Explaining the Volume of North-South Trade

Markusen, James R.; Wigle, Randall

doi:10.2307/2233968

Cited by 71 publications

(27 citation statements)

References 4 publications

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“…From a theoretical point of view, the gravity equation has been considerably renewed in recent years. Indeed, it has been increasingly recognized that this equation can be derived from various international trade theories, notably Ricardian, Heckscher-Ohlin, and monopolistic competition models [15][16][17], but also the reciprocal-dumping model [18]. The most popular recent specification of the gravity model can be found in Anderson and van Wincoop [10].…”

Section: Calculating Trade Potential From New Gravity Models: Some Mementioning

confidence: 99%

Some New Insights into Trade Potential between the EU and Its Mediterranean Partners

Péridy

2012

Economics Research International

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This paper provides new insights into the calculation of trade potential between the EU and its Southern and Eastern Mediterranean partners (MPs). It is based on an econometric specification which takes into account some new explanatory variables which are not included simultaneously in the previous studies. These include trade costs (tariffs, NTBs, and logistics costs), factor movement (migration and FDI), as well as governance. In addition, specific estimators are implemented in order to account for zero trade flows, endogeneity and dynamics. The main conclusion of this study is that contrary to some results found in previous studies, MPs have reached their export potential with the EU. It is also shown that there is no specificity of the MP-EU trade potential in comparison with the other main PTAs (NAFTA, MERCOSUR, and ASEAN) which have also reached their trade potential. These results have strong policy implications.

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Section: Calculating Trade Potential From New Gravity Models: Some Mementioning

confidence: 99%

Some New Insights into Trade Potential between the EU and Its Mediterranean Partners

Péridy

2012

Economics Research International

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“…Baldwin (1994) presents an excellent literature survey on the estimation and theoretical foundation of the gravity models. Markusen (1986) and Markusen and Wigle (1990) presented models of trade between capital abundant and labor abundant countries with nonhomothetic preferences (capital intensity in production is correlated with high-income elasticity of demand). They show that the differences in natural abundance and economies of scale determine the direction of trade, while the nonhomothetic preferences explain the volume of trade.…”

Section: Explanation Of Trade Volume By Gravity Modelsmentioning

confidence: 99%

Trade Diversion in 'Left-Outs' in Eastward Enlargement of the European Union: The Case of Slovakia

Fidrmuc

1999

Europe-Asia Studies

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I analyze three scenarios including no Eastward enlargement of the EU and the accession of Central European countries including and excluding Slovakia. The formulation of these scenarios is derived from the evidence on former relations between EU and EFTA as estimated by gravity models for total trade and major SITC one-digit commodity groups. A significant part of Slovakia's extraordinary trade relations with the Czech Republic will diminish if the country does not participate in the first wave of Eastward enlargement of the EU. These export losses can be compensated by export gains to Hungary and Poland.

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“…From a theoretical point of view, the gravity equation has been considerably renewed in recent years. Indeed, it has been increasingly recognized that this equation can be derived from various international trade theories, notably Ricardian, Heckscher-Ohlin and monopolistic competition models (Helpman and Krugman 1985, Bergstrand 1989, Markusen and Wigle 1990, Evenett and Keller 2002, but also the reciprocaldumping model (Feenstra, Markusen and Rose, 2001). …”

Section: Section 2: the Application Of A Specific Gravity Model With mentioning

confidence: 99%

Shallow Versus Deep Integration Between Mediterranean Countries and the EU and Within the Mediterranean Region

Ghoneim

López-González

Parra³

et al. 2011

SSRN Journal

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Explaining the Volume of North-South Trade

Cited by 71 publications

References 4 publications

Some New Insights into Trade Potential between the EU and Its Mediterranean Partners

Some New Insights into Trade Potential between the EU and Its Mediterranean Partners

Trade Diversion in 'Left-Outs' in Eastward Enlargement of the European Union: The Case of Slovakia

Shallow Versus Deep Integration Between Mediterranean Countries and the EU and Within the Mediterranean Region

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