Trade and investment convergence clubs in East Asia Pacific
Document Type
Article
Publication Date
1-1-2018
Abstract
East Asia Pacific has catapulted to be the most dynamic region in the world as a result of economic liberalisation and sustainable growth. This study seeks to investigate if selected East Asian countries are able to converge in terms of trade and investment openness. This paper uses the concept of Phillips and Sul to evaluate trade and investment convergence in East Asia Pacific region during the period 1990 to 2016. The overall results do not support the hypothesis that all countries converge on a single equilibrium in trade and investment liberalisation. However, findings point to the existence of club convergence.
Keywords
Catch-up effect, Convergence club, East Asia pacific, Trade openness
Divisions
FacultyofEconomicsAdministration
Publication Title
Institutions and Economies
Volume
10
Issue
4
Publisher
Faculty of Economics and Administration, University of Malaya