Trade Relations Within and Between the Various Emerging Markets of Asia, Latin America, and Africa: How Globalization Affects Emerging Markets

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Author(s): Bistra Vassileva (University of Economics, Varna, Bulgaria)
Copyright: 2018
Pages: 27
Source title: Establishing Food Security and Alternatives to International Trade in Emerging Economies
Source Author(s)/Editor(s): Vasily Erokhin (Harbin Engineering University, China)
DOI: 10.4018/978-1-5225-2733-6.ch001

Keywords: Agricultural & Food Technologies / Business Science Reference / Environment & Agriculture / Public and Sector Management

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Abstract

This chapter presents the main issues around globalization and its effect on trade relations of emerging markets. Based on extensive literature review the basic globalization trends with corresponding factors are revealed. The author's proposition states that globalization trends (including political, economic, and social globalization) affect trade relations between and within emerging markets. The analysis covers BRIC and CIVETS countries for the period from 1971 to 2013 (based on KOF Index of Globalization) and from 1960 to 2015 for the exports/imports flows. Several statements and propositions regarding trade relations between and within emerging markets are defined. The proposed implications for future research are focused on: exploring emerging markets as a system which variations can be modeled by stochastic processes, and applying network theory to explore the influences of trade liberalizations and gravitational effects of various regional trade agreements on the economic performance of major emerging markets.

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Trade Relations Within and Between the Various Emerging Markets of Asia, Latin America, and Africa: How Globalization Affects Emerging Markets

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