Recent literature has emphasized the importance of transaction costs and infrastructure in explaining trade, access to markets, and regional cooperation under globalization. For most Asian countries, transaction costs are a greater barrier to trade integration than import tariffs. By estimating...

The stumbling-bloc argument asserts that regionalism hinders MFN tariff cutting. If this was of first-order importance over previous decades, we should detect this in the levels of the tariffs. Using tariff line data for 23 large trading nations we find that MFN and PTA tariffs are complements,...

This study estimates the trade potential for India using an augmented Gravity model and then attempts to determine the importance of trade remedies. Based on the panel data, this Gravity model is the first-ever attempt to estimate India’s trade potential in the pre- and post- global economic...

This paper explores the growth implications of regional integration. From the theory, it identifies the ‘footprints’ that such growth should leave in the data. It then checks the data on the four poor EU nations for such footprints. Prima facie evidence for Ireland, Portugal and Spain...