Gravity model in Thailand with ASEAN and NON-ASEAN Empirical analysis in Trade

Abstract: In this paper, the trade volume between Thailand and ASEAN members and non-members is empirically analyzed by using the gravity model. The 1995-2018 panel data were used to establish a gravity model with variables such as distance from Thailand to each country, GDP,  per capita GDP and whether it is an ASEAN country. According to the results of the gravity model, the economic aggregate of each country, the distance from Thailand and whether it is an ASEAN country have a significant influence on the trade volume between Thailand and each country.

Keywords: The gravity model ; ASEAN