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1、外文翻译原文TheGravityEquationinInternationalTradeMaterialSource:KELLYSCHOOLOFBUSINESSINDIANAUNIVERSITYDepartmentofBusinessEconomicsandPublicPolicyAuthor:MicheleFratianniAbstractThischapteroffersaselectivesurveyofthegravityequation(GE)ininternationaltrade.
2、ThisequationstartedintheSixtiesasapurelyempiricalpropositiontoexplainbilateraltradeflows,withoutlittleornotheoreticalunderpinnings.AttheendoftheSeventies,theGEwas“legitimized”byaseriesoftheoreticalarticlesthatdemonstratedthatthebasicGEformwasconsiste
3、ntwithvariousmodelsoftradeflows.EmpiricalapplicationsofGEexpandedtocoveravarietyofissues,suchastheimpactofregionaltradeagreements,nationalbordersandcurrencyunionsontrade,aswellastheuseoftheequationtosortouttherelativemeritofalternativetradetheories.A
4、newwaveofstudiesisnowconcentratingonthegeneralequilibriumpropertiesoftheGEandfinereconometricspoints.TherenewedinterestoftheacademicprofessioninthedevelopmentoftheGEisundoubtedlydrivenbytheequation’sempiricalsuccess.Keywords:gravityequation,tradetheo
5、ries,borders,regionaltradeagreement,currencyunions.JELClassification:E58,F15,F33,G15Draftdate:August,2007I.INTRODUCTIONInternationaleconomicsandinternationalbusinesshavecommoninterestsbutsomewhatdifferentresearchagendas.Theformeremphasizescross-borde
6、rtradeandcapitalflows,whereasthelatterlookspredominantlyatforeigndirectinvestment.Partofthisdifferenceresultsfromtheemphasisthatscholarsininternationalbusinessplaceonthestudyofthemultinationalfirmandpartisduetointellectualspecialization.Itisworthreca
7、llingthattheyearlyflowsofinternationaltradearealargemultipleoftheyearlyflowsofforeigndirectinvestment,whilethestockofforeigndirectinvestmenthasonlyrecentlyapproachedannualtradeflows(seeFigure1).Furthermore,totalrealexportshavegrownfaster,onaverage,th
8、antheworldrealGDPsincethemid-1980s(seeFigure2).Finally,itiswidelybelievedthatexportsareanengineofeconomicgrowth;seeKrueger(2006).Forallthesereasons,internationaltradeeconomistsspendagreatdealoftimeandresourcesunderstandingandexplainingtradeflows.With
