Home

    About

    Open Access Repository

    SearchBrowse by ThemeBrowse by AuthorBrowse by TypeMost Popular Titles

    Other Resources

    Curators

    Events

    Contributing Think Tanks

    Networks

    Using Content

    FAQs

    Terms of Use

    13,800+ curated items from top Think Tanks.
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Home

    About

    Open Access Repository

    SearchBrowse by ThemeBrowse by AuthorBrowse by TypeMost Popular Titles

    Other Resources

    Curators

    Events

    Contributing Think Tanks

    Networks

    Using Content

    FAQs

    Terms of Use

    Effects of Hub-and-Spoke Free Trade Agreements on Trade: Panel Data Analysis

    Alba, Joseph D.; Hur, Jung; Park, Donghyun | October 2008
    Abstract
    Overlapping free trade agreements (FTAs) have given rise to hub-and-spoke FTAs that may promote trade by giving an export advantage to the FTA hub country. We empirically investigate the effect of hub-and-spoke FTAs on trade using panel data consisting of 99 countries and covering the period 1960–1999. Our empirical analysis of the panel data yields three notable findings. First, FTAs have a significant and positive impact on trade. Second, hub-and-spoke FTAs increase trade above and beyond FTAs, and thus reinforce the trade-boosting effects of FTAs. Third, our results imply an annual growth rate of 4.9% in bilateral trade and hence a doubling of trade after 14½ years between FTA partners. Our results indicate that the hub-and-spoke nature of FTAs has a positive effect on trade, in addition to the direct, trade-liberalizing effect of FTAs. Therefore, in a world of overlapping FTAs, a more accurate empirical analysis of the relationship between FTAs and trade calls for taking into account the hub-and-spoke characteristic of FTAs.
    Citation
    Alba, Joseph D.; Hur, Jung; Park, Donghyun. 2008. Effects of Hub-and-Spoke Free Trade Agreements on Trade: Panel Data Analysis. © Asian Development Bank. http://hdl.handle.net/11540/1781. License: CC BY 3.0 IGO.
    ISSN
    1655-5252
    Keywords
    Trade Facilitation
    Trade
    Economic integration
    Regional Economic Integration
    Free Trade
    Trade Agreements
    Trade Policy
    Economic Development
    Economics
    International Economics
    Economic planning
    Economic structure
    Growth policy
    Trade relations
    Trade policy
    Trade policy
    Economic development
    Regional economics
    Economic forecasting
    Economic development projects
    Success in business
    Business
    Free trade
    Business
    Economics
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/1781
    Metadata
    Show full item record
    Thumbnail
    PDF (820.1Kb)
    Author
    Alba, Joseph D.
    Hur, Jung
    Park, Donghyun
    Theme
    Trade
    Economics

    Related items

    • Thumbnail

      Aid for Trade in Asia and the Pacific: Its Role in Trade-Driven Growth: Report from the Co-Chairs of the Regional Technical Group on Aid for Trade for Asia and the Pacific 

      Asian Development Bank (Asian Development Bank, 2012-02-01)
      The overall connection between trade, development assistance, economic growth, and poverty reduction has become broad-based conventional wisdom. What is perhaps less well understood is how to operationalize these connections concretely at the country or sub-regional level. Aid for Trade in Asia and the Pacific: Its Role in Trade-Driven Growth - takes stock of Asia and the Pacific experience and ...
      The overall connection between trade, development assistance, economic growth, and poverty reduction has become broad-based conventional wisdom. What is perhaps less well understood is how to operationalize these connections concretely at the country ...
    • Thumbnail

      Digital Trade Facilitation: Paperless Trade in Regional Trade Agreements 

      Duval, Yann; Mengjing, Kong (Asian Development Bank Institute, 2017-06-30)
      Digital trade facilitation refers to the application of modern information and communication technologies (ICTs) to simplify and automate international trade procedures. It is rapidly becoming essential to maintaining trade competitiveness and enabling effective participation in cross-border e-commerce. This paper examines the extent to which measures aimed at dematerializing trade data and documents ...
      Digital trade facilitation refers to the application of modern information and communication technologies (ICTs) to simplify and automate international trade procedures. It is rapidly becoming essential to maintaining trade competitiveness and enabling ...
    • Thumbnail

      Processing Trade, Trade Liberalisation, and Opening Up: China’s Miracle of International Trade 

      Yu, Miaojie; Zhu, Huihuang (Economic Research Institute for ASEAN and East Asia, 2019-11-30)
      Understanding the role of international trade is the key to understanding China’s miraculous economic growth. This paper reviews the literature on international trade in the context of China, with a focus on processing trade, trade liberalisation, and firm performance to provide a better understanding of China’s experience of opening up over the past 4 decades.
      Understanding the role of international trade is the key to understanding China’s miraculous economic growth. This paper reviews the literature on international trade in the context of China, with a focus on processing trade, trade liberalisation, and ...
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise