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The trade performance of Asian economies during and following the 2008 financial crisis

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  • The trade performance of Asian economies during and following the 2008 financial crisis
  • Wang, Jing; Whalley, John
  • National Bureau of Economic Research


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Title The trade performance of Asian economies during and following the 2008 financial crisis
Similar Titles
Material Type Reports
Author(English)

Wang, Jing; Whalley, John

Publisher

Cambridge:National Bureau of Economic Research

Date 2010-06
Series Title; No NBER Working Paper Series / 16142
Pages 35
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Financial Policy
Economy < Trade
Holding National Bureau of Economic Research

Abstract

This paper documents and compares the trade performance of the major Asian economies both during and following the 2008 financial crisis. We consider China, India, Thailand, Malaysia, South Korea, Japan, Singapore and Chinese Taiwan. We access separate country data files giving monthly trade performance for both the import and export sides throughout the crisis. We use these to compare the size, speed and acceleration of trade compression with the onset of the crisis, and the reverse effects on recovery. We do this in aggregate and by product and bilateral trading partner. The data reported show considerable diversity of country experience. Among manufacture exporters China has seen a major decline in trade with a slow recovery, whereas Korea experienced smaller initial impact but a quick rebound. Import impacts are mildest for India and commodity exporters including Malaysia. On the import side, the falls in world oil prices impact sharply on import values. (The rest omitted)