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The Gravity Model in International Trade : Advances and Applications - Steven Brakman

The Gravity Model in International Trade

Advances and Applications

By: Steven Brakman (Editor), Peter A. G. van Bergeijk. (Editor)

Hardcover

Published: 26th July 2010
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How do borders affect trade? Are cultural and institutional differences important for trade? Is environmental policy relevant to trade? How does one's income or wage relate to the fact that trade partners are nearby or far away?

These are just some of the important questions that can be answered using the gravity model of international trade. This model predicts and explains bilateral trade flows in terms of the economic size of, and distance between, trading partners (e.g. states, regions, countries, trading blocs). In recent years, there has been a surge of interest in this model and it is now one of the most widely employed tools in applied international economics. This book traces the history of the gravity model and takes stock of recent methodological and theoretical advances, including new approximations for multilateral trade resistance, insightful analyses of the measurement of economic distance, and analyses of offoreign direct investment.

"Theoretical foundations and empirical estimation strategy of gravity models have significantly advanced over the last years. By tracing the history of this evolution and offering a rich sample of applications, this book will prove to be a very useful reference to both those new to the field and those in search of an up-to-date treatment of theoretical and methodological issues related to gravity models." Roberta Piermartini, Senior Economist, Economic Research and Statistics Division, WTO, Geneva

'Theoretical foundations and empirical estimation strategy of gravity models have significantly advanced over the last years. By tracing the history of this evolution and offering a rich sample of applications, this book will prove to be a very useful reference to both those new to the field and those in search of an up-to-date treatment of theoretical and methodological issues related to gravity models.' Roberta Piermartini, World Trade Organisation

List of figures
List of tables
Introduction: the comeback of the gravity equation
Methodology:
A general equilibrium theory for estimating gravity equations of bilateral FDI, final goods, and intermediate trade flows
The incidence of gravity
Approximating general equilibrium impacts of trade liberalizations using the gravity equation: applications to NAFTA and the European Economic Area
An extended gravity model with substitution applied to international trade
Distance in the Gravity Model:
Illusory border effects: distance mismeasurement inflates estimates of home bias in trade
Trade costs, market access and economic geography: why the empirical specification of trade costs matters
Intangible barriers to international trade: a sectoral approach
Specific Applications:
International environmental arrangements and international commerce
Diplomatic relations and trade reorientation in transition countries
Unlocking the value of cross-border mergers and acquisitions
The impact of economic geography on GDP per capita in OECD countries
Index
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521196154
ISBN-10: 0521196159
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 374
Published: 26th July 2010
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 22.8 x 15.2  x 2.5
Weight (kg): 0.72