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How Close is Asia to Already Being a Trade Bloc?

Li, Chunding - 2014

FTA bilateral and regional negotiations in Asia have developed quickly in the past decade moving Asia ever closer to an … another. For countries in Asia there is negotiation of a China-Japan-Korea agreement, a China-India agreement, a Trans … potential full Asia integration in the form of a trade bloc. Our results reveal that these large Asia economies can be close to …

Persistent link: https://www.econbiz.de/10013048052

How Big are the Gains from International Financial Integration?

Hoxha, Indrit - 2010

The literature has shown that the implied welfare gains from international financial integration are very small. We revisit the existing findings and document that welfare gains can be substantial if capital goods are not perfect substitutes. We use a model of optimal savings that includes a...

Persistent link: https://www.econbiz.de/10012758019

The Elusive Gains from International Financial Integration

Gourinchas, Pierre-Olivier; Jeanne, Olivier - 2021

Standard theoretical arguments tell us that countries with relatively little capital benefit from financial integration as foreign capital flows in and speeds up the process of convergence. We show in a calibrated neoclassical model that conventionally measured welfare gains from this type of...

Persistent link: https://www.econbiz.de/10013223047

Goods and Factor Market Integration : A Quantitative Assessment of the EU Enlargement

Caliendo, Lorenzo - 2017

The economic effects from labor market integration are crucially affected by the extent to which countries are open to trade. In this paper we build a multi-country dynamic general equilibrium model with trade in goods and labor mobility across countries to study and quantify the economic...

Persistent link: https://www.econbiz.de/10012949423

Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and Efta

Bayoumi, Tamim; Eichengreen, Barry - 2021

This paper considers the impact on trade of preferential arrangements in Europe since the 1950s. Using a first difference version of the gravity model, we find that the EC and EFTA altered the pattern of international trade. We also find evidence of trade diversion in several cases, notably that...

Persistent link: https://www.econbiz.de/10013224188

Open Regionalism in a World of Continental Trade Blocs

Wei, Shang-Jin; Frankel, Jeffrey A. - 2021

Continental trade blocs are emerging in many parts of the world almost in tandem. If trade blocs are required to satisfy the McMillan criterion of not lowering their trade volume with outside countries, they have to engage in a dramatic reduction of trade barriers against non-member countries....

Persistent link: https://www.econbiz.de/10013225933

Economic Integration and Convergence : U.S. Regions, 1840-1987

Kim, Sukkoo - 2021

Despite the recent inroads made by models of interregional trade based on external" economies, the analysis of the long-run trends in U.S. regional specialization in agriculture manufacturing, wholesale trade, retail trade, services, and all economic activities indicate that" these trends are...

Persistent link: https://www.econbiz.de/10013231563

Large Countries, Small Countries, and the Enlargement of Trade Blocs

Casella, Alessandra - 2021

Are there systematic forces such that countries of different sizes participating in a free trade bloc gain differently from the entry of new members? If economies of scale imply that firms located in large countries enjoy lower costs, then the gains from enlarging the bloc will fall...

Persistent link: https://www.econbiz.de/10013214599

Trade Blocs, Currency Blocs and the Disintegration of World Trade in the 1930s

Eichengreen, Barry; Irwin, Douglas A. - 2021

The dramatic implosion and regionalization of international trade during the 1930s has often been blamed on the trade and foreign exchange policies that emerged in the interwar period. We provide new evidence on the impact of trade and currency blocs on trade flows from 1928 1938 that suggests a...

Persistent link: https://www.econbiz.de/10013245718

Numerical General Equilibrium Analysis of China's Impacts from Possible Mega Trade Deals

Li, Chunding - 2014

This paper explores the potential impacts on both China and other major countries of possible mega trade deals. These include the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership (RCEP), and various blocked deals. We use a numerical 13-country global general...

Persistent link: https://www.econbiz.de/10013048108

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