중국의 수출변화가 한국의 부품수출에 미치는 효과

The effect of China's export on Korea's Export of the Intermediate goods

This paper analyzes the effect of China's export on Korea's export of the intermediate goods using bilateral trade data for the period of 1992-2008. The data shows that trade of intermediate goods has increased more rapidly than that of final goods in China, and that imports are larger than exports in China's intermediate goods trade. However, China's importing share of intermediate goods from advanced countries like US and Japan has decreased, but the importing share from Korea has increased. Moreover, Korea's export share to China in intermediate goods is 30.0% in 2008, which is the highest among Korea's trading partners. This implies that there is international production fragmentation between Korea and China, that China imports Korea's intermediate goods and produces and exports final goods by assembling the imported intermediate goods. The regression results show that changes of China's exports to other countries affect Korea's exports of intermediate goods to China. In particular, China's exports to the US and Japan has more significant effect on Korea's intermediate goods export to China. This study gives us an important policy implication that China's economy fluctuation due to the environmental change of world economy will also affect Korea's exports and the Korean economy.