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Is Trade Integration Leading to Regionalization? Evidence from Cross-Country Network Analysis

Vidya C.T. (vidya@cess.ac.in), Prabheesh K.P. (prabheesh@iith.ac.in) and Saahil Sirowa
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Vidya C.T.: Centre for Economic Social Studies Hyderabad, India, Postal: Nizamiah Observatory Campus, Begumpet, Hyderabad, India, https://www.e-jei.org/journal/view.php?doi=10.11130/jei.2020.35.1.10
Prabheesh K.P.: Indian Institute of Technology Hyderabad, India, Postal: Indian Institute of Technology Hyderabad, India, https://www.e-jei.org/journal/view.php?doi=10.11130/jei.2020.35.1.10
Saahil Sirowa: Indian Institute of Technology Hyderabad, India, Postal: Indian Institute of Technology Hyderabad, India, https://www.e-jei.org/journal/view.php?doi=10.11130/jei.2020.35.1.10

Journal of Economic Integration, 2020, vol. 35, issue 1, 10-38

Abstract: The present paper empirically analyzes the structural change in world trade over the last two decades by examining trade integration, leadership, and regionalization through a network model. We selected 50 countries encompassing both developed and developing nations and grouped them into 9 regions for 1990, 1992, 2000, 2010, and 2017. We have undertaken two principal analyses: (i) trade intensity indices and regionalization and (ii) linking trade intensity with network analysis. Therefore, this paper reaches a trade-off condition. The major findings of the study are as follows: (i) regional integration is stronger and has increased over the years; (ii) trade regionalization is primarily dominated by developed regions; (iii) trade liberalization has reduced the gap between the center and periphery; (iv) emerging Asian economies have developed as leaders and export hubs of goods in the global market; (v) trade liberalization has transformed and reshaped the world trade structure; and (vi) trade liberalization has not driven the lessening geodesic distance and transport costs from trade, and thus, there are no major gains for many countries.

Keywords: Trade Intensity Indices; Network Analysis; Regionalization; Trade Integration; Trade Introversion. (search for similar items in EconPapers)
JEL-codes: D85 F14 F15 (search for similar items in EconPapers)
Date: 2020
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