Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/316586 
Year of Publication: 
2021
Citation: 
[Journal:] East Asian Economic Review (EAER) [ISSN:] 2508-1667 [Volume:] 25 [Issue:] 1 [Year:] 2021 [Pages:] 33-71
Publisher: 
Korea Institute for International Economic Policy (KIEP), Sejong-si
Abstract: 
Many different approaches and databases have been developed for the evaluation of nontariff measures (NTMs) and free trade agreements (FTAs). This paper is devoted to the EUSouth Korea agreement, which is the first second-generation'FTA of the EU, addressing a wide array of non-tariff policies. We review the evolution of NTM types applicable to the EU-South Korea trade relationship and the role of NTMs in ex-ante and ex-post analyses of the agreement. Subsequently a structural gravity model is employed to assess the value added of information on different aspects of FTAs and types of NTMs by evaluating their ability to predict the trade effects of the EU-South Korea FTA. Our results show that, when accounting for information on the components common in modern deep trade agreements, no additional trade effect is attributable to the EU-South Korea FTA. The evolution of NTMs differs considerably across indicators used, but trade predictions are hardly affected. Most specifications point towards a negative effect of bilateral differences in the number of technical barriers to trade (TBT) applied and sanitary and phytosanitary measures (SPS) against which trading partners issued complaints at the WTO.
Subjects: 
Trade Policy
Free Trade Agreement
EU
South Korea
Gravity Model
JEL: 
C54
F13
F14
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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