Trade diversion in a currency union
نویسندگان
چکیده
منابع مشابه
1 Does a Currency Union affect Trade ?
Does leaving a currency union reduce international trade? We answer this question using a large annual panel data set covering 217 countries from 1948 through 1997. During this sample a large number of countries left currency unions; they experienced economically and statistically significant declines in bilateral trade, after accounting for other factors. Assuming symmetry, we estimate that a ...
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In recent years, there has been an increasing interest in currency :union:s internationally. The formation of currency :union: in Organization of Islamic Cooperation (OIC) has drawn much attention of Islamic countries. This paper aims to investigate the effect of currency :union: formation for trade among 49 Islamic countries over the period 1990-2012 by OCA and Augmented Gravity Model (AGM). T...
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Does leaving a currency union reduce international trade? We answer this question using a large annual panel data set covering 217 countries from 1948 through 1997. During this sample a large number of countries left currency unions; they experienced economically and statistically significant declines in bilateral trade, after accounting for other factors. Assuming symmetry, we estimate that a ...
متن کاملReconsidering the Trade-Creating Effects of the Currency Union
Countries select particular exchange rate arrangements for a variety of reasons. For example, the ability to conduct an independent monetary policy is often cited as the main advantage of having a floating exchange rate regime. Conversely, countries sometimes tie their exchange rate to that of a larger country—foregoing the ability to conduct independent monetary policies—to benefit from the re...
متن کاملHoney, the Currency Union Effect on Trade hasn’t Blown Up
where I follow Nitsch in defining Tijt as the value of real bilateral trade between “countries” i and j at time t, CU is a dummy variable which is unity if i and j share the same currency at time t, Z is a vector of controls given by an augmented gravity model, γ are the associate nuisance coefficients, and ε is a (hopefully) well-behaved residual. My chief finding was that β was large and robu...
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ژورنال
عنوان ژورنال: Open Economies Review
سال: 1994
ISSN: 0923-7992,1573-708X
DOI: 10.1007/bf01000742