Effect of Preferential Trade Agreements on Energy Imports from Chinese and Exporters’ Perspective

摘要

The trade gravity model framework allows quantifying the effects of PTA on energy trade. Besides affecting trade flows, a PTA can facilitate increasing or securing a share in Chinese energy imports or – from the Chinese perspective – in diverting energy exports from other importers. Policy arrangements, represented by a PTA dummy variable, facilitate mutual increase in export / import shares in coal trade and help China secure larger share in partners’ gas exports. The market shares of export / import of oil and oil products, on the other hand, are affected by the tariff level. Importance of the market share factor is showcased by the recent drop in Chinese energy imports, which primarily affected non-PTA exporters.