EFZG working paper series, No. 05, 2008.
Ostalo
On the Impacts of Economic Freedom on International Trade Flows: Asymmetries and Freedom Components
Robert J. Sonora
orcid.org/0000-0003-4713-7082
; School of Business Administration, Fort Lewis College
Sažetak
This paper employs a gravity equation to estimate the effects of economic freedom on U.S. consumer exports
and imports for 131 countries over the years 2000 - 2005. Using the newly updated Fraser Institute's Economic
Freedom of the World Index, we find that increased economic freedom in the rest of the world would increase
the United States' overall trade volume. We also consider whether imports and exports are affected
asymmetrically with respect to income, transaction costs, and economic freedom. We find considerable
differences in how these variables affect imports and exports of consumer goods. Our results also give some
insight into how economic freedom might affect the U.S. trade position.
Ključne riječi
gravity model; trade flows; trade balance
Hrčak ID:
137164
URI
Datum izdavanja:
24.6.2008.
Posjeta: 1.638 *