Monetary Policy and the Time-Varying Spatial Effects of Bilateral Trade: Evidence from China-ASEAN-5 Countries

被引：4
|
作者：
Wu, Po-Chin [1 ]
Liu, Shiao-Yen [1 ]
机构：
[1] Chung Yuan Christian Univ, Dept Int Business, 200,Chung Pei Rd, Chungli 320, Taiwan
来源：
APPLIED SPATIAL ANALYSIS AND POLICY | 2017年 / 10卷 / 01期
关键词：
Bilateral trade balance; Gravity model; Time-varying spatial effect; Panel smooth transition regression specification; REAL EXCHANGE-RATE; INTERDEPENDENCE; SPECIFICATION; INVESTMENT; FLOWS; CHINA; MODEL;
D O I：
10.1007/s12061-015-9175-x
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
This paper examines the China-ASEAN (Association of Southeast Asian Nations)-5 bilateral trade balances by using a time-space simultaneous gravity model with a panel smooth transition regression specification. This model can investigate both internal and external bilateral trade. The empirical results show that a larger real interest rate differential between China and a member country of the ASEAN-5 would switch the negative spatial effect to a positive one, causing a higher average spatial effect from the bilateral trade balance. The time-varying marginal effects of the determinants of bilateral trades are verified. However, the geographical distance of each country pair remains the most important deterrent to China-ASEAN-5 bilateral trade.
引用
收藏
页码：103 / 120
页数：18
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