유럽연합에 대한 한국과 미국의 수출경쟁 대체 탄력성 분석을 중심으로
Export Competition between Korea and the U.S. in the European Union - The elasticity of substitution analysis
1
조회
0
다운로드
2
인용
0
참고문헌
키워드
초록
This paper attempts to explain the export competition between Korea and the U.S. in the European Union market. The degree of competition is measured by estimating for elasticity of substitution using a refined simple demand model. The experiment has been conducted at industry level of HS 2-digit for 15 major export industries of Korea and the U.S. into the European market. The monthly time series data cover the period from 1999:1 to 2013:3. The empirical findings show that although the market share of the U.S. product in the EU market is higher than the share of Korea commodity, Korea has higher competitiveness in exports against those of the U.S. in the EU market in four industries: HS27 (mineral fuels), HS72 (iron and steel), HS89 (ships and boats) and HS90 (optical products). In addition, the degree of export competition in each industry is examined at disaggregate level (HS 4-digit) using the Rivalry Threat Index. The results at HS-4 digit support the empirical outcomes of HS-2 digit experiments. The findings of this article provide the policy implication that Korea should emphasize and support the exports of those four industries in order to compete with the exports from the U.S. in the EU market after the enforcement of the Transatlantic Trade and Investment Partnership (The EU-US Free Trade Agreement) in the near future.
Abstract
This paper attempts to explain the export competition between Korea and the U.S. in the European Union market. The degree of competition is measured by estimating for elasticity of substitution using a refined simple demand model. The experiment has been conducted at industry level of HS 2-digit for 15 major export industries of Korea and the U.S. into the European market. The monthly time series data cover the period from 1999:1 to 2013:3. The empirical findings show that although the market share of the U.S. product in the EU market is higher than the share of Korea commodity, Korea has higher competitiveness in exports against those of the U.S. in the EU market in four industries: HS27 (mineral fuels), HS72 (iron and steel), HS89 (ships and boats) and HS90 (optical products). In addition, the degree of export competition in each industry is examined at disaggregate level (HS 4-digit) using the Rivalry Threat Index. The results at HS-4 digit support the empirical outcomes of HS-2 digit experiments. The findings of this article provide the policy implication that Korea should emphasize and support the exports of those four industries in order to compete with the exports from the U.S. in the EU market after the enforcement of the Transatlantic Trade and Investment Partnership (The EU-US Free Trade Agreement) in the near future.
참고문헌 (17)
- Is the World Spinning Faster? Assessing the Dynamics of Export Specialization, "Amador, J.", Banco de Portugal, ~, pp.Working paper no.12 (2011)
- Armington, P. S., "A Theory of Demand for Products Distinguished by Place of Production", International Monetary Fund Staff Papers, 16(1) (1969)
- Brakman, S., "On the Elasticity of Substitution in International Trade", De Economist, 138 (1990)
- Doanh, N. K., "The Dynamic Patterns of Korea’s Export specialization", IIAS Research Series, 11 (2012), Institute of International and Area Studies, Sogang University
- Fung, K. C., "Japanese and US Trade with China : A Comparative Analysis", Review of Development Economics, 2(2) (1998)
- Harberger, A. C., "Some Evidence on the International Price Mechanism", The Journal of Political Economy, 65(6) (1957)
- Jenkins, R., "Measuring the Competitive Threat from China for other Southern Exporters", The World Economy, 31(10) (2008)
- Kang, S. J., "Korea’s Export Performance"Three Empirical Essays", 박사, pp.2008
- Kim, K. H., "Analysis of Industrial Competitiveness and Trade Effects between South Korea and India", Conference proceeding paper (2011), Asia-Pacific Economic Association
- Kreinin, M., "Measure of Export Similarity and its possible uses", Economic Journal, 89 (1979)
- Leontief, W., "Composite commodities and the problem of index numbers", Econometrica, 4(1) (1936)
- Merkies, A. H. Q. M., "A Theoretical Foundation for Constant Market Share Analysis", empec, 13 (1988)
- Market shares in the post-Uruguay Round Era : A Closer Look Using Shift-Share Analysis, "Piezas-Jerbi, N.", World Trade Organization, ~, pp.Staff Working Paper ERSD-2009-14 D (2009)
- Richardson, J. D., "On Improving the Estimate of the Export Elasticity of Substitution", The Canadian Journal of Economic, 5(3) (1972)
- Strange, R., "The European Union and ASEAN : trade and investment issues" (2000), Macmillan
- Tinbergen, J., "Some Measurements of Elasticities of Substitution", The Review of Economics and Statistics, XXVIII (1956)
- 우타이 우프라센, "The EU-Korea FTA in the Viewpoints of the New Member States", 국제지역연구, 15(1), pp.3~30 (2011), 국제지역학회