Global Economy Journal

The main contribution of this research is to provide evidence on the key drivers that shape individual opinions toward multilateralism. In particular, we show that even when people consider that international organizations take away too much power from the governments, this fact is not necessarily seen as a negative aspect. People’s opinions are relevant given that, in the decision-making process, governments should balance several elements and the opinion of voters may be a key driver. The goal of this analysis is to show that there is a robust U-shaped effect in the case of the level of educational attainment.

The reconstruction of Gaza after the latest war between Israel and Hamas creates an opportunity to approach the problem from a purely economic viewpoint. The vision of CEESMENA is to treat internal MENA problems from a purely economic perspective. In that light, the solution to the Gaza problem can be found by focusing narrowly on the investment solution to a failed experiment. This is a common approach that economists address in a post-bankruptcy situation. The Hamas experiment, since Israel’s unilateral withdrawal in 2005, has proven to be a complete failure. It has left Gaza in a devastating bankruptcy. To solve this bankruptcy problem, we suggest an approach based on the classic build–operate–transfer (BOT) framework. The countries that invest in this project will become equity shareholders with a 50-year lease. The civil administrators that will be brought into Gaza will develop an economic model based on the principle of “private provision of public services”. It will also create the common law principles known as the “rule of law” as it is applied to property, contract, criminal and tort law under a market system. The sovereignty of the residents will be addressed only after the 50-year lease arrangement is complete along with the formation of a robust civil administration (e-Government) and common law paradigm referred to as “rule of law” is finalized. A revitalized education system will be instituted based on a reformed UAE, Bahrain and Saudi Arabian curriculum. A computable general equilibrium (CGE) model presented in the paper will be used to track a three-sector Gaza economy (tourism, agriculture and high-tech) and will be implemented to address alternative pathways for the development of this sovereign non-militarized green economy. The approach presented in this paper is a continuation of innovative thinking which was manifest when former President Trump perused the groundbreaking and successful “Abraham Accords” in complete rejection of the outdated and unsuccessful “Washington Consensus”.

India gradually started liberalizing its industrial, trade and foreign direct investment (FDI) related policies since the launch of economic reforms in 1991. The empirical evidence on the impact of FDI spillovers on industrial wages in India has generated mixed results so far. The current study analysed the impact of FDI inflows on the real wage rates of the workers using data from seven major industrial sectors between 2001–2002 to 2019–2020. The two-stage least squares (2SLS) estimation results suggest that FDI inflows positively influenced both the skilled and unskilled wage rates. Moreover, FDI inflows in productive sectors led to a greater rise in wages vis-à-vis the unproductive sectors. In addition, key government policy initiatives like the Make-in-India (MII) scheme and FDI reforms were found to be effectively enhancing wage rates, though the impact on skilled wage rates was greater. The paper stressed the need to create a holistic environment that can attract FDI in both upstream and downstream segments, facilitating India’s deeper participation in global value chains (GVCs) and IPNs on the one hand and realisation of associated dynamic benefits on the other.

The rapid advancement of technology and the increasing accessibility of the Internet are driving changes in various economic activities, including international trade. This study explores the relationship between digital trade and employment across 30 African countries from 2009 to 2020, with a particular focus on the role of digitally delivered services as a proxy for digital trade. Utilizing panel data and employing PCSE and IV-2SLS estimation techniques, the findings reveal that while the expansion of digitally delivered services may contribute to a reduction in formal employment, it also fosters growth in the industrial and services sectors, while exerting downward pressure on employment in agriculture. These results are robust and highlight the sector-specific dynamics of digital trade’s impact on labor markets.

The growth of the nominal Gross Domestic Product (GDP) of national economies is modeled by the logistic function. Applying it on the GDP data of the World Bank till the year 2020, we forecast the outcome of the competitive GDP growth of Japan, Germany, the UK and India, all of whose current GDPs are very close to one another. Fulfilling one of the predictions, the GDP of India overtook the GDP of the UK in 2022. We further forecast that in 2047 the GDP of India will exceed the GDPs of both Japan and Germany. When trade saturates, large and populous countries (like India) have the benefit of high domestic consumption to propel their GDP growth.