Korean Trade in 10 Service Industries and Role of the Won? An Asymmetric Analysis

IF 0.9 Q3 ECONOMICS

INTERNATIONAL ECONOMIC JOURNAL Pub Date : 2022-12-06 DOI:10.1080/10168737.2022.2153899

Mohsen Bahmani‐Oskooee, Jungho Baek

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引用次数: 1

Abstract

International trade includes trade not just in goods but also in services. Introduction of internet technology has helped to boost trade in services by more than trade in goods. What has been the role of the exchange rate in this journey? While many studies have investigated the link between the exchange rate and trade in goods, only three studies in the literature have assessed the impact of exchange rate changes on trade in services. Two have used data from the U.S., and one from China. We add to this new emerging literature by assessing the symmetric and asymmetric effects of changes in the real effective exchange rate of the Korean won on Korean trade in 10 service categories with the rest of the world. Considering the symmetric (linear) models and asymmetric (nonlinear) models to be complementary, we find short-run effects of imports and exports of almost all 10 service industries. Short-run effects translate into the long run in little over 50% of industries. These findings did not change significantly when we considered real trade in services versus nominal trade. Our findings were industry-specific.

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10大服务产业的韩国贸易和韩元的作用?非对称分析

国际贸易不仅包括货物贸易，还包括服务贸易。互联网技术的引入对服务贸易的促进作用超过了货物贸易。汇率在这一过程中扮演了什么角色?虽然许多研究调查了汇率与货物贸易之间的联系，但文献中只有三项研究评估了汇率变化对服务贸易的影响。其中两家使用了美国的数据，一家使用了中国的数据。我们通过评估韩元实际有效汇率变化对韩国与世界其他地区10个服务类别贸易的对称和不对称影响，为这一新出现的文献添加了新的内容。考虑到对称(线性)模型和非对称(非线性)模型是互补的，我们发现几乎所有10个服务行业的进出口都存在短期效应。在超过50%的行业中，短期效应转化为长期效应。当我们考虑实际服务贸易与名义贸易时，这些发现没有显著变化。我们的调查结果是针对特定行业的。

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

INTERNATIONAL ECONOMIC JOURNAL Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

2.10

自引率

0.00%

发文量

期刊介绍： International Economic Journal is a peer-reviewed, scholarly journal devoted to publishing high-quality papers and sharing original economics research worldwide. We invite theoretical and empirical papers in the broadly-defined development and international economics areas. Papers in other sub-disciplines of economics (e.g., labor, public, money, macro, industrial organizations, health, environment and history) are also welcome if they contain international or cross-national dimensions in their scope and/or implications.