Do Hub-and-Spoke Free Trade Agreements Increase Trade? A Panel Data Analysis
Alba, Joseph; Hur, Jung; Park, Donghyun | April 2010
Abstract
"We use panel data consisting of 96 countries and covering the period 1960–2000 to investigate the effects of free trade agreements (FTAs) and hub-and-spoke systems of FTAs on exports. Our empirical results imply an annual growth rate of 5.57% in exports, leading to a doubling of exports after 12.4 years, between FTA partners. Nonoverlapping FTAs account for 4.12%, while hub-and-spoke FTAs account for 1.45% of the estimated export growth rate. This indicates that in addition to the direct trade liberalizing effect of FTAs, the hub-and-spoke nature of FTAs has an additional positive effect on trade."
Citation
Alba, Joseph; Hur, Jung; Park, Donghyun. 2010. Do Hub-and-Spoke Free Trade Agreements Increase Trade? A Panel Data Analysis. © Asian Development Bank. http://hdl.handle.net/11540/1958. License: CC BY 3.0 IGO.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/11540/1958Metadata
Show full item recordUsers also downloaded
-
CAREC Transport and Trade Facilitation Strategy 2020
Asian Development Bank (Asian Development Bank, 2013-10-24)The Central Asia Regional Economic Cooperation (CAREC) Transport and Trade Facilitation Strategy (TTFS) was refined to account for changes in the CAREC Program since 2008, particularly expanded membership and the new strategic framework (CAREC 2020). The refined strategy also reflects lessons learned during the initial phase of implementation, aiming to more efficiently and comprehensively achieve ...The Central Asia Regional Economic Cooperation (CAREC) Transport and Trade Facilitation Strategy (TTFS) was refined to account for changes in the CAREC Program since 2008, particularly expanded membership and the new strategic framework (CAREC 2020). ... -
Annual Report 2014: Operational Data
Asian Development Bank (Asian Development Bank, 2015-01-01)The page has additional information for the ADB Annual Report 2014. In 2014, the Asian Development Bank (ADB) approved $22.93 billion in development assistance, including $13.69 billion financed by ADB’s ordinary capital resources and special funds, and a record $9.24 billion by cofinancing partners. Disbursements totaled $10.01 billion, an increase of $1.47 billion (17%) from 2013, and the first ...The page has additional information for the ADB Annual Report 2014. In 2014, the Asian Development Bank (ADB) approved $22.93 billion in development assistance, including $13.69 billion financed by ADB’s ordinary capital resources and special funds, ... -
ADB Private Sector Operations Innovation, Impact, Integrity
Asian Development Bank (Asian Development Bank, 2012-03-01)This publication about ADB's nonsovereign operations explains ADB's approach to catalyzing and strengthening private sector investments in Asia and the Pacific.This publication about ADB's nonsovereign operations explains ADB's approach to catalyzing and strengthening private sector investments in Asia and the Pacific.
Related items
-
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 ... -
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 ... -
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 ...