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The Impact of Bilateral Free Trade Agreements on International Trade Volume of Bulk Shipment at the Port of Busan in Korea : Focusing on Korea's FTA with Chile, Peru, Singapore, India, and United States  

Lee, Kyong Han (인하대학교 물류전문대학원, 한국해양수산개발원 항만연구본부)
Park, Ju Dong (한국해양수산개발원 항만연구본부)
Publication Information
Journal of Korea Port Economic Association / v.32, no.3, 2016 , pp. 83-94 More about this Journal
Abstract
The primary purpose of this study is to analyze the impact of bilateral Free Trade Agreements on international trade volume of bulk shipment at the port of Busan in Korea using the Gravity Model. Most recently, the total of 15 Korea's FTAs have been enforced since Korea-Chile FTA in 2004 and more than 50 countries became member of Korea's FTAs. Therefore, aggregated trade volume of Korea's FTA members out of the total trade volume in Korea increased from 25% in 2011 to 67% in 2015. Five Korea's bilateral FTA members are concerned as experimental group while top 10 foreign countries base on trade volume of bulk shipment are applied to the model as control group and panel data was used in this study. According to the results, bilateral FTA, GDP and population have positive impacts on trade volume of bulk shipment at the port of Busan. On the other hand, distance between Korea and its trade partner has negative impact. In examining Hausman test and LR test, the random effect model is statistically more appropriate than the fixed effect model for this study.
Keywords
Gravity Model; Bilateral Fta; Bulk Shipment;
Citations & Related Records
Times Cited By KSCI : 4  (Citation Analysis)
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