The U.S. functioned as an engine of growth until the financial crisis. Now, U.S. imports have plummeted. This paper considers whether East Asia can be an engine of growth. Using data on consumption imports from 27 countries, the results indicate that income increases in East Asian countries would cause large increases in imports. The evidence also implies that an RMB appreciation would raise Ch...

A major characteristic of dynamic regions or sets of dynamic regions is that external exports and imports are very significant in comparison with internally generated flows. Yet, it is precisely these flows of external exports and imports that are not evaluated in conventional regional input-output (I-O) analysis. The conventional approach merely determines internal flows of intermediate inputs...

__________________________________________________________________ International trade is frequently thought of as a production technology in which the inputs are exports and the outputs are imports. Exports are transformed into imports at the rate of the price of exports relative to the price of imports: the reciprocal of the terms of trade. Cast this way, a change in the terms of trade acts a...

C hina’s future role in international agricultural trade continues to be a puzzle. Part of this puzzle, namely that related to grains, has received far more attention than has livestock trade, which has been relatively neglected. China is a net exporter of livestock products, although over the last two decades imports have been increasing faster than exports. Figure 1 shows the time path of net...

Economic theory suggests that the magnitude and direction of a company’s currency risk exposure depends crucially on its fundamental involvement in international trade. For US industries, we find that the stock performance of an import-oriented company moves positively with the performance of the dollar, but the stock performance of an export-oriented company tends to move against the dollar. B...