Trade in the Triad: How Easy is the Access to Large Markets?
Lionel Fontagné (),
Thierry Mayer () and
Soledad Zignago ()
No 4442, CEPR Discussion Papers from C.E.P.R. Discussion Papers
We identify in this Paper the level of trade integration between the three largest economic powers of the world, often called the Triad: The United States, the EU and Japan. We focus on measuring possible asymmetries in market access between members of the Triad using border effects between each of those partners. We investigate trends of bilateral trade openness and show notably that there has been a deterioration of the relative access of Japanese exporters on both the American and EU markets in the 1990s. Results also show which industries have the most asymmetric market access among the different combinations of those partners. We finally provide explanations for the estimated border effects using proxies for bilateral observed protection (tariffs and NTBs), home bias of consumers, product differentiation and levels of FDI. Tariffs still matter in shaping trade patterns even in cases where those tariffs are low in magnitude. The explanations related to actual protection, home bias and substitutability of goods put together explain a large part of the border effect between blocs of the triad, although they do not explain the whole of the border effect puzzle.
Keywords: border effects; european union; gravity; japan; market access; triad; united states (search for similar items in EconPapers)
JEL-codes: F12 F15 (search for similar items in EconPapers)
References: Add references at CitEc
Citations View citations in EconPapers (16) Track citations by RSS feed
Downloads: (external link)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at email@example.com
Journal Article: Trade in the Triad: how easy is the access to large markets? (2005)
Working Paper: Trade in the Triad: how easy is the acess to large markets ? (2005)
Working Paper: Trade in the Triad: how easy is the access to large markets? (2005)
Working Paper: Trade in the Triad: How Easy is the Access to Large Markets? (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:4442
Ordering information: This working paper can be ordered from
http://www.cepr.org/ ... ers/dp.php?dpno=4442
Access Statistics for this paper
More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 77 Bastwick Street, London EC1V 3PZ..
Bibliographic data for series maintained by (). This e-mail address is bad, please contact .