False Alarm : Evaluating Spillover from the Yen's Depreciation on the Korean Export Industry
- 주제(키워드) International Commerce
- 발행기관 고려대학교 국제대학원
- 지도교수 강문성
- 발행년도 2014
- 학위수여년월 2014. 8
- 학위구분 석사
- 학과 국제대학원 국제학과
- 세부전공 국제통상학
- 원문페이지 61 p
- 실제URI http://www.dcollection.net/handler/korea/000000052925
- 본문언어 영어
- 제출원본 000045808732
초록/요약
Over a year has passed since the dawn of “Abenomics,” and hope among investors and the Japanese public is dimming that the weakened yen will hoist Japan’s economy out of decades of stagnancy and deflation. Japan’s rivals on the global export stage have always been less than enthusiastic about the yen’s 22 percent depreciation against the dollar—for many months, worries were that the yen’s devaluation would unfairly strike at the heart of their price-competitiveness (Bank of Japan 2014). In South Korea, these fears were particularly pronounced: the export structure of both South Korea and Japan are similar and a depreciated yen is widely believed among Koreans to portent grave results for the Korean economy1. Lost in the much of the “currency war” accusation discourse is the fact that the yen’s depreciation has yet to provide any benefits to the Japanese export industry. Outside of Japan, too, the depreciated yen’s impact has been far less stated than predicted, even for South Korea. As such, the goal of this paper is twofold: to determine what effects if any the yen’s depreciation has had on the Korean export industry, and to provide an explanatory framework that accounts for such consequences or lack thereof
more목차
Introduction 1
Literature Review 6
The Historical Impact of the Yen and Won rates on South Korean
Exports 11
South Korea’s Export Performance, 2013-2014 16
Explanations 26
Is the BOJ’s Quantitative Easing Unfair? 36
The State of Japanese Exports 40
Conclusion 49
Bibliography 53
