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FTA bilateral and regional negotiations in Asia have developed quickly in the past decade moving Asia ever closer to an … another. For countries in Asia there is negotiation of a China-Japan-Korea agreement, a China-India agreement, a Trans … potential full Asia integration in the form of a trade bloc. Our results reveal that these large Asia economies can be close to …
Persistent link: https://www.econbiz.de/10012458243
"This paper analyzes the effects of capital controls and crises on international financial integration, using data on stocks from emerging economies that trade in domestic and international markets. The cross-market premium (the ratio between the domestic and international market price of...
Persistent link: https://www.econbiz.de/10010520989
The literature has shown that the implied welfare gains from international financial integration are very small. We revisit the existing findings and document that welfare gains can be substantial if capital goods are not perfect substitutes. We use a model of optimal savings that includes a...
Persistent link: https://www.econbiz.de/10012464013
Standard theoretical arguments tell us that countries with relatively little capital benefit from financial integration as foreign capital flows in and speeds up the process of convergence. We show in a calibrated neoclassical model that conventionally measured welfare gains from this type of...
Persistent link: https://www.econbiz.de/10012469014
The economic effects from labor market integration are crucially affected by the extent to which countries are open to trade. In this paper we build a multi-country dynamic general equilibrium model with trade in goods and labor mobility across countries to study and quantify the economic...
Persistent link: https://www.econbiz.de/10012454987
Persistent link: https://www.econbiz.de/10013480751
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Persistent link: https://www.econbiz.de/10012245459
This report reviews the status of Mashreq countries' economic integration with the world, with the Arab world, and within the Mashreq sub-region itself. It examines the drivers of progress to date and barriers to further integration. It focuses on Mashreq countries' participation in integration...
Persistent link: https://www.econbiz.de/10012247211
Despite the recent inroads made by models of interregional trade based on external" economies, the analysis of the long-run trends in U.S. regional specialization in agriculture manufacturing, wholesale trade, retail trade, services, and all economic activities indicate that" these trends are...
Persistent link: https://www.econbiz.de/10012472480