Trade in Cultural Goods: A Case of the Korean Wave in Asia

Young Seaon Park ()
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Young Seaon Park: Korea Trade-Investment Promotion Agency

East Asian Economic Review, 2014, vol. 18, issue 1, 83-107

Abstract: This paper studies the effects of economic development and cultural proximity as common determinants of trade in cultural goods in a dynamic preference selection model. For the empirical analysis, this paper utilizes the gravity framework with importer fixed effects and Poisson pseudo-maximum likelihood estimators. This paper applies the model to Korean export of broadcasting contents to Asian countries. The relative economic development of the export country and the market size of the import country are important determinants of cultural trade, the results of which are generally consistent with traditional goods trade. However, the distance variable does not show much significance, reflecting the unique characteristics of trade in cultural goods.

Keywords: Korean Wave; Cultural Goods; Cultural Proximity; Broadcasting Contents; Gravity Equation (search for similar items in EconPapers)
JEL-codes: D10 F10 F14 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:eaerev:0048

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