한국과 APEC 국가 간 해외직접투자와 포트폴리오투자의 무역효과 분석 = Trade Effects of Foreign Direct Investment and Portfolio Investment between Korea and APEC Countries

다국어 초록 (Multilingual Abstract)

The purpose of this study is to analyze the impact of foreign direct investment and portfolio investment on imports and exports between Korea and the APEC. The results of analysis are as follows: South Korea`s FDI in the manufacturing sector to APEC countries shows the characteristics of intermediate goods` procurement and has an increasing effect on exports for all industry sectors in South Korea. But export substitution effectiveness of South Korea`s FDI patterns was not observed in all industrial sectors. South Korea`s overseas direct investment for the APEC manufacturing sector has been analyzed as a positive impact on Korea`s goods balance, because the export inducement effect of foreign direct investment appears larger than the effect of re-importation. Further analysis of South Korea`s FDI and portfolio investment from APEC countries exhibits the effect of increasing both exports and imports from South Korea to APEC countries.

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