DOI QR코드

DOI QR Code

한국의 대인도 FDI와 수출의 상관관계 연구

A Study on the Relationship between FDI Outflows and Export from Korea to India

  • 김신주 (한국외국어대학교 BRICs전공)
  • Shin-Jou Kim (BRICs Major, Hankuk University of Foreign Studies)
  • 투고 : 2022.11.29
  • 심사 : 2022.12.30
  • 발행 : 2022.12.30

초록

Since the economic reform 1991, Indian has been implementing policies to promote trade and foreign direct investment (FDI). In particular, since the inauguration of the Modi government in 2014, India has created an economic environment in which more FDI can be launched and more jobs created in manufacturing sector. This study aims to analyze between FDI outflows and export from Korea to India. Using the quarter data from 2000 to 2021, this study examines panel regression. From the panel regression result, Korea's FDI outflows to India has a significantly positive impact on the Korea's export into India. Therefore, the relationship between FDI outflows and export from Korea to India is complementary. It is due that Korea's companies invest into India directly for the purpose of construction of production factors, and export capital goods and intermediate goods for producing in the factors. Therefore, for promoting FDI and export between Korea and India, Korean government should do continuous economic cooperation and discussion for the cooperation with Indian government.

키워드

참고문헌

  1. AIF (2022), Post COVID-19, India FDI in 2021 and Prospect of 2022. Available from https://csf.kiep.go.kr/aif/businessDetail.es?brdctsNo=330594&mid=a30400000000&search_option=&search_keyword=&search_year=&search_month=&search_tagkeyword=&systemcode=02&search_region=&search_area=¤tPage=1&pageCnt=10
  2. Brainard, S. L. (1997), "An Empirical Assessment of the Proximity-contentration Trade-off between Multinational Sales and Trade", American Economic Review, 87, 520-544.
  3. Export-Import Bank of Korea (2022), Statistics of Foreign Direct Investment. Available from https://stats.koreaexim.go.kr/main.do
  4. Hadri, K. (2000), "Testing for Stationarity in Heterogeneous Panel Data", The Econometric Journal, 3(2), 148-161. https://doi.org/10.1111/1368-423X.00043
  5. Hejazi, W. and A. E. Safarian (2001), "The Complementarity between US Foreign Direct Investment Stock and Trade", Atlantic Economic Journal, 29, 420-427. https://doi.org/10.1007/BF02299331
  6. Helpman, E. (1984), "A Simple Theory of International Trade with Multinational Corporations", Journal of Political Economy, 92(3), 451-471. https://doi.org/10.1086/261236
  7. Helpman, E. and P. Krugman (1985), Market Structure and Foreign Strade: Increasing Returns, Imprfect Competition, and the International Economy, MIT: MIT Press.
  8. Helpman, E., M. J. Melitz and S. R. Yeaple (2004), "Export versus FDI with heterogeneous firms", American Economic Review, 94(1), 300-316.
  9. Im, K. S., M. H. Pesaran and Y. Shin (IPS) (2003), "Testing for Unit Roots in Heterogeneous Panels", Journal of Econometrics, 115, 53-74. https://doi.org/10.1016/S0304-4076(03)00092-7
  10. In, Min-Sick and Choi Pil-Sun (2010), STATA: Panel Data Analysis, Seoul: Korea STATA Association.
  11. Institute for International Trade (2019), Trade Focus, 45, Seoul
  12. Kim, Chang-Bong, Kyong-Chol Yo, Chang-Bum Choi and Sang-An Park (2017), "The Effects of Outward Foreign Direct Investment on International Trade Between Korea and India", The Journal of Korea Research Society for Customs, 18(3), 195-210.
  13. Kim, Shin-Jou (2017), " An Analysis of the Effect of Real Exchange Rate and Exchange Rate Volatility on Indian Export with Gravity Model", Journal of International Trade and Commerce, 13(1), 309-329.
  14. Kim, Shin-Jou (2018), "Does Trade Openness Benefit FDI Inflows into India?: Time-series Analysis on Five Major Indian FDI Sectors", Journal of International Trade and Commerce, 14(5), 101-114.
  15. Korea Customs Service (2022), Trade Statistics. Available from https://unipass.customs.go.kr/ets/index.do
  16. KOTRA (2021), "Product Linked Incentive (PLI) Current Status of Indian Government", Overseas Market News. Available from https://www.kita.net/cmmrcInfo/cmmrcNews/overseasMrktNews/overseasMrktNewsDetail.do?pageIndex=1&type=0&nIndex=1808101
  17. Le, N. K. and Y. J. Ro (2020), "The Analysis of the effect of FDI to Export- from the Case of Vietnam", Korea Trade Review, 45(4), 95-105. https://doi.org/10.22659/KTRA.2020.45.4.9
  18. Lee, K. S. (2022), "Economic Ties, Cooperation Grow Rapidly Between Korea, India", The Korean Post, 35(5). Available from https://www.koreapost.com/news/articleView.html?idxno=27961
  19. Lee, Soon-Cheul (2017), "The Analysis on the FDI Effects on Trade Relationship between Korea and India Using Sector-wise Panel Data", Journal of South Asian Studies, 23(1), 27-56. https://doi.org/10.21587/JSAS.2017.23.1.002
  20. Lee, Soon-Cheul and Jong-Hyup Shin (2020), "Granger Causality Analysis between India FDI and Major FDI in Korea", Journal of South Asian Studies, 26(3), 35-62. https://doi.org/10.21587/JSAS.2020.26.3.002
  21. Levin, A., C. F. Lin and C. Chu (LLC) (2002), "Unit Root Test in Panel Sata: Asymtotic and Finite-sample Properties", Journal of Econometrics, 108, 1-24. https://doi.org/10.1016/S0304-4076(01)00098-7
  22. Markusen, J. R. (1984), "Multinationals, Multi-plant Economies, and the Gains from Trade", Journal of International Economics, 16(3-4), 205-226.
  23. Mundell, R. (1957), "International Trade and Factor Mobility", American Economic Review, 47, 312-335.
  24. Rehman, F. U. and Y. Ding (2020), " The Nexus between Outward Foreign Direct Investment and Export Sophistication: New Evidence from China", Applied Economics Letters, 27(5), 357-365. https://doi.org/10.1080/13504851.2019.1616056
  25. Sahoo, P. and R. D. Dash (2022), "Does FDI have Differential impacts on Exports? Evidence from Developing Countries", International Economics, 172, 227-237. https://doi.org/10.1016/j.inteco.2022.10.002
  26. Shim, Jae-Hee (2011), "A Study on Development Plan for Korea's Auto Industry through Export Performance Analysis of 6 Countries in Indian Auto Market", Journal of Industrial Economics and Business, 25(1), 777-800.