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Essays in Regional Integration and I...

Kamara, Alimamy.

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Essays in Regional Integration and International Macroeconomics.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Essays in Regional Integration and International Macroeconomics./
作者:	Kamara, Alimamy.
出版者:	Ann Arbor : ProQuest Dissertations & Theses, : 2016,
面頁冊數:	261 p.
附註:	Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.
Contained By:	Dissertation Abstracts International78-08A(E).
標題:	Economics. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10585362
ISBN:	9781369638349

Essays in Regional Integration and International Macroeconomics.
Kamara, Alimamy.

Essays in Regional Integration and International Macroeconomics. - Ann Arbor : ProQuest Dissertations & Theses, 2016 - 261 p.

Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.

Thesis (Ph.D.)--North Carolina State University, 2016.

This dissertation provides an analysis of international trade flows and investigates the effects of exchange rate fluctuations on trade prices and in ation for a group of industrialized and emerging economies in Latin America and Southeast Asia. The study also investigates the relationship between the real exchange rate and productivity differential of tradables relative to nontradables for one of the fastest growing economies in Sub-Saharan Africa, South Africa. In particular, the dissertation comprises three independent essays on international trade and international macroeconomics.

ISBN: 9781369638349Subjects--Topical Terms:

517137
Economics.

Essays in Regional Integration and International Macroeconomics.
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300 $a 261 p.
500 $a Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.
500 $a Advisers: Barry K Goodwin; Ivan Kandilov.
502 $a Thesis (Ph.D.)--North Carolina State University, 2016.
520 $a This dissertation provides an analysis of international trade flows and investigates the effects of exchange rate fluctuations on trade prices and in ation for a group of industrialized and emerging economies in Latin America and Southeast Asia. The study also investigates the relationship between the real exchange rate and productivity differential of tradables relative to nontradables for one of the fastest growing economies in Sub-Saharan Africa, South Africa. In particular, the dissertation comprises three independent essays on international trade and international macroeconomics.
520 $a In the first essay, I investigate the effects of institutional failures, political risks and regional integration agreements on bilateral trade for a group of 46 countries in three distinct regional trade blocs viz the EU, ECOWAS and NAFTA. To carry out this investigation, I develop an augmented gravity model from a monopolistic competition model of product differentiation. Using the Poisson Quasi Maximum Likelihood (PQML), the Heckman two-stage, Tobit and Negative Binomial estimation techniques on the augmented gravity model, I argue that stronger institutions of trading partners leads to an increase in trade. This is so because stronger institutions of both the exporting and importing countries in the form of good regulatory and legal frameworks reduce the uncertainty in contract enforcement, lower transactions costs and ultimately increase trade. I also find that regional integration boosts bilateral trade, but there is evidence of trade diversion in WAMZ and MRU trading blocs. The proposition that geographically proximate partners traded more is supported according to the results, but there is little empirical support for the hypothesis that differences in factor endowment predict patterns of trade in the sample of countries.
520 $a The second essay employs quarterly time series data to examine the dynamic response of trade prices and inflation to exchange rate shocks for three OECD countries and a group of emerging economies in Southeast Asia and Latin America. The study begins by decomposing the exchange rate pass-through into 'First-Stage pass-through' and the 'Second-Stage passthrough' with the help of a simple optimization of the exporting firm's profit function in a partial equilibrium framework. To examine this dynamic behavior of prices, I used a structural vector autoregression (SVAR) model to derive the impulse response functions to exchange rate shocks for the different group of prices. From the structural and accumulated impulse responses, it is evident that pass-through is incomplete in each of the nine countries. However, pass-through to trade prices and inflation are much higher in emerging economies than OECD economies.
520 $a In the final essay I provide evidence on how real exchange rates respond to changes in productivity differential between the tradable and nontradable goods sectors for South Africa using quarterly data for the period 1993 through 2015. In the study I decompose the Balassa-Samuelson's effect into two separate effects---domestic and foreign effects---and propose a structural cointegrated VAR with weakly exogeneous foreign variables (VECX*) in the spirit of Garrett et al. (2003) to outline the relationship between the real exchange rates and sectoral productivity differential. This type of model is regarded as an augmented form of the vector error correction model (VECM). In order to obtain estimates of the equilibrium long run relationships between the variables of both the domestic and international B-S model, I employ the standard autoregressive distributed lag (ARDL) estimation method. In general, the results support the prediction of the productivity bias hypothesis that increases in productivity differential result in an increase in the price of nontradables in both South Africa and the US and an appreciation of the real exchange rate. Our results are consistent with those of Lewis (2007), Berka et al. (2012) and the productivity differential hypothesis. Terms of trade, trade liberalization and the real interest rate differential also play a major role in creating movements in the real exchange rate.
590 $a School code: 0155.
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650 4 $a Economic theory. $3 1556984
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