Does currency matter for regional trade integration?

被引：4

作者：

He, Qing

Zhang, Ce

Zhu, Wenyu ^{[1
]}

机构：

[1] Renmin Univ China, China Financial Policy Res Ctr, 59 Zhongguancun St, Beijing 100872, Peoples R China

来源：

INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2021年 / 76卷

关键词：

Currency integration; Currency integration Trade integration; Regional trade agreement; INTERNATIONAL-TRADE; MONEY;

D O I：

10.1016/j.iref.2019.11.010

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper examines the determinants of regional trade integration using information on trade and foreign exchange turnovers for the majority of the Regional Trade Agreements (RTAs) worldwide. We find a U-shaped relationship between the degrees of currency integration and trade integration within RTAs. When the share of the most frequently used regional currency is low, using the local currency impedes intra-RTA trade. However, upon exceeding a certain threshold, currency integration enhances intra-RTA trade. Moreover, the currency-trade-integration relationship varies with a few key RTA characteristics, including the number of member countries, differences in economic development among member countries, and trade and financial openness.

引用

页码：1219 / 1234

页数：16

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