TAILIEUCHUNG - Determinants of trade flows in Apec member economies

This paper attempts to analyze the determinants of trade flows among APEC member economies. Using the panel data analysis, the empirical results show a number of robust findings. First, GDP is one of the most important determinants of trade flows among APEC economies. Second, membership in an FTA would likely lead to an increase in trade among the member countries. | Nguyễn Khánh Doanh Tạp chí KHOA HỌC & CÔNG NGHỆ 81(05): 45 - 50 DETERMINANTS OF TRADE FLOWS IN APEC MEMBER ECONOMIES Nguyen Khanh Doanh* Thainguyen University of Economics and Business Administration - TNU ABSTRACT This paper attempts to analyze the determinants of trade flows among APEC member economies. Using the panel data analysis, the empirical results show a number of robust findings. First, GDP is one of the most important determinants of trade flows among APEC economies. Second, membership in an FTA would likely lead to an increase in trade among the member countries. Third, countries speaking common languages tend to trade more with each other. Fourth, distance remains a hindrance to trade flows even though technological innovations continue to spark reductions in transport costs. Fifth, countries having colonial relationship or sharing the same border have tendency to trade more with each other. Finally, for APEC economies, it might be that the economies-of-scale effect is greater than the absorption effect, which allows the advantages of economies of scale to be fully exploited. Efforts to increase the GDP of APEC member economies, enhance social infrastructure, improve language ability and reduce the cultural differences are suggested as remedies for the obstacles to freer flow of trade in the region. Keywords: Trade Flows, Fixed Effects Model, Random Effects Model, APEC INTRODUCTION* Economists have recognized that international trade has made significant contribution to and serve as an engine for economic growth. The major gains for countries liberalizing trade could be realized through improved efficiency as a result of greater competition, specialization and economies of scale, increased availability of imported inputs, and enhanced access to foreign technology. In terms of this vital contribution, member economies of the Asia-Pacific Economic Cooperation (APEC) are not exceptional since international trade is an important economic dynamic in .

• Kinh tế học
• Determinants of trade flows in Apec member economies
• Determinants of trade flows
• Apec member economies
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