(The) Impact of the Currency Influence on the International Trade Status from the Perspective of Network|RISS 상세보기

다국어 초록 (Multilingual Abstract)

Abstract

Impact of the currency and the international trade status are both hot issues in foreign finance and trade sectors. If some country enjoys a stronger impact in its currency, it will imply that it owns a higher level of currency internationalization, its currency issuing will be more easily accepted, and it’ll be more likely to serve as a tool for paying and winding up an account in international trade, which helps to improve the development of international trade departments. However, international trade status means whether a country is able to voice in global trade. It’ll voice more, be more proactive and take up better place when it enjoys a higher international trade status. Consequently, impact of currency and international trade status are closely intertwined all the time. Generally speaking, a stronger currency influence of one country shows its faster development in economy, international military and finance, and subsequently, the country can take up better resources and trade status in international trade. Since the 21st century, the economic globalization are being deepened, scientific technologies are going forward, and international trade are getting more frequent, which comes to a pillar power to pushing industry level-up, economic development and society progress. As a result, the rising of international trade status is to be resolved. Some scholars have studied into the impact of currency influence on exchange rates, the influence of the rates on international trade status and the influence of international trade status on trade, but less scholars have chosen to research the the impact of currency influence on international trade status. Besides, the global transactions and finance are getting closer, the social network analysis, which is able to provide a generally strategic angle will function a lot in studying the above field.
Based on this, the paper discussed the currency influence on international trade status. First of all, it introduces the research background, purpose, research methods and framework of this paper, then defines the concept and theoretical analysis of the currency influence and international trade status from the perspective of network, and summarizes the existing research literature. Then it made an analysis of its relativity and adaptability. Next, as the G20 are made up of the most representative developed countries and emerging developing countries, the paper used the G20 countries as empirical examples to study currency influence on international trade status under a network angle. Specifically speaking, the paper used the data of exchange rates and trade of G20 countries from 1999 to 2020, and quantified the currency influence on international trade status of different G20 countries after the network of exchange rate spillovers and the network of trade linkages were constructed based on exchange rate spillover effect and bilateral trade quota. Subsequently, this paper constructed an empirical model of the impact of currency influence on international trade status from the perspective of network by adding control variables such as net foreign direct investment, labor force, and economic openness, and analyzes the impact of currency influence on international trade status. It’s empirical that from the perspective of network, the impact of the currency influence on the international trade status shall be positive. In order to verify the scientific nature of the empirical model and the correctness of the theoretical mechanism, as for the self characters of G20 samples, the paper made a heterogeneity test and analysis, and it results show: (1) under the empirical researches based on G20 samples, the currency influence on international trade status has its heterogeneity exchange rate system. Although currency influence on international trade status is positive, the currency influence on international trade status of G20 countries are negative when the exchange rates are fully floating. (2) since G20 countries differentiate in their economic development, the currency influence on international trade status are of less obvious differences. The paper conducted series of robustness tests by removing the extreme value and years from the empirical results, and it found that after the tests, the impact of the currency influence on the international trade status will be positive as well. Meanwhile, the FDI, R&D, TAX AND INCOME also have a positive influence on the international trade status while LABOR and Tariff have a negative one. OPENNESS and INFLATION definitely have no obvious impact on it. Consequently, this shows the empirical results are robust and reliable.

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목차 (Table of Contents)

Contents
Ⅰ. Introduction 1
1.1 Research Background 1
1.2 Research Objectives 4

Contents
Ⅰ. Introduction 1
1.1 Research Background 1
1.2 Research Objectives 4
1.3 Research Methods 5
1.4 Research Innovations 7
1.5 Research Structures 8
Ⅱ. Theoretical Backgrounds 10
2.1 Theories Related to the Currency Influence 10
2.2 Theories Related to the International Trade Status 16
2.3 Social Network Analysis 20
2.4 Advance Research 24
2.4.1 The Currency Influence 25
2.4.2 The Exchange Rate Spillover Network 29
2.4.3 The International Trade Status 33
2.4.4 The Trade Related Network 34
2.4.5 The Currency Influence on the International Trade Status 36
III. Empirical Model and Data 39
3.1 Models 39
3.1.1 Exchange Rate Spillover Network Model 39
3.1.2 Trade Related Network Model 45
3.1.3 Empirical Model 49
3.2 Data Selection 58
3.3 Methodologies 63
IV. Empirical Results 69
4.1 Result Analysis 69
4.2 Heterogeneity Test Analysis 79
4.2.1 Heterogeneity Analysis of Exchange Rate System 80
4.2.2 Heterogeneity Analysis of Economic Development 83
4.2.3 Heterogeneity Analysis of the Disordered Trade 86
4.3 Robustness Inspections 89
4.3.1 Elimination of Extreme Values 90
4.3.2 Shortening Years 92
4.4 Research Findings 94
V. Conclusion 97
5.1 Summary of the Research 97
5.2 Implications 100
5.2.1 Theoretical Implication 100
5.2.2 Practical Implication 101
5.3 Research Limitations and Directions 104
5.3.1 Research Limitations 104
5.3.2 Research Directions 104
Reference 106
국문초록 123

참고문헌 (Reference)

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