A Study on the Interrelationship Among Import Volume, Export Volume and the Effects of Korean Wave: Focusing on BTS

Abstract

Purpose – This study is an empirical study on the relationship among export volume and import volume, with BTS internet search trends indexed. Design/Methodology/Approach – In this study, we used 111 monthly data sets on BTS internet search trends, the export volume, and the import volume from April 30, 2013 to Jun 30, 2022. We try to analyze the mutual influence and causality among BTS internet search trends, the export volume, and the import volume. We seek to analyze the extent of any cross-influence. We employ a variance decomposition function based on a VAR model, as well as impulse response after a cointegration test and unit root test. Findings – The important results of this study are summarized as follows. First, there is at least one cointegration among the first differential data of BTS internet search trends, export volume, and import volume. Secondly, import volume does have Granger causality with BTS internet search trends. The export and import volume show Granger causality. BTS internet search trends and the export volume have Granger causality with BTS internet search trends and export volume. Research Implications – This study differs in that it uses BTS internet search trends and the Korean wave. It has limitations in that the study period is short and the study sample is limited.