Performance of Western Hemisphere Trading Blocs: A Cost-Corrected Gravity Approach
We study the performance of the four Western Hemisphere trading blocs during the period 1978-2001. For the North American Free Trade Agreement (NAFTA), trade integration outweighed trade diversion; for MERCOSUR, increased integration and trade diversion went hand in hand; for the Central American Co...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2004
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 04/109 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
| Zusammenfassung: | We study the performance of the four Western Hemisphere trading blocs during the period 1978-2001. For the North American Free Trade Agreement (NAFTA), trade integration outweighed trade diversion; for MERCOSUR, increased integration and trade diversion went hand in hand; for the Central American Common Market (CACM) and the Andean Community, the evidence points to trade diversion only. We also find that trade among neighboring countries has increased since the early 1990s. The estimations are based on a nonlinear gravity equation that incorporates the hypothesis that exports create externalities that affect trade costs. This hypothesis might help reconcile the theoretical unitary income elasticity with most empirical findings of a non-unitary income elasticity in studies using the gravity equation |
| Beschreibung: | 1 Online-Ressource (24 p) |
| ISBN: | 1451853246 9781451853247 |
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| index_date | 2024-07-03T20:13:29Z |
| indexdate | 2024-07-10T09:35:38Z |
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| series2 | IMF Working Papers |
| spelling | Croce, Enzo Verfasser aut Performance of Western Hemisphere Trading Blocs A Cost-Corrected Gravity Approach Croce, Enzo Washington, D.C International Monetary Fund 2004 1 Online-Ressource (24 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 04/109 We study the performance of the four Western Hemisphere trading blocs during the period 1978-2001. For the North American Free Trade Agreement (NAFTA), trade integration outweighed trade diversion; for MERCOSUR, increased integration and trade diversion went hand in hand; for the Central American Common Market (CACM) and the Andean Community, the evidence points to trade diversion only. We also find that trade among neighboring countries has increased since the early 1990s. The estimations are based on a nonlinear gravity equation that incorporates the hypothesis that exports create externalities that affect trade costs. This hypothesis might help reconcile the theoretical unitary income elasticity with most empirical findings of a non-unitary income elasticity in studies using the gravity equation Online-Ausg Juan-Ramon, V. Hugo Sonstige oth Zhu, Feng Sonstige oth http://elibrary.imf.org/view/IMF001/05218-9781451853247/05218-9781451853247/05218-9781451853247.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Croce, Enzo Performance of Western Hemisphere Trading Blocs A Cost-Corrected Gravity Approach |
| title | Performance of Western Hemisphere Trading Blocs A Cost-Corrected Gravity Approach |
| title_auth | Performance of Western Hemisphere Trading Blocs A Cost-Corrected Gravity Approach |
| title_exact_search | Performance of Western Hemisphere Trading Blocs A Cost-Corrected Gravity Approach |
| title_exact_search_txtP | Performance of Western Hemisphere Trading Blocs A Cost-Corrected Gravity Approach |
| title_full | Performance of Western Hemisphere Trading Blocs A Cost-Corrected Gravity Approach Croce, Enzo |
| title_fullStr | Performance of Western Hemisphere Trading Blocs A Cost-Corrected Gravity Approach Croce, Enzo |
| title_full_unstemmed | Performance of Western Hemisphere Trading Blocs A Cost-Corrected Gravity Approach Croce, Enzo |
| title_short | Performance of Western Hemisphere Trading Blocs |
| title_sort | performance of western hemisphere trading blocs a cost corrected gravity approach |
| title_sub | A Cost-Corrected Gravity Approach |
| url | http://elibrary.imf.org/view/IMF001/05218-9781451853247/05218-9781451853247/05218-9781451853247.xml |
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