• ISSN: 2301-3567 (Print), 2972-3981 (Online)
    • Abbreviated Title: J. Econ. Bus. Manag.
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    • DOI: 10.18178/JOEBM
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HOME > Archive > 2024 > Volume 12 Number 1 (2024) >
JOEBM 2024 Vol.12(1): 18-26
DOI: 10.18178/joebm.2024.12.1.770

The Impact of Foreign Trade on Employment and Regional Differences: An Empirical Study Based on EU and UK Panel Data

Siyuan Wang
University of Glasgow, UK
*Correspondence: 1540236418@qq.com (S.W.)

Manuscript received November 6, 2023; revised December 4, 2023; accepted December 14, 2023; published January 19, 2024.

Abstract—Foreign trade and employment have always been important influences on the stable development of a country’s economy. As one of the most economically developed economies in the world, whether the EU’s favourable conditions for foreign trade development can promote the stability of employment is a matter of concern. Therefore, this paper selected the EU countries as well as the UK as the research object for theoretical analysis, and used the monthly data of foreign trade and employment rate of these countries from 2000 to 2020 for empirical analysis. It is found that as developed countries where capital is more abundant than labour, exports in the EU and the UK adversely affect employment, while imports increase employment rate. Both the fixed effects model for static panels and the systematic GMM model for dynamic panels confirm this finding. In addition, the paper uses the fixed effects model to conduct a regionalised difference analysis and finds that the impact of foreign trade on employment is not identical for countries in different regions, even if they are all in Europe.

Keywords—trade, employment, regional differences, European union

Cite: Siyuan Wang, "The Impact of Foreign Trade on Employment and Regional Differences: An Empirical Study Based on EU and UK Panel Data," Journal of Economics, Business and Management, vol. 12, no. 1, pp. 18-26, 2024.

Copyright © 2024 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).

 

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