Using bilateral trade data for 210 countries over the period 1948-2003, this paper attempts to shed some light on the relationship between the WTO and members' trade volatilities. We find that the trade among WTO members tends to be more stable than the trade outside the WTO, and there is strong evidence of interdependence of trade volatilities. The results show comovement of trade volatilities...

The paper analyzes the network structure of international trade. Adapting a network approach developed in the physical sciences, we propose that international trade functions like a scale-free network. For each commodity group we calculate a characteristic parameter which reflects the structure of its trading network. We then insert this variable into an expanded gravity model to explore the ef...

© A m Abstract: This paper investigates to what extent international migration can be explained by climatic variations. A gravity model of migration augmented with average temperature and precipitation in the country of origin is estimated using a panel data set of 142 sending countries for the period 1995 to 2006. We find two primary results. First, temperature is positively correlated with mi...

The ASEAN Free Trade Agreement (AFTA) was set up in 1993 and has already shown significant effects by 2010. This study empirically investigates the effect of trade creation on intra-ASEAN trade for the period of 1986 to 2010. Using the gravity model, we find that major determinants of bilateral trade in ASEAN are GDP, population, relative endowment, distance and common border. A dummy variable ...

Present paper is an attempt to estimate the impact of Economic and Geographic indicators in trade among Islamic countries according to a bilateral trade model as Gravity model, and study the relationship between Economy, Geography and Trade in this way. Fixed effect version of the panel data estimation producer with OIC member country data spanning over the 2007–2012. The result of this researc...

We re-examine the canonical question of Myerson and Satterthwaite (1983) whether two privately-informed parties, a buyer and a seller, can trade an indivisible good efficiently. We relax their assumption that utilities are quasi-linear; our main assumption instead is that the traded good is normal. We show that efficient trade is possible if agents’ utility functions are not too responsive to p...

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...

We examine the impact of aid for trade (AFT) on bilateral trade costs of African Nations. Using a comprehensive bilateral trade cost data from Arvis et al. (2013) and focusing on AFT recipients in Africa spanning the years 2002-2010, we show that increased AFT reduces bilateral trading costs, more so for the recipient’s trade with each other than recipients’ trade with their donors. Despite dif...

In an environment of increasing importance of South–South bilateral trade partnerships, we assess the potential for improving bilateral trade between India and five Central Asian countries in this paper, and construct a trade potential index. We find huge untapped potential for increasing trade, and that India and Central Asia would benefit from policies that encourage trade, including bilatera...