We review a recent body of theoretical work that aims to put numbers on the consequences of globalization. A unifying theme of our survey is methodological. We rely on gravity models and demonstrate how they can be used for counterfactual analysis. We highlight how various economic...

South and Southeast Asian economic integration via increased trade flows has been increasing significantly over the past 2 decades, but the level of trade continues to be relatively low. This underperformance has been due to both policy-related variables—relatively high tariff and non-tariff...

Regional integration could be turned into a basic factor for economic growth if combined with a strong economic-development-oriented governmental strategy. The effects of regional integration can be maximized for countries stressing open trade as opposed to creating trade-diverting conditions,...

In this article, the global simulation model (GSIM) of Joseph F. Francois and Keith H. Hall (2009) for analyzing global, regional, and unilateral trade policy changes was applied to Serbia. This was to measure the effects of full trade liberalization with the EU after Serbian accession to the...

In this paper the results of a number of numerical simulations of possible trade liberalization scenarios in the ESCAP region are presented. The scenarios considered include: expansion of existing trade blocs to encompass new members; consolidation and deepening of existing trade agreements; and...

The long list of product in sensitive list maintained by the member countries is one of the major weaknesses of South Asia Free Trade agreement for its effectiveness. Present study analyzes the impact of sensitive list (Phase II) under the SAFTA at disaggregate level (HS6 digit) by using partial...

What would be the economic effects of the UK leaving the European Union on living standards of British people? We focus on the effects of trade on welfare net of lower fiscal transfers to the EU. We use a standard quantitative static general equilibrium trade model with multiple sectors,...

This article aims to analyze how the financial crisis that bursted in the mid-2008 led to a global and regional drop in trade flows. It starts from a comparison of the Great Depression shock to what happened during the Great Recession. Based on the similarities and differences found in the...

The aim of this paper is to investigate the effects of competing trade regimes on Serbian trade with its most significant (traditional) partners, like European Union and CEFTA 2006 signatories, and other untraditional trade partners with favourable trade regime, like the USA. To this end,...