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Transparency, trade costs, and regional integration in the Asia Pacific

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Author Info

  • Helble, Matthias
  • Shepherd, Ben
  • Wilson, John S.

Abstract

The authors show in this paper that increasing the transparency of the trading environment can be an important complement to traditional liberalization of tariff and non-tariff barriers. Our definition of transparency is grounded in a transaction cost analysis. The authors focus on two dimensions of transparency: predictability (reducing the cost of uncertainty) and simplification (reducing information costs). Using the Asia Pacific Economic Cooperation (APEC) member economies as a case study, the authors construct indices of importer and exporter transparency for the region from a wide range of sources. Our results from a gravity model suggest that improving trade-related transparency in APEC could hold significant benefits by raising intra-APEC trade by proximately USD 148 billion or 7.5 pecent of baseline trade in the region.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 4401.

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Date of creation: 01 Nov 2007
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Handle: RePEc:wbk:wbrwps:4401

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Related research

Keywords: Economic Theory&Research; Free Trade; Emerging Markets; Debt Markets; Trade Policy;

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References

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  1. Santos Silva, Joao & Tenreyro, Silvana, 2005. "The Log of Gravity," CEPR Discussion Papers 5311, C.E.P.R. Discussion Papers.
  2. Rauch, James E., 1999. "Networks versus markets in international trade," Journal of International Economics, Elsevier, vol. 48(1), pages 7-35, June.
  3. Carolyn Evans & James Harrigan, 2003. "Distance, time, and specialization," International Finance Discussion Papers 766, Board of Governors of the Federal Reserve System (U.S.).
  4. Thierry Mayer & Soledad Zignago, 2011. "Notes on CEPII’s distances measures: The GeoDist database," Working Papers 2011-25, CEPII research center.
  5. Joseph Francois & Miriam Manchin, 2007. "Institutions, Infrastructure and Trade," Development Working Papers 224, Centro Studi Luca d\'Agliano, University of Milano.
  6. Richard Baldwin & Daria Taglioni, 2006. "Gravity for Dummies and Dummies for Gravity Equations," NBER Working Papers 12516, National Bureau of Economic Research, Inc.
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  8. Kee, Hiau Looi & Nicita, Alessandro & Olarreaga, Marcelo, 2006. "Estimating Trade Restrictiveness Indices," CEPR Discussion Papers 5576, C.E.P.R. Discussion Papers.
  9. Henri L.F. de Groot & Gert-Jan Linders & Piet Rietveld & Uma Subramanian, 2003. "The Institutional Determinants of Bilateral Trade Patterns," Tinbergen Institute Discussion Papers 03-044/3, Tinbergen Institute, revised 30 Oct 2003.
  10. Narciso, Gaia & Smarzynska Javorcik, Beata, 2008. "Differentiated Products and Evasion of Import Tariffs," CEPR Discussion Papers 6804, C.E.P.R. Discussion Papers.
  11. Priya Ranjan & Jae Young Lee, 2007. "Contract Enforcement And International Trade," Economics and Politics, Wiley Blackwell, vol. 19(2), pages 191-218, 07.
  12. Jeffrey M Wooldridge, 2010. "Econometric Analysis of Cross Section and Panel Data," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262232588, December.
  13. John S. Wilson & Catherine L. Mann & Tsunehiro Otsuki, 2005. "Assessing the Benefits of Trade Facilitation: A Global Perspective," The World Economy, Wiley Blackwell, vol. 28(6), pages 841-871, 06.
  14. Francois, Joseph F, 2001. "Trade Policy Transparency and Investor Confidence: Some Implications for an Effective Trade Policy Review Mechanism," Review of International Economics, Wiley Blackwell, vol. 9(2), pages 303-16, May.
  15. Wolfe, Robert, 2003. "Regulatory transparency, developing countries and the WTO," World Trade Review, Cambridge University Press, vol. 2(02), pages 157-182, July.
  16. Freund, Caroline L. & Weinhold, Diana, 2004. "The effect of the Internet on international trade," Journal of International Economics, Elsevier, vol. 62(1), pages 171-189, January.
  17. Andrei A. Levchenko, 2007. "Institutional Quality and International Trade," Review of Economic Studies, Oxford University Press, vol. 74(3), pages 791-819.
  18. Jean-François Arvis & Gaël Raballand & Jean-François Marteau, 2010. "The Cost of Being Landlocked : Logistics Costs and Supply Chain Reliability," World Bank Publications, The World Bank, number 2489, October.
  19. Roberta Gatti, 2004. "Explaining corruption: are open countries less corrupt?," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(6), pages 851-861.
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Citations

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Cited by:
  1. Velea, Irina & Cadot, Olivier & Wilson, John S., 2010. "Do private inspection programs affect trade facilitation ?," Policy Research Working Paper Series 5515, The World Bank.
  2. Yann Duval & Chorthip Utoktham, 2010. "Intraregional Trade Costs in Asia-A Primer," Working Paper Series 110, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), revised Jan 2011.
  3. Joseph Francois & Miriam Manchin, 2007. "Institutions, Infrastructure, and Trade," IIDE Discussion Papers 20070401, Institue for International and Development Economics.
  4. Yann Duval & Chorthip Utoktham, 2009. "Behind-the-Border Trade Facilitation in Asia-Pacific: Cost of Trade, Credit Information, Contract Enforcement and Regulatory Coherence," Working Paper Series 209, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
  5. Vaqar, Ahmed & Ghulam, Samad, 2011. "Trade facilitation for economic corridors in South Asia: the perspective of Pakistan," MPRA Paper 31368, University Library of Munich, Germany.
  6. Prabir De, 2009. "Global economic and financial crisis: India’s trade potential and future prospects," Working Papers 6409, Asia-Pacific Research and Training Network on Trade (ARTNeT), an initiative of UNESCAP and IDRC, Canada..

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