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Apec Has Indeed Created Intra-Regional Trade: A Systematic Empirical Analysis

Author

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  • JUNG HUR

    (Department of Economics, Sogang University, 1 Shinsu-Dong, Mapo-Gu, Seoul 121-742, Korea)

  • HYUN-HOON LEE

    (Department of International Trade and Business, Kangwon National University, Hyoja 2-Dong, Chuncheon, Gangwon-do 200-701, Korea)

Abstract

The Asia–Pacific Economic Cooperation (APEC) forum, whose approach is voluntary and non-binding in open regionalism, has been criticized for its alleged failure to develop a rapid liberalization process and to contribute to a greater level of intra-regional trade in the APEC region. Nonetheless, we find that APEC has been contributing to intra-regional trade creation, particularly in trade in manufactured goods as compared to trade in non-manufactured goods. This finding is robust to the various fixed-effect models and the first-differencing models which are applied to the gravity equation.

Suggested Citation

  • Jung Hur & Hyun-Hoon Lee, 2017. "Apec Has Indeed Created Intra-Regional Trade: A Systematic Empirical Analysis," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 62(05), pages 1077-1095, December.
    • Handle: RePEc:wsi:serxxx:v:62:y:2017:i:05:n:s0217590815501039
    DOI: 10.1142/S0217590815501039
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    2. Naoto Jinji & Xingyuan Zhang & Shoji Haruna, 2013. "Do Regional Trade Agreements Enhance International Technology Spillovers?," Discussion papers e-12-010, Graduate School of Economics Project Center, Kyoto University.

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