Korean Current Account Surplus and the Transmission of the Won-Dollar Exchange Rate

Seongman Moon, Yoon Sun Choi
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引用次数: 0

Abstract

This paper empirically investigates the effects of exchange rate shocks on the variables of the primary interests, such as trade balance and current account, using the Korean data. The result shows that the effect of the won-dollar exchange rate on the current account is weak. This is because the effect of the won-dollar exchange rate on exports and imports are similar. We also examine the effect of the won-dollar exchange rate shock on Korea’s trade balance with major trading partners such as the US, China, Japan, and the European Union, respectively. The results show that the responses of the Korea-Japan and Korea-European Union trade accounts are weak and not statistically significant; but those from the Korea-US trade account and the Korea-China trade account are statistically significant.
韩国经常收支顺差和韩元兑美元汇率的传导
本文利用韩国的数据,实证研究了汇率冲击对贸易差额和经常项目等主要利益变量的影响。结果表明,韩元兑美元汇率对经常项目的影响较弱。这是因为韩元兑美元汇率对出口和进口的影响是相似的。我们还研究了韩元兑美元汇率冲击对韩国与美国、中国、日本和欧盟等主要贸易伙伴的贸易平衡的影响。结果表明,韩日、韩欧贸易账户的响应较弱,且不具有统计学意义;但韩美贸易账户和韩中贸易账户的差异具有统计学意义。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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