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Have Asian trade agreements reduced trade costs?

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Author Info

  • Pomfret, Richard
  • Sourdin, Patricia

Abstract

Regionalization of trade in East Asia increased in the 1990s, and has been accompanied by a growing number of trade agreements. The wave of trade agreements is in part a response to the need to facilitate trade in order to make regional value chains more profitable. This paper draws on a rich Australian database for the period 1990-2007, which allows us to control for distance and commodity characteristics and to identify cross-country variation in trade costs. The results, indicating the extent to which East Asian countries' trade costs have fallen over the regionalization period relative to changes in other regions' trade costs, provide evidence of the existence of effective policy steps to facilitate trade and also that these steps have multilateral as well as bilateral or regional benefits.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Asian Economics.

Volume (Year): 20 (2009)
Issue (Month): 3 (May)
Pages: 255-268

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Handle: RePEc:eee:asieco:v:20:y:2009:i:3:p:255-268

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Web page: http://www.elsevier.com/locate/asieco

Related research

Keywords: Trade facilitation ASEAN;

References

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  1. Jianhong Zhang & Arjen van Witteloostuijn & Chaohong Zhou, 2005. "Chinese Bilateral Intra-Industry Trade: A Panel Data Study for 50 Countries in the 1992–2001 Period," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 141(3), pages 510-540, October.
  2. Carolyn L. Evans & James Harrigan, 2005. "Distance, Time, and Specialization: Lean Retailing in General Equilibrium," American Economic Review, American Economic Association, vol. 95(1), pages 292-313, March.
  3. David Hummels & Georg Schaur, 2012. "Time as a Trade Barrier," NBER Working Papers 17758, National Bureau of Economic Research, Inc.
  4. James E. Anderson & Eric van Wincoop, 2004. "Trade Costs," Boston College Working Papers in Economics 593, Boston College Department of Economics.
  5. Haddad, Mona, 2007. "Trade integration in East Asia : the Role of China and production networks," Policy Research Working Paper Series 4160, The World Bank.
  6. Ximena Clark & David Dollar & Alejandro Micco, 2004. "Port Efficiency, Maritime Transport Costs and Bilateral Trade," NBER Working Papers 10353, National Bureau of Economic Research, Inc.
  7. Jeffrey Frankel & Miles Kahler, 1993. "Regionalism and Rivalry: Japan and the United States in Pacific Asia," NBER Books, National Bureau of Economic Research, Inc, number fran93-1, May.
  8. Manchin, Miriam & Pelkmans-Balaoing, Annette O., 2008. "Clothes without an Emperor: Analysis of the preferential tariffs in ASEAN," Journal of Asian Economics, Elsevier, vol. 19(3), pages 213-223, June.
  9. Richard Pomfret, 2004. "Sequencing Trade and Monetary Integration: Issues and Applications to Asia," School of Economics Working Papers 2004-14, University of Adelaide, School of Economics.
  10. David Hummels & Volodymyr Lugovskyy & Alexandre Skiba, 2007. "The Trade Reducing Effects of Market Power in International Shipping," NBER Working Papers 12914, National Bureau of Economic Research, Inc.
  11. Mitsuyo Ando & Fukinari Kimura, 2003. "The Formation of International Production and Distribution Networks in East Asia," NBER Working Papers 10167, National Bureau of Economic Research, Inc.
  12. Xing, Yuqing, 2007. "Foreign direct investment and China's bilateral intra-industry trade with Japan and the US," Journal of Asian Economics, Elsevier, vol. 18(4), pages 685-700, August.
  13. Richard Pomfret & Patricia Sourdin, 2008. "Why Do Trade Costs Vary?," School of Economics Working Papers 2008-08, University of Adelaide, School of Economics.
  14. Richard Pomfret, 2006. "Is Regionalism an Increasing Feature of the World Economy?," The Institute for International Integration Studies Discussion Paper Series iiisdp164, IIIS.
  15. David Hummels, 2007. "Transportation Costs and International Trade in the Second Era of Globalization," Journal of Economic Perspectives, American Economic Association, vol. 21(3), pages 131-154, Summer.
  16. David Hummels & Volodymyr Lugovskyy, 2006. "Are Matched Partner Trade Statistics a Usable Measure of Transportation Costs?," Review of International Economics, Wiley Blackwell, vol. 14(1), pages 69-86, 02.
  17. Jeffrey A. Frankel & Miles Kahler, 1993. "Introduction to "Regionalism and Rivalry: Japan and the United States in Pacific Asia"," NBER Chapters, in: Regionalism and Rivalry: Japan and the United States in Pacific Asia, pages 1-18 National Bureau of Economic Research, Inc.
  18. Ng, Francis & Yeats, Alexander, 2003. "Major trade trends in East Asia : what are their implications for regional cooperation and growth," Policy Research Working Paper Series 3084, The World Bank.
  19. Kimura, Fukunari & Takahashi, Yuya & Hayakawa, Kazunobu, 2007. "Fragmentation and parts and components trade: Comparison between East Asia and Europe," The North American Journal of Economics and Finance, Elsevier, vol. 18(1), pages 23-40, February.
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Citations

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Cited by:
  1. Hamanaka, Shintaro, 2011. "Utilizing the Multiple Mirror Technique to Assess the Quality of Cambodian Trade Statistics," Working Papers on Regional Economic Integration 88, Asian Development Bank.
  2. Miroudot, Sebastien & Shepherd, Ben, 2012. "The paradox of “preferences”: regional trade agreements and trade costs in services," MPRA Paper 41090, University Library of Munich, Germany.
  3. Kimura, Fukunari & Obashi, Ayako, 2011. "Production Networks in East Asia: What We Know So Far," ADBI Working Papers 320, Asian Development Bank Institute.
  4. Richard Pomfret & Patricia Sourdin, 2008. "Why Do Trade Costs Vary?," School of Economics Working Papers 2008-08, University of Adelaide, School of Economics.
  5. Shepherd, Ben, 2010. "Trade costs and facilitation in APEC and ASEAN: Delivering the goods?," MPRA Paper 21531, University Library of Munich, Germany.
  6. Richard Pomfret & Patricia Sourdin, 2010. "Trade Facilitation And The Measurement Of Trade Costs," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 1(01), pages 145-163.
  7. Shintaro Hamanaka & Romana Domingo, 2012. "Measuring Long-Term Commodity-Level Trade Costs: The Case Of Asia," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 3(02), pages 1250014-1-1.
  8. Richard Pomfret, 2011. "Global Crises, Fiscal Imbalances and Global Instability: Interests and Reactions of Asian Economies," School of Economics Working Papers 2011-33, University of Adelaide, School of Economics.
  9. Prema-chandra Athukorala, 2009. "The Rise of China and East Asian Export Performance: Is the Crowding-Out Fear Warranted?," The World Economy, Wiley Blackwell, vol. 32(2), pages 234-266, 02.
  10. Richard Pomfret, 2012. "The Post-2007 Crises and Europe's Place in the Global Economy," CASE Network Studies and Analyses 439, CASE-Center for Social and Economic Research.
  11. Richard Pomfret, 2009. "Regionalism in the Asia-Pacific Region: How Wide, How Deep?," School of Economics Working Papers 2009-31, University of Adelaide, School of Economics.
  12. Pomfret, Richard, 2014. "Trade costs and agricultural trade in Central Asia," IAMO Discussion Papers 146, Leibniz Institute of Agricultural Development in Central and Eastern Europe (IAMO).

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