文章基本信息

标题：Augmented Gravity Model: An Empirical Application to Mercosur-European Union Trade Flows
其他标题：Augmented Gravity Model: An Empirical Application to Mercosur-European Union Trade Flows
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作者：Inmaculada Martinez-Zarzoso ; Felicitas Nowak-Lehmann
期刊名称：Journal of Applied Economics
印刷版ISSN：1514-0326
电子版ISSN：1667-6726
出版年度：2003
卷号：6
期号：2
页码：291-316
DOI：10.1080/15140326.2003.12040596
摘要：This paper applies the gravity trade model to assess Mercosur-European Union trade, and trade potential following the agreements reached recently between both trade blocs. The model is tested for a sample of 20 countries, the four formal members of Mercosur plus Chile and the fifteen members of the European Union. A panel data analysis is used to disentangle the time invariant country-specific effects and to capture the relationships between the relevant variables over time. We find that the fixed effect model is to be preferred to the random effects gravity model. Furthermore, a number of variables, namely, infrastructure, income differences and exchange rates added to the standard gravity equation, are found to be important determinants of bilateral trade flows.
关键词：F14 ; F15