Changes in Global Value Chains and Factor Decomposition Analysis of GDP Changes in Korean Industries Based on Brexit Scenarios (in Korean)

Tae-jin Kim (), Jungu Kang () and Seung-jin Shim ()
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Tae-jin Kim: School of Economics & Trade, Kyungpook National University
Jungu Kang: Principal Researcher, Dept. of International Trade, Korea Institute for International Economic Policy (KIEP)
Seung-jin Shim: School of Economics & Trade, Kyungpook National University

Economic Analysis (Quarterly), 2017, vol. 23, issue 4, 106-139

Abstract: The purpose of this study is to analyze the impact of Brexit on Korea's industrial economy. When the UK leaves the European Union (EU), we consider two highly realizable Brexit scenarios that can influence changes in Korea's commodity trade policy. We use the latest World Input-Output Table (WIOT) in the World Input-Output Database to investigate the economic effects of each Brexit scenario on Korea's industrial economy. Notably, unlike previous studies, we analyze changes in global value chains of Korean industries and conduct the factor decomposition analysis of changes in GDP by industry after Brexit. Based on the empirical results, we discuss meaningful implications for changes in Korea's commodity trade policy for each of Brexit's scenarios.

Keywords: Brexit; Global value chains; Factor decomposition analysis; International input-output analysis (search for similar items in EconPapers)
JEL-codes: F10 F13 F14 F15 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:bok:journl:v:23:y:2017:i:4:p:106-139

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