Determined Factors of International Trade in Cultural Goods of China: A Panel Data Analysis
We use gravity model to estimate the determined factors of international trade in China’s Cultural Goods. Except for antiques and other visual arts, most of cultural goods have negative relations with distance variable. Most of China’s import in cultural goods are from developed countries, and highly influenced by exporters market conditions, such as architecture, design and jewellery. China’s import of cultural goods is not influenced by China’s purchasing power; but most of China’s export in cultural goods is highly influenced by importer’s purchasing power. Because of different traits of culture goods, China’s GDP and population variable have different effects on China’s trade in culture goods. In addition, the productiveof cultural goods has little effect on China’s import of culture goods, but has a positive effect on China’s export of other visual arts, jewellery, film and video, architecture and design.
KeywordsTrade in Cultural Goods China Gravity Equation
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