The Pattern of Bilateral Trade among Developed Countries:

• 발행기관: 한국농식품정책학회
• 저자명: Gue dae Cho Min Kyoung Kim Won W. Koo
• 간행물 정보: 『농업경영.정책연구』농업경영·정책연구 37권 2호, 228~248쪽, 전체 21쪽
• 주제분류: 농수해양 > 식품과학
• 파일형태: PDF
• 발행일자: 2010.06.30

영문 초록

Using a dynamic gravity equation, we show that the national product differentiation model explains food and agricultural trade more properly, while the product differentiation model is more appropriate to explain large-scale manufacturing trade. In this context, our result is not consistent with the one found by Head and Ries(2001) in the short-run. The intuitive explanation for this result is that inward foreign direct investment can occur through either merger or acquisition in the short-run. Second, the pattern of bilateral trade could quickly adjust to changes in relative income between countries. Furthermore, we illustrate the positive impacts of world income growth on bilateral trade, which is in sharp contrast with the conventional analysis. This reveals yet another way to test the pattern of bilateral trade.

목차

Ⅰ. Introduction

Ⅱ. Gravity Equation and its Relation to the Pattern of Bilateral Trade

Ⅲ. A Dynamic Gravity Model Derivation

Ⅳ. Data

Ⅴ. Econometric Method

Ⅵ. Estimation Results

Ⅶ. Conclusion

References

키워드

Dynamic Gravity Equation National Product Differentiation Product Differentiation World Income Growth