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Evaluation of a decade of Korea's FTA policy

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  • Evaluation of a decade of Korea's FTA policy
  • Kim, Young Gui
  • Korea Institute for International Economic Policy


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Title Evaluation of a decade of Korea's FTA policy
Similar Titles
Material Type Reports
Author(English)

Kim, Young Gui

Publisher

[Sejong, South Korea]:Korea Institute for International Economic Policy

Date 2015-12
Series Title; No World economy update / 15-22
Pages 4
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Economy < Economic Administration
Holding SSRN

Abstract

We analyze Korea’s FTA policy based on the outcomes of recent bilateral FTAs, in terms of achieving policy objectives. While many previous studies mainly focused on trade impacts under bilateral FTAs, this study analyzes the overall economic impact of FTAs in terms of growth and welfare, as changes in bilateral trade may affect global trade and the general economy in a variety of ways. In order to analyze the overall effect of FTAs, we adopt the Computable General Equilibrium (CGE) approach. With a CGE model, the macro economic impacts of FTAs can be calculated taking into account the complicated interactions among economic agents and industries. The growth effect in the EU shows the high-est results, followed by 0.9% growth and an additional 0.43% and 0.11%, in the ASEAN and Chile respectively. (The rest omitted)