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Autoren: 
Linders, Gert-Jan M.
Slangen, Arjen
de Groot, Henri L.F.
Beugelsdijk, Sjoerd
Datum: 
2005
Reihe/Nr.: 
Tinbergen Institute Discussion Paper 05-074/3
Zusammenfassung: 
This paper studies the intangible costs of international trade by extending the basic gravity equation with measures of cultural and institutional distance, and institutional quality. Analyzing a sample of bilateral trade flows between 92 countries in 1999, we find that institutional distance has a negative effect on bilateral trade, presumably because the transaction costs of trade between partners from dissimilar institutional settings are high. In contrast, we find that cultural distance has a positive effect on bilateral trade. A potential explanation for this finding is that firms prefer trade to host-country production in culturally distant countries. Finally, we find that the institutional quality of both the importer and exporter increases the amount of bilateral trade.
Schlagwörter: 
trade
gravity model
cultural distance
institutions
JEL: 
F14
Dokumentart: 
Working Paper
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