Does Trade Integration Contribute to Peace?

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“…(, equation 9). See the working paper version of this paper (Lee and Pyun, ) for the detailed derivation.…”

mentioning

confidence: 99%

“… Detailed discussions of robustness checks, including comparison with Martin et al. (), are available from Lee and Pyun (). …”

mentioning

confidence: 99%

Does Trade Integration Contribute to Peace?

Lee

Pyun

2016

Review Development Economics

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“…Moreover, economic interdependence greatly reduces the chances of conflicts among states [Oneal, et al (2003). Lee and Pyun (2013) also studied that bi-lateral trade and economic openness among states deters military conflicts. Basing on such findings of different researchers, this study builds its framework which aims to relate various indicators of peace with trade related measures in terms of its volume and flow overall, but in a different direction i.e.…”

Section: The Virtuous Cycle: a Link Between Peacementioning

confidence: 99%

New Direction to Evaluate the Economic Impact of Peace for Bilateral Trade among World Economies

Sarwar¹,

Siddiqi²,

Nasir³

et al. 2022

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Earlier researchers have been working to relate globalisation, trade or free trade as an instrument for bringing peace and reducing conflict in the world. But this study attempts to open up a new debate that how social unrest in terms of lack of pace in nations leads to failure of economic policing and outcomes. In past, few researchers have tried to show peaceful environment as a generator for economic progress by building theoretical models, but limited empirical analysis has been conducted so far. This brings a novelty in the present study that for the first time a large set of data covering 155 nations has been used to explore the relationship between these two desired variables i.e. trade related variables and peace, in new direction and employing new indicators defining extent of peace in nations. Panel co-integration technique has been applied along with Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) models to know the parametric and non-parametric point estimates of variables. Data has been extracted from Economic Institute of Peace and World Bank for the time period 2008-2014. Results showed that lesser number of attacks are associated with more volume of trade among nations and better relations with neighbouring countries are linked positively with trade performance of nations. Nations involved more into hostility acts like conflicts are unable to maximise the benefits from bilateral trade. JEL Classification: F10, D74, L33, C23. Keywords: Globalisation, Trade, Conflict, Terrorism, Panel Model

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“…5 ln(GDPPC it ) and ln(GDPPC jt ) are logs of GDP per capita of countries i and j, respectively. Martin et al (2008) and Lee and Pyun (2016) show that bilateral and multilateral trade affect interstate conflict significantly and vice versa. Rose, 2004).…”

Section: Iii1 Estimation Of Bilateral Tradementioning

confidence: 99%

North Korea’s Economic Integration and Growth Potential

Lee¹,

Pyun

2018

Asian Economic Journal

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The growth projections based on cross-country evidence show that North Korea could achieve higher economic growth in the long run if it embarks on substantial policy reforms toward a market-oriented and open economy. Using an empirical gravity model of trade and direct investment, we forecast that, when the two Koreas pursue economic integration and cooperation without military conflicts, North Korea's trade with South Korea can increase by up to 36 percent of North Korea's GDP and its foreign direct investment (FDI) flows from South Korea by up to 6 percent of GDP. Overall, by promoting trade and FDI integration with South Korea, North Korea can boost its GDP growth by approximately 3 percentage points per year. Combined with a market-oriented reform, the North Korean economy could grow by approximately 4.7 percent per year over the coming decades. Conversely, if more rigid sanctions imposed on North Korea become effective, its trade and investment will decrease and its GDP growth rate is expected to fall by approximately 2 percentage points per year.

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Does Trade Integration Contribute to Peace?

Cited by 13 publications

References 73 publications

Does Trade Integration Contribute to Peace?

Does Trade Integration Contribute to Peace?

New Direction to Evaluate the Economic Impact of Peace for Bilateral Trade among World Economies

North Korea’s Economic Integration and Growth Potential

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