This paper provides analytical evidence of how closely the region as a whole is connected and the member economies are linked with each other in terms of goods trade, and also by how much the region as a whole has increased its intraregional trade since APEC was founded in 1989.

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1. INTRODUCTION

2. STYLIZED FACTS ON THE APEC REGION AND ITS INTRA-REGIONAL TRADE
2.1. Diversity and Dynamism of the APEC Region
2.2. Changing Structure of Intra-regional Trade

3. EMPIRICAL SPECIFICATIONS OF THE GRAVITY MODEL
3.1. Benchmark Specification for Measuring Aggregate Effects of APEC Membership
3.2. Specification for Measuring Member-Specific Effects of APEC Membership
3.3. Specification for Measuring Year-Specific Effects of APEC Membership

4. ESTIMATION RESULTS
4.1. Aggregate Effects of APEC Membership
4.2. Member-Specific Effects of APEC Membership
4.3. Year-Specific Effects of APEC Membership

5. POLICY IMPLICATIONS
5.1. Policy Implications
5.2. Suggestions for Further Study

REFERENCES
APPENDIX: Data Sources