Should Korea Join the TPP?:An Empirical Analysis of the Trade Effect
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In recent years, the US dominated Trans-Pacific Partnership (TPP) has been continuously expanded to be one of the influencing economic integration and trade blocs in Asia-Pacific. South Korea has also been invited to join the TPP but she is still under consideration. On the other hand, China shows an aggressive support to ASEAN+3 and is already turning its direction on negotiating the ASEAN+3 and/or ASEAN+6. Any step made by South Korea will cast a great impact on the future of East Asian economic integration and trade bloc, and also have the significant influence on the South Korean economy. Therefore, it is very interesting to study and measure the trade creation effects from joining such different trade blocs for South Korea. This is an empirical study and applies the gravity model by using trade data of South Korea with twenty-two trade partners from 1990 to 2011 to identify the benefits from different trade blocs, and to review which direction should be the best for South Korea to join.
Abstract
In recent years, the US dominated Trans-Pacific Partnership (TPP) has been continuously expanded to be one of the influencing economic integration and trade blocs in Asia-Pacific. South Korea has also been invited to join the TPP but she is still under consideration. On the other hand, China shows an aggressive support to ASEAN+3 and is already turning its direction on negotiating the ASEAN+3 and/or ASEAN+6. Any step made by South Korea will cast a great impact on the future of East Asian economic integration and trade bloc, and also have the significant influence on the South Korean economy. Therefore, it is very interesting to study and measure the trade creation effects from joining such different trade blocs for South Korea. This is an empirical study and applies the gravity model by using trade data of South Korea with twenty-two trade partners from 1990 to 2011 to identify the benefits from different trade blocs, and to review which direction should be the best for South Korea to join.
참고문헌 (15)
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