The EU-South Korea FTA: Which Sector Benefits the Most?
- 주제(키워드) EU-South Korea FTA , Fixed Effect , Panel Data , Poisson , Sectoral Analyses
- 주제(기타) Economics
- 등재 SSCI, SCOPUS, KCI등재
- 발행기관 KOREA TRADE RESEARCH ASSOC
- 발행년도 2019
- 총서유형 Journal
- URI http://www.dcollection.net/handler/ewha/000000161558
- 본문언어 영어
- Published As http://dx.doi.org/10.35611/jkt.2019.23.2.76
초록/요약
Purpose - This study empirically analyzes the effects of the European Union-South Korea Free Trade Agreement on Korean exports in major sectors. Design/Methodology - This study is based on the augmented gravity model with a panel data set covering 51 countries between the years 2000 and 2015. Findings - Main findings of the present study is that the agreement has affected the chemical sector the most. Fixed effects estimation predicted a positive trade effect of 38.3%, while Poisson maximum likelihood estimation predicted an impact of 4.75% in the chemical export sector. Regression results for the other sectors only show insignificant effects. Originality/value - The findings imply that the effects of the EU-South Korea free trade agreement on the Korean exports are quite specific compared to the European ones, meaning that the Korean government should focus on sector-specific programs to maximize the welfare benefits of the free trade agreement.
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