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    <link>https://hdl.handle.net/10419/319537</link>
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        <rdf:li rdf:resource="https://hdl.handle.net/10419/319599" />
        <rdf:li rdf:resource="https://hdl.handle.net/10419/319600" />
        <rdf:li rdf:resource="https://hdl.handle.net/10419/319597" />
        <rdf:li rdf:resource="https://hdl.handle.net/10419/319596" />
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    <dc:date>2026-04-28T11:40:02Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/319599">
    <title>Stock markets' reaction to the Russia-Ukraine crisis: GCC countries vs Europe</title>
    <link>https://hdl.handle.net/10419/319599</link>
    <description>Title: Stock markets' reaction to the Russia-Ukraine crisis: GCC countries vs Europe
Authors: Elroukh, Ahmed W.
Abstract: Purpose - This study investigates how the Russian invasion of Ukraine affected the stock markets of the Gulf Cooperation Council (GCC) countries in comparison to Europe and explores the varying responses of GCC markets. Design/methodology/approach - Using an event study framework, the impact of the Russian invasion on equity markets in Europe and the GCC countries was analyzed by calculating abnormal returns around the event day, February 24, 2022. The study's null hypothesis posits that abnormal returns on and around the event day are zero. Findings - The analysis of abnormal returns revealed a negative impact of the event on both Europe and the GCC countries on the event day. While European markets continued to show negative abnormal returns, GCC markets rebounded with positive abnormal returns. The study also found diverse responses among GCC markets. Originality/value - This paper is the first to examine the effects of the Russian invasion of Ukraine on the GCC countries and compares the market reactions to a political event in an energy-exporting region versus an energy-importing region. It also highlights the differences in responses among GCC stock markets, which may be influenced by market size and energy exports to Europe.</description>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </item>
  <item rdf:about="https://hdl.handle.net/10419/319600">
    <title>Determining the optimal threshold of foreign direct investment for sustainable improvement in Ghana's trade balance</title>
    <link>https://hdl.handle.net/10419/319600</link>
    <description>Title: Determining the optimal threshold of foreign direct investment for sustainable improvement in Ghana's trade balance
Authors: Danquah, David Aboagye; Barnor, Charles
Abstract: Purpose - The main purpose of this study is to evaluate the threshold impact of foreign direct investment (FDI) on Ghana's trade balance. Design/methodology/approach - The study used annual time-series data, spanning 1980-2022. The study employed the autoregressive distributed lag (ARDL) models, error correction models and smooth threshold regression techniques to establish the relationship between FDI and trade balance. Findings - The result of the study shows a positive and significant effect of FDI on trade balance in the short and long run on the Ghanaian economy. The study further revealed that the threshold value of FDI that would induce a positive trade balance for Ghana is 7.825%. Moreover, it was established that there is a unidirectional causality between trade balance and FDI flowing from FDI to trade balance. Practical implications - Ghanaian policymakers ought to establish an FDI threshold monitoring mechanism to ensure inflows surpass 7.825%, promote investment diversification to mitigate reliance risks, enhance the investment climate and regulatory framework, strengthen export promotion initiatives and invest in human capital and technology transfer across key sectors for a favourable and sustainable trade position. Originality/value - This study is the first among its kind in Ghana and the first to apply both the ARDL and smooth threshold regression techniques in the same study.</description>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </item>
  <item rdf:about="https://hdl.handle.net/10419/319597">
    <title>Limitations of and proposals for L/C application of optional on-board B/L under the Incoterms® 2020 FCA rules</title>
    <link>https://hdl.handle.net/10419/319597</link>
    <description>Title: Limitations of and proposals for L/C application of optional on-board B/L under the Incoterms® 2020 FCA rules
Authors: Lee, Ki Young; Lee, Yangkee
Abstract: Purpose - This study examines the limitations of the practical application of letter of credit transactions requiring an on-board bill of lading under the FCA and presents opinions on the practical use of FCA-ruled bills of lading for letter of credit transactions. Design/methodology/approach - It is very significant that the Incoterms® 2020 FCA rules have added new content regarding the optional description of the on-board bill of lading. However, even if the seller has received the on-board bill of lading, there is a limitation in that the bank may not judge the presented documents as a consistent presentation for payment. Identifying these limitations and suggesting solutions are very important for future international commerce transactions. This study is conducted in the following order. First, we review the UCP regulations that banks apply to confirm the consistency of transportation documents in letter of credit transactions. Second, we confirm the limitations in applying the selective description of the on-board bill of lading newly established in the FCA rules proposed by the ICC to letter of credit transactions. Lastly, necessary opinions are presented on how the buying and selling parties can properly utilize the Incoterms in letter of credit transactions. Findings - The establishment of the ICC's Incoterms 2020 FCA rule's on-board bill of lading option regulation is intended to resolve merchants' inconvenience caused by the document screening standards of banks that ignore changes in the trade environment such as the emergence of containers and maintain traditional ship trading practices. It can be interpreted. However, there are still problems with the presentation of on-board bills of lading under FCA rules, and there are also problems with practices between merchants and banks. Existing prior research is limited to dealing with the problems of using FOB rules in container transportation and the limitations of the onboard bill of lading option provisions of FCA rules. The Fourth Industrial Revolution has also affected trade, ushering in the digital era. Trade platforms developed with new technologies are either under development or being prepared for commercialization. Originality/value - This study reaffirmed the main implications covered in previous studies and proposed the use of multimodal transport documents rather than bills of lading as an alternative to problems that may arise in letter of credit transactions that require on-board bills of lading under FCA rules. Above all, it presented opinions on changes in banks' practices that require on-board bills of lading in letter of credit transactions, which are inconsistent with the mainstream container-based intermodal transportation.</description>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </item>
  <item rdf:about="https://hdl.handle.net/10419/319596">
    <title>International trade war: Spice Road against Silk Road</title>
    <link>https://hdl.handle.net/10419/319596</link>
    <description>Title: International trade war: Spice Road against Silk Road
Authors: Oh, Joon Seok
Abstract: Purpose - The purpose of this paper is to analyse the international political economy of Korea and its effects due to geopolitical tension between China and the USA. Design/methodology/approach - Economic war between China and the USA has prolonged longer than expected. Aftermath of the COVID-19 pandemic, reforming the supply chain has been the centre of economic tension between China and the USA. Quite recently, with the rapid expansion of Chinese e-commerce platforms, distribution channels come upon a new economic tension between the two. And now is the time to pivot its pattern of conflict from competition into cooperation. In this end, economic diplomacy could be a useful means to give a signal of cooperation. From the view of economic diplomacy, this paper tries to analyse the projected transition of economic war between China and the USA with its implication on the trade policy of Korea. Findings - As an implementation of economic diplomacy, China suggested the Belt and Road Initiative (BRI), enhancing trade logistics among related countries to gain competitiveness. In 2023, the Biden administration suggested the India-Middle East and Europe Economic Corridor as a counter to BRI, which will be a threshold for changing trade policy from economic war into economic diplomacy. As a result, it is expected China and the USA will expand their economic diplomacy in a way to promote economic cooperation among allied states, while the distribution channel war would continue to accelerate the economic tension between China and the USA. Korea has to prepare for and provide measures handling this geopolitical location in its trade policy or economic diplomacy. Originality/value - This research contributes to the awareness and understanding of trade environments from the perspective of economic diplomacy.</description>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </item>
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