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Korean exports and the role of China : Evidence from industry data

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of the Korean won on Korea’s exports.1) This article complements the existing literature by determining the role of China in influencing the exports of Korean industries. Among the structural changes in the international trade environment that the Korean economy has faced in recent years, the most important are China’s rapid growth and its integration into the global economy. On the one hand, China’s share of Korean exports has risen rapidly since 1990s, and now the Chinese market accounts for the largest share of Korean exports among its trading partners. On the other hand, the rise of China as the world’s major supplier of cheap manufactured good has put increased competitive pressure on Korea industries. As a result, changes in China’s exports and consumption expenditures may have a significant effect on Korean exports. Of note is that the exact magnitude of the effects is likely to be different between industries, since the degree of dependence on China as an export market and the degree of competitive pressure imposed by China
1) See, for a survey, Yun, Seong-Hun(2007), “Effects of Exchange Rates on Korean Exports by Products”, Kukje KyungGje Yongu, Vol. 13, No. 2, pp. 83~111.
are different across industries. This article provides industry-level evidence on the long-run effects of China’s exports and consumption expenditures on Korean exports, using the fully-modified generalized method of moments(FM-GMM) proposed by Kitamura and Phillips(1997).2) The estimation res


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Title Korean exports and the role of China
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Sub Title

Evidence from industry data

Material Type Reports
Author(English)

Hwang, Sunoong

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2011
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 16(no. 2)
Pages 12
Subject Country China(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Holding KDI School of Public Policy and Management

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