무역 증가가 무역 참가국의 산업의 비유사성을 줄이는가?

Can a Trade Increase Reduce Dissimilarities of Industries among Trading Countries?

Purpose - This research aims to analyze the effect of trade volume on industries within Global Value Chains (GVCs) among eight Asia-Pacific countries in order to examine how an increase in trade volume can alter the industries of the participating countries. Design/Methodology/Approach - We used a metric Multi-dimensional Scale (MDS) to estimate the dissimilarities of GVCs in each country with non-parametric regression and OLS, and GLS to examine the effects of within- and between-industry trade on GVCs. Findings - The MDS result shows that China and Russia were located 90 degree to each other, while the rest of the countries were located in the center. China is the most GVC country, and Russia is the least GVC country. The results of the dissimilarities show that both within-industry and between-industry trade can reduce dissimilarities among trading countries. This means that an increase in trade volume can lead to greater consistency among bilateral trading countries. Research Implications - Unlike the specialization effect, our research demonstrates that an increase in bilateral trade volume in GVCs reduces dissimilarities among trading countries. However, we cannot conclude that there is no specialization; rather, limited specialization exists. Our results suggest that within-industry trade has a more significant and stronger effect on reducing dissimilarities in GVC industries compared to between-industry trade.