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Trade in cultural goods : A case of the Korean Wave in Asia

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  • Trade in cultural goods
  • Park, Young Seaon
  • Korea Institute for International Economic Policy


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Title Trade in cultural goods
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Sub Title

A case of the Korean Wave in Asia

Material Type Articles
Author(English)

Park, Young Seaon

Publisher

[Sejong]:Korea Institute for International Economic Policy

Date 2014-03
Journal Title; Vol./Issue Journal of East Asian Economic Integration:vol. 18(no. 1)
Pages 26
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < General
Holding KIEP

Abstract

This paper studies the effects of economic development and cultural proximity as common determinants of trade in cultural goods in a dynamic preference selection model. For the empirical analysis, this paper utilizes the gravity framework with importer fixed effects and Poisson pseudo-maximum likelihood estimators. This paper applies the model to Korean export of broadcasting contents to Asian countries. The relative economic development of the export country and the market size of the import country are important determinants of cultural trade, the results of which are generally consistent with traditional goods trade. However, the distance variable does not show much significance, reflecting the unique characteristics of trade in cultural goods. (The rest omitted)