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| Cardamone, Paola. |
| This paper reviews the empirical literature using a gravity model to assess the impact on trade of Preferential Trade Agreements (PTAs) and provides a critical analysis of the choices made to carry out the estimations. With respect to the effectiveness of PTAs, the main result that emerges from the review is that PTAs tend to foster trade between the countries involved. However, two empirical issues appear relevant. First, the use of dummy variables to proxy PTAs does not adequately describe the preferences granted and can be misleading. Indeed, the use of dummies does not allow to discern among the different preferential trade policy instruments used as well as to measure the level of the trade preferences granted. As a result, dummies do not allow to... |
| Tipo: Working or Discussion Paper |
Palavras-chave: International Relations/Trade. |
| Ano: 2007 |
URL: http://purl.umn.edu/7282 |
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| Agostino, Maria Rosaria; Aiello, Francesco; Cardamone, Paola. |
| There are two sources of bias in the existing gravity equations used to assess the impact of non-reciprocal preferential trade policies (NRPTPs). The main inconsistency comes from the use of aggregate export flows at country level to analyse the effects of trade preferences which, by contrast, apply at product level. The second source of bias is that the literature does not deal with the main econometric issues which are likely to be present when a gravity equation is estimated. This paper discusses the first problem using evidence based on three levels of data aggregation (total exports, total agricultural exports and 2-digit). Furthermore, the estimation methods take into account the unobservable country heterogeneity as well as the endogeneity of trade... |
| Tipo: Working or Discussion Paper |
Palavras-chave: International Relations/Trade. |
| Ano: 2007 |
URL: http://purl.umn.edu/7294 |
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| Cardamone, Paola; Scoppola, Margherita. |
| According to the theoretical models of the multinational enterprise, trade costs play a fundamental role in determining the pattern of foreign direct investment (FDI). The aim of this paper is to assess the impact of trade policies on the outward stocks of FDI of the EU. We estimate a model based on the knowledge-capital theory of the multinational enterprise over the period 1995-2008 by using a sample of five EU countries and 26 partner countries. We consider, first, manufacturing sector as a whole and, then, six manufacturing industries defined at the two-digit level of the NACE classification. Explanatory variables include an index of applied bilateral tariffs and a dummy to capture the presence of Bilateral Investment Treaties (BITs). From an... |
| Tipo: Presentation |
Palavras-chave: FDI; Trade protection; Knowledge-capital model; Dynamic panel data; International Relations/Trade; F15; F21; F23; C33. |
| Ano: 2012 |
URL: http://purl.umn.edu/123993 |
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| Cardamone, Paola; Scoppola, Margherita. |
| Abstract According to the theoretical models of the multinational enterprise, trade costs play a fundamental role in determining the pattern of foreign direct investment (FDI). The aim of this paper is to assess the impact of trade policies on the outward stocks of FDI of the EU. We estimate a model based on the knowledge-capital theory of the multinational enterprise over the period 1995-2008 by using a sample of five EU countries and 26 partner countries. We consider, first, manufacturing sector as a whole and, then, six manufacturing industries, among which the food industry, defined at the two-digit level of the NACE classification. Explanatory variables include an index of applied bilateral tariffs and a dummy to capture the presence of Bilateral... |
| Tipo: Presentation |
Palavras-chave: FDI; Trade protection; Knowledge-capital model; International Relations/Trade; F15; F21; F23; C33. |
| Ano: 2012 |
URL: http://purl.umn.edu/124106 |
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