The WTO trade effect

• 成果类型: Article
• 署名作者: Chang, Pao-Li; Lee, Myoung-Jae
• 署名单位: Singapore Management University; Korea University; Australian National University
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2011.05.011
• 发表日期: 2011
• 页码: 53-71
• 关键词: Trade flow; treatment effect; matching; Permutation Test; Signed-rank test; sensitivity analysis

摘要

This paper re-examines the GATT/WTO membership effect on bilateral trade flows, using nonparametric methods including pair-matching, permutation tests, and a Rosenbaum (2002) sensitivity analysis. Together, these methods provide an estimation framework that is robust to misspecification bias, allows general forms of heterogeneous membership effects, and addresses potential hidden selection bias. This is in contrast to most conventional parametric studies on this issue. Our results suggest large GATT/WTO trade-promoting effects that are robust to various restricted matching criteria, alternative GATT/WTO indicators, non-random incidence of positive trade flows, inclusion of multilateral resistance terms, and different matching methodologies. (C) 2011 Elsevier B.V. All rights reserved.