인삼 수출가격에 대한 주요 수출시장별 환율효과 분석

The Effects of Exchange Rates on the Export Prices in the Major Korean Ginseng Exporting Markets

This study investigates the export price responses to exchange rate movements in the major Korean Ginseng exporting markets. Three major exporting markets(U.S.A., Japan, Hongkong) to which six major Korean Ginseng products are exported were compared with each other by estimating exchange rate pass-through coefficients through Stock-Watson`s DOLS method. The estimated effects varied with the markets and with the products, and were relatively high compared to those estimated by other similar studies on manufactured products. In general symmetric effects of exchange rates on export prices between appreciation and depreciation periods were revealed, which is also quite different from the results of the studies on manufactured products reporting asymmetric effects in general.