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Exchange Rates And Foreign Trade In Korea
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Book Synopsis Exchange Rates and Foreign Trade in Korea by : Bela A. Balassa
Download or read book Exchange Rates and Foreign Trade in Korea written by Bela A. Balassa and published by World Bank Publications. This book was released on 1991 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Korea's exchange rate has had a greater effect than other domestic economic variables on its exports, which have been key to its outstanding economic growth. Thus Korea's use of the exchange rate as a policy variable makes good sense and should be continued as long as domestic and foreign inflation rates differ.
Book Synopsis South Korea by : Charles Raphael Frank
Download or read book South Korea written by Charles Raphael Frank and published by Columbia University Press. This book was released on 1975 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph, emanating from a research project on foreign trade regimes and economic development, on the evolution of trade policy and the payment system in Korea R - covers trends since 1946 in respect of exchange rates, foreign exchange controls, trade liberalization, export growth and export promotion strategies, etc. Bibliography pp. 249 to 257, references and statistical tables.
Book Synopsis The Impact of Exchange Rate Fluctuations on Korean Industry by : Soo-Dong Kim
Download or read book The Impact of Exchange Rate Fluctuations on Korean Industry written by Soo-Dong Kim and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The stabilization of exchange rate fluctuations is an important economic policy issue for an open, export-oriented country such as South Korea. The 1997 foreign exchange crisis and the 2008 global financial crisis put the Korean foreign exchange market in great turmoil, and the instability of the exchange rate resulting from those crises seriously affected the economy as a whole. In addition, more frequent fluctuations in the value of the Korean won are causing concerns about the negative impact on foreign trade. This uncertainty in the external sector is a very important variable that can influence decision making by industries, companies and various stakeholders. As exchange rate fluctuations drew the attention of economists, they began to study their effects on macroeconomics using time series. However, recently analyses of exchange rate fluctuations have expanded to the firm level using corporate and industrial data.Meanwhile, major industrialized countries such as the U.S., Japan and the EU are trying to maintain monetary policy in a way that lowers or at least does not raise the value of their currencies for economic stability, economic recovery, and job creation. Many countries that suffer from currency appreciation and a current account deficit have been intervening in the foreign exchange market somewhat aggressively. And the debate about the legitimacy of these measures is intensifying. Countries around the world have engaged in a competition do devalue their currencies, and this trend is expected to accelerate amid creeping protectionism. For these reasons, the appreciation of the won is likely to persist over the long term, and concerns over the negative impact of this trend are also growing.Companies and industries will be affected differently by exchange rate fluctuations, depending on their export ratio, profitability and firm value, and the size of the effect will be different as well. The effect of exchange rates on the profitability of companies and industries varies depending on the characteristics and circumstances of the company in question, such as its share of exports of total sales, its dependency on the import of raw materials, and overseas market share of export products. Therefore, it is necessary to closely examine the effect of the exchange rate on corporate and industrial performance in a scenario where the won persistently appreciates. The results of this study are expected to carry various implications for individual companies operating in each industry. And these policy suggestions can be used as valuable reference materials for deploying countermeasures at the firm level. This study analyzes the effects of exchange rate fluctuations on profitability of firms and industries. This analysis will provide a basis for implementing countermeasures at the firm and industry level and design differentiated countermeasures according to the size of the impact of the exchange rate on profitability.In Chapter 2, I first examine the long-term and recent trends of the won against the currencies of major countries. And I also research the impact channel of exchange rate fluctuations on the performance or profitability of a firm or industry. I then review the previous research, which discusses how exchange rate fluctuations affect firm and industry performance. In Chapter 3, I analyze the effect of exchange rate fluctuations on the profitability of firms and industries empirically during the period from 2003 to 2017. In doing so, I theoretically examine the effect of the exchange rates on corporate profits, assuming that the final goods produced using imported raw materials are sold in domestic and foreign markets. In addition, I examine the effect of exchange rates on corporate profitability using corporate financial data and then study how it affects industry profitability according to the importance of overseas markets, whether the firm in question is listed or not and the size of company. Chapter 4 provides an overall conclusion and presents implications.
Book Synopsis How to Trade with Korea by : DIANE Publishing Company
Download or read book How to Trade with Korea written by DIANE Publishing Company and published by DIANE Publishing. This book was released on 1995-10 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Highlights various aspects of the Korean economy, such as trade, finance, service industries and investment. Also, how to approach the Korean market, and an introduction to Korean culture and history. Charts, tables and graphs.
Book Synopsis Import Controls And Export-oriented Development by : Richard Luedde-neurath
Download or read book Import Controls And Export-oriented Development written by Richard Luedde-neurath and published by Routledge. This book was released on 2019-04-02 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to consider the role of import controls in an export-oriented development strategy, and is based on a case study of South Korea, widely regarded as one of the classic success - stories in this -respect. According to accepted wisdom, a strategy of export orientation should be predicated upon a liberal import regime. Trade controls should be avoided, as they give rise to a host of negative consequences. The South Korean experience is often held up as an empirical illustration of how liberal import polices constitute an integral part of export-oriented success.
Book Synopsis A Framework for Exchange Rate Policy in Korea by : Michael Patrick Dooley
Download or read book A Framework for Exchange Rate Policy in Korea written by Michael Patrick Dooley and published by 대외경제정책연구원. This book was released on 2002 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Shaping a New Economic Relationship by : Jongryn Mo
Download or read book Shaping a New Economic Relationship written by Jongryn Mo and published by Hoover Institution Press Publi. This book was released on 1993 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Turning to Washington for help, American businesspeople demanded their government reduce the flood of foreign imports and increase U.S. access to foreign markets. The Republic of Korea was targeted for such action
Book Synopsis Determinants of Korean Trade Flows and their Geographical Destination by : Mr.Lorenzo Giorgianni
Download or read book Determinants of Korean Trade Flows and their Geographical Destination written by Mr.Lorenzo Giorgianni and published by International Monetary Fund. This book was released on 1997-04-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the behavior of Korean trade flows during the last three decades and presents estimates of aggregate export and import equations. In particular, it considers different choices for scale and price variables and assesses the relative merits of these alternative specifications in terms of stability and forecasting performance. It also provides an assessment of the drastic change in the geographical destination of Korean exports during the 1990s.
Download or read book Korea's Exchange Rate Policy written by and published by . This book was released on 1989 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rates and Prices by : William R. Smith
Download or read book Exchange Rates and Prices written by William R. Smith and published by Routledge. This book was released on 2017-04-21 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1996. This study looks at the impact of exchange rate fluctuation on the pricing practices of foreign industries that import into the United States market. It presents several studies of the pass-through behaviour of over 100 disaggregated commodity groups with bi-lateral exchange rates. The book presents analysis of specific competitors and their individual pricing responses to exchange rate changes, adding significantly to pricing theory as well as being useful for marketers in predicting business responses.
Book Synopsis Exchange Rates, Shocks and Inter-dependency in East Asia by : Sophie Saglio
Download or read book Exchange Rates, Shocks and Inter-dependency in East Asia written by Sophie Saglio and published by KIEP. This book was released on 2005 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Dominant Currency Pricing by : Minkyu Son
Download or read book Dominant Currency Pricing written by Minkyu Son and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: English Abstract: Using product-level data for Korean exports from 2000 to 2021, this paper examines the determinants of invoicing currency in international trade. We obtain robust evidence of the two underlying motives in export currency choice. First is strategic complementarities. Korean exports tend to be invoiced in a currency that is predominantly used by competitors in the market. Second is real hedging. Industries that rely on imported inputs denominated in a certain currency are more likely to invoice their exports in the currency of importing. These two channels would serve to maintain the Dominant Currency Pricing (DCP), in which just few currencies such as the US dollar play an outsized role in global trade. To further document the role of these two motives, we conduct a novel event study on the establishment of a direct foreign exchange market for the Korean won and the Chinese renminbi in 2014. The direct foreign exchange market stimulated renminbi invoicing among Korean exports, particularly more to destinations with high market shares of Chinese exporters, and more from Korean industries relying on renminbi-denominated imported inputs. Finally, as a key implication of invoicing currency, we confirm its close link with the degree of exchange rate pass-through. The destination prices of Korean exports are more sensitive to the dollar-destination currency exchange rate than the exchange rate between trading partners, due to its high reliance on dollars in export invoicing.
Book Synopsis Korea's Recent Foreign Exchange Rate Systems by : Jin Chun Kim
Download or read book Korea's Recent Foreign Exchange Rate Systems written by Jin Chun Kim and published by . This book was released on 1992 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Foreign Trade Regimes and Economic Development by : Charles Raphael Frank
Download or read book Foreign Trade Regimes and Economic Development written by Charles Raphael Frank and published by . This book was released on 1974 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Foreign Economic Trends and Their Implications for the United States by :
Download or read book Foreign Economic Trends and Their Implications for the United States written by and published by . This book was released on 1982 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Korean Economies by : Ŭi-gak Hwang
Download or read book The Korean Economies written by Ŭi-gak Hwang and published by Oxford University Press, USA. This book was released on 1993 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hwang analyses the Koreas' traditional interdependence and the economic consequences of the fratricidal war, giving a comparison of the two economies in terms of both the macroeconomic index and of living standards.
Book Synopsis The Developmental Role of the Foreign Sector and Aid by : Anne O. Krueger
Download or read book The Developmental Role of the Foreign Sector and Aid written by Anne O. Krueger and published by Harvard Univ Asia Center. This book was released on 1979 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is one of the studies on the economic and social modernization of Korea undertaken jointly by the Harvard Institute for International Development and the Korea Development Institute.