This paper analyzes why the global financial crisis in 2008 severely affected Asia's trade. Asia has been suffering from the falls in export demand from developed countries. However the abrupt trade declines in Asia are not fully explained by reactions to this as in previous experiences. The...

The paper calculates the decline in costs involving merchandise trade between the People's Republic of China (PRC) and India during the period 1980-2008. The gravity-based measure of bilateral trade costs indicates that declining trade costs account for about three-quarters of the increase in...

This paper calculates the decline in costs involving merchandise trade between the People's Republic of China (PRC) and India during the period 1980-2008. Drawing from the recent literature, a comprehensive measure of trade costs is derived from a theory-founded gravity model of international...