Showing 1 - 10 of 535
The paper provides quantitative estimates of the impact of the European trade agreements on trade flows. It applies both static and dynamic panel estimation techniques. The results are useful to policymakers because new intra-European trade agreements are being negotiated. In the absence of a...
Persistent link: https://www.econbiz.de/10014400337
When does trade become a one-way relationship? We study bilateral trade balances for a sample of 18 European countries over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably, even after allowing for...
Persistent link: https://www.econbiz.de/10014397576
This paper analyzes the effects of exchange rate volatility on bilateral trade flows. Through use of a gravity model and panel data from western Europe, exchange rate uncertainty is found to have a negative effect on international trade. The results seem to be robust with respect to the...
Persistent link: https://www.econbiz.de/10014403368
The financial crisis, originated from the collapse of US housing markets in 2008, reverberates around the world. Its destructive force was felt nowhere more keenly than Western Europe. Indeed, it continues to mire in financial volatility as the debt problem contagiously spreads around the...
Persistent link: https://www.econbiz.de/10014398383
The sheer size of mandated trade among members of the Council for Mutual Economic Assistance (CMEA), and its composition and quality, means that its reorientation toward other markets entails a whole complex of structural adjustment policies. To be successful, policy reform must be...
Persistent link: https://www.econbiz.de/10014396289
With China''s accession to the WTO in 2001, Russia is by far that organization''s most prominent nonmember. This paper … applies the gravity model to gauge whether this ""outsider"" status has been affecting Russia''s export structure. On the … the model''s predictions. The paper discusses possible explanations of this result, including Russia''s exclusion from …
Persistent link: https://www.econbiz.de/10014404162
We test the extent to which growth in the 11 CIS countries (excluding Russia) was associated with developments in … Russia, overall, as well as through the trade, financial and remittance channels over the last decade or so. The results … point to the continued existence of economic links between the CIS countries and Russia, though these links may have altered …
Persistent link: https://www.econbiz.de/10014402216
This paper assesses the effect of constrained trade finance on trade flows in countries undergoing financial and balance of payments crises. Most of the countries that had a major crisis had a significant trade contraction, while trade-related finance declined sharply. However, trade may also be...
Persistent link: https://www.econbiz.de/10014404046
We investigate how corporate stock returns respond to geopolitical risk in the case of South Korea, which has experienced large and unpredictable geopolitical swings that originate from North Korea. To do so, a monthly index of geopolitical risk from North Korea (the GPRNK index) is constructed...
Persistent link: https://www.econbiz.de/10012796347
This paper investigates the asymmetries in trade spillovers from sector-specific technology shocks in China to selected euro area countries. We use a Ricardian-gravity trade model to estimate sectoral competitiveness in individual euro area countries. Simulations on the impact of productivity...
Persistent link: https://www.econbiz.de/10009622526