Trade Asymmetries in the Mediterranean Basin

Journal of Economic Asymmetries, 2017

Posted: 23 Sep 2015 Last revised: 23 Dec 2019

See all articles by Konstantinos Konstantaras

Konstantinos Konstantaras

Heriot-Watt University - School of Management and Languages

Dionisis Philippas

ESSCA School of Management

Costas Siriopoulos

Zayed University, College of Business; University of Patras - Business Administration

Date Written: September 15, 2015

Abstract

The paper examines the evolution of trade openness implications in the Mediterranean basin countries with respect to the European Union’s trade initiatives, using a series of unconditional and conditional convergence tests. Accounting the endogeneity and instrumenting the spatial geography, evidence show that trade policy convergence fluctuates dynamically depending on the country, business cycles and specific economic and political events. The results reveal that fewer than a handful of the Middle East and North African countries exhibit significant trade policy convergence following the European Union’s 1995 free trade convention. In contrast, the bigger picture of their European Mediterranean counterparts portrays an impetus for convergence.

Keywords: regionalism; convergence; openness; free trade agreement; spatial

JEL Classification: C21, C33, F14

Suggested Citation

Konstantaras, Konstantinos and Philippas, Dionisis and Siriopoulos, Costas, Trade Asymmetries in the Mediterranean Basin (September 15, 2015). Journal of Economic Asymmetries, 2017. Available at SSRN: https://ssrn.com/abstract=2663721 or http://dx.doi.org/10.2139/ssrn.2663721

Konstantinos Konstantaras

Heriot-Watt University - School of Management and Languages ( email )

Edinburgh EH14 4AS, Scotland
United Kingdom

Dionisis Philippas (Contact Author)

ESSCA School of Management ( email )

55 Quai Alphonse Le Gallo
Boulogne, 92513
France

Costas Siriopoulos

Zayed University, College of Business ( email )

P.O. Box 144534
Abu Dhabi
United Arab Emirates

University of Patras - Business Administration ( email )

Patras
Greece

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