Response of Domestic Production to Depreciation in Korea: an Application of Johansen's Conintegration Methodology
AbstractTheoretical and empirical studies concerned with the effects of devaluation on domestic production have generally concluded that while in industrial countries devaluation is expansionary, in developing nations it is contractionary. In this paper we consider the experience of Korea alone. After adopting a reduced form model from the literature, we employed Johansen's cointegration and error-correction technique and used quarterly data over 1971-94 to show that in Korea real depreciation of the Korean won is indeed expansionary. [F31, F41]
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal International Economic Journal.
Volume (Year): 11 (1997)
Issue (Month): 4 ()
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Web page: http://www.tandfonline.com/RIEJ20
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- Munir A. S. Choudhary & Muhammad Aslam Chaudhry, 2007. "Effects of the Exchange Rate on Output and Price Level: Evidence from the Pakistani Economy," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 12(1), pages 49-77, Jan-Jun.
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