Analysis on the Relationship between Exchange Rates and Exports: The Case of Korea
Oh, Soo Hyun | August 2016
As of recent, the United States has been making an issue of currency manipulation against its trading partners, especially in the case of Japan, China, and Korea with which the current account deficit of the United States has been increasing. In this context, the United States Congress has been putting more pressure on these countries. In February, the Bennet-Hatch-Carper (B-H-C) amendment was signed into law, with the aim of penalizing trading partners that gain benefits through currency manipulation. This issue was also raised in the TPP Joint Declaration last year, in a move to strengthen cooperation on macroeconomic policy and promote transparent exchange rate regimes that allow real exchange rates to adjust to reflect underlying economic fundamentals. TPP countries agreed to refrain from competitive devaluation and publicly disclose monthly foreign exchange reserves data as well as quarterly intervention in foreign exchange markets.
CitationOh, Soo Hyun. 2016. Analysis on the Relationship between Exchange Rates and Exports: The Case of Korea. © Korea Institute for International Economic Policy. http://hdl.handle.net/11540/10547.
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