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Trade, gravity, and sudden stops: On how commercial trade can increase the stability of capital flows
Cavallo, Eduardo A.; Cavallo, Eduardo A. - 2005
Financial stability is an important policy objective since crises are associated with big economic, social, and political costs. Promoting stability requires preventing 'sudden stops' in capital flows, which are events in which foreign financing abruptly disappears. This paper contributes to the...
Persistent link: https://www.econbiz.de/10010397715
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Multilateralism versus Regionalism!?
Herz, Bernhard; Wagner, Marco - 2010
in recent years. Based on an extensive data set which covers most of world trade over the past 60 years and about 240 …
Persistent link: https://www.econbiz.de/10010294692
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The determinants of cross-border bank flows to emerging markets: New empirical evidence on the spread of financial crises
Herrmann, Sabine; Mihaljek, Dubravko - 2010
This paper studies the nature of spillover effects in bank lending flows from advanced to the emerging market economies and identifies specific channels through which such effects occur. Based on a gravity model we examine a panel data set on cross-border bank flows from 17 advanced to 28...
Persistent link: https://www.econbiz.de/10010301350
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Exploring the intensive and extensive margins of world trade
Felbermayr, Gabriel J.; Kohler, Wilhelm K. - 2004
World trade evolves at two margins. Where a bilateral trading relationship already exists it may increase through time … have not traded with each other in the past (extensive margin). We provide an empirical dissection of post-World-War- II … growth in manufacturing world trade along these two margins. We propose a ?cornersolutions- version? of the gravity model to …
Persistent link: https://www.econbiz.de/10010274453
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International service transactions: Is time a trade barrier in a connected world?
Dettmer, Bianka - 2010
The firms' international fragmentation of production has recently widened its focus from outsourcing of intermediates to off-shoring of business services such as software program development and international call centre networks. Although a large number of business services are intangible and...
Persistent link: https://www.econbiz.de/10010281652
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Market Size and Factor Endowment: Explaining Comparative Advantage in Bilateral Trade by Differences in Income and Per Capita Income
Schumacher, Dieter - 2001
Using a gravity-type explanation of international trade flows at the industry level, it is shown that the pattern of comparative advantage in terms of sectoral export/import ratios in bilateral trade can be explained by relative income and relative per capita income. Total income of a country is...
Persistent link: https://www.econbiz.de/10010260775
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Trade costs, trade balances and current accounts : an application of gravity to multilateral trade
Fazio, Giorgio; MacDonald, Ronald; Melitz, Jacques - 2005
In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with...
Persistent link: https://www.econbiz.de/10010261322
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Trade globalization and political liberalization: A gravity approach
Yu, Miaojie - 2007
The literature has paid very little attention to a potential positive endogenous nexus between trade globalization and political liberalization. In this paper, I apply a structural approach to investigate two-way causality between the two based on the gravity trade theory, using data from a...
Persistent link: https://www.econbiz.de/10011470776
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Essays on International Trade and Development
Heid, Benedikt - 2014
This volume was prepared by Benedikt Heid while he was working at the ifo Institute and the University of Bayreuth. It was completed in December 2013 and accepted as a doctoral thesis by the Department of Economics at the Ludwig-Maximilians-Universität München. It includes six self-contained...
Persistent link: https://www.econbiz.de/10011698345
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The evolution of the world trade web
Fagiolo, Giorgio; Reyes, Javier; Schiavo, Stefano - 2007
This paper employs a weighted network analysis to study the empirical properties of the world trade web and their …
Persistent link: https://www.econbiz.de/10010328488