The Effect of Economic Integration on the Sugar Export of Thailand
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Abstract
This research aimed to study the structure of sugar production and sugar exports in Thailand and the impact of economic integration on Thailand's sugar exports to trading partners with the highest value of Thai sugar exports, which include Indonesia, Cambodia, Myanmar, and Vietnam. The data used in the study is panel data collected over the past 20 years, from 2001 to 2020. Independent variables are the gross domestic product (GDP) of trading partners, the imported sugar prices of trading partners (IMPRI), and the free trade agreement (FTA). The dependent variable is the volume of Thai sugar exports to trading partners (EX). The total data includes 80 observations. This study applied the unit root test and panel data analysis using a fixed effect regression model. The results of the study found that factors affecting the volume of Thai sugar exports are the gross domestic product of the trading partner country (GDP), which will have a positive impact when the trading partner country's income increases. As a result, the volume of Thai sugar exports has also increased. And the price of imported sugar from trading partners (IMPRI) has a negative impact on the volume of Thai sugar exports. It was also found that the economic cooperation agreement had a negative impact on the volume of Thai sugar exports. In addition, by comparing the relationship of variables using the fixed effect method, it was found that the variables of Indonesia, Cambodia, Myanmar, and Vietnam are related in the same direction.
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