We examine the composition of bilateral trade between the United States and each of eight Asian Pacific economies from 1962 to 1992. Two complementary time series analyses of individual commodities at the SITC four-digit level indicate that significant change occurred in trade composition during this period. For the eight bilateral trade relationships, commodities representing from fifty to seventy percent of 1992 dollar trade volume have shown statistically significant change in the magnitude and, in some cases, in the direction of net trade balance, over the thirty-year period. Results support the conclusion that changes in trade patterns in both low-tech industries, such as textiles and clothing, and more high-tech industries, such as electronic parts and electronic goods were important in these so-called Asian tigers as their economies advanced. Keywords: international trade flows, time series, ADF, KPSS, trends, economic development JEL Codes: F02, F14, F17, O14
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Paper provided by EconWPA in its series International Trade with number
0412003.
Find related papers by JEL classification: F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General F14 - International Economics - - Trade - - - Country and Industry Studies of Trade F17 - International Economics - - Trade - - - Trade Forecasting and Simulation O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
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