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A Gravity Model Analysis of the Benefits of Economic Integration in the Pacific Rim

Author

Listed:
  • Karemera, David

    (South Carolina State University)

  • I. Smith, Wilbur

    (Florida A&M University)

Abstract

A modified gravity model of international trade is used to evaluate determi - nants of flows of commodities most often traded in the Pacific Rim. It is shown that the gravity model can be reparameterized effectively by using time series and cross section data rather than using cross section data alone. Documented evidence indicates that all independent variables including income, export and import unit values, exchange rates, and membership in regional trade groups are major determinants of trade flows in the Pacific Rim. Specifically, member - ship in the ASEAN significantly increased trade creation among members as well as fostered trade diversion from members to nonmembers. However, the impact of membership in the NAFTA on trade flows in the Pacific Rim is limit - ed and appears to be commodity specific.

Suggested Citation

  • Karemera, David & I. Smith, Wilbur, 1999. "A Gravity Model Analysis of the Benefits of Economic Integration in the Pacific Rim," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 14, pages 347-367.
    • Handle: RePEc:ris:integr:0108
    as

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    Citations

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    Cited by:

    1. Das, Joy & Tanger, Shaun & Fannin, J. Matthew & Kennedy, P. Lynn, 2020. "Institutional Determinant of Market Concentration and Trade in a General Equilibrium Setup," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304458, Agricultural and Applied Economics Association.
    2. Shehu U.R. Aliyu & Sani Bawa, 2015. "Gravity model by panel data approach: empirical evidence from Nigeria," International Journal of Trade and Global Markets, Inderscience Enterprises Ltd, vol. 8(1), pages 42-57.
    3. Mohsen Mehrara & Samaneh Seijani & Abbas Rezazadeh Karsalari, 2017. "Determinants of high-tech export in developing countries based on Bayesian model averaging," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 35(1), pages 199-215.
    4. Sultan, Maryam & Munir, Kashif, 2015. "Export, Import and Total Trade Potential of Pakistan: A Gravity Model Approach," MPRA Paper 66621, University Library of Munich, Germany.
    5. Lunzheng Zhou & Guangji Tong, 2022. "Structural Evolution and Sustainability of Agricultural Trade between China and Countries along the “Belt and Road”," Sustainability, MDPI, vol. 14(15), pages 1-24, August.
    6. Amponsah, William A. & Ofori-Boadu, Victor, 2007. "Determinants of U.S. Textile and Apparel Trade," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 10(2), pages 1-20.
    7. Rahman, Mohammad Mafizur, 2005. "The Determinants of Bangladesh's Trade: Evidence from the Generalized Gravity Model," Working Papers 3, University of Sydney, School of Economics.

    More about this item

    Keywords

    pacific rim; economic integration; generalized gravity model; ASEAN; NAFTA;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration

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