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 |