This paper examines the Indias RTAs policy in Asia and the emerging patterns of efficiency-seeking industrial restructuring unleashed by it. Section 2 provides a discussion of the analytical relationship between RTAs, patterns of trade, FDI resulting from the industrial restructuring. It also...

One of the objectives of the evolving ASEAN Economic Community (AEC) is to promote free investment flows and freer capital flows. By deepening economic integration among them, ASEAN Member Countries can establish a region-wide production base that will attract more foreign direct investment and...

This paper examines the exporting job hypothesis that expansion of overseas operations of manufacturing multinational enterprises (MNEs) reduces home employment using data for Japanese MNEs. While the existing studies are mainly based on the industry level data, this paper presents the evidence...

We develop a general equilibrium model with nancial frictions in which internal capital (equity capital) and external capital (bank loans) have different rates of return. Financial development raises the rate of return on external capital but has a non-monotonic effect on the rate of return on...

Chinas Industrial clustering is a distinguished economic phenomenon over the last 20 years. It began to enter into its fast track in the mid-1990s and developed rapidly in recent years. Both market-driven force and government-driven force contribute to Chinese industrial clusters. The opening...