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The Exchange Rate Pass-Through to Export Prices of Final Products: The Role of Imported Intermediates

dc.contributor.authorUn Jung Whang
dc.description.abstractIn a world of vertical production structure, characterized by the fragmentation of production across economies, trade economists emphasize the role of trade in intermediate goods when determining the patterns of international trade. In fact, the share of foreign content embedded in Korea's exports (that is, a backward participation of global value chains) is 41.7%, the highest share of foreign content of exports in 2011 among G20 and OECD economies, and a near two-fold increase over the last two decades. In particular, the share of foreign value added in manufactured exports is close to 47%. The high share of foreign value added in Korea's exports indicates that the reliance of imported intermediate inputs to product goods and services is relatively high compared to other developed countries.
dc.publisherKorea Institute for International Economic Policy
dc.titleThe Exchange Rate Pass-Through to Export Prices of Final Products: The Role of Imported Intermediates
dc.subject.expertFree Trade
dc.subject.expertTrade Facilitation
dc.subject.expertEconomic integration
dc.subject.expertRegional Economic Integration
dc.subject.expertIntraregional Trade
dc.subject.expertMacroeconomic Analysis
dc.subject.expertMacroeconomic Framework
dc.subject.expertMacroeconomic Models
dc.subject.expertMacroeconomic Performance
dc.subject.expertMacroeconomic Planning
dc.subject.expertMacroeconomic Policies
dc.subject.expertMacroeconomic Reform
dc.subject.expertMacroeconomic Stabilization
dc.subject.adbEconomic planning
dc.subject.adbEconomic structure
dc.subject.adbGrowth policy
dc.subject.adbTrade relations
dc.subject.adbTrade policy
dc.subject.adbEconomic development
dc.subject.adbEconomies in transition
dc.subject.adbInternational economy
dc.subject.adbBorder integration
dc.subject.adbEconomic integration
dc.subject.adbGross domestic product
dc.subject.adbTrade Regulations
dc.subject.adbExchange Rate
dc.subject.adbEconomic zones
dc.subject.naturalRegional economics
dc.subject.naturalEconomic forecasting
dc.subject.naturalEconomic development projects
dc.subject.naturalSuccess in business
dc.subject.naturalFree trade
dc.subject.naturalCommunication in economic development
dc.subject.naturalRestraint of trade
dc.subject.naturalInternational economic integration
dc.subject.naturalTrade blocs
dc.subject.naturalExchange rates
dc.subject.naturalEconomic Zones
dc.title.seriesKIEP Opinions
dc.title.volumeNo. 74
dc.contributor.imprintKorea Institute for International Economic Policy
oar.adminregionEast Asia Region
oar.countryRepublic of Korea
oar.authorWhang, Un Jung

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