The effects of the GSTP on trade flow: mission accomplished?
This paper investigates whether the Global System of Trade Preferences among developing countries (GSTP) achieves its intent to increase the trade of capital goods between member countries. For this purpose, trade data disaggregated by the degree of commodity differentiation and various GSTP regional dummies are employed in a gravity equation. Estimation results say that the value of trade between GSTP member countries has increased significantly since the formation of the GSTP in 1989, and the trade of differentiated commodities has increased remarkably compared with other commodities. Therefore, it can be asserted that the mission of the GSTP has been accomplished successfully.
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Volume (Year): 37 (2005)
Issue (Month): 5 ()
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References listed on IDEAS
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- Linnemann, H. & Verbruggen, H., 1988.
"GSTP tariff reduction and its effects on South-South trade in manufactures,"
Serie Research Memoranda
0044, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Linnemann, Hans & Verbruggen, Harmen, 1991. "GSTP tariff reduction and its effects on south-south trade in manufactures," World Development, Elsevier, vol. 19(5), pages 539-551, May.
- Jeffrey A. Frankel and Shang-Jin Wei., 1993.
"Emerging Currency Blocs,"
Center for International and Development Economics Research (CIDER) Working Papers
C93-026, University of California at Berkeley.
- Frankel, Jeffrey & Stein, Ernesto & Wei, Shang-jin, 1995. "Trading blocs and the Americas: The natural, the unnatural, and the super-natural," Journal of Development Economics, Elsevier, vol. 47(1), pages 61-95, June.
- Jeffrey A. Frankel, 1997. "Regional Trading Blocs in the World Economic System," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 72, December.
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