Correlation of Exchange Rate and Macroeconomic Variables: Empirical Study of Taiwan, South Korea, Indonesia, Philippines
| Autor: | Li-Yen Lu, 盧立晏 |
|---|---|
| Rok vydání: | 2019 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 107 In recent years, Taiwan government has implemented a southern policy and encouraged manufacturers to invest in Southeast Asian countries. When Taiwan investors enter the ASEAN market, apart from the political and economic factors of the local countries, we will also face competition from other countries such as South Korea. The Korean government has signed FTAs with most of Southeast Asian countries, which has greatly affected Taiwan''s trade competitiveness. This thesis takes Taiwan, South Korea, Indonesia, and Philippines as research objects. The research method includes cointegration test, vector error correction model, impulse response function, and variance decomposition. The results demonstrate that all macroeconomic variables of Taiwan, South Korea, Indonesia, and Philippines have cointegration relationship. When Rupiah depreciates, other economic variables keep up and down. Philippine Peso depreciation has a positive effect on output in short run. Korean Won depreciation has a negative effect on output and export in short run. New Taiwan Dollar depreciation has a negative effect on output in short run. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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