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The effect of export composition on economic growth: the case of Korea

Author

Listed:
  • Sae Ran Koh
  • Jai S. Mah

    () (University of Michigan at Ann Arbor, USA
    Ewha Womans University, Republic of Korea)

Abstract

This article investigates the causal relationship between export composition and economic growth, among others, in the case of a strongly outward-oriented country, i.e. Korea. The cointegration tests show that cointegrating vectors exist among the concerned variables. Also, the error correction model indicates that there is a bidirectional causality between export composition and economic growth. That is, the increasing ratio of non-textile exports to textile exports has led to higher economic growth and vice versa. The empirical results remain qualitatively the same even when we include a measure of trade liberalization as one of the explanatory variables that may affect economic growth.

Suggested Citation

  • Sae Ran Koh & Jai S. Mah, 2013. "The effect of export composition on economic growth: the case of Korea," Journal of Developing Areas, Tennessee State University, College of Business, vol. 47(1), pages 171-179, January-J.
  • Handle: RePEc:jda:journl:vol.47:year:2013:issue1:pp:171-179
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    Cited by:

    1. Jiayi Huang & Miguel D. Ramirez, 2016. "Do Exports lead Economic Output in Five Asian Countries? A Cointegration and Granger Causality Analysis," Business and Economic Research, Macrothink Institute, vol. 6(2), pages 30-50, December.

    More about this item

    Keywords

    export composition; economic growth; Korea;

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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