While there is an extensive amount of literature on the noodle bowl of agreements in Asia, the majority of studies exclusively focus on trade (in goods). So far, little emphasis has been placed on the proliferation of international investment treaties (IIAs). Given the significance of IIAs, it...

International trade and fragmentation of production lead to increased trade in intermediate goods. Increased multi-stage production promotes the formation of free-trade agreements (FTA). In this paper, the relationship between intermediates trade and FTAs is examined with a two-step Pseudo...