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This paper reaches seven conclusions regarding the Yen Bloc that Japan is reputed to be forming in Pacific Asia. (1 …) Gravity-model estimates of bilateral trade show that the level of trade in East Asia is biased intra-regionally, as it is … is no evidence of a special Japan effect. (3) Once one properly accounts for rapid growth in Asia, the statistics do not …
Persistent link: https://www.econbiz.de/10013218103
The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined. Using sectoral output and employment data, relative prices and relative productivities are calculated for China, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore,...
Persistent link: https://www.econbiz.de/10013240954
This paper presents an alternative method of testing for financial capital mobility in the absence of forward exchange markets. A model of domestic interest rate determination during liberalization is applied to Korean and Taiwanese data. A variety of diagnostic and recursive tests are used to...
Persistent link: https://www.econbiz.de/10012774969
We examine the factors that determine the differences in ex ante returns on equities in eleven Pacific Basin countries. Our concern is whether real return differentials are primarily caused by nominal return differentials or expected changes in real exchange rates. We find that nominal return...
Persistent link: https://www.econbiz.de/10012763463
going beyond WTO disciplines and focused on issues such as regulation and border controls. Though the US, Australia and …
Persistent link: https://www.econbiz.de/10013106304
This paper analyses policy interdependence under flexible exchange rates and its implications for middle-income countries in the Pacific area. In the first part of the paper, the consequences of strategic behavior among industrial countries are illustrated by means of a simple diagram. It is...
Persistent link: https://www.econbiz.de/10013245736
This is the second of a sequence of papers on international flows of merchandise trade among fifteen Pacific Basin countries and between them and eleven regions in the Rest of the World. In the first paper in this sequence (Hickman, Kuroda and Lau (1977)) we presented annual data on bilateral...
Persistent link: https://www.econbiz.de/10013295287
This is the first of a sequence of papers on international flows of merchandise trade among fifteen Pacific Basin countries and between them and eleven regions in the Rest of the World. The basic purpose of this report is to present and document annual data on bilateral flows of exports in...
Persistent link: https://www.econbiz.de/10013309242
This is the third of a sequence of papers on international flows of trade among fifteen Pacific Basin (PB) countries and between them and eleven regions in the Rest of the World (ROW). In Part I of the sequence (Hickman, Kuroda and Lau, 1977a) we presented and documented annual data on bilateral...
Persistent link: https://www.econbiz.de/10013220001
This paper analyzes whether commodity futures prices traded in the United States reveal information relevant to stock prices of East Asian economies including China, Japan, Hong Kong, South Korea, and Taiwan. We find significant and positive predictive powers of overnight futures returns of...
Persistent link: https://www.econbiz.de/10013071915