An Analysis of the Trade Environment Affecting Art Export Performance: The Interaction Effect of Cultural and Economic Distance

This study analyzes the effects of cultural and economic distance on art export performance(HS Code 97). Using panel data on Korea's art exports to 52 countries from 2013 to 2024, the results show that cultural distance has a positive effect on art exports, while economic distance has a negative effect. Notably, the interaction between these two factors demonstrates a significant positive effect on art export performance. This suggests that greater cultural distance enhances the exotic appeal and scarcity value of artworks. These effects can offset the negative impacts of economic distance and potentially increase the positional goods value of art. The findings indicate that art trade follows unique patterns distinct from conventional goods, with cultural and economic factors interacting in complex ways. The study concludes that differentiated export strategies considering these unique characteristics are necessary for enhancing art export performance.