| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8566 |
| DP8566 Who Benefits from Regional Trade Agreements? The View from the Stock Market | |
| Andrew Rose; Christoph Moser | |
| 发表日期 | 2011-09-01 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | The effects of Regional Trade Agreements (RTAs) are disputed. In this paper, we assess these effects using capital market data and an event-study approach, using a daily data set covering a thousand announcements spanning over eighty economies and a hundred RTAs over twenty recent years. We measure the effects of news concerning RTAs on the returns of national stock markets, adjusted for international stock market movements. We then link these excess returns to features of the RTA members and the agreements themselves. We find evidence of the natural trading partner hypothesis; stock markets rise more when RTAs are signed between countries that already engage in high volumes of trade. Stock markets also rise more when poorer countries sign RTAs. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Assets Data Empirical Event study Income Low Natural Panel Producers |
| URL | https://cepr.org/publications/dp8566 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537403 |
| 推荐引用方式 GB/T 7714 | Andrew Rose,Christoph Moser. DP8566 Who Benefits from Regional Trade Agreements? The View from the Stock Market. 2011. |
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