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Non-Economic Engagement and International Exchange: The Case of Environmental Treaties

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Author Info
Rose, Andrew K
Spiegel, Mark

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Abstract

We examine the role of non-economic partnerships in promoting international economic exchange. Since far-sighted countries are more willing to join costly international partnerships such as environmental treaties, environmental engagement tends to encourage international lending. Countries with such non-economic partnerships also find it easier to engage in economic exchanges since they face the possibility that debt default might also spill over to hinder their non-economic relationships. We present a theoretical model of these ideas, and then verify their empirical importance using a bilateral cross-section of data on international cross-holdings of assets and environmental treaties. Our results support the notion that international environmental cooperation facilitates economic exchange.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 5942.

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Date of creation: Nov 2006
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Handle: RePEc:cpr:ceprdp:5942

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Related research
Keywords: arrangement; assets; debt; discount; empirical; partnership; reputation; theory;

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Find related papers by JEL classification:
F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
F10 - International Economics - - Trade - - - General
F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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  15. Ronald B. Davies & Helen T. Naughton, 2003. "Cooperation in Environmental Policy: A Spatial Approach," University of Oregon Economics Department Working Papers 2006-18, University of Oregon Economics Department, revised 10 Jun 2003. [Downloadable!]
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  19. Eaton, Jonathan, 1996. "Sovereign Debt, Reputation and Credit Terms," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 1(1), pages 25-35, January. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Michael Tomz & Mark L. J. Wright, 2008. "Sovereign Theft: Theory And Evidence About Sovereign Default And Expropriation," CAMA Working Papers 2008-07, Australian National University, Centre for Applied Macroeconomic Analysis. [Downloadable!]
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