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A Provincial View of Economic Integration

Author

Listed:
  • Mr. Michael W Klein
  • Mr. Tamim Bayoumi
Abstract
This paper develops a method of testing levels of economic integration based upon consumption smoothing, and tests it using data on trade balances across Canadian provinces. The results indicate the provinces are highly integrated within Canada, but integration between Canada and the rest of the world is partial. Provincial trade balances respond only about half as much to events in the rest of the world as they do to events within Canada. In short, national borders appear to matter for intertemporal trade.

Suggested Citation

  • Mr. Michael W Klein & Mr. Tamim Bayoumi, 1997. "A Provincial View of Economic Integration," IMF Working Papers 1997/041, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1997/041
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=2147
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    Keywords

    WP; utility function; Consumption smoothing; economic integration; income coefficient; trade balance equation; OECD income; coefficient restriction; trade balance response; OECD aggregate; Income; Trade balance; Consumption; Government consumption;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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