نرخ مبادله و استفاده از توافقنامه تجارت آزاد: تمرکز بر قوانین منشاء
|کد مقاله||سال انتشار||تعداد صفحات مقاله انگلیسی||ترجمه فارسی|
|106413||2017||51 صفحه PDF||سفارش دهید|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Journal of International Money and Finance, Volume 75, July 2017, Pages 93-108
Tariff rates under a free trade agreement (FTA) are not necessarily used in the majority of trade, even among members of an FTA. One of the causes of this phenomenon is the presence of rules of origin (RoOs), which require exporters to comply with specific conditions when utilizing an FTA scheme. To consider how RoOs should be designed so that exporters can more robustly use an FTA scheme, this paper investigates the effect of exchange rates on FTA scheme utilization with a focus on RoOs. Exchange rates affect exportersâ compliance with RoOs by changing the so-called value-added ratio, which is defined as [1â(Price of imported inputs from non-FTA member countries/Export product price)]. Based on a model of pricing-to-market, we propose that an unexpected depreciation of exportersâ currency against importersâ currency improves the value-added ratio through a rise in the export productâs price, which in turn enhances exportersâ utilization of an FTA scheme. We also show strong empirical support for the proposition using the detailed product-level data on FTA scheme utilization in Koreaâs imports from Association of South East Asian Nations (ASEAN) countries.