Exchange rates and South Korean exports to OECD countries

O'Neill, Heather M.; Ross, William N.

doi:10.1080/00036849100000161

Cited by 6 publications

(5 citation statements)

References 3 publications

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“…Rose (1990) finds that a depreciation of the real exchange rate "is not strongly associated with a significant improvement in the trade balance" for 30 developing countries. The role of the exchange rate in determining the trade performance of Taiwan and Korea has been studied by Arize and Spalding (1991), Hickok and Kligaard (1988), Moreno (1989), andO'Neill andRoss (1991). None of these studies, however, has attempted to systematically verify the existence of a J-curve effect.…”

Section: Resultsmentioning

confidence: 99%

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Does a J-curve exist for Korea and Taiwan?

Hsing¹,

Savvides

1996

Open Econ Rev

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This article examines whether the trade balance of two dynamic export-oriented economies, Korea and Taiwan, exhibits a J-curve effect. The article studies both their bilateral and aggregate trade balance during the flexible exchange-rate era. When the exchange-rate coefficients are unconstrained, we demonstrate that no J-curve effect exists either for bilateral or aggregate trade balances. Several robustness checks confirm the validity of our findings. When a polynomial-distribute lag structure is imposed on exchange-rate coefficients, a J-curve is evident in some cases. The article discusses possible explanations for the general lack of evidence in favor of a J-curve, including the response of a small country's trade balance to exchange-rate changes. Copyright Kluwer Academic Publishers 1996trade balance, Korea, Taiwan, J-curve,

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Section: Resultsmentioning

confidence: 99%

“…24. Examples of previous studies that use levels instead of differences include Krugman and Baldwin (1987), Helkie and Hooper (1987), Noland (1989), andO'Neill andRoss (1991). 25.…”

Section: Resultsmentioning

confidence: 99%

Does a J-curve exist for Korea and Taiwan?

Hsing¹,

Savvides

1996

Open Econ Rev

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“…Several methods have been used to estimate price and income elasticities of export and import demand. Studies done by Bond (1985), Cline (1984), Goldstein & Khan (1982), Muscatelli (1994Muscatelli ( , 1995a, Marquez andMcNeilly (1988), andO'Neill andRoss (1991) have supported the conventional view, which states that the price elasticities of demand for newly industrialised countries' (NICs) exports are small. However, the world income elasticity of demand for the NIC's exports is significant and, high.…”

Section: Literature Reviewmentioning

confidence: 99%

A Cointegration Analysis on Trade Behaviour in Selected ASEAN Countries Using Dynamic OLS and Johansen Maximum Likelihood Approaches

Bakar

2020

Malaysian Management Journal

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This paper aims to analyse the trade behaviour of four selected ASEAN countries (based on their export/import products) by using a co-integration analysis. The demand for exports and imports are estimated for the period before the currency crisis erupted ( 1963 -1995 ), using the dynamic OLS (DOLS) method. The Johansen Maximum Likelihood (JML) approach is also employed to compare the results obtained. The results show that foreign income has a significant impact on export demand, suggesting that foreign disturbance in the form of economic activities is likely to be transmitted to these countries. The Marshall Lerner conditions are easily met for the case of Malaysia and Thailand (DOLS and JML). For Indonesia and the Philippines, the sum of the price elasticities of exports and imports demands are less than unity, this can be explained by the J-curve, in which the currency depreciation will first worsen the trade balance before it improves and it takes time to affect the trade balance.

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“…Dynamic, or disequilibrium, versions of simultaneousequation export models have also been extensively examined. In the process there has been some debate regarding the appropriate specifica-18 Studies taking this approach include Bairam (1988), Marquez and McNeilly (1988) and O'Neill and Ross (1991). 19 Some studies have gone further by constructing models in which equations (6) and (7) are supplemented with equations encapsulating wage determination or demand and supply conditions in exporters' home market.…”

Section: Simultaneous-equation Modelsmentioning

confidence: 99%

“…Studies taking this approach includeBairam (1988),Marquez and McNeilly (1988) andO'Neill and Ross (1991).19 Some studies have gone further by constructing models in which equations(6)and (7) are supplemented with equations encapsulating wage determination or demand and supply conditions in exporters' home market. SeeAspe and Giavazzi (1982),Citrin (1985),Cima (1986),Riedel (1988) andMuscatelli (1991).20 It should be noted that domestic demand pressure (in its various forms) has not achieved universal acceptance Goldstein and Khan (1978),Lundborg (1981),Browne (1982),Bond (1987),Holly and Wade (1991).…”

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confidence: 99%

From Demand Equations to Two Regimes: The Theoretical Development of Export Models

King¹

1997

Bulletin of Econ Res

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Over the last fifty years or so, a great deal of attention has been paid to the estimation of time-series models of foreign trade flows -especially those relating to the volume of trade in imperfectly substitutable goods between one country and the rest of the world. In this time, the models employed have evolved from relatively simple demand equations through to more complex simultaneousequation and two-regime approaches. The aim of this paper is to survey the developments that have been made and suggest some directions for future research by highlighting the weaknesses of the approaches currently available.

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Exchange rates and South Korean exports to OECD countries

Cited by 6 publications

References 3 publications

Does a J-curve exist for Korea and Taiwan?

Does a J-curve exist for Korea and Taiwan?

A Cointegration Analysis on Trade Behaviour in Selected ASEAN Countries Using Dynamic OLS and Johansen Maximum Likelihood Approaches

From Demand Equations to Two Regimes: The Theoretical Development of Export Models

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