Innwon Park - Academia.edu (original) (raw)

Papers by Innwon Park

The World Economy, Sep 11, 2022

World economy brief, Apr 20, 2020

Social Science Research Network, 2016

The RTAs with trade facilitation provisions have been expected to generate a larger net trade-cre... more The RTAs with trade facilitation provisions have been expected to generate a larger net trade-creating effect and complement the discriminatory feature of RTAs but have yet to be empirically proven. Recognizing the limitations of existing studies, we conducted a quantitative analysis on the effects of RTAs with and without trade facilitation provisions on both intra-and extra-bloc trade by using a modified gravity equation. We applied the Poisson Pseudo-Maximum Likelihood (PPML) estimation with time varying exporter and importer fixed effect method to panel data consisting of 45,770 country pairs covering 170 countries for 2000-2010. We found that the trade facilitation provisions in existing RTAs are non-discriminatory by generating more intra-and extra-bloc trade in general. In particular, we found that the trade effects of RTAs in the APEC region are much stronger than the general case covering all RTAs in the world. In addition, as we control the trade effect of a country's trade facilitation, which is ranked by the World Bank's logistic performance index, RTAs consisting of trade facilitation provisions are discriminatory for trade in final goods and non-discriminatory for trade in intermediate goods. Overall, we endeavor to "explain," instead of "hypothesizing," why most of the recent RTAs contain trade facilitation provisions, especially in light of the deepening regional interdependence through trade in parts and components under global value chains and support the necessity of multilateralizing RTAs by implementing nondiscriminatory trade facilitation provisions.

Social Science Research Network, 2013

The World Economy, Dec 1, 2008

This paper investigates why regional trade arrangements (RTAs) are proliferating extensively and ... more This paper investigates why regional trade arrangements (RTAs) are proliferating extensively and how the effects of multiple RTAs, by interacting with each other, evolve over time. Our empirical analysis, based on an extended gravity model utilizing a large panel data set of 175 countries from 1948 to 1999, shows that RTAs on average increase global trade by raising intra-bloc trade without damaging extra-bloc trade. The net trade effects, however, heavily depend on the types of RTA strategic evolution over time, which we group as "expansionary" RTAs, "duplicate" RTAs or "overlapping" RTAs. We find that countries excluded from an RTA can benefit more from duplicating a separate RTA than from joining an existing RTA. This result explains why the number of bilateral trade blocs, rather than the membership size of existing RTAs, is currently exploding. We also find that the net trade creation effects of RTAs are substantially lower for countries participating in overlapping RTAs. This result suggests that it is less likely that the currently proliferating RTAs will completely merge and lead the world economy to global free trade. Our empirical results are robust to controlling for the characteristics of countries that may influence the impact of RTAs. ___________________ +The authors are grateful to Prema-Chandra Athukorala, George Fane and Warwick McKibbin for helpful comments on earlier drafts, and to Hyung Joo Kim for research assistance.

RePEc: Research Papers in Economics, Apr 20, 2020

RePEc: Research Papers in Economics, Sep 1, 2010

This paper evaluates whether the proposed FTAAP is a desirable policy option for APEC member econ... more This paper evaluates whether the proposed FTAAP is a desirable policy option for APEC member economies and the world economy. More specifically, this paper quantitatively investigates whether the FTAAP satisfies conditions for a trade bloc to generate positive and sufficient net trade creation effect. In addition, this paper estimates the likely impact of the FTAAP by using a CGE model analysis. Based on statistical data analysis, this paper strongly argues that the FTAAP can be a desirable regional trade bloc able to generate positive gains from freer trade. From the ex-ante scenario analysis using both static and capital accumulation CGE Models, this paper concludes that the FTAAP has great potential for improving welfare of participating APEC economies and will boost economic growth in the region. In particular, the FTAAP would be even better if it can be linked with liberalization of trade in services and enhanced trade facilitation.

KUKJE KYUNGJE YONGU, Aug 1, 2001

This article examines how the nature of work has changed since the 1997 financial crisis in South... more This article examines how the nature of work has changed since the 1997 financial crisis in South Korea. We demonstrate that a majority of workers now have become irregular workers, how peoples’ perception of work has changed, and how the changing trends of work have impacted the quality of life.

Asian Economic Papers, 2022

We investigate the effects of free trade agreements (FTAs), focusing on the impact of cumulative ... more We investigate the effects of free trade agreements (FTAs), focusing on the impact of cumulative rules of origin (ROO) on trade costs. Using a gravity regression model, we estimate the effect of various cumulative ROO systems on the measured trade costs. We apply these estimates to static and capital accumulation computable general equilibrium models to compare the effects of mega-regional FTAs in the Asia-Pacific region—namely, the Regional Comprehensive Economic Partnership (RCEP), Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), and Free Trade Areas in the Asia-Pacific (FTAAP). We find that mega-regional FTAs may not be a viable alternative to a multilateral trading system or bilateral FTAs unless less restrictive cumulative ROO are adopted. Successful FTAs depend on an appropriate cumulative ROO provision system rather than their membership expansion.

The Northeast Asian region had been characterized by the dearth of regionalism until late 1990s. ... more The Northeast Asian region had been characterized by the dearth of regionalism until late 1990s. In particular, the three major Northeast Asian countries ― China, Japan, and Korea ― had generally preferred multilateral trade liberalization approaches under the GATT and WTO regulations. In recent years, however, the

I.Introduction The Northeast Asian region had been characterized by the dearth of regionalism unt... more I.Introduction The Northeast Asian region had been characterized by the dearth of regionalism until late 1990s. In particular, the three major Northeast Asian countries ― China, Japan, and Korea ― had generally preferred multilateral trade liberalization approaches under the GATT and WTO regulations. In recent years, however, the region’s policy stance has shifted from favoring multilateralism to regionalism. A turning point was the outbreak of the East Asian financial crisis occurred in 1997. The deepening interdependence among the Northeast Asian economies through regional trade and financial linkages can be another cause of the policy change. In addition, slow progress of multilateral negotiations under WTO and APEC has accelerated their shifting preference to regionalism. Recent developments in individual economies such as China’s miraculous export-driven growth performance and entry into WTO, Japan’s desire to regain its leadership role in the region, and Korea’s regime change ...

The views expressed in this publication are those of the author(s) and do not necessarily reflect... more The views expressed in this publication are those of the author(s) and do not necessarily reflect those of the Institute. No part of this article may be used reproduced in any manner whatsoever without written permission except in the case of brief quotations embodied in articles and reviews. For information, please write to the Centre.

ASEAN-Korea Relations, 2007

The ADB Economics Working Paper Series is a forum for stimulating discussion and eliciting feedba... more The ADB Economics Working Paper Series is a forum for stimulating discussion and eliciting feedback on ongoing and recently completed research and policy studies undertaken by the Asian Development Bank (ADB) staff, consultants, or resource persons. The series deals with key economic and development problems, particularly those facing the Asia and Pacific region; as well as conceptual, analytical, or methodological issues relating to project/program economic analysis, and statistical data and measurement. The series aims to enhance the knowledge on Asia's development and policy challenges; strengthen analytical rigor and quality of ADB's country partnership strategies, and its subregional and country operations; and improve the quality and availability of statistical data and development indicators for monitoring development effectiveness. The ADB Economics Working Paper Series is a quick-disseminating, informal publication whose titles could subsequently be revised for publication as articles in professional journals or chapters in books. The series is maintained by the Economics and Research Department.