primary sources and archival documents of the Czechoslovak Federal Ministries of Foreign Affairs and Foreign Trade. This material was selected in light of the rarity of secondary literature devoted to this area. To a certain extent, this is a pioneering work, especially given the fact that the archives of the Federal Ministry of Foreign Trade have not yet been declassified and still enjoy only limited usage (processing) in a single publication. One primary function of foreign trade with the Latin American countries (with the obvious exception of Cuba) was to foster good relations between South America and Czechoslovakia during the Cold War. The study of this use of trade as a foreign policy instrument can provide useful lessons about pragmatic considerations to be borne in mind when designing foreign policy as a whole. The thesis presents new findings on the topic and attempts what may constitute the most comprehensive attempt to address economic relations between the aforementioned countries within a defined period.

D.Com. (Economics) / Please refer to full text to view abstract

Foreign trade is increasingly becoming a powerful tool when it comes to the promotion of economic growth in modern economies. This is especially so in the face of the continued rise of globalisation. In consideration of this fact, this thesis assessed the impact of foreign trade on the growth process of Namibia’s economy for the period stretching from 1990 to 2012. This main objective was further developed into primary, theoretical and empirical objectives. In order to realise these multiple objectives, two modern econometric time series techniques were employed, namely vector autoregressive (VAR) and auto-regression distributed lag (ARDL) models. Based on these two techniques, the following procedures featured during the study: Stationary tests, error correction modelling, co-integration tests, Granger causality tests, generalised impulse response functions and generalised forecast error variance decomposition. The following constitutes the main findings arising from this study: First, the study found that there is a positive relationship among the variables that were investigated. Indeed, this positive relationship suggests that the economy of Namibia can be expanded potentially by means of foreign trade. The result is also in line with economic theory. Secondly, the empirical findings also show that export, foreign direct investment and exchange rate endogenously respond to shocks in economic growth. Thirdly, economic growth itself accounted for most of the innovations that occurred during the period under consideration concerning economic growth. Fourthly, amongst the three explanatory variables used in the model, exports and foreign direct investment contributed more towards innovations in economic growth during the forecast period. Initially, exports and foreign direct investment dominated over the forecast horizon with each contributing almost an equal share of over 5 percent after 12 quarters. Thereafter, exports’ contribution relatively exceeded that of foreign direct investment. Fifthly, it is particularly important to note that the exchange rate variable made the weakest contribution towards explaining economic growth for the forecast period of 24 quarters. In consideration of the general constraints associated with this study, the thesis puts forward a number of proposals for possible further investigation by any theorist who is keen about probing the issue that the thesis investigated. The thesis considers the following as its significant contributions to the existing literature: First, this study primarily examined the relationship between exports and economic growth. By adding the effect of foreign direct investment and exchange rate to the analysis, this study became more comprehensive. This further widens the scope for policymaking for Namibia, as well as other developing economies on a similar route. Secondly, the study employed two modern econometric time series techniques, namely VAR and ARDL models in investigating the research topic under consideration. Most of the related studies that were reviewed either utilised ordinary least squares (OLS) or VAR or ARDL approach on its own. By implication, the results obtained from this study, therefore, are from a technical point of view more robust. Thirdly, through constructive comments, this thesis made valuable contributions to the relevant empirical literature as reviewed during the course of the study. Fourthly, since this study has a focus on Namibia, it provided the opportunity for the thesis to present a comprehensive analysis on issues pertaining to Namibia specifically. Lastly, the various recommendations put forward by this thesis will assist Namibia, as well as other developing countries, on a related path when it comes to formulating policies for the promotion of exports in particular and economic growth in general. / PhD (Economics)--North-West University, Vaal Triangle Campus, 2015.

Foreign trade is increasingly becoming a powerful tool when it comes to the promotion of economic growth in modern economies. This is especially so in the face of the continued rise of globalisation. In consideration of this fact, this thesis assessed the impact of foreign trade on the growth process of Namibia’s economy for the period stretching from 1990 to 2012. This main objective was further developed into primary, theoretical and empirical objectives. In order to realise these multiple objectives, two modern econometric time series techniques were employed, namely vector autoregressive (VAR) and auto-regression distributed lag (ARDL) models. Based on these two techniques, the following procedures featured during the study: Stationary tests, error correction modelling, co-integration tests, Granger causality tests, generalised impulse response functions and generalised forecast error variance decomposition. The following constitutes the main findings arising from this study: First, the study found that there is a positive relationship among the variables that were investigated. Indeed, this positive relationship suggests that the economy of Namibia can be expanded potentially by means of foreign trade. The result is also in line with economic theory. Secondly, the empirical findings also show that export, foreign direct investment and exchange rate endogenously respond to shocks in economic growth. Thirdly, economic growth itself accounted for most of the innovations that occurred during the period under consideration concerning economic growth. Fourthly, amongst the three explanatory variables used in the model, exports and foreign direct investment contributed more towards innovations in economic growth during the forecast period. Initially, exports and foreign direct investment dominated over the forecast horizon with each contributing almost an equal share of over 5 percent after 12 quarters. Thereafter, exports’ contribution relatively exceeded that of foreign direct investment. Fifthly, it is particularly important to note that the exchange rate variable made the weakest contribution towards explaining economic growth for the forecast period of 24 quarters. In consideration of the general constraints associated with this study, the thesis puts forward a number of proposals for possible further investigation by any theorist who is keen about probing the issue that the thesis investigated. The thesis considers the following as its significant contributions to the existing literature: First, this study primarily examined the relationship between exports and economic growth. By adding the effect of foreign direct investment and exchange rate to the analysis, this study became more comprehensive. This further widens the scope for policymaking for Namibia, as well as other developing economies on a similar route. Secondly, the study employed two modern econometric time series techniques, namely VAR and ARDL models in investigating the research topic under consideration. Most of the related studies that were reviewed either utilised ordinary least squares (OLS) or VAR or ARDL approach on its own. By implication, the results obtained from this study, therefore, are from a technical point of view more robust. Thirdly, through constructive comments, this thesis made valuable contributions to the relevant empirical literature as reviewed during the course of the study. Fourthly, since this study has a focus on Namibia, it provided the opportunity for the thesis to present a comprehensive analysis on issues pertaining to Namibia specifically. Lastly, the various recommendations put forward by this thesis will assist Namibia, as well as other developing countries, on a related path when it comes to formulating policies for the promotion of exports in particular and economic growth in general. / PhD (Economics)--North-West University, Vaal Triangle Campus, 2015.

Thesis (MBA (Business Management))--Stellenbosch University, 2008. / ENGLISH ABSTRACT: In the quest to attract foreign investments which is seen as one way of alleviating poverty by creating employment opportunities and earning foreign currency many countries have implemented the EPZ regime. Though the concept remains the same throughout the world, it has adopted different names depending on the country. In Mexico the EPZ's are called the "Maquiladoras" and in Bulgaria EPZ's are called Free Trade Zones. No matter the differences in names the concept is principally the same: EPZ is an enclave which operates outside the normal economic framework of the country. At independence Namibia faced a high unemployment rate and poverty. In 1995 the Namibian government passed the EPZ Act in order to pave the way for the development of EPZ industrial parks. The need for passing the EPZ Act was necessitated by the acute unemployment rate which the country faced at the time, which had the potential to threaten the political stability the country enjoyed. Thus, amongst other policy instruments, the EPZ Act was passed with the principle objective of attracting the much needed foreign investments which would result in creation of the needed employment opportunities. The government set a very ambitious target for the EPZ regime; it was expected that by 1999 the EPZ regime would have created about 25 000 job opportunities. Thus, the anticipated number of job opportunities was quite frequently used as a justification for the massive investments provided for the development of infrastructures in the EPZ industrial parks and hefty subsidies which were extended to some EPZ companies. It is important to note that unlike other countries who adopted the location-based EPZ model, Namibia has adopted a flexible EPZ model implying that a company which acquires the EPZ status is free to locate or set-up its facility anywhere in the country. In 2003 a Malaysian textile company called Ramatex closed its operations in South Africa and relocated to Namibia. In terms of employment creation the EPZ reached its peak in 2004 when about 10 057 persons / individuals were actively employed in the EPZ companies. Ramatex accounted for about 80% of the total of 10 057 EPZ jobs. Since 2004 the number of jobs in the Namibian EPZ regime started to decline at an alarming rate; at the end of 2007 there were only 5 248 people employed by the EPZ companies. Many times Ramatex threatened to close its operations, citing decline in the demand of its products and low productivity, but after some closed-door negotiations the government initially managed to convince it to continue its operation. Regrettably the success of the Namibian government to convince Ramatex to continue with its operation in Namibia was short-lived, when in the first quarter of 2008; the inevitable closure of Ramatex became a reality. The closure of Ramatex has resulted in the retrenchment of about 3 000 people. The overall performance of the Namibian EPZ regime leaves a lot to be desired. The Namibian EPZ regime so far failed to attract enough investments to create the anticipated job opportunities and to increase the export of manufactured goods. On a positive note, EPZ regime compelled the authority to invest in infrastructures which it might otherwise not have invested in. / AFRIKAANSE OPSOMMING: In die soeke na 'n wyse om buitelandse beleggings te trek as een van die maniere om armoede te verlig deur die skepping van werksgeleenthede en die verkryging van buitelandse valuta, het baie lande die EPZ-regime geimplementeer. Hoewel die konsep dwarsdeur die wereld dieselfde bly, het dit verskillende name in verskillende lande. In Meksiko word dit die UMaquiladoras' genoem en in Bulgarye is dit Vryehandelsones. Ongeag wat dit genoem word , bly die konsep in wese dieselfde: EPZ is 'n enklave wat buite die normale ekonomiese raamwerk van die land opereer. Toe Namibia onafhanklik geword het, het die land gebuk gegaan onder 'n hoe werkloosheidskoers en armoede. In 1995 het die Namibiese regering die Wet op EPZ uitgevaardig om ruimte te skep vir die ontwikkeling van EPZ-nywerheidsparke. Die akute werkloosheidskoers van die land op daardie tydstip het dit noodsaaklik gemaak dat hierdie wet uitgevaardig word, aangesien die werkloosheid potensieel die politieke stabiliteit in die land kon bedreig. As deel van ander politieke instrumente is die Wet op EPZ dus uitgevaardig, met as hoofdoelwit die 10k van broodnodige buitelandse beleggings wat sou lei tot die skepping van die ewe nodige werksgeleenthede. Die regering het 'n baie ambisieuse doelwit vir die EPZregime gestel; dit sou na verwagting teen 1999 nagenoeg 25 000 werksgeleenthede skep. Die verwagte getal werksgeleenthede is dus dikwels gebruik as regverdiging vir die massiewe beleggings wat voorsien is vir die ontwikkeling van die infrastrukture in die EPZ nywerheidsparke asook die groot subsidies toegestaan aan sommige EPZ-maatskappye. Dit is belangrik om daarop te let dat, anders as ander lande waar die EPZ-model plekgebonde was, Namibia 'n buigsame EPZ-model aanvaar het. Dit het geimpliseer dat 'n maatskappy wat EPZ-status verwerf het, sy fasiliteit enige plek in die land kon vestig. 'n Maleisiese tekstielmaatskappy met die naam Ramatex het in 2003 sy bedryf in Suid Afrika toegemaak en na Namibie verhuis. Sover dit die skepping van werksgeleenthede aangaan, het die EPZ in Namibie in 2004 sy hoogtepunt bereik, toe ongeveer 10 057 persone / individue aktief in diens van die EPZ-maatskappye was. Ramatex het ongeveer 80% van die totale 10057 EPZ-werksgeleenthede voorsien. Sedert 2004 het die getal werksgeleenthede in die Namibiese EPZ-regime teen 'n ontstellende koers afgeneem, sodat daar teen die einde van 2007 net 5248 mense in diens van die EPZ-maatskappye was. Ramatex het by verskeie geleenthede gedreig om sy bedrywighede te sluit weens die afname in die vraag na sy produkte en lae produktiwiteit, maar na onderhandelinge agter geslote deure het die regering aanvanklik daarin geslaag om Ramatex te oortuig om voort te gaan. Hierdie sukses van die Namibiese regering was ongelukkig van korte duur, aangesien die onafwendbare sluiting van Ramatex in die eerste kwartaal van 2008 werklikheid geword het. Die gevolg was die afdanking van ongeveer 3 000 mense. Die oorkoepelende prestasie van die Namibiese EPZ-regime is ver van bevredigend. Hierdie regime het tot nou toe nie daarin geslaag om genoeg beleggings te lok om die verwagte werksgeleenthede te skep en die uitvoer van vervaardigde produkte te verhoog nie. Aan die positiewe kant het die EPZ-regime die owerheid gedwing om te bele in infrastrukture waarin hulle andersins nie sou bele het nie.

In October 1999 the European Commission published the second progress report on the state of convergence of the Central- and Eastern European candidate countries (CEECs). The report encompasses an assessment, which is based on the three Copenhagen criteria. From an economic point of view, a country must have a functioning market economy and be able to withstand the competition on the European single market. In this paper we present a synthetic performance measure which helps to assess the economic preparedness of the ten Central and Eastern European Countries (CEECs) to become members of the European Union (EU). With the aid of the Data Envelopment Analysis (DEA) we construct a best practice frontier, which is supported by the best performing EU-countries and which serves as a benchmark for the candidate countries. The preparedness of any CEEC is measured as the relative distance to this frontier. The results confirm that the macroeconomic performance of most of the CEECs lies far behind the EU standards, in foreign trade some of the CEECs already perform better than some EU countries. Interestingly, we find out that some CEECs are already better prepared for the EMU than many EU member states. (authors' abstract) / Series: EI Working Papers / Europainstitut

This thesis analyzes the export policy of the Czech Republic. The aim is to propose recommendations for future direction of the Czech export policy. A comparison with the export policy of Austria is used for these recommendations. The work firstly describes foreign trade and export policy of the Czech Republic and Austria, including the main concepts and institutions. In conclusion, the export policies of both countries are compared, both in terms of their concepts, as well as institutional arrangements and instruments used to implement the state export promotion.