Currencies and culture: An amusing journey into the impacts of exchange rates on global creative industries

IF 0.9 4区经济学 Q3 ECONOMICS

American Journal of Economics and Sociology Pub Date : 2024-03-29 DOI:10.1111/ajes.12567

Shao Baorui, Zhang Zhiyuan, Li Zhao

引用次数: 0

Abstract

This paper examines the impact of exchange rate changes on cultural services trade balances in China, Japan, the United States, United Kingdom, France, and Germany from 2006 to 2015. These six countries represent dominant players whose experiences reflect global impacts. Autoregressive distributed lag (ARDL) models test for J-curve effects. Cultural distance matrices combined with cluster analysis explore how cultural proximity influences trade structures. Results demonstrate a J-curve effect in China contrasting with a reverse J-curve in the United States. China and Japan form one cultural trade cluster distinct from a Western bloc of the United States, United Kingdom, and France. This signifies emerging economies have developed unique cultural trade models. The research enriches empirical evidence on exchange rate impacts for understudied cultural services trade. Introducing cultural distance provides a novel perspective and policy insights for emerging economies.

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货币与文化：汇率对全球创意产业影响的有趣之旅

本文研究了 2006 年至 2015 年汇率变动对中国、日本、美国、英国、法国和德国文化服务贸易差额的影响。这六个国家代表着主导者，其经历反映了全球影响。自回归分布滞后（ARDL）模型检验了 J 曲线效应。文化距离矩阵与聚类分析相结合，探讨了文化接近性如何影响贸易结构。结果表明，中国的 J 曲线效应与美国的反向 J 曲线形成对比。中国和日本形成了一个文化贸易集群，有别于由美国、英国和法国组成的西方集团。这表明新兴经济体已经形成了独特的文化贸易模式。这项研究丰富了有关汇率对研究不足的文化服务贸易影响的经验证据。文化距离的引入为新兴经济体提供了新的视角和政策见解。

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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来源期刊

American Journal of Economics and Sociology Multiple-

CiteScore

1.90

自引率

12.50%

发文量

期刊介绍： The American Journal of Economics and Sociology (AJES) was founded in 1941, with support from the Robert Schalkenbach Foundation, to encourage the development of transdisciplinary solutions to social problems. In the introduction to the first issue, John Dewey observed that “the hostile state of the world and the intellectual division that has been built up in so-called ‘social science,’ are … reflections and expressions of the same fundamental causes.” Dewey commended this journal for its intention to promote “synthesis in the social field.” Dewey wrote those words almost six decades after the social science associations split off from the American Historical Association in pursuit of value-free knowledge derived from specialized disciplines. Since he wrote them, academic or disciplinary specialization has become even more pronounced. Multi-disciplinary work is superficially extolled in major universities, but practices and incentives still favor highly specialized work. The result is that academia has become a bastion of analytic excellence, breaking phenomena into components for intensive investigation, but it contributes little synthetic or holistic understanding that can aid society in finding solutions to contemporary problems. Analytic work remains important, but in response to the current lop-sided emphasis on specialization, the board of AJES has decided to return to its roots by emphasizing a more integrated and practical approach to knowledge.