How does currency depreciation affect an economy regarding financial and trade channels? = 환율의 하락이 재무 및 무역 채널을 통하여 국가 경제에 미치는 영향에 관한 실증 연구

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We delve into the impact of exchange rate depreciation on the change of economic growth rate through the new economic framework of classifying countries. The new method classifies countries into four types regarding their positions of the financial channel (the net foreign currency assets) and the trade channel (the global value chain). With empirical tests, we try to understand how the positions in two channels of economic activity play roles in determining countries' real economic growth under their macroeconomic states. Our results indicate that the balance sheet conditions and the location in the international trade network are crucial factors for a country to determine its economic growth rate in the pre-crisis period and during the crisis. However, we could not obtain the same evidence with data samples of the post-crisis period. Our results imply that an economic authority needs to set economic strategies concerning the balance of foreign currency denominated assets (or liabilities) not to lower the country's economic growth rate during the recession.
Advisors
Park, Sunyoungresearcher박선영researcher
Description
한국과학기술원 :산업및시스템공학과,
Publisher
한국과학기술원
Issue Date
2018
Identifier
325007
Language
eng
Description

학위논문(석사) - 한국과학기술원 : 산업및시스템공학과, 2018.2,[iii, 35 p. :]

Keywords

Exchange rate▼acurrency depreciation▼afinancial channel▼atrade channel▼aNet Foreign Currency Assets(NFCA)▼aGlobal Value Chain(GVC); 환율▼a통화 하락▼a경제성장률▼a재무 채널▼a무역 채널▼a순외화자산▼a글로벌 가치사슬

URI
http://hdl.handle.net/10203/266244
Link
http://library.kaist.ac.kr/search/detail/view.do?bibCtrlNo=733848&flag=dissertation
Appears in Collection
IE-Theses_Master(석사논문)
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