ADB Economics Working Paper Series

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  Gravity-Based Tools for Assessing the Impact of Tariff Changes 

  Gnutzmann-Mkrtchyan, Arevik; Hugot, Jules (Asian Development Bank, 2022-02-15)

  This paper presents two empirical tools to quantify the impacts of tariff changes on bilateral trade and welfare. Both tools are rooted in the structural gravity literature. The first tool estimates the impact of tariff changes on bilateral trade for 5,020 products in a partial equilibrium framework. The second tool quantifies the impact on bilateral aggregate trade in a general equilibrium setup, ...

  This paper presents two empirical tools to quantify the impacts of tariff changes on bilateral trade and welfare. Both tools are rooted in the structural gravity literature. The first tool estimates the impact of tariff changes on bilateral trade for ...
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  Measuring Localization in the Age of Economic Globalization 

  Baris, Kristina V.; Crisostomo, Ma. Charmaine R.; Garay, Krizia Anne V.; Jabagat, Christian Regie J.; Mariasingham, Mahinthan J.; Mores, Elyssa Mariel T. (Asian Development Bank, 2022-02-15)

  In a highly integrated global economy, linkages of domestic sectors to global trade measure an economy’s ability to gain from participating in global value chains. On the other hand, the strength of domestic linkages can provide insights on an economy's cross-industry trade and extent of the localization of economic activity. This paper proposes a measure of domestic linkages based on a value added ...

  In a highly integrated global economy, linkages of domestic sectors to global trade measure an economy’s ability to gain from participating in global value chains. On the other hand, the strength of domestic linkages can provide insights on an economy's ...
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  Heterogeneous Effect of Uncertainty on Corporate Investment: Evidence from Listed Firms in the Republic of Korea 

  Kim, Cheonkoo; Park, Jungsoo; Park, Donghyun; Tian, Shu (Asian Development Bank, 2022-02-15)

  In this paper, we analyze the effect of financial uncertainty on corporate investment using firm-level panel data from the Republic of Korea. We find that financial uncertainty has a significant negative effect on corporate investment, and that the effect is heterogeneous across firms of different sizes. Small firms and large firms are more exposed to the negative effect of uncertainty than are ...

  In this paper, we analyze the effect of financial uncertainty on corporate investment using firm-level panel data from the Republic of Korea. We find that financial uncertainty has a significant negative effect on corporate investment, and that the ...
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  Impact of Tourism on Regional Economic Growth: A Global Value Chain Perspective 

  Liu, Anyu (Asian Development Bank, 2022-01-30)

  In the globalization era, many products in the tourism industry are imported from other economies; whereas other products may be exported as intermediates to other economies. Researchers have assessed the economic impact of tourism for more than 40 years, but have shed little light on the economic impact on economies in the global value chain. To fill this gap, this analysis used the multiregional ...

  In the globalization era, many products in the tourism industry are imported from other economies; whereas other products may be exported as intermediates to other economies. Researchers have assessed the economic impact of tourism for more than 40 ...

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