earticle

영어

In this paper, empirical analysis has been conducted for finding the impact of the COVID-19 vaccination on Korea’s exports in the manufacturing sector. The quarterly panel data used in the paper covers 76 countries, which are Korea’s trading partners. The estimations for 2020 and 2021 are respectively conducted. The estimation for 2021 primarily focuses on investigating the impact of COVID-19 vaccination on Korea’s exports while that for 2020 analyzes the impact of COVID-19 pandemic on Korea’s exports. The economic model and econometric technique employed in the study are the gravity model and PPML (Poisson pseudo maximum likelihood). The estimation results show that Korea’s COVID-19 pandemic and vaccination in 2021 have negatively and positively influenced Korea’s exports respectively in the manufacturing industry, whereas COVID-19 pandemic and vaccination of Korea’s exporting countries do not show the significant impact on Korea’s exports.