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Three Essays on Korea-Germany Trade Relations

초록

This dissertation is comprised of three essays on Korea-Germany trade relations. Essay I analyses the dynamic patterns of bilateral trade with an emphasis on the technological composition of trade. Major findings are that the goods composition overlaps in vehicles, industrial and electrical machinery and there has been a convergence in the technological composition of trade. The dynamic of bilateral trade growth has been slowing down and trade has room for growth on both sides. Essay II empirically investigates whether trade promotion agencies of Korea and Germany are effective at promoting exports to 198 partners between 1992 and 2021, using the gravity model of trade. We find that the effect of trade promotion agencies differs by income level of the host country. Results show that trade promotion agencies are only effective in low and lower-middle income countries. Multiple offices per host country do not seem to contribute to exports. Essay III analyses the level and composition of intra-industry trade between Korea and Germany and empirically tests the determinants of intra-industry trade between Korea, Germany and 18 European partners between 2000 and 2020. Korea-Germany trade is predominantly of inter-industry trade nature. Intra-industry trade is dominated by low quality vertical intra industry trade. The main determinants of vertical intra industry trade are FTA and differences in per capita income. For horizontal intra-industry trade, major determinants are average market size, FTA, technological endowments and market size differences.

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목차

Essay I 140 years Korea-Germany Trade Relations - Evolution, Trends and Technology 1
I. Introduction 2
II. Literature review 4
III. Methodology and data 7
IV. Evolution of Korea-Germany bilateral trade 8
A. Initial phase from late 19th century onwards 8
B. 1960- 1990s 10
C. 1990- present 22
V. Analysis of trade composition and trade indices 33
A. Technological composition 33
B. Trade Intensity Index 38
C. Revealed Comparative Advantage 40
VI. Conclusion 47
Essay II Do trade promotion agencies increase exports? Empirical evidence from Korea and Germany 50
Abbreviations 51
I. Introduction 52
II. Background 56
A. Definition of key terms 56
B. Theoretical background 57
C. Institutional comparison 60
III. Literature review 71
IV. Empirical methodology and data 77
A. Gravity Model 77
B. Model specification 79
C. Estimation method and econometric issues 81
D. Data 82
V. Results 90
A. Korea Germany Panel 90
B. Robustness checks 98
VI. Conclusion 108
Appendix 110
Essay III Patterns and Determinants of Vertical and Horizontal Intra-Industry Trade between Korea, Germany and major European partners 116
Abbreviations 117
I. Introduction 118
II. Literature review 120
A. Theoretical literature 120
B. Empirical literature 124
III. Methodology 132
A. Measurement and decomposition of IIT 132
B. Hypotheses 138
C. Model specification 145
D. Econometric issues 149
E. Data 151
IV. Trends and patterns of IIT 155
A. Korea – Germany IIT 155
B. Korea – Europe IIT 163
V. Empirical results 167
VI. Conclusion 175
Appendix 178
Bibliography 179

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