Have US-Japan Trade Agreements Made a Difference?
نویسنده
چکیده
The few existing empirical studies of U.S.-Japan trade agreements have relied primarily on descriptive statistics or univariate time series methods. We conduct a more powerful test by evaluating agreements in the context of well-specified econometric models. Consistent with trade theory, import demand is modeled as a cointegrating relationship with income and relative price variables, where a trade agreement may cause a structural break in the cointegrating vector. In several cases, we find evidence that market-opening trade agreements may have increased the volume of Japanese imports, while other agreements appear to have had no significant impact. (JEL F13, F14, C32)
منابع مشابه
The Value of Multilateral Trade Liberalization and the Need for Third-Party Sanction
The GATT/WTO and preferential trade agreements help member countries to achieve further gains from trade by promoting deeper trade liberalization. In general, free trade does not automatically follow from individualistic behavior. A major reason for this has to do with the existence of monopolistic power in trade. Trade liberalization requires that countries behave cooperatively and reciprocall...
متن کاملEconomic Relations of Japan with Iran and Saudi Arabia -A Comparative Study
This study aims at comparing the economic relations of Japan with Iran and with Saudi Arabia. The comparison of these two relations is important as Iran and Saudi Arabia are leading exporters and Japan is a large importer of crude oil in the world. After a brief overview of the history of these two relations, the criteria of trade complementarity, i.e. Trade Potential Naive Assessment, Cosine M...
متن کاملTrade Agreements and Direct-to-Consumer Advertising of Pharmaceuticals
There is growing international concern about the risks posed by direct-to-consumer advertising (DTCA) of prescription pharmaceuticals, including via the internet. Recent trade agreements negotiated by the United States, however, incorporate provisions that may constrain national regulation of DTCA. Some provisions explicitly mention DTCA; others enable foreign investors to seek compensation if ...
متن کاملAdvancing Public Health on the Changing Global Trade and Investment Agenda; Comment on “The Trans-Pacific Partnership: Is It Everything We Feared for Health?”
Concerns regarding the Trans-Pacific Partnership (TPP) have raised awareness about the negative public health impacts of trade and investment agreements. In the past decade, we have learned much about the implications of trade agreements for public health: reduced equity in access to health services; increased flows of unhealthy commodities; limits on access to medicines; and constrained policy...
متن کاملTrade Policy and Health: Adding Retrospective Studies to the Research Agenda; Comment on “The Trans-Pacific Partnership: Is It Everything We Feared for Health?”
Prospective studies of the potential health consequences of trade and investment treaties, such as the Trans-Pacific Partnership, are critical. These studies can make visible to trade policy-makers the potential negative impacts associated to such treaties and can influence the outcomes of such negotiations. However, few researchers have examined retrospectively the consequences of trade agreem...
متن کامل