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  <title>EconStor Community:</title>
  <link rel="alternate" href="https://hdl.handle.net/10419/62783" />
  <subtitle />
  <id>https://hdl.handle.net/10419/62783</id>
  <updated>2026-04-28T14:09:21Z</updated>
  <dc:date>2026-04-28T14:09:21Z</dc:date>
  <entry>
    <title>Trade productivity upgrading, trade fragmentation, and FDI in manufacturing: The Asian development experience</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/64105" />
    <author>
      <name>Mora, Jesse</name>
    </author>
    <author>
      <name>Singh, Nirvikar</name>
    </author>
    <id>https://hdl.handle.net/10419/64105</id>
    <updated>2023-11-03T02:09:09Z</updated>
    <published>2012-01-01T00:00:00Z</published>
    <summary type="text">Title: Trade productivity upgrading, trade fragmentation, and FDI in manufacturing: The Asian development experience
Authors: Mora, Jesse; Singh, Nirvikar
Abstract: This paper examines the experience of 10 - Asian countries with respect to growth, trade and FDI. It explores relationships between the nature of exports and imports and growth, as well as the relevance of FDI as a channel for these relationships. We find that FDI is often positively correlated with higher productivity levels in exports and imports. The effect for imports is particularly apparent for imported intermediate goods, reflecting the emergence of greater trade fragmentation. In turn, both imported intermediates and exports that are associated with higher productivity levels are positively correlated with per capita GDP. This paper therefore brings together empirical evidence that integrates discussions of FDI, trade fragmentation and improvements in the productivity of traded goods.</summary>
    <dc:date>2012-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Trade dynamics in the East Asian miracle: A time series analysis of US-East Asia commodity trade, 1962-1992</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/64120" />
    <author>
      <name>Carolan, Terrie</name>
    </author>
    <author>
      <name>Mora, Jesse</name>
    </author>
    <author>
      <name>Singh, Nirvikar</name>
    </author>
    <id>https://hdl.handle.net/10419/64120</id>
    <updated>2023-12-13T02:34:31Z</updated>
    <published>2012-01-01T00:00:00Z</published>
    <summary type="text">Title: Trade dynamics in the East Asian miracle: A time series analysis of US-East Asia commodity trade, 1962-1992
Authors: Carolan, Terrie; Mora, Jesse; Singh, Nirvikar
Abstract: We examine the composition of bilateral trade between the United States and eight Asian Pacific economies from 1962 to 1992. Two complementary time series analyses of individual commodities at the SITC four-digit level indicate that significant changes occurred in trade composition during this period. We use a measure of normalized trade balances, developed by Gagnon and Rose (1995). For the eight bilateral trade relationships, commodities representing from fifty to seventy percent of 1992 dollar trade have shown statistically significant changes in the magnitude and, in some cases, in the direction of normalized trade balances, over the thirty-year period. Results support the conclusion that changes in trade patterns in both low-tech industries, such as textiles and clothing, and more high-tech industries, such as electronic parts and electronic goods, were important in the development of the East Asian economies.</summary>
    <dc:date>2012-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Managing financial integration and capital mobility: Policy lessons from the past two decades</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/64074" />
    <author>
      <name>Aizenman, Joshua</name>
    </author>
    <author>
      <name>Pinto, Brian</name>
    </author>
    <id>https://hdl.handle.net/10419/64074</id>
    <updated>2023-11-10T02:26:54Z</updated>
    <published>2011-01-01T00:00:00Z</published>
    <summary type="text">Title: Managing financial integration and capital mobility: Policy lessons from the past two decades
Authors: Aizenman, Joshua; Pinto, Brian
Abstract: The accumulated experience of emerging markets over the last two decades has laid bare the tenuous links between external financial integration and faster growth on the one hand and the proclivity of such integration to fuel costly crises on the other. These crises have not gone without learning. During the 1990s and 2000s, emerging markets converged to the middle ground of the policy space defined by the macroeconomic trilemma, with growing financial integration, controlled exchange rate flexibility and proactive monetary policy. The OECD countries moved much faster towards financial integration, embracing financial liberalization, opting for a common currency in Europe, and for flexible exchange rates in other OECD countries. Following their crises of 1997-2001, emerging markets added financial stability as a goal, self-insured by building up international reserves and adopted a public finance approach to financial integration. The global crisis of 2008-09, which originated in the financial sector of advanced economies, meant that the OECD overshot the optimal degree of financial deregulation while the remarkable resilience of the emerging markets validated their public finance approach to financial integration. The story is not over: with capital flowing in droves to emerging markets once again, history could repeat itself without dynamic measures to manage capital mobility as part of a comprehensive prudential regulation effort.</summary>
    <dc:date>2011-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>The fiscal stimulus of 2009-10: Trade openness, fiscal space and exchange rate adjustment</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/64026" />
    <author>
      <name>Aizenman, Joshua</name>
    </author>
    <author>
      <name>Jinjarak, Yothin</name>
    </author>
    <id>https://hdl.handle.net/10419/64026</id>
    <updated>2024-01-01T02:29:52Z</updated>
    <published>2011-01-01T00:00:00Z</published>
    <summary type="text">Title: The fiscal stimulus of 2009-10: Trade openness, fiscal space and exchange rate adjustment
Authors: Aizenman, Joshua; Jinjarak, Yothin
Abstract: This paper studies the cross-country variation of the fiscal stimulus and the exchange rate adjustment propagated by the global crisis of 2008-9, identifying the role of economic structure in accounting for the heterogeneity of response. We find that greater de facto fiscal space prior to the global crisis and lower trade openness were associated with a higher fiscal stimulus/GDP during 2009-2010 (where the de facto fiscal space is the inverse of the average tax-years it would take to repay the public debt). Lowering the 2006 public debt/average tax base from the level of low-income countries (5.94) down to the average level of the Euro minus the Euro-area peripheral countries (1.97), was associated with a larger crisis stimulus in 2009-11 of 2.78 GDP percentage points. Joint estimation of fiscal stimuli and exchange rate depreciations indicates that higher trade openness was associated with a smaller fiscal stimulus and a higher depreciation rate during the crisis. Overall, the results are in line with the predictions of the neo-Keynesian open-economy model.</summary>
    <dc:date>2011-01-01T00:00:00Z</dc:date>
  </entry>
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