グラヴィティ・モデルによる経済統合効果の検証--応用実証研究についての展望 [in Japanese] Gravity studies of economic integration: an empirics perspective [in Japanese]
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It is well-known that international trade flows can be well described by the so-called "gravity model", which is a favored formulation to assess the trade-creating and trade-diverting effects associated with regional trade agreements. This paper provides a synthetic review of the gravity literature on the development of theoretical foundations and the empirical use of the model. First, we take a look at the simple and basic empirics procedure adopted by Tinbergen (1962), which is one of the pioneering studies on the effects of trade agreements on international trade patterns. And then we review the previous studies on theoretical foundations of the gravity model, focusing our discussion mainly on gravity equations derived from general equilibrium models with international monopolistic competition, in consideration of the existence of trade costs such as transport costs, tariffs, information costs, contract enforcement costs, or costs associated with the use of different currencies, legal and regulatory costs, and local distribution costs. Finally, we provide a simple empirical gravity analysis using the pooled cross-sectional data of 13 East Asian countries over the period from 1987 to 2005 to demonstrate the usefulness of the gravity approach.
- Osaka Sangyo University journal of economics
Osaka Sangyo University journal of economics 9(2), 189-231, 2008-02
Osaka Sangyo University