Asian regionalism and its effects on trade in the 1980s and 1990s

This paper begins by outlining the major preferential trade agreements (PTAs) in Asia and other regions and reviewing trends in trade flows. The paper uses a gravity model augmented with several sets of dummy variables to estimate the effect of various PTAs on trade flows within and across membershi...

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Bibliographic Details
Published inJournal of Asian economics Vol. 14; no. 1; pp. 91 - 129
Main Authors Clarete, Ramon, Edmonds, Christopher, Wallack, Jessica Seddon
Format Journal Article
LanguageEnglish
Published Greenwich Elsevier Inc 01.02.2003
Elsevier
Elsevier Science Ltd
SeriesJournal of Asian Economics
Subjects
Asia including Middle East
Economic Integration
Economic models
Estimating techniques
International Economic Order
Regional Development Policy
Regionalism
Studies
Trade agreements
Trade Forecasting and Simulation
Trade Negotiations
Trade Policy
Asia
Trade Forecasting and Simulation
Economic Integration
International Economic Order
Trade Negotiations
Regional Development Policy
Asia including Middle East
Trade Policy
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Summary:This paper begins by outlining the major preferential trade agreements (PTAs) in Asia and other regions and reviewing trends in trade flows. The paper uses a gravity model augmented with several sets of dummy variables to estimate the effect of various PTAs on trade flows within and across membership groupings as well as the effect of PTAs on members’ trade with Asian countries. On the basis of these estimates, we are able to categorize 11 major PTAs into those that increase intrabloc trade at the expense of their respective imports from the rest of the world; those that expand their respective trade among their members without reducing their trade with nonmembers; and those that reduce trade with nonmembers without significant changes in intrabloc trade. The authors also show that PTAs have augmented trade in Asia.
ISSN:1049-0078
1873-7927
DOI:10.1016/S1049-0078(02)00242-7