The purpose of this paper is to examine the feature and the transition of trade in the Asia-Pacific region during the post-World War II period. The paper employs the gravity model with some regional dummy variables to estimate trade flows among 80 economies through temporal cross-section data...

The case is studied where several small countries, wanting to set second-best tariffs to maximize objective functions, move from the situation where they can set their most appropriate tariffs to the situation where they form a customs union. By dividing the overall effect of forming customs...