Files and links (1)
PDFOpen Access (License Unspecified), Open Access
Dissertation
The economic integration of the Asia Pacific region: trade, investment and the macroeconomy
Doctor of Philosophy (Ph.D.), Drexel University
1996
DOI:
https://doi.org/10.17918/00007897
Abstract
This dissertation presents three major findings. First is that the Asia Pacific Region (APR) is economically integrated and the relationship is stronger at the regional level than bilateral level. Second, trade is regionally dependent and regional dynamics again outweigh any bilateral relationships. The third finding was the complementary relationship between trade and Foreign Direct Investment flows in the APR. Given the strong regional impact on trade, and the strong impact trade has on FDI, it is concluded that regional forces impact FDI through trade. This work extends the research on the role geography plays in determining patterns of trade and investment. The investigation thus far has been limited to the impact of formal regional arrangement on these variables. However, there need not be a formal arrangement for geography to play a part in trade and investment patterns. The existence of a regional bias in these flows in the absence of a formal regional arrangement is called Regionalization. Thus work has shown that region plays a part in determining APR trade and investment patterns and that Regionalization is at work in the area. The degree of economic integration in the region is shown through the linkages among the macroeconomies of the countries in the study. These economies include Hong Kong, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan, and Thailand. They were shown to share common long run trends in their output, interest rates and price levels variables. Evidence of common trends were stronger on a multilateral, or group, basis than in bilateral relationships. The existence of integration is shown through the existence of common trends while regional importance is evidenced through strong multilateral links. Regional impact on trade was evidenced through strong multilateral linkages in exports, import and total trade flows. The gravity equation provided consistent proof of a regional impact beyond simple distance factors. Foreign direct Investment was also shown to be regionally dependent. Finally, trade and foreign direct investment were shown to have a significant and complementary relationship in the region.
Metrics
10 File views/ downloads
12 Record Views
Details
- Title
- The economic integration of the Asia Pacific region
- Creators
- Susan F. Stone
- Contributors
- Bang Nam Jeon (Advisor) - Drexel University, Drexel University (1970-)
- Awarding Institution
- Drexel University
- Degree Awarded
- Doctor of Philosophy (Ph.D.)
- Publisher
- Drexel University; Philadelphia, Pennsylvania
- Number of pages
- xii, 213 pages
- Resource Type
- Dissertation
- Language
- English
- Academic Unit
- College of Business (and) Administration (1970-1999); Drexel University
- Other Identifier
- 991021889100104721