We work with a panel of bilateral trade flows from 1988 to 2002, exploring the influence of infrastructure, institutional quality, colonial and geographic context, and trade preferences on the pattern of bilateral trade. We are interested in threshold effects, and so emphasize those cases where...

The recession in the United States in the wake of the global financial crisis has had a pronounced negative impact on developing Asia's exports and growth. As a result, developing Asian countries are increasingly looking to the People's Republic of China (PRC) as a new source of demand and...

The 1997/98 Asian currency crisis has led a once high-flying East Asia to realize its vulnerability to external shocks. This realization has given strong impetus to greater economic integration among East Asian economies, with the ASEAN-Korea Free Trade Area (AKFTA) a case in point. This paper...

Expanding trade with East Asia’s "Big Three" economic giants—the People’s Republic of China (PRC), Japan, and the Republic of Korea—offers a new potential source of growth for ASEAN in the post-global-crisis period. In fact, ASEAN has been actively pursuing trade liberalization with the...

The literature has been showing that current import tariffs on industrialized products in Brazil are excessively high when compared to countries with similar income per capita. But there's a controversy over the best path to reduce the level of protection, whether through an unilateral tariff...

The recession in the United States in the wake of the global financial crisis has had a pronounced negative impact on developing Asia's exports and growth. As a result, developing Asian countries are increasingly looking to the People's Republic of China (PRC) as a new source of demand and...

The role of the People’s Republic of China (PRC) in East Asia’s recovery from the recent global financial and economic crisis highlighted the PRC’s growing role as an engine of growth for the region. From the viewpoint of the PRC, there are many potential gains from entering into free...

Krugman's (1979, 1980) monoplistic competition model of trade showed that countries with more similar per-capita GDP trade more with each other. Does this mean that developing countries shift trade towards developed countries as a result of high economic growth? The results reported in this...

The literature has been showing that current import tariffs on industrialized products in Brazil are excessively high when compared to countries with similar income per capita. But there's a controversy over the best path to reduce the level of protection, whether through an unilateral tariff...

This paper examines the short-term and long-run dynamics between per capita GDP growth and openness for 158 countries over the period 1970-2009. We use panel cointegration tests and panel error-correction models (ECM) in combination with GMM estimation to explore the causal relationship between...