In the past, regional trade arrangements (RTAs) among developing countries have not lived up to the hopes of proponents as vehicles for promoting efficient industrialization. Newer approaches, notably including low tariffs for countries outside the RTA, have more promise. RTAs with developed countries also are more likely to produce favorable results. Therefore, USAID should approach supporting...

Does a monetary union need fiscal shock absorbers helping the participating countries to cope with asymmetric shocks? The consensus in the debate over EMU argues that the answer is yes. In this paper, we revisit the issue, building on a dynamic, general equilibrium framework of regions in a monetary union exposed to asymmetric shocks. We show that inter-regional taxes and transfers can stabiliz...

The purpose of lhe present study is to identify reasons for lhe current tendency of states to engage in political integration. The propensity ro forgo national sovereignty in exchange for free-trade agreements and membership in regional IGO contradicts Waltz' (1979, p. l05) statement that such developments are often talked about but seldom realized. On the contrary, the opposite holds true for ...

T he main objective of this paper was the investigation of the impact of the trade openness on economic growth in Pakistan. We have been employed both the Johensen and Autoregressive Distributed Lag (ARDL) Co-integration together with ECM Techniques for the period 1975-2016. The empirical estimated results are the sound evidence that there exists a short...

ASEAN has gone a long way in deepening its regional economic cooperation, particularly trade liberalization. However, comparatively less intraregional than the European Union, whose integration model they aspire to emulate. As reducing tariffs was no longer an efficient increase trade, this study analyzes logistics performance as another factor that may affect trade. Using gravity with bilatera...

The construction of Hainan Free Trade Port has a significant impact on the development foreign trade in new era. Relying regional advantages, we should do good job superposition and integration free port policy system RCEP, so that can play pivotal role market connectivity, industrial integration, rule convergence, factor allocation between China ASEAN, become an important intersection two mark...

Among non-oil exports and in trade arena, drug has always been strategic importance and most government especially industrialized countries pay special attention to its production and trade issues. Thus, having a comprehensive view from economic perspective to this section is essential for suggesting intervention. This was a descriptive-analytical and panel study. In this study, gravity model i...

EU enlargement revives the debate around the participation to the EMU. We use a gravity model to see whether informal barriers have changed over a ten-year period covering the creation of the EMU, and whether their impact on European member countries’ agricultural and food trade has been modified. We find that it has led to lower information costs. We observe a diminishing marginal trade impact...