Ghulam Shabbir, Amjad Naveed, Muhammad Ali Khan, Shabib Haider Syed
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Does Peace Promote Bilateral Trade Flows? An Economic Analysis of Panel Data in Asian Perspective
This study investigates the effect of peace on the bilateral trade flows of Pakistan under the framework of the gravity model. Specifically, we tested the impact of peace (using the Global Peace Index) in Pakistan relative to its 26 trading partners on trade flows from 2007 to 2018. Using system GMM estimation procedure that takes care of endogeneity issues, this study shows that the standard gravity model does not hold in the case of Pakistan. Therefore, it is important to investigate whether the peace in Pakistan and its trading partner promotes trade in the regions. Furthermore, the results indicate that a rise in the prevalence of peace in Pakistan relative to its trading nation has significantly and positively contributed to its trade flows. Besides, development of infrastructure improves trade flow due to low transportation cost. From a policy perspective, reducing conflict and promoting peace will further encourage neighboring countries to enhance trade relations, which will be beneficial for the whole region.
期刊介绍：
Comparative Economic Studies is a journal of the Association for Comparative Economic Studies (ACES). It aims to publish papers that address several objectives: that provide original political economy analysis from a comparative perspective, that are an accessible source for state-of-the-art comparative economics thinking, that encourage cross-fertilization of ideas, that debate directions for future research in comparative economics, and that can provide materials and insights that are relevant for teaching, public policy debate and the media. Comparative Economic Studies welcome both submissions that are explicitly comparative and case studies of single countries or regions. The journal is interested in papers that investigate how economic systems respond to economic transitions, crises and to structural change, brought about by globalization, demographics, institutions, technology, politics, and the environment. While maintaining its position as an important outlet for work on Central Europe and the Former Soviet Union, the scope of Comparative Economic Studies encompasses other areas as well (European Union, Asia, Latin America, and Africa).
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