ISSN: 0885-3908 The International Trade Journal Volume 15 2001 EDITORIAL POLICY The International Trade Journal is a refereed journal published for the enchancement of research in international trade. Its editorial objective is to provide a forum for the scholarly exchange of research findings in, and significant conceptual or theoretical contributions to, the field. The International Trade Journal welcomes contributions not only from researchers in academia but also from practitioners of international trade with significant research findings in the field. The Journal’s scope includes, but is not limited to, the following: --International Trade Theory --International Corporate Finance --Exchange Rates and Currency Markets --International Trade Relations --International Monetary Issues --Commercial Policy --International Emerging Markets --Trade and Development --Regional Studies --National Studies --[nternational Finance Organizations --International Trade Organizations and and Markets Agreements The responsibility for views expressed, and accuracy of facts given, are those of the authors. Such opinions do not necessarily reflect the position of Texas A&M Interna- tional University or the Institute for International Trade; nor that of the Editor or the Editorial Advisory Board of the Journal. Editorial Office: Wayne A. 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The appearance of advertising in this journal does not constitute an endorse- ment or approval by the publisher, the editor, or the editorial board of the quality or value of the product advertised or of the claims made for it by its manufacturer. The paper in this publication meets the requirements of the ANSI Standard Z39.48-1984 (Permanence of Paper). THE INTERNATIONAL TRADE JOURNAL Volume 15 Tables of Contents Volume XV, Issue l On the Causality between Foreign Direct Investment a \ Comparative Study ance in the Short and the Long Run: Error Correction ‘ointe gration Does Hysteresis Occur in Trade? Some Evidence for Bilateral Export Flows at a Disa regated Level Inmacule Martine S Determinants of Intra-Industry Trade he Case of Mexico FE. M. Ekanayal Bolivia and South American Free Trade Henry Thompson and Hugo To Volume XV, Issue 2 cultural Trade Reform and Labor Adjustment in APE S:h ifting Export Speciali| zation and ' the ess of t the \ Malay, sia Manufacturing: Trends and Analysis {may Mahmood 4 Note on Trade Elasticities in Asian Countries Dipendra Sinha Rodrig uez Mendova, Miguel I Low, and Barbara Kotschwar, Trade Rules in the Making: Challenges in R nal and Multinational Negotiations Reviewed by Van \ 7 Flowers, Edward B., Thomas P. Chen, and Jonchi Shyu, Interlocking Global Business Systems: The Restructur ng of Industries, Economies and Capital Markets Reviewed by Linda Longfellow Blodgett Moran, Theodore H., Foreign Direct Investment « nd Devel ypme ¢ Reviewed by Antonio Rodriquez Bowditch, Nathaniel H.. The Last Emerging Market: From Asian Tigers t African Lions? The Ghana File Reviewed by Paul Roosens Graham Edward M., Fighting the Wrong Enemy: Antiglobal Activists and Multinational Ente rprises Reviewed by \f Raquibuz Zaman Richard E. Baldwin, Daniel Cohen, Andre Sapir, and Anthony Venables, eds.. 263 Market Integration, Regionalism and the Global Economy Reviewed by Robert Looney Annual Table of Contents Volume XV, Issue 3 Impact of the North American Free Trade Agreement on the I with Mexico Shyamalendu Sarkar and Hong Y. Park The Sectoral Approach to Trade Liberalization: Should We Try to Do Better? {llan N. Rae, Srikanta Chatterjee, and Shamim Shakur Foreign Exchange Rates and Foreign Direct Investment in the United States Catalina Amuedo-Dorantes and Susan Pozo European Integration and Internal Economic Geography: The Case of the Italian Manufacturing Industry 197 1991 Gianni De Robertis Rodrik, Dani. The New Global Economy and Developing Countries: Making Openness Work Reviewed by Don P. Clark Woo, Wing Thye, Jeffrey D. Sachs, and Klaus Schwab. Cr : Lessons for a Resilient Asia ttomo Ozawa Volume XV, Issue and International Trade: The Case of Canada Conditional Stock Return Volatility Across North American Evidence from Pre- and Post-NAFTA Ewing, James E. Payne, and Clifford Sowell Industrialized Countries and Trade Openness ] } Timothy P., Global ancial Systen ¥ Al} eyandr) a Caibeesl l ierre-Richard, Marcus Miller, David Vines, and Axel Weber, Financial Crisis: Causes, Contagion, and Consequences i by Gilmar Masiero , Geoff Mason, and Mary O’Mahony. Productivity. Innovat PD erformance