The last decades have witnessed the rise of a new wave of economic regionalism, the most remarkable example of which is the European Union. Regional economic integration is generally interpreted either as an attempt to resist the centrifugal forces of globalisation by strenghtening economic ties...

This paper examines how East Asia’s economic architecture has been evolving over the last ten years and how it will shape itself in the future. With the progress of market-driven economic integration, East Asian economies have developed various cooperative initiatives for trade and finance,...

In the past decade, we observed an acceleration of Western European integration, while the transition countries of Central Eastern Europe have not become members of the EU. In this paper, we conduct numerical simulations on the consequences of such a kind of differential integration within the...

We investigate how the exchange rate regime influences economic linkages across countries. We divide the exchange rate regime into three classifications: currency union, peg and floating exchange rates. Unlike most studies solely focusing on the relationship between anchor and client countries,...

This study examines the effects of bilateral exchange rate on trade flows in the WAMZ and assesses the role of complementarity trade structures in enhancing intra-WAMZ trade. The modified gravity model is used to assess whether efforts by WAMZ countries to facilitate transactions in national...

Using annual data (1970-2004), this study re-examined the hypothesis that exchange rate volatility may dampen export demand in Malaysia and Turkey. In particular, this study attempts to investigate the impact of exchange rate volatility on exports after taking into consideration the presence of...

Recent evidence suggests that regional economic integration provides an important stimulus not only to trade, but also to FDI. In contrast, the available theory on FDI does not yet provide empirically testable propositions on the effects of concurrent trade and investment liberalisation....

This paper examines the FDI flows towards two regions in the periphery of Europe: the Central and Eastern European countries (CEECs) and the countries of Southern Europe. We investigate whether evidence exists for FDI diversion from Southern Europe to the CEECs. A cursory observation of recent...

Launched as a political bloc and security pact in the aftermath of the Viet Nam War, the Association of Southeast Asian Nations (ASEAN) has evolved to embrace an ambitious economic agenda. Its latest project is to establish the ASEAN Economic Community (AEC) by 31 December 2015. Fulfilling these...