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KCI등재 학술저널

Trade Blocks and the Gravity Model

Evidence from Latin American Countries

We apply the gravity model to examine the effects of the Andean Community and Mercosur on both intra-regional and intra-industrial trade in the period 1980- 1997. After accounting for size distance and competitiveness effects, the Andean Community preferential trade agreements had a significant effect on the reference products but only a marginal effect on the differentiated products, in particular capital-intensive goods. Mercosur preferential trade agreements had a significant positive effect only on the capital-intensive subcategory of the reference products.

Ⅰ. Introduction

Ⅱ. Latin America Integration Association and Intra-regional Trade Flows

Ⅲ. The Gravity Model of Trade

Ⅳ. Estimating the Gravity Equation

Ⅴ. Conclusions and Policy Implications