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https://hdl.handle.net/1822/2740
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Campo DC | Valor | Idioma |
---|---|---|
dc.contributor.author | Cortinhas, Carlos | - |
dc.date.accessioned | 2005-09-01T15:56:52Z | - |
dc.date.available | 2005-09-01T15:56:52Z | - |
dc.date.issued | 2005 | - |
dc.identifier.uri | https://hdl.handle.net/1822/2740 | - |
dc.description.abstract | Recently, a new resolve for both increased economic integration and monetary and exchange rate cooperation has started to emerge in ASEAN, especially since the 1997- 1998 Asian financial crisis. According to the optimum currency area theory, the degree of trade integration is one most important criterion for joining a currency union. The large increase in intra-ASEAN trade in recent years naturally raises the question of whether the ASEAN countries are becoming better prepared to form a currency union. This paper sets to test whether the recorded increase in intra-ASEAN trade is leading the ASEAN members to closer economic integration and thus to better satisfy the criteria for a common currency. Two separate models are estimated for that purpose. First, a variation of the model of Frankel and Rose (1997) was estimated for the ASEAN members. As the results were not very significant, a new methodology that uses the whole sample period data instead of dividing the data into sub-periods was conducted. The results with our own model were very significant and robust when four of the ASEAN5 countries were considered, and showed a clear positive correlation between intra-industry trade and business cycle synchronization in ASEAN. This result has important implications for the prospects of the creation of a common currency in the region. | eng |
dc.description.sponsorship | Fundação para a Ciência e a Tecnologia - (FCT) | eng |
dc.language.iso | eng | eng |
dc.relation.ispartofseries | NIPE Working Paper series ; | eng |
dc.relation.ispartofseries | 7 | eng |
dc.rights | openAccess | eng |
dc.subject | Intra-Industry Trade | eng |
dc.subject | Business Cycle Harmonization | eng |
dc.subject | Economic Integration | eng |
dc.subject | Asean | eng |
dc.title | Intra-industry trade and business cycles in ASEAN | eng |
dc.type | workingPaper | eng |
Aparece nas coleções: | NIPE - Documentos de Trabalho |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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WP_NIPE_7_05.pdf | 486,05 kB | Adobe PDF | Ver/Abrir |