The Gravity Model in International Trade: Advances and Applications
by Edited by Peter A. G. van Bergeijk , Steven BrakmanFormat: Hardcover
Pub. Date: 2010-07-26
Publisher(s): Cambridge University Press
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Summary
How do borders affect trade? Are cultural and institutional differences important for trade? Is environmental policy relevant to trade? How does one's income or wage relate to the fact that trade partners are nearby or far away? These are just some of the important questions that can be answered using the gravity model of international trade. This model predicts and explains bilateral trade flows in terms of the economic size and distance between trading partners (e.g. states, regions, countries, trading blocs). In recent years, there has been a surge of interest in this model and it is now one of the most widely applied tools in applied international economics. This book traces the history of the gravity model and takes stock of recent methodological and theoretical advances, including new approximations for multilateral trade resistance, insightful analyses of the measurement of economic distance and analyses of foreign direct investment.
Table of Contents
| List of figures | |
| List of tables | |
| Introduction: the comeback of the gravity equation | |
| Methodology: | |
| A general equilibrium theory for estimating gravity equations of bilateral FDI, final goods, and intermediate trade flows | |
| The incidence of gravity | |
| Approximating general equilibrium impacts of trade liberalizations using the gravity equation: applications to NAFTA and the European Economic Area | |
| An extended gravity model with substitution applied to international trade | |
| Distance in the Gravity Model: | |
| Illusory border effects: distance mismeasurement inflates estimates of home bias in trade | |
| Trade costs, market access and economic geography: why the empirical specification of trade costs matters | |
| Intangible barriers to international trade: a sectoral approach | |
| Specific Applications: | |
| International environmental arrangements and international commerce | |
| Diplomatic relations and trade reorientation in transition countries | |
| Unlocking the value of cross-border mergers and acquisitions | |
| The impact of economic geography on GDP per capita in OECD countries | |
| Index | |
| Table of Contents provided by Publisher. All Rights Reserved. |
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