In a sample that contains annual prices of 39 selected commodities in Britain and Germany in the period 1850 to 1913 substantial evidence of well integrated commodity markets is found. The degree of integration is not universal across markets and varies over time, however. Absolute price...

The role of direct flights in trade costs is investigated by introducing and using a micro price data set on 49 goods across 433 international cities covering 114 countries. It is shown that having at least one direct flight reduces trade costs by about 1,400 miles in distance equivalent terms,...

The aim of this paper is to apply recently developed panel cointegration techniques proposed by Pedroni (1999, 2004) to evaluate the effectiveness of various regional trade agreements by examine the goods market integration between trading partners using purchasing power parity (PPP). The...

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...

The paper proceeds as follows. Section I reviews the exchange rate policies that developing countries have been implementing since the Bretton Woods accord. The includes a recall of the exchange rate concept followed by the main characteristics of developing country economic structures and the...

The paper uses a full-scale CGE-model -calibrated on 1992 data- to investigate the effects of European integration on the location of industrial production. Our results reveal large differences among individual industries.

Current trade liberalization in Europe has stimulated the theoretical and empirical analysis of the effects of economic integration on industrial location. The aim of this paper is to analyse, both theoretically and empirically, the effects of trade liberalization and market integration in 19th...

We compare the convergence with German monetary policy of the Balkan and Mediterranean country candidates for EU membership with that of countries that have recently joined the EU. Significant linkages exist between German base money stock and that of recent members of the EU; the same holds...