International Conference on Eurasian Economies
9-11 September 2015 – Kazan, RUSSIA
Paper detail
Paper ID : 1374
Status : Paper published
Language : English
Topic : International Trade and Globalization
Presenter: Assoc. Prof. Dr. Mesut Savrul
Session : 5A Trade and Growth
The Effect of Globalization on International Trade: The Black Sea Economic Cooperation Case
The Effect of Globalization on International Trade: The Black Sea Economic Cooperation Case
- Assoc. Prof. Dr. Mesut Savrul (Çanakkale Onsekiz Mart University, Türkiye)
- Prof. Dr. Ahmet İncekara (İstanbul University, Türkiye)
Abstract
Globalization including political, social and economic processes is frequently associated with multinational companies and investment, international trade and regionalism, global finance and money. While globalization process reduced activity and control of national governments on their economy and trade their place is substituted by international companies. The national economies on the other hand try to keep pace with the change in economic system by deregulating their international trade barriers via regional trade agreements and economic integrations. Based on the assumption that the globalization has liberalized their infrastructure of trade, this study investigates the balance of trade in the member countries of The Black Sea Economic Cooperation Organization (BSEC). The data is collected from international trade database of UNCTAD and globalization index of KOF Swiss Economic Institute. The variables are evaluated using panel data analysis and the results have shown that globalization has a significant impact on international trade and the globalization process had a positive effect on the liberalization of trade in the member countries of the BSEC.
JEL codes: F10, F13
Savrul, Mesut, İncekara, Ahmet (2015). "The Effect of Globalization on International Trade: The Black Sea Economic Cooperation Case" in Proceedings of International Conference of Eurasian Economies 2015, pp.88-94, Kazan, RUSSIA.
DOI: https://doi.org/10.36880/C06.01374
