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Bilateral Trade Imbalances
Cuñat, Alejandro; Zymek, Robert - 2022
If sectoral trade flows obey structural gravity, countries' bilateral trade imbalances are the result of macro trade imbalances, “triangular trade”, or pairwise asymmetric trade barriers. Using data for 40 major economies and the Rest of the World, we show that large and pervasive...
Persistent link: https://www.econbiz.de/10014082958
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Are Bilateral Trade Balances Irrelevant?
Eugster, Johannes L.; Jaumotte, Florence; MacDonald, Margaux - 2021
Based on an empirical gravity model of sectoral bilateral trade, we uncover three features of bilateral trade balances. First, the difficulty of gravity models in fitting the observed level of bilateral balances is likely due to the presence of unobservable bilateral trade costs. Second, the...
Persistent link: https://www.econbiz.de/10013314844
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Financial Integration and Macroeconomic Volatility
Kose, Ayhan; Prasad, Eswar; Terrones, Marco - 2021
This paper examines the impact of international financial integration on macroeconomic volatility in a large group of … industrial and developing economies over the period 1960-99. We report two major results: First, while the volatility of output … volatility of consumption growth relative to that of income growth has increased for more financially integrated developing …
Persistent link: https://www.econbiz.de/10013212317
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Evolution of Exchange Rate Behavior in the ASEAN-5 Countries
Klyuev, Vladimir - 2016
-term volatility, particularly vis-a-vis the U.S. dollar. The degree of smoothing declined noticeably after the Asian Financial Crisis …
Persistent link: https://www.econbiz.de/10012977802
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Estimating the Effects of the Trans-Pacific Partnership (TPP) on Latin America and the Caribbean (LAC)
Cerdeiro, Diego - 2016
In February 2016, twelve Pacific Rim countries signed the agreement on the Trans Pacific Partnership (TPP), one of the largest and most comprehensive trade deals in history. While there are several estimates of the likely effects of the TPP, there is no systematic study on the effects on all...
Persistent link: https://www.econbiz.de/10012977870
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Trade Integration in Latin America : A Network Perspective
Beaton, Kimberly - 2017
The paper applies a network analysis framework to analyze the regional and global integration of Latin American and Caribbean (LAC) countries. We compare network-based measures of trade integration to conventional measures, decomposing integration along several dimensions to better understand...
Persistent link: https://www.econbiz.de/10012950403
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The Slowdown in Global Trade : A Symptom of a Weak Recovery
Aslam, Aqib - 2018
Global trade growth has slowed since 2012 relative both to its strong historical performance and to overall economic growth. This paper aims to quantify the role of weak economic growth and changes in its decomposition in accounting for the slowdown in trade using a reduced form and a structural...
Persistent link: https://www.econbiz.de/10012928627
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Improving the Short-Term Forecast of World Trade During the COVID-19 Pandemic Using Swift Data on Letters of Credit
Carton, Benjamin; Hu, Nan; Mongardini, Joannes; Moriya, Kei - 2021
An essential element of the work of the Fund is to monitor and forecast international trade. This paper uses SWIFT messages on letters of credit, together with crude oil prices and new export orders of manufacturing Purchasing Managers' Index (PMI), to improve the short-term forecast of...
Persistent link: https://www.econbiz.de/10013252036
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ASEAN Financial Integration
Almekinders, Geert - 2015
The establishment of the ASEAN Economic Community (AEC) at end-2015 has brought into sharp focus the issue of financial and economic integration in the region. This paper takes stock of ASEAN's financial integration and prospects. ASEAN integration could accelerate in the years ahead; it will...
Persistent link: https://www.econbiz.de/10013025506
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China : International Trade and WTO Accession
Rumbaugh, Thomas - 2006
China's increasing integration with the global economy has contributed to sustained growth in international trade. Its exports have become more diversified, and greater penetration of industrial country markets has been accompanied by a surge in China's imports from all regions--especially Asia,...
Persistent link: https://www.econbiz.de/10012783222