This study is a contribution to the debate on the relationship between FDI and growth. The idea that the alleged link between FDI and growth is rather the consequence of both FDI and growth responding endogenously to economic integration is tested empirically. The results confirm precisely this...

From a preferential tariff rate, ASEAN has decided to move to a free trade area by the first decade of the 21st century and the creation of an ASEAN economic region by the year 2020. Towards this end, member countries are expected to jointly address various trade concerns. Through unity and...

In open economies excess demand in the tradables sector often manfests itself in an external deficit instead of the employment gap that is applied in the usual Phillips-curve model. The inflationary pressure in this case arises from an expected or actual weakening of the exchange rate and its...

This paper presents a baseline model that illustrates the implications of Mutual Recognition Agreements (MRAs) for excluded nations. The model shows that MRAs can harm third country exports because of a trade-diversion effect. We use highly disaggregated trade data from developed and developing...

In the previous decades, the European Union (EU) has succeeded in integrating new member countries, in economic and in political respects. Three main reasons lie behind this successful integration process: First, the solidarity of richer EU members with their poorer counterparts, second, the...

The economies of Canada and the United States, closely linked for many years, began a formal process of tighter integration with the Canada–United States Free Trade Agreement (1989) and North American Free Trade Agreement (1994). Due to the ease of border crossing, American and Canadian...

This paper studies the impact of real effective exchange rate volatility on economic growth as well as the euro’s impact on real effective exchange rate volatility. We first show that after a plausible endogeneity correction, real effective exchange rate volatility is negatively associated...

The European Union and the United States of America present the world´s largest exporter and importer of goods, services and capital. The idea of increasing foreign trade between them based on the implementation of the lowest degree of economic integration, a free trade area, is not new. A...

В статье исследованы проблемы развития приграничного сотрудничества. Показана роль межгосударственных региональных образований в социально-экономическом...