This paper provides an analysis of the two channels of regional integration: integration via markets and integration via agreements. Given that East Asia and Latin America are two fertile regions where both forms of integrations have taken place, we examine the experiences of these two areas to...

In this paper we first document the growing importance of intra-East Asian trade in parts and components and capital goods facilitated by foreign direct investment (FDI). Japanese direct investment has a stronger influence on intra-East Asian trade relative to FDI from France and Germany. It is...

Paper prepared for a conference in honor of Professor Ronald McKinnon, Stanford University, June 1, 2002. Professor Ronald McKinnon has many seminal and influential ideas in many diverse areas of economics, including international trade, international finance, economic development and the...

This paper provides a simple comparative analysis of Japanese and U.S. trade with China. In recent years, Japanese exports to China had been growing faster than U.S. exports, but Japanese imports from China had been growing more slowly. A large amount of U.S. and Japanese exports were first...

The paper provides a simple comparative analysis of Japanese and US trade with China. In recent years, Japanese exports to China had been growing faster than US exports, but Japanese imports from China had been growing more slowly. A large amount of US and Japanese exports were first shipped to...