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Declining Distance Effects In International Trade
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Book Synopsis Declining Distance Effects in International Trade by : Michael Bleaney
Download or read book Declining Distance Effects in International Trade written by Michael Bleaney and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technical progress can be expected to reduce transport costs over time, yet most studies of bilateral trade based on the gravity model find distance effects to be increasing rather than decreasing. We investigate countries' openness to international trade (the ratio of exports plus imports to GDP). We find that trade decreases with geographical remoteness, land area and lack of access to the sea, all of which are likely to be correlated with transport costs. In contrast to the results obtained with log-linear models of bilateral trade, distance effects (remoteness and land area) have declined over time. Trade decreases with population density and increases with improvements in the terms of trade, investment and a more liberal trade policy.
Book Synopsis Declining Distance Effects in International Trade by : Michael F. Bleaney
Download or read book Declining Distance Effects in International Trade written by Michael F. Bleaney and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On the Geography of Trade by : Céline Carrere
Download or read book On the Geography of Trade written by Céline Carrere and published by World Bank Publications. This book was released on 2004 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been widely argued that, with the decline in trade costs (e.g., transport and communication costs), the importance of distance has declined over time. This paper examines the evolution of the geographic profile of countries' trade by studying the evolution of their distance of trade (DOT) in 1962-2000. The paper find that the DOT falls over time for the average country in the world, and that the number of countries with declining DOT is close to double those with increasing DOT. Thus, distance seems to have become more important over time for a majority of countries. The paper examines various hypotheses in order to explain the evolution of the DOT. One of the conclusions is that its evolution is unrelated to that of the overall level of trade costs but depends on the relative evolution of its components. We also examine the impact on the DOT of changes in production costs, customs costs, domestic transport costs, of air relative to land and ocean transport costs, of competition, exchange rate policy, regional integration, uneven growth, counter-season trade, and "just-in-time inventory management." The paper also offers some insights into how these changes may affect the home bias in consumption and the border effect.
Book Synopsis On the Geography of Trade by : Céline Carrère
Download or read book On the Geography of Trade written by Céline Carrère and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been widely argued that, with the decline in trade costs, the importance of distance has declined over time. On the other hand, most gravity models find that the importance of distance on bilateral trade has increased over time. This puzzle is examined here. The paper develops a new measure of the distance of trade (DOT) and shows that the DOT falls over the period 1962-2000 for the average country in the world, with the number of countries with declining DOT about double those with increasing DOT. This implies an increased importance of distance over time. The paper argues that this result can be compatible with declining trade costs. Actually, we show that the decision about what proportion to trade at different distances does not depend on the level of trade costs but on the relative importance of its components. The paper also analyzes the impact on the DOT of other determinants such as regional integration, changes in the geography of growth or in real exchange rates. Finally, the paper provides an empirical analysis of the evolution of the DOT and explains most of its negative trend.
Book Synopsis Modeling the Effects of Distance and Spatial Dependence in International Trade by : Jesse Oakes Piburn
Download or read book Modeling the Effects of Distance and Spatial Dependence in International Trade written by Jesse Oakes Piburn and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The gravity model has been widely used estimate the effect that distance has in international trade; however, two important areas have seen little attention in the literature, namely, the influence of using a more accurate measure of distance and how distance effect estimates change when controlling for spatial dependence in observed trade flows. Using transportation networks to measure distance and estimating both a spatial lag and spatial error gravity model, Canadian provincial exports to the lower 48 states in the United States were analyzed to address these previously ignored issues. It was found that the traditional distance measure of great circle distance underestimated the distance between any given province and state pair by an average of 20%, however, it did so consistently across all pairs, therefore having no significant influence on the distance effect estimate, regardless of estimation technique. When trade was disaggregated into mode of transportation distance effect estimates differed significantly, reflecting the most efficient uses of each transport mode and also the commodities that flowed across them. Finally, when using the spatial lag gravity model, distance effect estimates decreased substantially compared to traditional least squares estimation, while the spatial error model provided asymptotically equivalent parameter estimates to least squares, but with overall increased predictive power.
Book Synopsis The Great Trade Collapse: Causes, Consequences and Prospects by : Richard E. Baldwin
Download or read book The Great Trade Collapse: Causes, Consequences and Prospects written by Richard E. Baldwin and published by CEPR. This book was released on 2009 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Regional Trading Blocs in the World Economic System by : Jeffrey A. Frankel
Download or read book Regional Trading Blocs in the World Economic System written by Jeffrey A. Frankel and published by Peterson Institute. This book was released on 1997 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covers trends from 1957 to 1995.
Book Synopsis Changing Patterns of Global Trade by : Nagwa Riad
Download or read book Changing Patterns of Global Trade written by Nagwa Riad and published by International Monetary Fund. This book was released on 2012-01-15 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.
Book Synopsis We are living in an era of globalisation, yet there is evidence that distance still matters, and increasingly so by : Arturo Minet
Download or read book We are living in an era of globalisation, yet there is evidence that distance still matters, and increasingly so written by Arturo Minet and published by GRIN Verlag. This book was released on 2007-07-10 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2007 in the subject Economics - International Economic Relations, grade: 1,0, University of Warwick (University of Warwick, UK, Dep. of Economics), course: International Economic Systems since 1918, language: English, abstract: The current debate on globalization has raised an important question for economists: Is the world really becoming a ‘global village’ with a ‘weightless economy’? In accordance with Cairncross’s best-selling book The Death of Distance (2001) some economists have argued that falling transportation and communication costs are leaving ‘distance’ a negligible factor in the assessment of barriers to trade and integration of the world economies. Yet there is not enough funded evidence for this. Recent studies on the importance of education suggest that knowledge, as the ‘basic commodity’ of the 21st century and major source of future growth, makes industries and thus trade more independent of traditional physical fetters. On the contrary, it is not clear to what extent transportation costs have generally declined. Moreover it is uncertain whether the decline in shipping costs affects distant and proximate transport equally. An emerging literature is trying to give consistent explanations for the puzzling persistence of the distance effect on trade flows and economic development. In this essay we will discuss some of the evidence found so far, that distance is still ‘alive’.
Book Synopsis On the Conservation of Distance in International Trade by :
Download or read book On the Conservation of Distance in International Trade written by and published by World Bank Publications. This book was released on with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On the Geography of Trade by : Celine Carrere
Download or read book On the Geography of Trade written by Celine Carrere and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been widely argued that, with the decline in trade costs (for example, transport and communication costs), the importance of distance has declined over time. If so, this would be a boon for countries located far from the main centers of economic activity. The authors examine the evolution of countries' distance of trade (DOT) from 1962-2000. They find that the DOT falls over time for the average country in the world, and that the number of countries with declining DOT is close to double those with increasing DOT. Thus, distance has become more important over time for a majority of countries. The authors examine various hypotheses to explain this phenomenon. One conclusion is that the evolution of the DOT is unrelated to that of the overall trade costs but depends on the relative evolution of its components. The authors also examine the impact on the DOT of changes in production, customs, and domestic transport costs; air relative to land and ocean transport costs; competition, exchange rate policy, regional integration, uneven growth, and counter-season trade; and just-in-time inventory management. An interesting finding is that, though regional integration has a negative impact on the DOT, the countries forming trade blocs had a DOT that was growing faster or falling more slowly than that of excluded countries. The authors also offer some insights into how these changes may affect the home bias in consumption and the border effect.
Book Synopsis The Gravity Model in International Trade by : Peter A. G. van Bergeijk
Download or read book The Gravity Model in International Trade written by Peter A. G. van Bergeijk and published by Cambridge University Press. This book was released on 2010-06-10 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do borders affect trade? Are cultural and institutional differences important for trade? Is environmental policy relevant to trade? How does one's income or wage relate to the fact that trade partners are nearby or far away? These are just some of the important questions that can be answered using the gravity model of international trade. This model predicts and explains bilateral trade flows in terms of the economic size and distance between trading partners (e.g. states, regions, countries, trading blocs). In recent years, there has been a surge of interest in this model and it is now one of the most widely applied tools in applied international economics. This book traces the history of the gravity model and takes stock of recent methodological and theoretical advances, including new approximations for multilateral trade resistance, insightful analyses of the measurement of economic distance and analyses of foreign direct investment.
Book Synopsis International Handbook on the Economics of Integration by : Miroslav N. Jovanović
Download or read book International Handbook on the Economics of Integration written by Miroslav N. Jovanović and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 617 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'International Handbook on the Economics of Integration edited by Miroslav Jovanovi? provides timely and rich academic contributions to considerations of the widest array of integration-related issues. European integration has been providing an inspiration to a number of academics and researchers. the Handbook is a recognition of the dynamic and strong solidarity of European integration. At the same time, the European Union often provided an example for integration schemes throughout the world which spread enormously since the mid-1990s. Leading experts from all continents contributed to this Handbook which will be a valuable input into academic and policy-making discussions and actions.' - José Manuel Barroso, President of the European Commission
Book Synopsis On the Effect of the Internet on International Trade by : Caroline L. Freund
Download or read book On the Effect of the Internet on International Trade written by Caroline L. Freund and published by . This book was released on 2000 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Internet stimulates trade. Using a gravity equation of trade among 56 countries, we find no evidence of an effect of the Internet on total trade flows in 1995 and only weak evidence of an effect in 1996. However, we find an increasing and significant impact from 1997 to 1999. Specifically, our results imply that a 10 percent increase in the relative number of web hosts in one country would have led to about 1 percent greater trade in 1998 and 1999. Surprisingly, we find that the effect of the Internet on trade has been stronger for poor countries than for rich countries, and that there is little evidence that the Internet has reduced the impact of distance on trade. The evidence is consistent with a model in which the Internet creates a global exchange for goods, thereby reducing market-specific sunk costs of exporting.
Book Synopsis A Practical Guide to Trade Policy Analysis by : Marc Bacchetta
Download or read book A Practical Guide to Trade Policy Analysis written by Marc Bacchetta and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development
Book Synopsis On the Conservation of Distance in International Trade by : Matias Berthelon
Download or read book On the Conservation of Distance in International Trade written by Matias Berthelon and published by . This book was released on 2016 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The volume of world trade has grown more than twice as fast as real world income since 1980. Surprisingly, the effect of distance on trade has increased during this period. It could be that countries are trading greater volumes of goods that are highly sensitive to distance. An alternative explanation is that distance has become more import for a significant share of goods. Using highly disaggregated bilateral trade data, Berthelon and Freund find that adjustment in the composition of trade has not influenced the way in which distance affects trade. In contrast, for about 25 percent of industries, distance has become more important. This implies that the increased distance sensitivity of trade is a result of a change in relative trade costs that affects many industries, as opposed to a shift to more distance-sensitive products. The authors also find that homogeneous products are twice as likely to have become more distance sensitive as compared with differentiated goods. This is consistent with the hypothesis that falling search costs, resulting from improvements in transport and communications, are relatively more important for differentiated goods. The results offer no evidence of the quot;death of distance.quot; Rather, they suggest that distance-related relative trade costs have remained unchanged or shifted in favor of proximate markets.This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to understand the effect of technology on trade.
Book Synopsis Distance, Formal and Informal Institutions in International Trade by : Rainer Lanz
Download or read book Distance, Formal and Informal Institutions in International Trade written by Rainer Lanz and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper brings together three strands of literature on the determinants of international trade − distance, formal, and informal institutions − to explain differences in export performance across countries. Using an augmented gravity model, we find that the importance of formal institutions (rule of law) for bilateral trade increases with distance. Similarly, the pro-trade effect of informal institutions (migrant networks) is larger for distant countries. After confirming that informal institutions can substitute for weak formal institutions in promoting trade, we finally show that this substitution effect does not decrease with distance. Our findings contribute to explaining the persistent negative effect of distance on the export performance of many developing countries despite reductions in trade costs, and provide guidance to policy makers in terms of trade reform, regional trade liberalization and export promotions strategies.
