국제무역에서 중간재는 소비재보다 물리적 거리에 더 민감한가?

Abstract

In this paper I analyze (1) whether the distance coefficients of intermediate goods in the gravity model are larger than household consumption goods, and (2) whether the distance coefficients decreases from 2000 to 2020 when the globalization expanded. As the results the distance coefficient of intermediate goods was larger than household consumption goods, which means that when sourcing the intermediate goods from abroad, firms prefer short-distance countries to long-distance countries. This is because inventory management costs and synchronization costs between production processes in the global value chain increase with distance in intermediate goods trade. The results also showed that, contrary to expectations, the physical distance between the two countries as trade barrier has strengthened at a time when globalization has expands. This means that, in spite of expansion of globalization, trade with closer countries is growing faster than trade with long distance-countries. The development of ICT technology has facilitated information exchange with long distance-countries but information, knowledge, and news are still exchanged more frequently between short-distance countries. Therefore, information asymmetry with short-distance countries is reduced more than in long-distance countries.