The effect of export composition on economic growth: the case of Korea
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.
Volume (Year): 47 (2013)
Issue (Month): 1 (January-June)
|Contact details of provider:|| Postal: 330 10th Ave. N., Ste. K, Nashville, TN 37203-3401|
Web page: http://www.tnstate.edu
More information through EDIRC