A Panel Data Analysis of the Impacts of the ATC Liberalization: A Case Study of Korea's Exports of Textiles and Clothing
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We have analyzed the competitiveness of the Korean textile and clothing industry and estimated the effects of the ATC liberalization on Korea's exports of textile and clothing products. Our analysis of the trade specialization index (TSI) and the revealed comparative advantage (RCA)index shows that Korea has comparative advantage in textile products, but has comparative disadvantage in clothing products, losing its competitiveness in recent years. We have also investigated the effects of the phase-out of textile and clothing quotas on Korea's textile and clothing exports using a panel of 22annual observations (1989-2010) for the 14 sub-sectors of the industry. We have found that the Korean textile and clothing sectors are adversely affected by the ATC liberalization. It is further observed that products with strong RCA indices are relatively less vulnerable to changes in world trade environments such as ATC, world demand for textiles, and relative prices. Our finding suggests that Korea could regain its competitiveness in textile and clothing exports by concentrating in high value-added products with high RCA indices.
Abstract
We have analyzed the competitiveness of the Korean textile and clothing industry and estimated the effects of the ATC liberalization on Korea's exports of textile and clothing products. Our analysis of the trade specialization index (TSI) and the revealed comparative advantage (RCA)index shows that Korea has comparative advantage in textile products, but has comparative disadvantage in clothing products, losing its competitiveness in recent years. We have also investigated the effects of the phase-out of textile and clothing quotas on Korea's textile and clothing exports using a panel of 22annual observations (1989-2010) for the 14 sub-sectors of the industry. We have found that the Korean textile and clothing sectors are adversely affected by the ATC liberalization. It is further observed that products with strong RCA indices are relatively less vulnerable to changes in world trade environments such as ATC, world demand for textiles, and relative prices. Our finding suggests that Korea could regain its competitiveness in textile and clothing exports by concentrating in high value-added products with high RCA indices.
참고문헌 (24)
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