{"title":"The Effects of Financial Integration on Structural Similarity: Consumption Risk-sharing and Specialization","authors":"Taiyo Yoshimi","doi":"10.5652/INTERNATIONALECONOMY.IE2009.04.Y","DOIUrl":"https://doi.org/10.5652/INTERNATIONALECONOMY.IE2009.04.Y","url":null,"abstract":"Using panel data for 17 Organization for Economic Co-operation and Development (OECD) countries for the period 1983-2003, this paper investigates the effects of financial integration on specialization and international structural similarity. Theoretically, financial integration motivates countries to specialize on the basis of their comparative advantages and decreases the structural similarity between them. Our empirical analyses support the hypothesis.","PeriodicalId":22492,"journal":{"name":"The International economy","volume":"51 1","pages":"50-64"},"PeriodicalIF":0.0,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80352587","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Russian Financial Crisis: An Empirical Investigation","authors":"Zinkovskaya Elena","doi":"10.5652/INTERNATIONALECONOMY.2008.12_52","DOIUrl":"https://doi.org/10.5652/INTERNATIONALECONOMY.2008.12_52","url":null,"abstract":"The purpose of this paper is to assess empirically the relative contribution of various domestic and external factors to the Russian financial crisis outburst in 1998. The results of probit estimations suggest that the highest share in the overall crisis probability was associated with external capital flows and the state of international liquidity. The banking sector fragility in spheres of foreign borrowing and domestic lending was another factor mainly responsible for the country's vulnerability to a crisis. The government finance problems and exchange rate misalignments, commonly blamed for the rouble crash, played only a minor role in the crisis eruption.","PeriodicalId":22492,"journal":{"name":"The International economy","volume":"13 1","pages":"52-76"},"PeriodicalIF":0.0,"publicationDate":"2008-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79192976","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Firm Heterogeneity in International Trade Theory","authors":"T. Furusawa","doi":"10.5652/INTERNATIONALECONOMY.2008.12_3","DOIUrl":"https://doi.org/10.5652/INTERNATIONALECONOMY.2008.12_3","url":null,"abstract":"The literature of firm heterogeneity in international trade grows rapidly in recent years. This paper reviews the theoretical development of the topic, and tries to find future directions of this research agenda. JEL Classification: D21, D43, F12","PeriodicalId":22492,"journal":{"name":"The International economy","volume":"13 1","pages":"3-8"},"PeriodicalIF":0.0,"publicationDate":"2008-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84661380","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Industrial capital accumulation, environment and urban unemployment in a developing economy","authors":"Ichiroh Daitoh","doi":"10.5652/INTERNATIONALECONOMY.2008.12_43","DOIUrl":"https://doi.org/10.5652/INTERNATIONALECONOMY.2008.12_43","url":null,"abstract":"","PeriodicalId":22492,"journal":{"name":"The International economy","volume":"10 1","pages":"43-51"},"PeriodicalIF":0.0,"publicationDate":"2008-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85999316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Shift from Market-driven to Institution-driven Regionalization in East Asia","authors":"S. Urata","doi":"10.5652/KOKUSAIKEIZAI.2007.47","DOIUrl":"https://doi.org/10.5652/KOKUSAIKEIZAI.2007.47","url":null,"abstract":"East Asia has been witnessing a shift from market-driven regionalization to institution-driven regionalization since the late 1990s.Prior to the financial crisis in 1997, a market mechanism, which became to function efficiently thanks to substantial liberalization in trade and foreign direct investment polices, was a major promoter of regionalization in East Asia.Since the crisis, institutional factors such as free trade agreements and cooperation programs have increased their importance in regionalization.To achieve further economic growth, East Asian countries need to establish a region-wide FTA and an economic community.Japan, the most advanced country in the region, is expected to play a leading role in establishing such institutions.","PeriodicalId":22492,"journal":{"name":"The International economy","volume":"241 1","pages":"47-68"},"PeriodicalIF":0.0,"publicationDate":"2007-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77268835","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Professor Kiyoshi Kojima's Contributions to FDI Theory: Trade, Growth, and Integration in East Asia","authors":"T. Ozawa","doi":"10.5652/INTERNATIONALECONOMY.2007.17","DOIUrl":"https://doi.org/10.5652/INTERNATIONALECONOMY.2007.17","url":null,"abstract":"Professor Kojima of Hitotsubashi University is a leading Japanese economist. This article reviews and interprets two of his major ideas; a theory of pro-trade FDI and an extended “flying-geese” theory and explores their theoretical implications. Pro-trade FDI rests on the doctrine of comparative advantage, yet surprisingly Ricardo failed to apply the same logic to FDI flows. Production fragmentation that leads to intraindustry trade is governed by the doctrine. Kojima extends the evolutionary sequence of “importing-domestic production-exporting” to the next phase of “exporting-outward FDIimporting, ”hence a full circle from importing to importing. This structural transformation underlines East Asian industrial dynamism.","PeriodicalId":22492,"journal":{"name":"The International economy","volume":"35 1","pages":"17-33"},"PeriodicalIF":0.0,"publicationDate":"2007-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78807750","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Building East Asia Community","authors":"Ippei Yamazawa","doi":"10.5652/KOKUSAIKEIZAI.2007.5","DOIUrl":"https://doi.org/10.5652/KOKUSAIKEIZAI.2007.5","url":null,"abstract":"While East Asian Community is shared widely in East Asia as a long-term goal, economic, political/diplomatic, and other conditions need to be filled in order to achieve it.Individual East Asian economies have different visions and expectations for East Asian Community, which tend to impede community building.We have to identify them correctly and search for a roadmap so as to realize a maximum benefit for as many member economies as possible.To conclude, I propose a new research and educational approach by organizing a multicultural and inter-generational joint study.","PeriodicalId":22492,"journal":{"name":"The International economy","volume":"95 1","pages":"5-15"},"PeriodicalIF":0.0,"publicationDate":"2007-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90707068","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Towards a New Dynamic General Equilibrium Model of Trade and Wealth Distribution","authors":"Koji Shimomura","doi":"10.5652/INTERNATIONALECONOMY.2007.11","DOIUrl":"https://doi.org/10.5652/INTERNATIONALECONOMY.2007.11","url":null,"abstract":"This paper formulates a new two-country dynamic Heckscher-Ohlin model of trade with endogenous time preferences a la Uzawa (1968), which explains not only trade patterns but also international wealth distribution between countries.","PeriodicalId":22492,"journal":{"name":"The International economy","volume":"9 1","pages":"11-16"},"PeriodicalIF":0.0,"publicationDate":"2007-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81283815","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"IMPACTS OF JAPANESE FTAs/EPAs: PRELIMINARY POST EVALUATION","authors":"M. Ando","doi":"10.5652/INTERNATIONALECONOMY.2007.57","DOIUrl":"https://doi.org/10.5652/INTERNATIONALECONOMY.2007.57","url":null,"abstract":"This paper attempts to provide post evaluation of Japanese EPAs and draw policy implications for future FTAs/EPAs. Our gravity model estimation as well as detailed analysis on trade and actual tariff reduction by EPAs demonstrates that the Japan-Singapore EPA has almost no direct impact on trade since actual reduction of tariffs by the EPA is quite limited. On the other hand, our empirical investigation confirms a certain degree of positive impact of the Japan-Mexico EPA on trade, particularly on the export side, and investment. Several important outcomes of the EPA beyond tariff removal are also revealed.","PeriodicalId":22492,"journal":{"name":"The International economy","volume":"194 1","pages":"57-83"},"PeriodicalIF":0.0,"publicationDate":"2007-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82800675","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"GMO Trade and the International Regulation Structure and Perspective of the International Regulations","authors":"Toshikazu Yamakawa","doi":"10.5652/KOKUSAIKEIZAI.2007.69","DOIUrl":"https://doi.org/10.5652/KOKUSAIKEIZAI.2007.69","url":null,"abstract":"International dispute concerning the trade and “safety issues” have significant implication.It is how to control the trade goods which have the characteristic caused by the use of the specific chemicals or additives, and biotechnology, especially “Genetically Modified (GM) technology”.In this article, we explore GMO trade and the international regulations. Especially we focus on“The Cartagena Protocol on Biosafety”.Aim of this paper is clarifying the structure of international regulation regimes concerning GMO trade and showing the perspective of future GMO regulation.","PeriodicalId":22492,"journal":{"name":"The International economy","volume":"14 1","pages":"69-89"},"PeriodicalIF":0.0,"publicationDate":"2007-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81929354","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}