An Economic Analysis of Intra-Industry Trade Between Thailand and Other APEC Countries, 1990-1999
Keywords:
Thailand, Grubel-Lloyd Index, APEC, liberalisation, Intra-industry tradeAbstract
Recent economic liberalisation, macroeconomic policy, and global trade reforms have significantly reshaped trade between developed and developing countries. This article examined the impact of recent policy reforms on intra-industry trade (IIT) between Thailand and Asia Pacific Economic Co-operation (APEC) countries focusing on the pattern of IIT across countries and within industries. IIT was measured based on the Grubel and Lloyd Index for 1980-1999 using 3-digit Standard International Trade Classifications (SITC) data. The results suggested that Malaysia and Singapore were the major trading partners of Thailand, followed by the Philippines, Taiwan and Indonesia. However, adjusting for trade imbalance, Hong-Kong, Korea and Mexico became the major trading partners. The results also showed that within manufactures, certain resource-based labour intensive manufactures and low "technology" manufactures occupy large shares of the total trade.
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