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on South East Asia |
| By: | Kyoji Fukao and Toshihiro Okubo (IUHEI, The Graduate Institute of International Studies, Geneva) |
| Abstract: | This paper analyzes the causes of the decline in Japan’s border effect by estimating gravity equations for Japan’s international and interregional trade in four machinery industries (electrical, general, precision, and transportation machinery). In the estimation, we explicitly take account of firms’ networks. We find that ownership relations usually enhance trade between two regions (countries), and also find that we can explain 35% of the decline in Japan’s border effect from 1980 to 1995 in the electrical machinery industry by the increase of international networks. JEL Classification numbers: F14; F17; F21;L14 |
| Keywords: | Gravity Model; Border Effect; Networks |
| URL: | http://d.repec.org/n?u=RePEc:gii:giihei:heiwp12-2004&r=sea |
| By: | Pablo Bustelo (Universidad Complutense de Madrid. Facultad de Ciencias Económicas y Empresariales. Dpto. Economía Aplicada I.) |
| Abstract: | This paper suggests, first, that a simple theoretical framework is useful in explaining financial crises in emerging economies. Second, it reviews the East Asian financial crises of 1997-98 . Third, the paper examines the origins of Argentina’s crisis of 2001-02. Fourth, it presents a comparative analysis of both crises, highlighting their similarities and differences. Finally, the conclusions point out the drawbacks of both hard and soft pegs respective to a single foreign currency as well as the need for emerging economies to use capital controls in order to avoid the recurrence of financial crises. |
| Date: | 2004 |
| URL: | http://d.repec.org/n?u=RePEc:ucm:doctra:04-17&r=sea |