Sensitivity of bilateral trade between Korea and China to exchange rate fluctuations: Insights from the semiconductor industry

Jungho Baek, Shanyu Piao, Soojoong Nam
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Abstract

This study delves into the impact of exchange rate fluctuations on the bilateral semiconductor trade between Korea and China. We present compelling evidence emphasising the significant role of exchange rate changes in Korea's semiconductor trade with China, affecting both short‐term and long‐term dynamics. Our analysis also reveals an asymmetrical effect of bilateral exchange rates on Korea's semiconductor trade with China. Specifically, we find that exchange rate asymmetries primarily manifest as a long‐term phenomenon in Korea's semiconductor exports to China. At the same time, they influence both short‐ and long‐term dynamics in Korea's semiconductor imports from China.
中韩双边贸易对汇率波动的敏感性:半导体行业的启示
本研究深入探讨了汇率波动对中韩双边半导体贸易的影响。我们提出了令人信服的证据,强调汇率变动在韩国与中国的半导体贸易中发挥着重要作用,既影响短期动态,也影响长期动态。我们的分析还揭示了双边汇率对韩国与中国半导体贸易的非对称影响。具体而言,我们发现汇率不对称主要表现为韩国对华半导体出口的长期现象。同时,汇率不对称也影响着韩国从中国进口半导体的短期和长期动态。
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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