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Growing U.S. Trade Deficit in Consumer-Oriented Agricultural Products AgEcon
Zhuang, Renan; Koo, Won W.; Mattson, Jeremy W..
We investigate the factors behind the growing U.S. trade deficit in consumer-oriented agricultural products by using reliable panel data and an empirical trade model derived from international trade theory. The results indicate that per capita income in the United States appears to be the most important determinant for the growing U.S. trade deficit of consumer-oriented agricultural products. An increase in per capita income and trade liberalization in foreign countries would improve the U.S. trade balance. U.S. foreign direct investment abroad in food manufactures and the North American Free Trade Agreement (NAFTA) are found to have negative effects on the U.S. trade balance.
Tipo: Journal Article Palavras-chave: Consumer-oriented products; Exchange rate; Trade balance; Trade deficit; Agribusiness; Food Consumption/Nutrition/Food Safety; International Relations/Trade; F14; Q17.
Ano: 2008 URL: http://purl.umn.edu/47270
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Determinants of the U.S. Trade Balance in Consumer-Oriented Agricultural Products AgEcon
Zhuang, Renan; Koo, Won W.; Mattson, Jeremy W..
This study investigates the factors behind the growing U.S. trade deficit in consumer-oriented agricultural and food products by using reliable panel data and an empirical trade model derived from international trade theory. The results indicate that per capita income in the United States appears to be the most important determinant for the growing U.S. trade deficit. Increases in per capita income and trade liberalization in foreign countries improve the U.S. trade balance. U.S. foreign direct investment abroad in food processing, a strong U.S. dollar, and NAFTA are found to have negative effects on the U.S. trade balance.
Tipo: Working or Discussion Paper Palavras-chave: Consumer-oriented products; Trade balance; Trade deficit; Exchange rate; International Relations/Trade.
Ano: 2007 URL: http://purl.umn.edu/9079
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CHARACTERISTICS OF THE DECLINING U.S. AGRICULTURAL TRADE SURPLUS AgEcon
Mattson, Jeremy W.; Koo, Won W..
The U.S. agricultural trade surplus has fallen from $26.9 billion in 1996 to $7.3 billion in 2004, and it is shrinking even further in 2005. The objective of this paper is to examine the characteristics of the decreasing agricultural trade surplus and determine the factors causing this decline. U.S. imports from Canada and Mexico have more than doubled under NAFTA, and imports from non-NAFTA countries have also increased considerably. Most increases in imports are consumer-ready and horticultural products. U.S. exports to Canada and Mexico have also been increasing steadily, but exports to other important markets have been stagnant or declining. Much of the declining trade surplus can be accounted for by trade with the European Union. Results from an...
Tipo: Working or Discussion Paper Palavras-chave: Agricultural trade balance; Free trade agreements; Consumer-oriented products; International Relations/Trade.
Ano: 2005 URL: http://purl.umn.edu/23503
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