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A gravity model analysis of Korea's trade patterns and the effects of a regional trading arrangement

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  • A gravity model analysis of Korea's trade patterns and the effects of a regional trading arrangement
  • Sohn, Chan-Hyun
  • Asian Growth Research Institute


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Title A gravity model analysis of Korea's trade patterns and the effects of a regional trading arrangement
Similar Titles
Material Type Articles
Author(English)

Sohn, Chan-Hyun

Publisher

[Fukuoka]:Asian Growth Research Institute

Date 2001
Journal Title; Vol./Issue Working Paper Series:vol. 2001-09
Pages 37
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Trade
Holding Asian Growth Research Institute

Abstract

The purpose of this paper is to empirically analyze Korea's trade patterns based on the gravity model and to suggest possible ways to expand trade by identifying important factors determining Korea's bilateral trade flows. The gravity model assumes that trade flows between two countries are positively related to their economic size and negatively related to the distance between them. By taking into account geographical factors, such as distance, population and adjacency, which had long been disregarded by international trade theorists, the gravity model is now recognized as one of the best models for explaining international trade volumes. (The rest omitted)