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Has Japan Been Left Out in the Cold by Regional Integration?

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  • Wall, Howard-J

    (Federal Reserve Bank of St Louis)

Abstract

Despite the ongoing worldwide trend toward regional integration, Japan has remained outside of all regional trading agreements. Because more than 60 percent of Japan's trade is with countries that are members of a major regional bloc, this reluctance may have had significant effects on its pattern and volume of trade. Indeed, I find that Japan's exports have been reduced by the integration of its trading partners, and that this effect has been fairly uniform across integration regimes. I also find that regional trading agreements have tended to have a much more negative effect on Japanese trade than on the trade of other nonmembers.

Suggested Citation

  • Wall, Howard-J, 2002. "Has Japan Been Left Out in the Cold by Regional Integration?," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 20(2), pages 117-134, April.
  • Handle: RePEc:ime:imemes:v:20:y:2002:i:2:p:117-134
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    References listed on IDEAS

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    Cited by:

    1. repec:rge:journl:v:5:y:2017:i:2:p:93-107 is not listed on IDEAS
    2. Okubo, Toshihiro, 2004. "The border effect in the Japanese market: A Gravity Model analysis," Journal of the Japanese and International Economies, Elsevier, vol. 18(1), pages 1-11, March.
    3. Fukao, Kyoji & Okubo, Toshihiro & Stern, Robert M., 2003. "An econometric analysis of trade diversion under NAFTA," The North American Journal of Economics and Finance, Elsevier, vol. 14(1), pages 3-24, March.
    4. I-Hui Cheng & Howard J. Wall, 2005. "Controlling for heterogeneity in gravity models of trade and integration," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 49-63.
    5. Peter Egger, 2004. "Estimating regional trading bloc effects with panel data," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 140(1), pages 151-166, March.

    More about this item

    JEL classification:

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

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