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Impacts of the currency value change on the forest products imporat qualities in Korea
Cited 10 time in
Web of Science
Cited 11 time in Scopus
- Authors
- Issue Date
- 2003
- Publisher
- Elsevier
- Citation
- Forest Policy and Economics, vol.5(3), pp. 317-324
- Keywords
- Forest products market ; Vector autoregressive model ; Causality test ; Variance decomposition analysis ; Impulse response analysis
- Abstract
- This study estimated the impacts of the currency value change on the forest products import quantities in Korea
using vector autoregressive model. The first objective is to analyze whether there is any causal relationship between
change in the currency value and changes in the import quantities of forest products in Korea. Assuming that there
is any causal relationship, the second objective is to evaluate the dynamics of the impacts of the currency value
change on the forest products import quantities in Korea. The causal relationship was analyzed by the causality test
of Granger. The relationship between the currency value and the import quantity was represented by vector
autoregressive model. And the dynamics were evaluated by variance decomposition analysis and impulse response
analysis. Change in the currency value causes change in the hardwood roundwood import quantity in Korea. In the
model of the hardwood roundwood import quantity, after 6 months, the currency value change accounts for
approximately 10% of variation in the import quantity. On the other hand, the impact of a shock to the currency
value is significant for approximately 10 months on the import quantity of hardwood roundwood in Korea.
- ISSN
- 1389-9341
- Language
- English
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