초록 열기/닫기 버튼
This study examines the historic evolution of FTA network during the period from 1973 to the mid-2010s. We first observe important empirical features that have appeared in FTA network evolution over time and, then, show that these features match with micro-incentives of participating individual countries. Finally, by incorporating empirical observations and micro-incentives of countries into the macro-evolution model, we explain how the FTA network evolves over time. The macro-evolution model based on empirical observations and micro-incentives well explains the evolution of FTA network, especially until the early 2000s. This fact implies that even random formation process of network produces a good approximation to the observed network as long as important features are well incorporated into the network formation process. Additionally, we observe that although the proliferation of regionalism may not lead to complete global trade liberalization, it makes substantial contribution to the establishment of global village.
