Korean Culture’s Impact on Sino-Korea Trade Deficit—— An Example of Culture’s Influence on Economics

部分内容如下：

Korean Culture’s Impact on Sino-Korea Trade Deficit
—— An Example of Culture’s I nfluence on Economics *
Xiaoning NI a† and Jiang YUAN b
aSchool of International Economics and Trade，
Beijing International Studies University，Beijing 100024,China.
E-mail: nixiaoning@bisu.edu.cn
bSchool of Economics, Renmin University of China, Beijing 100872, China
E-mail: yuanjiang@ruc.edu.cn
Abstract:
This paper examines Sino-Korean international trade from a cultural point of view. We
analyze the deep- layer factors of Korean culture and its carrier “Korean Wave”. And we
deduct that trade dynamics between Korea and China has been changed by the expanding
Korean culture. To testify it, this paper gives out an empirical analysis. The main methods
used are cluster analysis and regression analysis. Cluster analysis testifies the Korean Wave
as long term factor. Regression analysis utilizes a dummy variable to signify the culture
whose values are given by the results of cluster analysis. The empirical analysis shows that
Korean Wave drives up the trend of import more significantly than that of export and its main
power direction relies on the main direction of the culture spread. Thus, in theoretically and
empirically, we explain the reason why the balance is deficit to Korea but surplus to USA for
China international trade.
Keywords
Trade Structure, Cultural Economics, Korean Wave
 

1. Introduction
Since the Reform and Opening Up in 1978, China has created the greatest economic
miracle in the world. One of the most significant phenomenal performances is the expanding
international trade, especially the increasing trade surplus with its trade partners. It rose from
$-2010 million in 1979 to $177.46 billion in 2006, a rate of increase that is much larger than
what has been experienced elsewhere in the world. According to official statistics, China’s
surplus was mainly resulted from the great amount of export to developed countries and
regions, such as United State, United Kingdom, Hong Kong, Singapore, etc.