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Asian Regionalism and Its Effects on Trade in the 1980s and 1990s

Author

Listed:
  • Clarete, Ramon L.

    (University of the Philippines)

  • Edmonds, Christopher

    (Asian Development Bank)

  • Wallack, Jessica Seddon

    (Stanford University)

Abstract

This paper begins by outlining the major preferential trade agreements (PTAs) in Asia and other regions and reviewing trends in trade flows. The paper uses a gravity model augmented with several sets of dummy variables to estimate the effect of various PTAs on trade flows within and across membership groupings as well as the effect of PTAs on members' trade with Asian countries. On the basis of these estimates, we are able to categorize 11 major PTAs into those that increase intrabloc trade at the expense of their respective imports from the rest of the world; those that expand their respective trade among their members without reducing their trade with nonmembers; and those that reduce trade with nonmembers without significant changes in intrabloc trade. The authors also show that PTAs have augmented trade in Asia.

Suggested Citation

  • Clarete, Ramon L. & Edmonds, Christopher & Wallack, Jessica Seddon, 2002. "Asian Regionalism and Its Effects on Trade in the 1980s and 1990s," ADB Economics Working Paper Series 30, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0030
    as

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    References listed on IDEAS

    as
    1. Soloaga, Isidro & Alan Wintersb, L., 2001. "Regionalism in the nineties: what effect on trade?," The North American Journal of Economics and Finance, Elsevier, vol. 12(1), pages 1-29, March.
    2. Arvind Panagariya, 1994. "East Asia and the New Regionalism in World Trade," The World Economy, Wiley Blackwell, vol. 17(6), pages 817-839, November.
    3. Michalopoulos, Constantine, 1999. "The integration of transition economies into the world trading system," Policy Research Working Paper Series 2182, The World Bank.
    4. Schiff, Maurice, 1997. "Small is Beautiful: Preferential Trade Agreements and the Impact of Country Size, Market Share, and Smuggling," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 12, pages 359-387.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Asia; gravity model; preferential trade agreements; trade flows; trends;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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