The ASEAN Economic Community (AEC) Blueprint states the plan of ASEAN countries to unify into a single market and production base. A priority focus for integration is enhancement of trade among ASEAN member countries and long-term competitiveness of food and agriculture products produced within...

This article provides empirical evidence from the ‘first wave of globalization’ in the 19th century for the question as to how commodity markets integrated domestically and internationally. I apply a dynamic factor model borrowed from business cycle analysis that for the first time allows me...

The Act of Union (1707) unified England and Scotland politically and economically, formally establishing the United Kingdom of Great Britain, and a customs union throughout the island of Britain. In this paper, we examine the impact of union on British market integration using wheat prices from...

Based on a many-industry Chamberlinian-Ricardian trade model with iceberg trade costs, this note examines the impact of two modes of economic integration: a reduction in trade costs, and technical standardization due to information spillover. It is shown that these two modes of economic...