Variables

Proxy

Expected Signs

Sources

Exports Korea/MENA

Lnexports

World integrated trade solution (WITS)

(constant 2010 US$)

Imports Korea/MENA

LnImports

World integrated trade solution (WITS)

(constant 2010 US$)

Real GDP Korea

Real GDPK

+

GDP (constant 2010 US$)

World Bank national accounts data, and OECD National Accounts data files.

Real GDP MENA

Real GDPj

+

GDP (constant 2010 US$)

World Bank national accounts data, and OECD National Accounts data files.

Korean Population growth

Population growth K

+

World Population Prospects: Revision 2019, United Nations Population Division, Population, and Vital Statistics Report, U.S. Census Bureau: International Database, and Secretariat of the Pacific Community: Statistics and Demography Programme, Census reports and other statistical publications, articles from national statistical offices, Eurostat: Demographic Statistics, and United Nations Statistical Division

MENA countries’ population growth

Population growth j

+

World Population Prospects: Revision 2019, United Nations Population Division, Population, and Vital Statistics Report, U.S. Census Bureau: International Database, and Secretariat of the Pacific Community: Statistics and Demography Programme, Census reports and other statistical publications, articles from national statistical offices, Eurostat: Demographic Statistics, and United Nations Statistical Division

Distance

DistKj

-

Centre d’ Etudes Prospective et d’ Information’s Internationals (CEPII)’s distance (in kilometers)

FDI

FDIj

+

This variable is used to observe the investment pattern in the MENA countries affecting Korea. It demonstrates net inflows in the reporting economy from foreign investors and is divided by GDP.

Trade Openness

Trade Openness

+

World development indicators

Exchange Rate

Exchange rate

+

Local Currency Units per U.S. Dollar. World Bank national accounts data

Oil Rents

Oil rentsj

+

World Bank