PUBLISHED WORK
Global value chains and disasters, Economic Systems Research (Accepted) with Sunhyung Lee (Monclair State University)
We analyze the effects of disasters on the global value chain based on comprehensive data from 62 countries between 2007 and 2020. On average, a typical disaster reduces total exports by -1.48%, inter-mediate exports by -1.69%, forward linkage by -1.93%, and backward linkage by -1.77%. These decreases are driven mainly by natural disasters, of which climate-related disasters have the most substantial im-pact. In addition to the heterogeneity by disaster type, the intensity of a disaster and the income group of trading partners can differentiate the degree of supply chain disruptions. We discuss the policy im-plications for the global value chain, which can guide multinational corporations and policymakers in designing a more robust and resilient response to the observed rise in disasters.
WORKING PAPERS
Trade with Benefits: New Insights on Competition and Innovation, with Jaebin Ahn (IMF), Yi Huang (Fudan University)
This paper examines how Korea's import and export linkages with China affect the innovation outcomes of Korean manufacturing firms. Using our automated algorithm, we match Korean patent data with KIS-Value firm data from 1996 to 2015. We find that increasing imports from and exports to China lead to a rise in patent applications by Korean manufacturing firms, with this positive impact being particularly driven by large or public firms compared to SMEs or private firms. Most importantly, these results hold only in sectors with higher-quality products than those from China, shedding light on recent empirical studies that found conflicting evidence regarding Schumpeterian forces and competition avoidance.
Trade Facilitation does benefit SMEs (2016) with Roberta Piermartini (WTO)
This paper examines the impact of trade facilitation in developing countries and how this effect differs by firm size. Many firms in developing countries face long export times due to complicated export procedures, which impose significant barriers to trade. Trade facilitation measures reduce export time by addressing inefficiencies at the border. Therefore, we test the impact of trade facilitation on trade by analyzing the relationship between export time and export sales. Using World Bank enterprise data, we find that reducing export time at the border boosts the exports of firms. The results suggest that trade facilitation measures particularly benefit small- to medium-sized enterprises (SMEs) in developing countries.
Does Exchange Rate Volatility Affects Trade? Panel Analysis and Implications
This paper presents empirical evidence on how exchange rate volatility affects the flow of export trade. Estimating this relationship is complicated due to the endogeneity between exchange rate volatility and trade. To mitigate this issue, I introduce an instrumental variable into the estimation, which represents the direct anchor relationship between the currencies of trading partners. The evidence shows that exchange rate volatility is positively associated with export volume. Additional testing reveals that the impact of exchange rate shocks on trade differs by income group and the financial development of countries.
CONFERENCE PRESENTATIONS
Changes in the International Order and Global Supply Chain
- presented at the Korean Association of Space and Environment Research, Spring Academic Conference (2024)
Global Value Chain and COVID19: Lesson from International Economic Disaster
- presented at the Korean Association of Trade and Industry Studies Fall Academic Conference (2023)
Analysis of the Impact of External Shocks on Global Value Chains and Its Implications
- presented at the Korean Women Economists Association Fall Academic Conference (2023)
- presented at the Korean Academy of Development Policy Academic Seminar (2022)
Analysis of Value Chains in the New Southern Region and Its Implications
- presented at the Korean Association of Trade and Industry Studies Fall Academic Conference (2019)
CONFERENCE DISCUSSIONS
The Korean Association of Space and Environment Research Conference (2024), The Korea International Economic Association Winter International Conference (2023), Asian Economic Panel Meeting (2022), APEC Studies Association of Korea Academic Conference (2022)
REFEREE WORK
East Asian Economic Review (2025), Korean Economic Review (2024), East Asian Economic Review (2024), Journal of China Area Studies (2024), Korea Trade Review (2023), International Economic Journal (2023), Journal of International Area Studies (2020), Pacific Focus (2020), Journal of Indian and Asian Studies (2020), Journal of Indian and Asian Studies (2019), East Asian Economic Review (2019)