Regional trade agreements, globalization, and global maize exports

András Bence Szerb, Arnold Csonka and Imre Fertő
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András Bence Szerb: Doctoral School for Management and Organizational Science, Hungarian University of Agriculture and Life Sciences, Kaposvár, Hungary
Arnold Csonka: Department of Agricultural Data Processing and Data Analysis, Institute of Agricultural and Food Economics, Hungarian University of Agriculture and Life Sciences, Kaposvár, Hungary

Agricultural Economics, 2022, vol. 68, issue 10, 371-379

Abstract: Globalisation is also having a profound impact on international agricultural trade. This study examines the impact of regional trade agreements (RTAs) and globalization on international maize trade using a gravity model for the period 1996-2020. The results show that, despite globalization, distance has a larger negative impact on bilateral maize trade than on the manufacturing sector. It appears that distance remains an important factor in explaining trade flows in commodity markets, including maize. Our findings on the role of RTAs are in line with the results of previous studies: RTAs are generally preceded by a strengthening of bilateral trade relations. There is mutually positive feedback between the level of bilateral trade and RTA membership. However, the establishment of a common RTA membership and its trade-stimulating effects are not immediately visible.

Keywords: bilateral relationships; distance puzzle; econometrics; gravity model; international trade (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:caa:jnlage:v:68:y:2022:i:10:id:202-2022-agricecon

DOI: 10.17221/202/2022-AGRICECON

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