GTAP Resources: Resource Display
| GTAP Resource #3237 |
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"The Analysis of Trade Integration and Business Cycles Synchronization with Emphasis on Regional Arrangements among OIC Nations" by Karimi, Farzad and Akbar Tavakoli Abstract The main purpose of the present paper is to analyze the trade flows among Organization of the Islamic Conference (OIC) member nations applying proper trade integration indexes (including inter-industry, intra–industry, and complementary trades) and business cycles synchronization (BCS). The data covers Islamic nations and three major regional blocks of ECO, GCC, and D8 for the globalization period of 1990 to 2005. The following results are found. (1) The BCS index shows a high correlation coefficient of 0.70 for OIC nations and 0.497, 0.943, and 0.972 for GCC, ECO and D8, respectively. This confirms the positive effect of regional economic arrangements on the BCS. (2) Among the OIC partners, about 85 percent and 15 percent of total trade are related to inter-industry trade and intra–industry trade, respectively. The average inter-industry trade index also shows a significant increase of trade intensity to a level of 4.4 among OIC nations. As a result of regional blocks, the trade integration indices dramatically improved among the member nations and particularly the flows of intra-industry trade intensities increased by three times (0.562 and 0.417 in GCC and D8 members, respectively) compared to Islamic nations as a whole. (3) The level of complementary trade index is 3.6 for OIC members, compared to ECO, D8, and GCC with the values of 0.99, 1.02, and 1.50, respectively. The GCC regional block shows relatively more complementary trades than the other two blocks. (4) Overall, the BCS index and trade integration indexes are relatively high for all Islamic nations and particularly for regional blocks during the globalization period. Keywords: Trade Integration, Business Cycles Synchronization, OIC Nations, Regional Block Arrangements |
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- Preferential trading arrangements - Asia (East) - Asia (Southeast) - Asia (South-Central) - Middle East - Africa (North) - Africa (Central) - Africa (East) - Africa (West) |
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Public Access  2010 Conference Paper (189.1 KB) Replicated: 0 time(s)Restricted Access No documents have been attached. Special Instructions No instructions have been specified. |
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Last Modified: 9/15/2023 2:05:45 PM
