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Measuring and explaining levels of regional economic integration

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  • Pédussel Wu, Jennifer
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    Abstract

    124 Regional Trade Agreements were notified to the GATT during the period 1948-1994. Since 1995, over 130 agreements have been notified to the WTO. Using empirical evidence, this paper proposes a way of measuring levels of regional integration and examines several potential explanations for the existence of different levels of regional economic integration. Using a database of regional integration where levels of integration are ranked across countries, a probit analysis in a discrete choice framework is applied. Common traits influencing regional integration decision-making were examined to determine those most influential. It is concluded that democracy and economic freedom, are significant contributors to the chosen level of regional integration. The role of political and economic uncertainty is examined and it is found that trade uncertainty is also a significant contributing factor. --

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    Bibliographic Info

    Paper provided by ZEI - Center for European Integration Studies, University of Bonn in its series ZEI Working Papers with number B 12-2004.

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    Date of creation: 2004
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    Handle: RePEc:zbw:zeiwps:b122004

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    Related research

    Keywords: Regional Economic Integration; Ordered-Probit Estimation; Uncertainty;

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    References

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    1. Graham Bird & Ramkishen Rajan, 2002. "The Political Economy of A Trade-First Approach to Regionalism," Centre for International Economic Studies Working Papers 2002-18, University of Adelaide, Centre for International Economic Studies.
    2. Carlo Perroni & John Whalley, 1994. "The New Regionalism: Trade Liberalization or Insurance?," NBER Working Papers 4626, National Bureau of Economic Research, Inc.
    3. David Romer, 1991. "Openness and inflation: theory and evidence," Proceedings, Federal Reserve Bank of San Francisco, issue Nov.
    4. Park, Donghyun, 1999. "The Prospects for Further Economic Integration in ASEAN," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 14, pages 382-418.
    5. John Whalley, 1996. "Why Do Countries Seek Regional Trade Agreements?," NBER Working Papers 5552, National Bureau of Economic Research, Inc.
    6. Ethier, Wilfred J, 1998. "The New Regionalism," Economic Journal, Royal Economic Society, vol. 108(449), pages 1149-61, July.
    7. Brownstone, David & Golob, Thomas F., 1992. "The Effectiveness of Ridesharing Incentives: Discrete-choice Models of Commuting in Southern California," University of California Transportation Center, Working Papers qt0w0518qd, University of California Transportation Center.
    8. Mansfield, Edward D. & Milner, Helen V. & Rosendorff, B. Peter, 2002. "Why Democracies Cooperate More: Electoral Control and International Trade Agreements," International Organization, Cambridge University Press, vol. 56(03), pages 477-513, June.
    9. Brownstone, David & Golob, Thomas F., 1992. "The effectiveness of ridesharing incentives: Discrete-choice models of commuting in Southern California," Regional Science and Urban Economics, Elsevier, vol. 22(1), pages 5-24, March.
    10. Pédussel Wu, Jennifer, 2002. "Trade agreements as self-protection," ZEI Working Papers B 29B-2002, ZEI - Center for European Integration Studies, University of Bonn.
    11. Fernandez, Raquel & Portes, Jonathan, 1998. "Returns to Regionalism: An Analysis of Nontraditional Gains from Regional Trade Agreements," World Bank Economic Review, World Bank Group, vol. 12(2), pages 197-220, May.
    12. Becker, William E. & Kennedy, Peter E., 1992. "A Graphical Exposition of the Ordered Probit," Econometric Theory, Cambridge University Press, vol. 8(01), pages 127-131, March.
    13. Baier, Scott L. & Bergstrand, Jeffrey H., 2004. "Economic determinants of free trade agreements," Journal of International Economics, Elsevier, vol. 64(1), pages 29-63, October.
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    Cited by:
    1. Richard Baldwin & Dany Jaimovich, 2010. "Are Free Trade Agreements Contagious?," NBER Working Papers 16084, National Bureau of Economic Research, Inc.
    2. Baldwin, Richard & Rieder, Roland, 2007. "A Test of Endogenous Trade Bloc Formation Theory on EU Data," CEPR Discussion Papers 6389, C.E.P.R. Discussion Papers.
    3. Roland Rieder, 2006. "Playing Dominoes in Europe: An Empirical Analysis of the Domino Theory for the EU, 1962-2004," IHEID Working Papers 11-2006, Economics Section, The Graduate Institute of International Studies, revised Jun 2006.
    4. Laura Márquez-Ramos & Inmaculada Martínez-Zarzoso & Celestino Suárez-Burguet, 2011. "Determinants of Deep Integration: Examining Socio-political Factors," Open Economies Review, Springer, vol. 22(3), pages 479-500, July.

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