Trade relations between Japan and the Gulf Cooperation Council Countries (GCC Countries) is very strong and has been growing at very high rates during the last twenty years. In 1996, Japan imported more than 65% of its crude oil from the GCC Countries. The GCC countries’ imports from Japan...

We develop a methodology based on two important criteria - sensitivity in delivery time and value-to-weight ratio – to classify air cargo products. The classification is applied to evaluate the trade integration in Southern Africa since air cargo is a valuable option to overcome trade barriers...

This study examines the development of trade between ASEAN and New Zealand. Indices of trade intensity and trade potential are used to analyse the intensity of existing trade for the period 1980~2010 and trade potential going forward. This is the first use of the trade potential method to assess...

This paper borrows from network analysis to study the impact of trade and financial integrations on output drop during the 2008-2009 crisis. Using network analysis, I show that international trade and financial linkages have different effects on economic activity. Relationships involving the...

This paper compares alternative ways of measuring participation of a country in Global Value Chains (GVCs) and estimates distribution of gains among countries in terms of countries’ shares in total value-added created by trade under GVCs. Using the OECD-WTO database on Trade in Value Added,...

The paper examines Greek external trade following accession to the EU, placing emphasis on the 1990s. Using original disaggregated data we find: (i) Mutually offsetting, stable trade creation/trade diversion in imports from EU and third countries respectively. (ii) No EU effect on exports. These...

This paper uses a three-country duopoly model to examine the effects of lowered trade barriers when a new entrant joins a trading bloc. There are two firms - a small-country firm and a large-country firm within the bloc - and three markets -two within and one (new entrant) outside the bloc. The...

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...

In this paper the Balassa steps of economic integration are first reviewed, and then extended to cover currernt integration configurations. Pre-conditions for each stage of integration are detailed using a backward-looking economic conditionality approach, and then both economic and political...

From 2004, enlargement of the European Union is expected to bring substantial net economic benefits. Herein lies a weakness, in that practically all empirical studies characterise ‘single market’ accession using simple ad hoc uniform percentage reductions in trade costs. Employing a modified...