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A Study on the Effect of Financial Cooperation in East Asia on the Export-Import Logistics  

Kang, Bo-Kyung (부산대학교 무역학부)
Publication Information
Journal of Korea Port Economic Association / v.27, no.3, 2011 , pp. 161-177 More about this Journal
Abstract
Nowadays, a capital flow and intimacy of financial system among countries have been increasing in global financial environment. So it is easily possible that the risk of some countries which are in financial crisis infects other countries in the world. A recent global financial crisis reminds countries in East Asia of advancing the financial cooperation as well as financial integration. Countries in East Asia agreed with the Chiang Mai Initiative to prevent a recurrence of financial crisis in East Asia. A bilateral swap arrangement of the CMI has several purposes in order to offer foreign currency liquidity against economic crisis, remove the opportunity cost of foreign exchange reserve, push ahead the financial integration, increase the export-import logistics and so on. This paper analyzes the effect of financial cooperation in East Asia on the export-import logistics with random effect estimation and fixed effect estimation. As a result, each of country in East Asia is able to increase almost 10.3% of the export-import logistics on average.
Keywords
Financial Crisis; CMI; Swap Arrangement; Random Effect Estimation; Fixed Effect Estimation;
Citations & Related Records
Times Cited By KSCI : 3  (Citation Analysis)
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