패널 VAR를 이용한 부가가치 기준 무역과 경제성장과의 인과관계 분석 = A Study on Causal Relationship between Trade in Value-Added and Economic Growth Using Panel-VAR

다국어 초록 (Multilingual Abstract)

Recently the production processes from material procurement to marketing have been split up into many stages and the value added from the production was divided among various countries. Therefore, we need to approach the international trade in terms of value added rather than gross value. So following Stephrer(2012)``s methodology, this paper firstly measures Trade in Value added database using World Input-Output “ ” Tables(WIOT). We also examines the causal relationship between economic growth(a gross value of domestic production) and export of trade in value added using panel VAR model. Our test supports the export-led growth hypothesis when we test causal relationship between export of gross trade and economic growth. However almost all results represent that there are two-way causalities between export of trade in value-added and economic growth.

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