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The impact of the Canada-Korea free trade agreement as negotiated

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  • The impact of the Canada-Korea free trade agreement as negotiated
  • Ciuriak, Dan; Xiao, Jingliang
  • Korea Institute for International Economic Policy


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Title The impact of the Canada-Korea free trade agreement as negotiated
Similar Titles
Material Type Articles
Author(English)

Ciuriak, Dan; Xiao, Jingliang

Publisher

Sejong:Korea Institute for International Economic Policy

Date 2014-12
Journal Title; Vol./Issue Journal of East Asian Economic Integration:vol. 18(no. 4)
Pages 37
Subject Country Canada(Americas)
South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Government and Law < Public Administration
Holding KIEP

Abstract

This paper analyzes the impact of the Canada-Korea Free Trade Agreement on the basis of the published text and agreed schedule of commitments. We find that the Agreement reinforces existing patterns of comparative advantage between Canada (agriculture and resource-based sectors) and Korea (autos and other industries). The sensitive sectors that held up the deal for years - autos into Canada and beef into Korea - witness major trade gains, but are not unduly disrupted. In both economies, the major output gains otherwise come in non-traded services sectors, driven by income effects. We find that trade diversion effects are quite significant; this lends support for the domino theory of major free trade agreements - since the Korea-EU agreement broke the ice, the pressure has intensified on third parties to re-level playing fields by striking their own deals. (The rest omitted)