.These accords span the real and financial sectors; rather than following the more typical pattern of "trade first,money later …", recent policy initiatives involve the simultaneous implementation of trade and monetary/financial accords. Given this … sequence, is there a case for monetary union in East Asia? Is there a case for expanded free-trade areas (FTAs) in the region …

This paper investigates the effect of trade integration on military conflict. Our empirical analysis,based on a large … panel data set of 290,040 country-pair observations from 1950 to 2000, confirms that an increase in bilateral trade … interdependence and global trade openness significantly promotes peace. It also suggests that the effect of trade openness varies …