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Regional Liberalisation of Trade in Services

Authors
Park, InnwonPark, Soonchan
Issue Date
5월-2011
Publisher
WILEY
Keywords
trade in services; regional trade agreements; gravity; GATS
Citation
WORLD ECONOMY, v.34, no.5, pp.725 - 740
Indexed
SSCI
SCOPUS
Journal Title
WORLD ECONOMY
Volume
34
Number
5
Start Page
725
End Page
740
URI
https://scholar.korea.ac.kr/handle/2021.sw.korea/112576
DOI
10.1111/j.1467-9701.2011.01350.x
ISSN
0378-5920
Abstract
This paper investigates quantitatively the trade-enhancing effect of regional trade agreements (RTAs) under the General Agreement on Trade in Services Article V (services RTAs) by applying a gravity regression analysis to four major services sectors - financial, business, communication and transportation services - while controlling for both country-specific and time-varying importer and exporter fixed effects. The regression analysis covers bilateral imports in services consisting of 20,986 country-pairs in total over six years (2000-05). Our results indicate that sector-specific trade-creating effects of services RTAs are significantly positive without incurring trade-diverting effects, excluding transportation services. Moreover, we find that there is a significant cumulative effect of services RTAs, excluding communication services and a complementary relationship between goods and services imports. In addition, the trade-creating effect of services RTAs is stronger between developed members compared with between developed and developing countries.
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국제대학 (국제학부)
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