
글로벌 불확실성이 한국의 자본 유출입에 미치는 영향 분석
The Impacts of Global Uncertainty on the Capital Flows in Korea
- 박의환(Eui-Hwan Park)
- 강원대학교 경영경제연구소
- 아태비즈니스연구
- 제12권 제1호
- 등재여부 : KCI등재
- 2021.03
- 183 - 193 (11 pages)
Purpose - The purpose of this study is to examine the impacts of global uncertainty on gross and net capital flows in Korea. Design/methodology/approach We conduct an empirical analysis of the impact of global uncertainty on the net and gross capital flows in korea. To investigate the impacts, we incorporate linear and nonlinear ARDL models. Findings We find global uncertainty has negative impacts on the gross and net capital flows. But this impact is nonlinear. The negative global uncertainty shocks are bigger than the positive global uncertainty shocks on capital flows in Korea. And we find this relationship is noticeable in gross capital inflows. We also find interest rate difference between the US and Korea is the main driving source in capital flow after the Global financial crisis. Research implications or Originality The results of this study suggest that the negative impacts of global uncertainty are noticeable. This means that economic players in financial markets should be more concerned about the bad news.
Ⅰ. 서론
Ⅱ. 선행연구
Ⅲ. 활용 데이터 및 방법론
Ⅳ. 실증분석 결과
Ⅴ. 결론