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Gradualism and dynamic trade adjustment: Revisiting the pro-trade effect of free trade agreements

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  • Jung, Benjamin

Abstract

Do pro-trade effects of free trade agreements reflect timing of policy or dynamic trade adjustment? Only the latter involves dynamic welfare gains. I find that dynamic trade adjustment is as important as the immediate impact effect of free trade agreements.

Suggested Citation

  • Jung, Benjamin, 2012. "Gradualism and dynamic trade adjustment: Revisiting the pro-trade effect of free trade agreements," Economics Letters, Elsevier, vol. 115(1), pages 63-66.
  • Handle: RePEc:eee:ecolet:v:115:y:2012:i:1:p:63-66
    DOI: 10.1016/j.econlet.2011.12.013
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    References listed on IDEAS

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    1. Baldwin, Richard E, 1992. "Measurable Dynamic Gains from Trade," Journal of Political Economy, University of Chicago Press, vol. 100(1), pages 162-174, February.
    2. Luis Araujo & Emanuel Ornelas, 2005. "Trust-Based Trade," IBMEC RJ Economics Discussion Papers 2005-08, Economics Research Group, IBMEC Business School - Rio de Janeiro.
    3. Benjamin Jung, 2009. "Adjustment Dynamics of Bilateral Trade Flows: Theory and Evidence," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 145(IV), pages 421-442, December.
    4. David Roodman, 2009. "A Note on the Theme of Too Many Instruments," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 71(1), pages 135-158, February.
    5. Baier, Scott L. & Bergstrand, Jeffrey H., 2007. "Do free trade agreements actually increase members' international trade?," Journal of International Economics, Elsevier, vol. 71(1), pages 72-95, March.
    6. Anderson, T. W. & Hsiao, Cheng, 1982. "Formulation and estimation of dynamic models using panel data," Journal of Econometrics, Elsevier, vol. 18(1), pages 47-82, January.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. repec:ces:ifofob:85 is not listed on IDEAS
    2. repec:ces:ifofob:88 is not listed on IDEAS
    3. Gabriel Felbermayr & Jasmin Katrin Gröschl, 2017. "Freihandel von Lissabon bis Wladiwostok," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 70(02), pages 39-50, January.
    4. Gabriel Felbermayr & Jasmin Katrin Gröschl & Inga Heiland, 2018. "Undoing Europe in a New Quantitative Trade Model," ifo Working Paper Series 250, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    5. Gabriel Felbermayr & Rahel Aichele & Jasmin Katrin Gröschl, 2017. "Freihandel von Lissabon nach Wladiwostok: wem nutzt, wem schadet ein eurasisches Freihandelsabkommen?," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 79, October.
    6. Gabriel Felbermayr & Devashish Mitra & Rahel Aichele & Jasmin Katrin Gröschl, 2017. "Europe and India: Relaunching a Troubled Trade Relationship," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 80, October.
    7. repec:ces:ifofob:89 is not listed on IDEAS

    More about this item

    Keywords

    International bilateral trade; Free trade agreements; Trust; Dynamic panel data;

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration

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