This paper investigates the structure East Asian trade flows over the high-growth period of 1970-1996. Data for Korea, Malaysia, Indonesia and the Philippines are analysed, using measures of static intra-industry trade (Grubel-Lloyd index) and of dynamic (marginal) intra-industry trade. Inferences drawn from those results are based on the “smooth adjustment hypothesis”, according to which intra...

The paper investigates the effects of international trade in goods and capital movement on the productivity distribution and industry-wide productivity when countries are heterogeneous in the quality of their financial institutions. In autarky, firm heterogeneity in their productivities arises in countries with poor financial institutions, while all firms adopt a high-productivity technology in...

Our society’s dependence on chemicals is a comparatively recent phenomenon. The chemical industry today is a US$1.55 trillion global industry, nearly four times as big as it was just 30 years ago. World-wide, the industry employs some 12 million people. The chemical industry in OECD Member countries accounts for 76 per cent of world-wide production. Chemicals and related products represent 14 p...

This article examines the location of manufacturing industries in the European Union. It draws on intra-industry trade measures for 1961–90 and on sectoral employment data by countries and regions. The analysis of employment data suggests that EU industry has become increasingly localized in the 1980s. Increasing-returns industries are strongly concentrated at the economic core of the EU and di...

It is generally admitting that specialization and integration do not evolved in the same direction. The analysis of sectoral production in European countries in this paper shows the contrary. Simulation of cross spectrum functions and panel estimation of cointegration relationship between sectoral GDP show that spillover e¤ects of trade are important within a country but also between countries ...

the objective of this paper is to explore the effect of financial crisis on trade flows of steel industries in the major asian-pacific steel producing countries. using a static and dynamic panel data analysis, we test the hypothesis that the global financial crisis has a negative effect on asia-pacific bilateral steel trade flows. we also examine the role of regional trade integration in bilate...

This article analyzes the effects of trade liberalization between two asymmetric industries. Asymmetries concern consumers masses and labor endowments. The latter, together with human capital speci&city in the production of the variants of a vertically differentiated good, determine market form and the range of products available in each industry. We show that market integration bene&ts or harm...