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An Economic Feasibility Analysis of a Korea-Singapore FTA and a Korea-China FTA
Chang-Bong Kim, Ahn Kook-Hwan
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Abstract
This paper examined an economic feasibility analysis of a Korea-Singapore FTA and a Korea-China FTA. Based on the data collect with welfare level, income level, inflation, and trade balance, the following results were found. First, the economic effects of world's free trade areas can be enhanced through an open regionalism. Second, the economic effects of world's free trade areas can be enhanced through the inter-regional trade between Korea, Singapore, or China. Third, the economic effects of world's free trade areas can be enhanced through the economic effects of a Korea-Singapore FTA and a Korea-China FTA. However, there are several limitations, such as measurement for the economic effects of free trade areas, small sample size, and secondary data in using parameter from simulation analysis, that make the preceding conclusions be considered preliminary.