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Trade flows: a facet of regionalism or globalisation?

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  • Georgios E. Chortareas
  • Theodore Pelagidis

Abstract

This paper examines the evidence about the extent of globalisation by focusing on some aspects of international trade flows. A reinterpretation of the existing evidence based on the analysis of tables and a range of indicators is provided in the first part of the paper. The focus is on whether the increase in trade flows has been predominantly a global or regional phenomenon. The analysis points to the tentative conclusion that the dominant tendency is the increase in trade within regional blocs (North America, the EU and the Asia--Japan blocs) rather than across them. To address the same question, a more formal analysis is undertaken in the second part of the paper, by focusing on the relative speed of the convergence in openness within and across regions of the world. Our results indicate that the degree of openness converges faster across the countries of a given region rather than at the global level, reinforcing the conclusions from the first part of the paper. The results are consistent with the view that trade integration is more of a 'regional' phenomenon than a 'global' one. Copyright 2004, Oxford University Press.

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Bibliographic Info

Article provided by Oxford University Press in its journal Cambridge Journal of Economics.

Volume (Year): 28 (2004)
Issue (Month): 2 (March)
Pages: 253-271

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Handle: RePEc:oup:cambje:v:28:y:2004:i:2:p:253-271

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Cited by:
  1. Cristian SPIRIDON, 2012. "World Trade Liberalisation Since The Xixth Century Up To Date," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 9, pages 205-216, June.
  2. Taun N. Toay & Theodore Pelagidis, 2006. "Expensive Living: The Greek Experience under the Euro," Economics Working Paper Archive wp_484, Levy Economics Institute.
  3. repec:spo:wpecon:info:hdl:2441/5l6uh8ogmqildh09h4dj9499g is not listed on IDEAS
  4. repec:spo:wpecon:info:hdl:2441/9541 is not listed on IDEAS
  5. Guillaume Daudin & Christine Rifflart & Danielle Schweisguth, 2008. "Value-Added Trade and Regionalization. GTAP Eleventh Annual Conference 'Future of Global Economy', Helsinki, Finland," Sciences Po publications info:hdl:2441/9541, Sciences Po.
  6. Zhen Zhu & Federica Cerina & Alessandro Chessa & Guido Caldarelli & Massimo Riccaboni, 2014. "The rise of China in the international trade network: a community core detection approach," Working Papers 4/2014, IMT Institute for Advanced Studies Lucca, revised Apr 2014.
  7. Guillaume Daudin & Christine Rifflart & Danielle Schweisguth, 2011. "Who Produces for Whom in the World Economy?," Post-Print halshs-00924985, HAL.

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