Globalisation, Regionalism and Economic Interdependence

✍ Scribed by Filippo di Mauro, Stéphane Dees, Warwick J. McKibbin

• Publisher: Cambridge University Press
• Year: 2009
• Tongue: English
• Leaves: 183
• Category: Library

✦ Synopsis

How has increasing economic integration at regional and global level affected the functioning of the global economy? What are the consequences of globalisation and regionalism for world trade, production processes and domestic economies? What kind of economic adjustments do these phenomena imply in terms of factor mobility and relative costs? Globalisation, Regionalism and Economic Interdependence answers these and other questions by exploring the relationship between globalisation and regionalism from both academic and policy-making perspectives. It assesses the extent to which increased global and regional integration has changed the functioning of the world economy and analyses the implications for global trade, relocation of production, structural changes and the international transmission of shocks. With contributions from both academics and professionals, this book is an invaluable guide to the increasingly important effects of the interaction between globalisation and various different forms of regional integration.

✦ Table of Contents

Cover......Page 1
Half-title......Page 3
Title......Page 5
Copyright......Page 6
Contents......Page 7
Figures......Page 8
Tables......Page 10
Contributors......Page 12
Preface......Page 15
Introduction......Page 17
1 Introduction......Page 21
2.1 The conceptual framework......Page 22
2.2 The role of vicinity......Page 24
2.3 The impact of production delocalisation......Page 25
3.1 The role of global factors in domestic economies......Page 26
3.2 The role of regional factors......Page 28
4.1 Impact on labour markets......Page 30
4.2 Impact on capital flows......Page 31
4.4 Impact on prices......Page 32
5 Conclusions......Page 33
References......Page 35
1 Introduction......Page 38
2 Changing euro area trade patterns: stylised facts......Page 40
3.1 Suitability of the gravity model......Page 43
3.2 Data......Page 45
3.3 Estimation results......Page 46
3.4 Overall trade intensity indicators......Page 49
3.5 Bilateral trade intensity: CEEC......Page 52
3.6 Bilateral trade intensity: China......Page 53
4 Conclusions......Page 56
Data sources......Page 57
References......Page 59
1 Introduction......Page 61
2 Data source and method of data compilation......Page 63
3 Trends and patterns of production fragmentation......Page 65
4 Determinants of fragmentation trade......Page 77
References......Page 86
1 Introduction......Page 89
2 Description of the data......Page 91
2.1 Representativeness of the sample......Page 92
2.2 Firm heterogeneity in the sample......Page 95
3 Exports and multinational activity......Page 97
4 Location choices of MNEs......Page 104
5 Dynamics......Page 112
6 Conclusions......Page 114
References......Page 116
1 Introduction......Page 118
2 Overview of the trade channel of the euro area......Page 119
3 Globalisation linkage 1: exports and foreign demand......Page 121
4 Globalisation linkage 2: the strength of intra- relative to extra-euro area trade......Page 128
5 Globalisation linkage 3: net trade and the import content of exports......Page 131
An econometric assessment of extra-euro area trade in goods......Page 135
Extra-euro area export volumes of goods......Page 136
Extra-euro area export prices......Page 138
Extra-euro area import prices......Page 140
References......Page 141
1 Introduction......Page 142
2 Theoretical predictions and existing empirical estimates......Page 143
3 Trade and employment: a factor content of trade analysis......Page 147
3.1 Aggregate US manufacturing employment......Page 149
3.2 Sectoral US manufacturing employment......Page 154
4 Impacts of increasing openness by region on the labour market: a sectoral VAR analysis......Page 155
4.1 The sectoral VAR model......Page 156
4.2 The sectoral VAR results......Page 158
5 Conclusions......Page 168
B Data......Page 170
C Aggregation weights......Page 172
References......Page 174
Index......Page 176