THE RCEP AGREEMENT AND FOOD SECURITY: EVIDENCE FROM 15 MEMBER COUNTRIES

Abstract

The establishment and enhancement of free trade zones have played a crucial role in fostering regional economic collaboration, particularly in response to the concurrent problems of global economic expansion and disruptions in global supply networks. These challenges have had a significant impact on food security. The primary objective of this study is to investigate the effects of expansive free trade agreements on the food security of participating nations, with particular emphasis on the implementation of the Regional Comprehensive Economic Partnership (RCEP) agreement. This article employs food data obtained from the World Bank and the Food and Agriculture Organization of the United Nations, covering the time frame from 2002 to 2021. The focus of this study is to examine the effects of the Regional Comprehensive Economic Partnership (RCEP) on the food security of its member nations. To achieve this, the difference-in-differences model is utilized for empirical analysis. The analysis demonstrates that the establishment of the Regional Comprehensive Economic Partnership (RCEP) has the potential to greatly improve the food security status of every participating nation. Furthermore, the impacts of the agreement demonstrate notable variations among emerging and developed nations, countries with high and low population densities, as well as East Asian and Southeast Asian countries. Therefore, the findings of this study propose that member nations should proactively establish the Regional Comprehensive Economic Partnership (RCEP) free trade area to bolster food security through the reduction of trade barriers and the expansion of trade volume.