A Study of Global Value Chains and Regional Trade Agreements

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This study aims to analyze trade efficiency in the context of Global Value Chains (GVC) participation and measure the impact of regional trade agreements (RTAs) on trade efficiency. The research will utilize a stochastic gravity model to estimate trade efficiency, which reflects the gap between actual and potential linkages in a frictionless world. Additionally, the study will investigate how the establishment of RTAs affects trade efficiency by considering countries' participation in GVCs. This empirical evidence will contribute to understanding the potential for further trade integration.The first stage of this research has successfully measured trade efficiency in East Asia and examined the impact of RTAs on trade efficiency. The estimation results indicate that RTAs generally improve trade efficiency among member countries in East Asia. Furthermore, I explored changes in trade efficiency between member and non-member countries, contributing to the understanding of trade diversion effects resulting from RTA formation. The results reveal that export diversion due to RTAs is uncommon in East Asia. However, the analysis indicates that imports of ASEAN countries tend to divert away from non-members.