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Shock Transmission Mechanism of the Economic Crisis in East Asia : An Application of International Input-Output Analysis

Author

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  • Kuroiwa, Ikuo
  • Kuwamori, Hiroshi

Abstract

This paper investigates the impacts of the 2008 economic crisis on industries in East Asia. By using the updated Asian international input-output table for 2008, the paper attempts to identify the transmission mechanism and the magnitude of impact of the crisis on industries in East Asia. The analyses reveal that the crisis significantly affected industrial output of the nine East Asian countries. In particular, the countries which are deeply involved in production networks were affected most seriously. Moreover, the analyses show that the impact was transmitted to East Asian industries considerably through the “triangular trade”, in which China imports parts and components from neighboring East Asian countries and then exports final products to the U.S. and EU markets.

Suggested Citation

  • Kuroiwa, Ikuo & Kuwamori, Hiroshi, 2010. "Shock Transmission Mechanism of the Economic Crisis in East Asia : An Application of International Input-Output Analysis," IDE Discussion Papers 220, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    • Handle: RePEc:jet:dpaper:dpaper220
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    Citations

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    Cited by:

    1. Endrész, Marianna & Skudelny, Frauke, 2016. "Crisis severity and the international trade network," Working Paper Series 1971, European Central Bank.
    2. Biyik, Onur, 2020. "Winner and Loser in Terms of the FTAs and the Trade War: Case Study of the Japanese Market. Examination of the GTAP10 Database," Conference papers 333233, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    3. Jochen Andritzky & Bernhard Kassner & Wolf Heinrich Reuter, 2019. "Propagation of changes in demand through international trade: A case study of China," The World Economy, Wiley Blackwell, vol. 42(4), pages 1259-1285, April.
    4. Dungey, Mardi & Khan, Faisal & Raghavan, Mala, 2018. "International trade and the transmission of shocks: The case of ASEAN-4 and NIE-4 economies," Economic Modelling, Elsevier, vol. 72(C), pages 109-121.

    More about this item

    Keywords

    International Trade; Input-output Tables; East Asia; Asian International Input-output Table; Triangular Trade; Production Network;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration

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