Economic Policy Uncertainty and Korean Economy

• 발행기관: 한국유통과학회
• 저자명: Ji Hong Jeon Hyun Ho Lee Chang Min Lee
• 간행물 정보: 『유통과학연구(JDS)』제15권 제12호, 41~51쪽, 전체 11쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2017.12.30

영문 초록

Purpose - This study proposes the impact of the US and Korean economic policy uncertainty on macroeconomy, and its effect on Korea. The economic policy uncertainty index of the US and Korea is used to represent the economic policy uncertainty on Korean economy. Research design, data, and methodology – In this paper, we collect the eight variables to find out the interrelationship among the US and Korean economic policy uncertainty index of the US and macroeconomic indicators during 1990 to 2016, and use Vector Error Correction Model. Result – The distribution industry stock index in Korea is influenced by the economic policy uncertainty index of the US rather than of Korea. All variables are related negatively to the economic policy uncertainty index of the US and Korea from Vector Error Correction Model. This study shows that the economic policy uncertainty index of the US and Korea has the dynamic relationships on the Korean economy. Conclusions – A higher economic policy uncertainty shows a greater economy recession of a country. Finally, the economic policy uncertainty of the Korea has an intensive impact on Korea economy. Particularly, the economic policy uncertainty of the US has a strong impact on distribution industry stock market in Korea.

목차

1. Introduction

2. Theoretical Background and Literature Review

3. Research Design

4. Empirical Results

5. Conclusions

References

키워드

Distribution Industry Stock EPU CPI IPI PPI