초록 열기/닫기 버튼
This paper aims to evaluate the economic integration and agricultural trade effects under the framework of the ASEAN community. Having embraced globalization and market openness, the ASEAN region is realizing the comparative advantage in the agricultural industry and reaping the benefit of trade liberalization. In order to determine if the rapid development of market integration has actually created or diverted agricultural trade flows within or across the region, an augmented version of the gravity model is constructed and estimated on panel data over the 1995-2010 periods. The presence of many zero-trade flows in the sample data is taken into account by the Heckman two stage procedure along with a Tobit approach. The estimated results suggest that the formulation of ASEAN and its subsequent trade reforms have contributed to net creating trade of agricultural products. These findings shed light on how the successive enlargements accompanied by deepening integration into the wider world could make ASEAN achieve the goal of establishing a single market and production base.
