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  • 1
    Online Resource
    Online Resource
    Early Impacts of Indonesia's Investment Reforms : A Preliminary Analysis (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (40 pages)
    Parallel Title: Erscheint auch als Montfaucon, Angella Faith Early Impacts of Indonesia's Investment Reforms: A Preliminary Analysis
    Keywords: Domestic Direct Investment ; Foreign Direct Investment ; International Economics and Trade ; Investment Liberalization ; Investment Reform Effectiveness ; Sustainable Development Goals (SDG) ; Trade Policy
    Abstract: The Indonesian government implemented comprehensive investment reforms in 2021 to encourage investment inflows and related positive impacts. Compared to the previous investment regulation in 2016, the new decree removed foreign direct investment restrictions in over 500 business activities. By estimating the difference in difference in difference event study model, this paper empirically assesses the response in (realized and planned) foreign direct investment and realized domestic direct investment to the reforms. The paper also assesses whether there was growth in investments in fully liberalized sectors linked to Sustainable Development Goals as a proxy for the quality of investment. The results suggest that the investment reforms were associated with increases in realized foreign direct investment, realized direct domestic investment, and planned foreign direct investment, especially in fully liberalized sectors, while there was a decline in all three types of investments in the non-liberalized sectors. The results for planned foreign direct investment suggest that the increase in fully liberalized sectors is likely to continue. The results on direct domestic investment suggest a possible crowding-in effect. Among the fully liberalized sectors, the base metal industry was a key driver of growth, and sectors linked to Sustainable Development Goals sectors had mixed results. The findings provide suggestive evidence of the complementary effect of trade reforms, although the analysis does not specify which of the several reforms may have led to the increase. These results are robust when the possible effects of Covid-19 recovery and other macroeconomic factors are controlled for. These results are also robust to alternative event study models. Further analysis would be needed to observe the trajectory in both the quality and quantity of investment going forward, the distributional effects and the needed complementary reforms to ensure sustainable gains beyond the short run
    DOI: 10.1596/1813-9450-10478
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Non-Tariff Measures, Import Competition, and Exports (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (44 pages)
    Parallel Title: Erscheint auch als Print Version: Cali, Massimiliano Non-Tariff Measures, Import Competition, and Exports
    Keywords: Export Competitiveness ; Export Performance ; Firm Performance ; Foreign Trade Promotion and Regulation ; Import Competition ; International Economics and Trade ; Non-Tariff Measures ; Rules of Origin ; Trade Policy
    Abstract: The empirical evidence on the impact of import competition on economic performance relies mainly on import tariff liberalization as the source of changes to competition. This paper extends this evidence by focusing on non-tariff measures, an increasingly important trade policy tool globally. The analysis examines the competition effect of four specific non-tariff measures on the exporting activity of the universe of Indonesian firms. The focus is on measures that do not clearly address any negative externalities of imports-the supposed objective of non-tariff measures-and hence appear to be protectionist in nature. The results suggest that by restricting import competition, these measures reduce the survival of firms in export markets as well as the intensive and extensive margins of their exports. Non-tariff measures have a more negative effect than import tariffs in most cases and these results are robust to various checks. The analysis provides suggestive evidence that markups are an important channel through which these effects are mediated
    DOI: 10.1596/1813-9450-9801
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Trade Policies and Sea and Air Freight : The Impact of COVID-19 Lockdowns on Imports and Exports (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (48 pages)
    Parallel Title: Erscheint auch als Majune, Socrates Trade Policies and Sea and Air Freight: The Impact of COVID-19 Lockdowns on Imports and Exports
    Keywords: Air Cargo ; COVID-19 Impact on Exports ; Export Competitiveness ; Imports ; International Economics and Trade ; Lockdown Impact ; Lockdown Policies ; Non-Tariff Measures ; Pandemic International Trade ; Sea Cargo ; Trade ; Trade Policy ; Transport
    Abstract: This study analyzes how Indonesia's international trade was affected by its own lockdown policies (domestic) and those of its trading partners (external) in response to COVID-19. The study differentiates between sea freight and air freight, as well as products affected by specific non-tariff measures. Event-study results show that the decline in imports (which were more negatively affected than exports) was mainly attributed to external lockdowns, the impacts of which were more pronounced and persistent for imports entering Indonesia by air (due to restrictions to international travel) and imports subject to port-related non-tariff measures. Domestic lockdowns adversely affected intermediate imports subject to non-tariff measures requiring physical inspection, testing, and approval processes. External lockdowns, which also had a larger impact on exports relative to domestic policies, affected sea and air exports evenly. Demand factors (specifically, workplace closures and stay-at-home orders) in the partner countries were the drivers of the decline in exports. Enhancing trade facilitation to keep goods moving as smoothly as possible, reforming specific non-tariff measures, and improving customs and other procedures would ensure fewer disruptions from shocks in a globally integrated world
    DOI: 10.1596/1813-9450-10271
    URL: lizenzpflichtig
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    MPI Ethno. Forsch.
  • 4
    Online Resource
    Online Resource
    Building a Dataset for Non-Tariff Measures and its Usage : The Case of Indonesia and Applicability for Other Countries (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Foreign Trade, FDI, and Capital Flows Study
    Keywords: Data Usage ; Dataset ; International Economics and Trade ; International Trade and Trade Rules ; Non-Tariff Measures ; NTMS ; Trade Policy
    Abstract: As import tariffs have been declining over the past decades, non-tariff measures (NTMs) have become the most frequently used measures in trade policy. The increasing use of NTMs in global trade has highlighted the need for timely, high frequency and accurate data in order to better understand the implications that NTMs have on products, firms and the economy. This manual describes the first high-frequency panel dataset built by the World Bank on the universe of NTMs applied by a country, id est Indonesia. The manual includes a comprehensive overview of the purpose, building procedures and usage of the data for Indonesia. The dataset expands on and improves on existing data on Indonesian NTMs collected by other institutions (UNCTAD and ERIA) by covering a broader source base, customizing the data, and by increasing the frequency of updates. By documenting the data collection and transformation process, the manual hopes to facilitate the construction of similar datasets in other countries
    DOI: 10.1596/39463
    URL: lizenzpflichtig
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    MPI Ethno. Forsch.
  • 5
    Online Resource
    Online Resource
    Firms in Global Value Chains during Covid-19 : Evidence from Indonesia (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (49 pages)
    Parallel Title: Erscheint auch als Ghose, Devaki Firms in Global Value Chains during Covid-19: Evidence from Indonesia
    Keywords: Global Value Chain ; Global Value Chains and Business Clustering ; Industrial and Market Data and Reporting ; Industry ; International Economics and Trade ; Non-Tariff Measures ; Port Congestion ; Port of Entry Restriction Impact ; Private Sector Development ; Public Sector Development ; Resilience ; Trade Policy ; Value Chain Participation
    Abstract: Using detailed monthly firm-level trade data from Indonesia from February 2019 to June 2021, this paper shows that firm-level exports were overall more resilient than imports during Covid-19. Firms that participated in global value chains were more resilient to the Covid-19 shock beyond the immediate short-run compared to firms that did not. However, among global value chain firms, those that faced certain types of non-tariff measures on their import products, notably port of entry restrictions, on average faced larger reductions in export quantities and number of transactions compared to firms that did not face such restrictions, consistent with the evidence of major port congestion during Covid-19. Therefore, although international connectedness could be a source of vulnerability to global shocks in the immediate short run, policies that enable firms to be more globally engaged through global value chains could enhance resilience. Relatedly, tackling measures such as port of entry restrictions can ensure fast and efficient port and customs procedures, especially during periods of high port congestion, as global value chain trade requires goods to cross borders many times
    DOI: 10.1596/1813-9450-10514
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 6
    Online Resource
    Online Resource
    Invoicing Currency and Symmetric Pass-Through of Exchange Rates and Tariffs : Evidence from Malawian Imports from the EU (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (38 pages)
    Parallel Title: Erscheint auch als Print Version: Montfaucon, Angella Faith Invoicing Currency and Symmetric Pass-Through of Exchange Rates and Tariffs: Evidence from Malawian Imports from the EU
    Abstract: The response of import prices to exchange rates can be used to predict the effect of changes in trade policy. The hypothesis of symmetric pass-through of tariffs and exchange rates asserts that the effect of tariffs and exchange rates on prices are identical. This paper examines whether the symmetry hypothesis holds in the context of invoicing currency, by investigating the role of the euro and the U.S dollar currencies. The paper uses transaction-level data of Malawian imports from the European Union (EU) over a 12-year period, separating imports from the Economic and Monetary Union (EMU) members and non-members and across sectors. The findings show that the dollar has the highest invoicing share, and the pass-through rate of exchange rate and tariff shocks on to Malawian consumers is high. Symmetry holds when bilateral exchange rates are used, but when the invoicing currency is considered there are deviations from symmetry. This result implies that to predict the effects of trade policy based on import prices' responses to the exchange rate, bilateral exchange rates are not suitable for capturing exchange rate and tariff pass-through. The variations in the results across EMU and non-EMU, currencies, and industries demonstrates that that empirical evidence is needed in each case to understand the extent of pass-through, which is crucial for import-dependent developing countries such as Malawi
    DOI: 10.1596/1813-9450-9577
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 7
    Online Resource
    Online Resource
    Trading Towards Sustainability : The Role of Trade Policies in Indonesia's Green Transformation (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other ESW Reports
    Keywords: Adaptation to Climate Change ; Environment ; Green Transformation ; International Economics and Trade ; Plastic Substitutes ; Sustainability ; Trade ; Trade Policies ; Trade Policy
    Abstract: Climate change - and efforts to mitigate and adapt to it - will affect global flows of trade and Indonesia's ability to transition to a more environmentally sustainable economy on its path to become a high-income economy is, therefore, interlinked with trade policy. Environmental policy stringency (EPS) is increasing around the globe - a crucial challenge lies in harmonizing these with sustained economic growth, yet both goals can be reached. Although trade flows facilitate emissions, they are also a critical part of the solution, including through trade in environmental goods (EGs) and plastic substitutes - with important economic spillovers. This report provides a detailed analysis of the role of trade and trade policy on EGs and plastic substitutes in Indonesia's green transition. Chapter one describes the need for, and urgency of, this transition, by looking at the carbon intensity of Indonesia's trade, the impacts of environmental policies of Indonesia and key trading partners, and the roles of EGs. Chapter two examines where Indonesia stands on the level of trade in EGs and plastic substitutes and the competitiveness of EGs trade. Chapter three explores trade agreements and tariffs and simulates potential impacts of tariff reforms - including through multilateral actions. Chapter four examines what non-tariff measures (NTMs) apply on the products including inputs of firms exporting EGs and assesses which NTMs may be costly. Finally, chapter five concludes with policy recommendations
    DOI: 10.1596/40925
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 8
    Online Resource
    Online Resource
    Trade Policy and Exporters' Resilience : Evidence from Indonesia (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (54 pages)
    Parallel Title: Erscheint auch als Cali, Massimiliano Trade Policy and Exporters' Resilience: Evidence from Indonesia
    Keywords: Access To Imported Inputs ; Demand Resilience ; Economic Shock ; Exchange Rate Shock ; Export Competitiveness ; Foreign Trade Promotion and Regulation ; General Manufacturing ; Global Value Chain ; Industry ; International Economics and Trade ; Market Access ; Market Adjustment ; Resilience ; Supply Chain Access ; Tariff ; Trade Policy
    Abstract: How does trade policy affect exporters' ability to respond to foreign demand shocks Faced with a sudden change in the demand for their goods, exporting firms must optimally change their inputs and/or input sources. This paper tests whether a country's own trade policy makes such adjustments harder for firms that rely on imported inputs. The analysis exploits new time-varying data on tariffs and non-tariff measures faced by Indonesian firms and focuses on the impact of exchange rate shocks on exports to Japan. In response to a depreciation of the yuan, which makes Chinese exports more competitive, the findings show that firms that face non-tariff measures on their inputs see a much larger drop in their export values compared to firms that do not face any non-tariff measures. That is not the case for import tariffs on inputs, which do not affect the export response to the shock. This difference is consistent with the (partial) fixed costs imposed by non-tariff measures on imports in contrast to the pure variable costs of tariffs. The magnitude of this effect depends on the type of non-tariff measure and on firms' characteristics, such as their participation in global value chains, size, and product quality
    DOI: 10.1596/1813-9450-10068
    URL: lizenzpflichtig
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    MPI Ethno. Forsch.
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