This paper analyzes 2015-TPA voting patterns in the Congress in the context of the trade negotiating objectives. By setting the trade negotiating objectives, the Congress lays out important trade agenda that the Administration is expected to address when it is negotiating trade deals with foreign countries. Therefore setting the objectives is subject of heated debates in the Congress and an important ...

The Belt and Road Initiative (BRI) is the most important economic program initiated by a developing country, with the intent of enhancing trade and economic development across continents. While expectations persist that the initiative can contribute to Africa’s trade and developmental process, there exist limited evidences to support and uphold the notion. This study attempts to evaluate the degree ...

In the last decade, international trade has been marked by an unprecedented collapse, quick recovery, slowdown, another drop, and recovery. Using both aggregate and disaggregated trade statistics of South Korea. This paper shows that while the last drop of trade after 2015 has cyclical aspects, there is evidence that the continued slowdown from 2012 is structural. Also, firm sizes, destination ...

Previous studies that have identified the impacts of institutions or cultural traits on comparative advantage focused on goods trade, but not services trade. In contrast to the rapid increase in trade in services, empirical examination on sources of comparative advantage in services trade remains limited. This paper attempts to fill this gap by investigating empirically the impacts of institution ...

At the current stage of globalization, Central Asia (CA) is becoming a focal point for the political and economic interests of global forces because of its rich natural resources and critical strategic position. From this point of view, the CA countries need to form a joint development strategy for solving regional problems and a strong mechanism for countering the main political and economic conflicts ...

This paper examines the role of global production linkages on exchange rate elasticities by using Korean firm-level data. At firm-level, foreign-owned firms or firms with foreign subsidiaries participated in the Global Value Chains (GVC) play an important role in weakening the effect of exchange rate movements on firm exports. We find that the exchange rate elasticities of firm exports are significant ...

Unlike a number of other advanced economies, South Korea has experienced a pronounced increase in both imports from and exports to China since the rise of China, which began in the early 1990s. This study analyzes how Korea’s exposure to China’s rise and, in particular, to changes in its imports from and exports to China have affected Korean manufacturing employment. Our 2SLS estimates show that, ...

We attempt to test the impacts of the quality of institution, of both exporters and importers, on trade costs using CIF/FOB ratio and the relative measure of trade costs proposed by Novy (2013). The outcome shows that the institutional quality of exporter and importer is negatively associated with trade costs and trade costs increase as disparity between two countries’ institutional quality increases. ...