Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/306658 
Authors: 
Year of Publication: 
2022
Citation: 
[Journal:] Open Economies Review [ISSN:] 1573-708X [Volume:] 34 [Issue:] 3 [Publisher:] Springer US [Place:] New York, NY [Year:] 2022 [Pages:] 617-656
Publisher: 
Springer US, New York, NY
Abstract: 
The EU-South Korea Free Trade Agreement, which entered into force in 2015, is an example of so-called "second-generation" regional trade agreements. Using the gravity equation and drawing on a novel dataset on trade in manufacturing goods (Monteiro in World Trade Organization, Geneva,  42 ), I explore the heterogeneity in the trade effects of this agreement across time (anticipation and phasing-in/delayed adjustment), country pairs, and across trading directions within pairs (exports versus imports). First, the positive trade effect after the announcement vanished one year prior to entry into force. Second, on average exports of EU countries to South Korea rise, while imports of EU countries are not significantly affected, potentially reflecting differences in ex ante trade policies. Third, additional imports caused by the agreement are larger for those EU countries where South Korea accounted for a large share of extra-EU imports already before the agreement.
Subjects: 
International Trade
Structural Gravity
EU-South Korea Free Trade Agreement
JEL: 
F13
F14
F15
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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