The varying relevance of impact factors in gravity models: An explanation of the delayed development towards global trade
Bernard Gilroy () and
Nico Stöckmann ()
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Nico Stöckmann: Paderborn University
No 105, Working Papers CIE from Paderborn University, CIE Center for International Economics
Factors in uencing bilateral trade between OECD members vary over time. The change in the relevance of binary variables with progressive globalisation can be attributed to individuals' decisions. These are aggregated as utility functions of heterogeneous agents to justify the delay towards global trade.
Keywords: Globalisation; Trade; Utility Function; Gravity Equation (search for similar items in EconPapers)
JEL-codes: D81 F14 F62 (search for similar items in EconPapers)
Pages: 19 pages
New Economics Papers: this item is included in nep-int and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:pdn:ciepap:105
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