In the presence of preferential trade agreements (PTAs), there are two distinct levels of economic geography-global economic geography (GEG) between a PTA bloc and the world and local economic geography (LEG) between a PTA member and its PTA bloc. Using OECD data, we empirically examine whether...

There are four major modes through which firms undertake foreign direct investment (FDI) – merger and acquisition (M&A), joint venture (JV), new plant (NP) and others (O). The four modes of FDI are distinct from each other, and each has its own unique advantages and disadvantages. While a...

We examine the welfare implications of the two major types of regional trade agreements (RTAs)—free trade agreements (FTAs) and customs unions (CUs)—within the WTO system in the presence of FDI. To do so, we analyze multilateral tariff cooperation in the context of two types of WTO...

Summary We use panel data consisting of 96 countries and covering the period 1960-2000 to investigate the effects of free trade agreements (FTAs) and hub-and-spoke systems of FTA on exports. Our empirical results imply an annual growth rate of 5.57% in exports and hence a doubling of exports...

This article presents an introduction to and analysis of an emerging area of research, namely decision neuroscience, whose goal is to integrate research in neuroscience and behavioral decision making. The article includes an exposition of (1) how the exponential accumulation of knowledge in...

This paper examines the services global value chain activities in Korea using the TiVA (Trade in Value-Added) database and firm-level data. The results indicate that Korea’s services sector has been expanding gradually, with its value-added share increasing from nearly 50 per cent during the...