The Effect of Exchange Rate Volatility on International Trade: The Implication for Production Networks in East Asia

This paper is an empirical investigation of the relationship between exchange rate volatility and international trade, focusing on East Asia. It finds that intra-East Asian trade is discouraged by exchange rate volatility more seriously than trade in other regions because intermediate goods trade in production networks, which is quite sensitive to exchange rate volatility compared with other types of trade, occupies a significant fraction of trade. In addition, this negative effect of volatility is mainly induced by the unanticipated volatility and has an even greater impact than that of tariffs.

Re-examining "difference" and "development" : a note on broadening the field of gender and development in Japan

It is the author’s position that the framework for WID/GAD, as academic field and practice concerned primarily with developing countries should be broadened so as to incorporate Japan’s own gender and development issues in its scope. Unlike other developed countries, activists and scholars in Japan rarely connected, as was also the case with the fields of women’s/gender studies and WID/GAD. However, this was not due to any lack of interest among Japanese women regarding the lives of women in developing countries. Rather the points of fissure were the notions of ‘difference’ and ‘development’ held by Japanese women. These analytical concepts were narrowly defined, which resulted in limited interaction between discourse on women’s issues in Japan and WID/GAD related to ‘other’ women. By re-examining these notions and looking more deeply into perceived differences in the local context of ‘development’, not only can we strategize on ‘differences’ in such a way that we draw strength from the very fact of being different, but also prevent ‘differences’ from being used as grounds for discrimination. As a whole, we could gain substantially by broadening the field of Gender and Development and, as such, it is imperative that this field be broadened with urgency as development itself changes in this ever-interconnected world

FTA in international finance : impacts of exchange rates on FTA utilization

This paper investigates how exchange rates affect the utilization of a free trade agreement (FTA) scheme in trading. Changes in exchange rates affect FTA utilization by two ways. The first way is by changing the excess profits gained by utilizing the FTA scheme, and the second way is by promoting the compliance of rules of origin. Our theoretical models predict that the depreciation of exporters' currency against that of importers enhances the likelihood of FTA utilization through those two channels. Furthermore, our empirical analysis, which is based on rich tariff-line-level data on the utilization of FTA schemes in Korea's imports from ASEAN countries, supports the theoretical prediction. We also show that the effects are smaller for more differentiated products.