Article
2022
·
0 citations
The Effects of Trade Wars on World Welfare
Abstract
In this study, the effect of the trade wars between the USA and China on the countries' economies was investigated. The European Union, a global economic power, is also involved in the study. The relationship between countries' foreign trade, trade volumes, and world GDP has been examined with six different hypotheses. For this purpose, Granger and Toda-Yamamoto causality test and Johansen cointegration analysis were used. Evidence has been obtained that there is a causal relationship between the foreign trade of countries and the World GDP. Another finding is a long-term relationship between the foreign trade of countries and world GDP. As a result, it has been determined that trade wars negatively affect countries' welfare.
Keywords
Economic Growth
Foreign Trade
Trade Wars
Level of Welfare
AUTOREGRESSIVE TIME-SERIES
ENERGY-CONSUMPTION
GRANGER CAUSALITY
ECONOMIC-GROWTH
ACCESSION
DYNAMICS
WoS Categories
Economics
Sustainable Development Goals
Citation
- Journal
- INTERNATIONAL JOURNAL OF CONTEMPORARY ECONOMICS AND ADMINISTRATIVE SCIENCES
- Year
- 2022
- Volume
- 12
- Issue
- 1
- Pages
- 460-482
- ISSN
- 1925-4423
- DOI
- 10.5281/zenodo.7087849
- WoS UID
- WOS:000862127400006