APEC HAS INDEED CREATED INTRA-REGIONAL TRADE: A SYSTEMATIC EMPIRICAL ANALYSIS

Jung Hur and Hyun-Hoon Lee

The Singapore Economic Review (SER), 2017, vol. 62, issue 05, 1077-1095

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.

Keywords: APEC; open regionalism; augmented gravity models (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (2)

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DOI: 10.1142/S0217590815501039

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