Determinants of the Trade Volume between Korea and China's 31 Provincial Governments
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Purpose: This study provides a comparative analysis of determinants of trade volume between Korea and China’s 31 provincial governments by using a panel data set for 1998-2013. Based on the analysis results, this study aims to propose a trade expansion plan for China’s 31 provincial governments and Korea, by regional classification. Composition/Logic: This paper is organized as follows. Section I clarifies the study objectives. Section II describes the trade volume between Korea and China based on six grouping provinces in China and presents the development plans of key industries. Section III presents the literature review. Section IV explains panel data settings, data collection, results, and ways to expand the volume of regional trade between the six provinces of China (three Northeastern provinces; Huanbohai provinces; Jingjinji provinces; Central provinces; Western province; and the Eeastern province) and Korea, based on the analysis results. Finally, Section V presents the conclusion. Findings: The panel data results show that the per capita GDP, degree of openness, population, and consumer price index for China’s 31 provincial governments have positive effects on the trade volume with Korea. However, Korea and China’s 31 provincial governments showed a difference variable on the trade volume between the countries. Originality/Value: The strategy to expand trade volume between Korea and China focuses on the manufacturing and agricultural sectors in Northeastern China; the service sector in Southeastern China; labor-intensive industries and trade expansion in Central provinces; finance, logistics, and education in the Southern China; and online shopping and transit trade through e-commerce cooperation in Western China.
Abstract
Purpose: This study provides a comparative analysis of determinants of trade volume between Korea and China’s 31 provincial governments by using a panel data set for 1998-2013. Based on the analysis results, this study aims to propose a trade expansion plan for China’s 31 provincial governments and Korea, by regional classification. Composition/Logic: This paper is organized as follows. Section I clarifies the study objectives. Section II describes the trade volume between Korea and China based on six grouping provinces in China and presents the development plans of key industries. Section III presents the literature review. Section IV explains panel data settings, data collection, results, and ways to expand the volume of regional trade between the six provinces of China (three Northeastern provinces; Huanbohai provinces; Jingjinji provinces; Central provinces; Western province; and the Eeastern province) and Korea, based on the analysis results. Finally, Section V presents the conclusion. Findings: The panel data results show that the per capita GDP, degree of openness, population, and consumer price index for China’s 31 provincial governments have positive effects on the trade volume with Korea. However, Korea and China’s 31 provincial governments showed a difference variable on the trade volume between the countries. Originality/Value: The strategy to expand trade volume between Korea and China focuses on the manufacturing and agricultural sectors in Northeastern China; the service sector in Southeastern China; labor-intensive industries and trade expansion in Central provinces; finance, logistics, and education in the Southern China; and online shopping and transit trade through e-commerce cooperation in Western China.
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