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  • MPI Ethno. Forsch.  (3)
  • Soloaga, Isidro
  • Washington, D.C : The World Bank  (3)
  • Free Trade  (3)
  • Education
  • Health, Nutrition and Population
  • 1
    Online Resource
    Online Resource
    The Growth of China And India In World Trade : Opportunity Or Threat For Latin America And The Caribbean? (2007)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (25 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Lederman, Daniel The Growth of China And India In World Trade
    Keywords: Bilateral trade ; Competitiveness ; Currencies and Exchange Rates ; Economic Theory and Research ; Economic size ; Export growth ; Exports ; Finance and Financial Sector Development ; Free Trade ; GDP ; Growth rate ; International Economics & Trade ; International trade ; Macroeconomics and Economic Growth ; Markets and Market Access ; Public Sector Development ; Substitution effect ; Telecommunications ; Trade Policy ; Bilateral trade ; Competitiveness ; Currencies and Exchange Rates ; Economic Theory and Research ; Economic size ; Export growth ; Exports ; Finance and Financial Sector Development ; Free Trade ; GDP ; Growth rate ; International Economics & Trade ; International trade ; Macroeconomics and Economic Growth ; Markets and Market Access ; Public Sector Development ; Substitution effect ; Telecommunications ; Trade Policy ; Bilateral trade ; Competitiveness ; Currencies and Exchange Rates ; Economic Theory and Research ; Economic size ; Export growth ; Exports ; Finance and Financial Sector Development ; Free Trade ; GDP ; Growth rate ; International Economics & Trade ; International trade ; Macroeconomics and Economic Growth ; Markets and Market Access ; Public Sector Development ; Substitution effect ; Telecommunications ; Trade Policy
    Abstract: This paper studies the relationship between the growth of China and India in world merchandise trade and Latin American and Caribbean commercial flows from two perspectives. First, the authors focus on the opportunity that China and India's markets have offered Latin American and Caribbean exporters during 2000-2004. Second, empirical analyses examine the partial correlation between Chinese and Indian bilateral trade flows and Latin American and Caribbean trade with third markets. Both analyses rely on the gravity model of international trade. Econometric estimations that control for the systematic correlation between expected bilateral trade volumes and the size of their regression errors, as well as importer and exporter fixed effects and year effects, provide consistent estimates of the relevant parameters for different groups of countries in Latin America and the Caribbean. Results suggest that the growth of the two Asian markets has produced large opportunities for Latin American and Caribbean exporters, which nevertheless have not been fully exploited. The evidence concerning the effects of Chinese and Indian trade with third markets is not robust, but there is little evidence of negative effects on Latin American and Caribbean exports of non-fuel merchandise. In general, China's and to a large extent India's growing presence in world trade has been good news for Latin America and the Caribbean, but some of the potential benefits remain unexploited
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    What's Behind Mercosur's Common External Tariff? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (48 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Soloaga, Isidro What's Behind Mercosur's Common External Tariff?
    Keywords: Currencies and Exchange Rates ; Debt Markets ; Domestic Market ; Economic Policy ; Economic Theory and Research ; Emerging Markets ; External Tariff ; Finance and Financial Sector Development ; Free Trade ; International Economics & Trade ; International Market ; International Markets ; International Prices ; International Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Markets and Market Access ; Multilateral System ; Political Economy ; Private Sector Development ; Public Sector Development ; Regionalism ; Share Of World Exports ; Tariff Data ; Tariff Levels ; Tariff Structures ; Tariffs ; Terms Of Trade ; Trade ; Trade Effects ; Trade Externalities ; Trade Policy ; Trade Policy ; World Prices ; Currencies and Exchange Rates ; Debt Markets ; Domestic Market ; Economic Policy ; Economic Theory and Research ; Emerging Markets ; External Tariff ; Finance and Financial Sector Development ; Free Trade ; International Economics & Trade ; International Market ; International Markets ; International Prices ; International Trade ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Markets and Market Access ; Multilateral System ; Political Economy ; Private Sector Development ; Public Sector Development ; Regionalism ; Share Of World Exports ; Tariff Data ; Tariff Levels ; Tariff Structures ; Tariffs ; Terms Of Trade ; Trade ; Trade Effects ; Trade Externalities ; Trade Policy ; Trade Policy ; World Prices
    Abstract: Most researchers focus on the political economy (interest group pressures) approach to analyzing why customs unions are formed, but terms-of-trade effects were also important in formation of the Common Market of the Southern Cone (Mercosur). Terms-of-trade externalities among Mercosur's members have been internalized in the common external tariff. - The theoretical literature on trade follows two different approaches to explaining the endogenous formation of customs unions: (1) The terms-of-trade approach, in which integrating partners are willing to exploit terms-of-trade effects. Using the terms-of-trade approach, one concludes that tariffs on imports from the rest of the world should increase after the formation of a regional bloc, because the market power of the region increases and terms-of-trade externalities can be internalized in the custom union's common external tariff. As the union forms, the domestic market gets larger and members' international market power increases. (2) The interest group pressures (political economy) approach, in which, for example, the customs union may offer the potential for exchanging markets or protection within the enlarged market. Using this approach, one would usually conclude that tariffs for the rest of the world decline after the custom union's formation - a rationale related to free-rider effects in larger lobbying groups. It is important to recognize the forces behind the formation of customs unions. Most researchers have focused on the second approach and neglected terms of trade as a possible explanatory variable. Both rationales explain a significant share of tariff information. Results, write Olarreaga, Soloaga, and Winters, suggest that both forces were important in formation of the Common Market of the Southern Cone (Mercosur). Terms-of-trade effects account for between 6 percent and 28 percent of the explained variation in the structure of protection. There is also evidence that the terms-of-trade externalities among Mercosur's members have been internalized in the common external tariff. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to understand the political economy of trade protection. Marcelo Olarreaga may be contacted at molarreagaworldbank.org
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    How Has Regionalism in the 1990s Affected Trade? (1999)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Soloaga, Isidro How Has Regionalism in the 1990s Affected Trade?
    Keywords: Andean Pact ; Currencies and Exchange Rates ; Economic Policy ; Economic Theory and Research ; Exports ; Extra-Bloc Trade ; Finance and Financial Sector Development ; Free Trade ; Free Trade ; Free Trade Area ; Geographical Patterns Of Trade ; Gravity Equation ; Gravity Model ; Gravity Models ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Patterns Of Trade ; Preferential Trade ; Preferential Trade Agreements ; Preferential Trade Area ; Public Sector Development ; Regionalism ; Trade ; Trade Diversion ; Trade Effects ; Trade Flows ; Trade Law ; Trade Liberalization ; Trade Policy ; Andean Pact ; Currencies and Exchange Rates ; Economic Policy ; Economic Theory and Research ; Exports ; Extra-Bloc Trade ; Finance and Financial Sector Development ; Free Trade ; Free Trade ; Free Trade Area ; Geographical Patterns Of Trade ; Gravity Equation ; Gravity Model ; Gravity Models ; International Economics & Trade ; Law and Development ; Macroeconomics and Economic Growth ; Patterns Of Trade ; Preferential Trade ; Preferential Trade Agreements ; Preferential Trade Area ; Public Sector Development ; Regionalism ; Trade ; Trade Diversion ; Trade Effects ; Trade Flows ; Trade Law ; Trade Liberalization ; Trade Policy
    Abstract: August 1999 - The results of a modified gravity model suggest that the new wave of regionalism has not boosted intra-bloc trading significantly. Trade liberalization in Latin America did have a positive impact on the imports of bloc members, although MERCOSUR's exports did poorly over the mid-1990s. Soloaga and Winters apply a gravity model to data on annual nonfuel imports for 58 countries for the years 1980-96, to quantify the effects on trade of recently created or revamped preferential trade agreements (PTAs). They modify the usual gravity equation to identify the separate effects of PTAs on intra-bloc trade, members' total imports, and members' total exports. They also formally test the significance of changes in the estimated coefficients before and after the blocs' formation. Their estimates give no indication that the new wave of regionalism boosted intra-bloc trade significantly. They found convincing evidence of trade diversion only for the European Union and the European Free Trade Association. For the same blocs they also observed export diversion, which would be consistent with these blocs' imposing a welfare cost on the rest of the world. Trade liberalization efforts in Latin America have had a positive impact on the imports of bloc members (Andean Group, Central American Common Market, Latin American Integration Association, and MERCOSUR). Increasing propensities to export generally accompanied increasing propensities to import, suggesting that general trade liberalization had a strong effect. The exception was MERCOSUR, for which import and export propensities displayed opposite movements, with exports performing worse than expected over the mid-1990s. Although MERCOSUR members have undoubtedly liberalized since the mid-1980s, these results suggest that their trade performance has been influenced more by competitiveness than by trade policy. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study the effects of regional integration. The authors may be contacted at isoloagaworldbank.org or l.a.winters@sussex.ac.uk
    URL: Volltext  (Deutschlandweit zugänglich)
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