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Investment, Exports, and Output in South Korea: A VAR Approach to Growth Empirics

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  • Feasel, Edward
  • Kim, Yongbeom
  • Smith, Stephen C

Abstract

This study examines the time-series behavior of investment, exports, and output in South Korea from 1956 to 1996. Impulse-response analysis and variance decompositions indicate that investment rates and export growth rates have significant short-run effects on the growth rates of per capita output. While there are long-run effects to the levels of per capita output, statistically all growth rate effects disappear within four years. No special role for equipment investment was found. These findings are consistent with the predictions of the Solow growth model. The study found no empirical support for endogenous growth theory. Copyright 2001 by Blackwell Publishing Ltd

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  • Feasel, Edward & Kim, Yongbeom & Smith, Stephen C, 2001. "Investment, Exports, and Output in South Korea: A VAR Approach to Growth Empirics," Review of Development Economics, Wiley Blackwell, vol. 5(3), pages 421-432, October.
  • Handle: RePEc:bla:rdevec:v:5:y:2001:i:3:p:421-32
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    Cited by:

    1. Weber, Enzo, 2009. "Common and uncommon sources of growth in Asia Pacific," Journal of the Japanese and International Economies, Elsevier, vol. 23(1), pages 20-36, March.
    2. Abeer Khandker, 2016. "Why is the South Korean growth experience different? An analysis of the differences of per capita GDP between South Korea and South Asian countries," Economic Change and Restructuring, Springer, vol. 49(1), pages 41-69, February.
    3. Weber, Enzo, 2011. "Foreign and domestic growth drivers in Eastern Europe," Economic Systems, Elsevier, vol. 35(4), pages 512-522.
    4. José Mauricio Gil León & Andrea Yaelt Lemus Vergara, 2012. "Efectos de la apertura comercial sobre la producción manufacturera en Colombia: una aproximación cuantitativa (1975-2007)," REVISTA APUNTES DEL CENES, UNIVERSIDAD PEDAGOGICA Y TECNOLOGICA DE COLOMBIA, December.
    5. repec:ilo:ilowps:455342 is not listed on IDEAS

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