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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
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Defying Gravity : The 1932 Imperial Economic Conference and the Reorientation of Canadian Trade
Jacks, David S. - 2011
In the wake of the Great Depression, the Canadian government embarked on a stunning reversal in its commercial policy. A key element of its response was the promotion of intra-imperial trade at the Imperial Economic Conference of 1932. This paper addresses whether or not Canadian trade was able...
Persistent link: https://www.econbiz.de/10013122214
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Sovereign Default Risk and Bank Fragility in Financially Integrated Economies
Bolton, Patrick - 2011
We analyze contagious sovereign debt crises in financially integrated economies. Under financial integration banks optimally diversify their holdings of sovereign debt in an effort to minimize the costs with respect to an individual country's sovereign debt default. While diversification...
Persistent link: https://www.econbiz.de/10013127984
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Has the European Union Achieved a Single Pharmaceutical Market?
Timur, Aysegul - 2010
This paper explores price differences in the European Union (EU) pharmaceutical market, the EU's fifth largest industry. With the aim of enhancing quality of life along with industry competitiveness and R&D capability, many EU directives have been adopted to achieve a single EU-wide...
Persistent link: https://www.econbiz.de/10013139285
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Global Banks and Crisis Transmission
Kalemli-Ozcan, Sebnem - 2012
We study the effect of financial integration (through banks) on the transmission of international business cycles. In a sample of 20 developed countries between 1978 and 2009 we find that, in periods without financial crises, increases in bilateral banking linkages are associated with more...
Persistent link: https://www.econbiz.de/10013104063
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Globalization and Monetary Control
Woodford, Michael - 2007
It has recently become popular to argue that globalization has had or will soon have dramatic consequences for the nature of the monetary transmission mechanism, and it is sometimes suggested that this could threaten the ability of national central banks to control inflation within their...
Persistent link: https://www.econbiz.de/10012776195
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The Impact of Federation on Australia's Trade Flows
Irwin, Douglas A. - 2006
In 1901, six Australian states joined together in political and economic union, creating an internal free trade area and adopting a common external tariff. This paper investigates the impact of federation on Australia's internal and international trade flows by studying changes in the...
Persistent link: https://www.econbiz.de/10012780325
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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
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Financial Integration within EU Countries : The Role of Institutions, Confidence and Trust
Ekinci, Mehmet Fatih - 2010
We investigate the degree of financial integration within and between European countries. We construct two measures of de-facto integration across European regions to capture quot;diversificationquot; and quot;developmentquot; finance in the language of Obstfeld and Taylor (2004). We find...
Persistent link: https://www.econbiz.de/10012759795
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Big-Think Regionalism : A Critical Survey
Baldwin, Richard - 2008
Small Think Regionalism focused on the Vinerian question: quot;Would a nation gain from joining a trade bloc?quot; Big Think Regionalism considers regionalism's systemic impact on the world trading system, focusing mainly on two questions: quot;Does spreading regionalism harm world welfare?quot;...
Persistent link: https://www.econbiz.de/10012771715