Articles
Journal of Economic Integration (19765525)40(1)pp. 157-179
In recent years, sanctions, the Covid-19 pandemic, and military conflicts among countries, have underscored the significance of economic resilience in the push towards globalization through joint cooperation between countries. This research aims to measure the economic resilience index for the period 2000-2021, with a focus on the countries of the Shanghai Cooperation Organization. Additionally, the study investigates the impact of trade, production capacities, financial development, and the distance between the capital of each country and China's capital on the economic resilience index. The findings indicate that India has the highest average resilience at 63.2, while Pakistan has the lowest at 28.1. The results of fully modified, dynamic and robust ordinary least squares panel show that the economic resilience can be improved through increased production capacity, trade, and financial development. However, it decreases with an increase in the distance of trade. Therefore, international transport corridors should not be taken for granted. © 2025-Center for Economic Integration, Sejong University, All Rights Reserved.
Transitioning to a sustainable economy is essential to achieving the UN's SDGs by 2030. Green financing, a cornerstone of this shift, is influenced by interest rates. This study employs dynamic programming to develop a climate hazard timing model, linking environmental performance to interest rates. Findings suggest monetary authorities should widen the gap between green bond and conventional interest rates during environmental shocks to boost green financing's feasibility. A novel environmental elasticity metric quantifies disparities in interest rates relative to global climate risks. Using fuzzy logic, the study assesses global climate risk (GCR) for 175 countries (2000-2019), identifying Qatar as most and Puerto Rico as least vulnerable. Results show 38.3% of countries face low, 28% moderate, and 33.7% high vulnerability. Recommendations include interest rate adjustments based on climate risk levels, crucial for economic unions like BRICS and the EU. © 2025, IGI Global Scientific Publishing.
Maritime Economics and Logistics (14792931)27(1)pp. 147-182
The India Middle-East Europe Economic Corridor (IMEC) was introduced by US President Joe Biden in September 2023 in India, during the G-20 meeting. By creating commercial connections along the southern border of Eurasia, an expanding, multi-faceted IMEC trade corridor has the potential to alter trade patterns between the Middle East, Europe, and the Indian Ocean region. The project’s goal is to build a railway network that would travel via Saudi Arabia and Jordan to connect the United Arab Emirates with Israel and, from there, through a final sea-leg towards the Mediterranean EU ports, notably Piraeus, with continental Europe. Therefore, it is critical to assess trade potential among IMEC countries while paying attention to this corridor's function. Examining IMEC’s function in promoting international trade among initiative stakeholders while taking the geographic context into account, is the objective of this study. The analysis of IMEC members’ historical trends has been attempted as well. To calculate trade potential, a sophisticated gravity model is developed. Since this shows port connections to the hinterland, the integration of GIS-based network analysis; service area modelling; and road density modelling are also undertaken, in our objective to estimate trade potential. By integrating the gravity model (GM) with Geographic Information Systems (GIS), it becomes feasible to create visual depictions of the trade potential of IMEC to interested parties. We employ metrics like population, GDP, trade volume, road density per square kilometer, and service coverage as inputs to the GM, spanning from 2000 to 2021. Based on the panel data of a gravity model among IMEC members between 2000 to 2021, and using ordinary least squares (OLS) and generalized method of moments (GMM) modelling, our findings indicate that economic improvements in these countries, as well as efforts to decrease distances and improve connectivity among ports, will enhance interaction, as well as the processes of economic, social and political integration amongst them. The corridor also decreases (economic) distances and improves connectivity among ports, enhancing the overall globalization index of a country. Interestingly, we also find that having more than eight official languages has a negative effect on a country’s globalization index. © The Author(s), under exclusive licence to Springer Nature Limited 2024.
