Comprehensive Analysis of Tariff Barriers Worldwide: A Composite Assessment Approach

  • Muhammad Khalid Rashid Govt. College of Science, Lahore, Pakistan
  • Abdul Basit Lahore Institute of Science & Technology, Lahore, Pakistan
  • Tehmina Fiaz Qazi Hailey College of Banking and Finance University of the Punjab, Lahore, Pakistan
  • Abdul Aziz Khan Niazi Institute of Business and Management, University of Engineering and Technology, Lahore, Pakistan
Keywords: Business, GRA, GRG, international trade, Pakistan, Tariff barriers.

Abstract

International trade has fundamental importance for all the countries and the analysis concerning international trade particularly concerning tariff barriers is high on the agenda of researchers in the field of economics, business and politics. Aim of the study is to assess the world tariff barriers of 158 countries. Overall design of the study comprises of a crisp literature review, data extraction and analysis. It is a study of one hundred fifty-eight countries that uses secondary data taken from World Development Indicators (WDI) 2020. It uses Grey Relational Analysis (GRA) as research methodology. Results of GRA show that Macao SAR, China, Hong Kong, Singapore, Montenegro, Mauritius, Brunei Darussalam, Myanmar, Chile, Peru and Australia have relatively highest grey relational grades meaning thereby, low tariff trade barriers whereas Grenada, Antigua and Barbuda, Belize, Central African Republic, Nepal, Guinea-Bissau, Fiji, Gabon, Barbados, Djibouti, St. Kitts and Nevis have lowest grey relational grade meaning thereby, these countries have high level of tariff based barriers of international trade. Interestingly, all the member countries of European Union occupy the rank of 27 (i.e. all countries have the same rank) which can be explained in the perspective of their union of tariff. Since, they have uniformed tariff policy as against rest of the world, therefore, have same rank. It is a study based on reliable real time data set. The study has value for all stakeholders i.e. international community, local governments, society at large, policy makers, researchers and international institutions.

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Published
2021-01-26
How to Cite
Muhammad Khalid Rashid, Abdul Basit, Tehmina Fiaz Qazi, & Abdul Aziz Khan Niazi. (2021). Comprehensive Analysis of Tariff Barriers Worldwide: A Composite Assessment Approach. Journal of Accounting and Finance in Emerging Economies, 7(1), 205-215. https://doi.org/10.26710/jafee.v7i1.1583