Journal of Chemical and Pharmaceutical Research (ISSN : 0975-7384)

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Original Articles: 2014 Vol: 6 Issue: 5

The Principle of Cultural Trade Flows with Proper Specification of Gravity Model

Abstract

This paper studied the cultural trade flows focused the period of 2001 to 2011 on bilateral trade of cultural goods among East Asia members, by investigating the factors that affect cultural goods trade volumes. The results showed the economic masses and GDP per capita of home country should improve the cultural goods’ market competition, distance always places a negative but no significant influence, the colonial links has a positive affect. Also, the evaluation showed the consumers’ preferences and tastes have influenced the cultural goods trading. Cultural goods’ bilateral trade also has different characters with other manufactured goods and it provides significant impact of nation’s soft power and economic strength.