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Capital Accumulation And Trade Policy:The Case Of Korea

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  • Nam Chong-Hyun
  • Kim Chang-Jin

Abstract

This paper investigates whether there are any systematic links between Domestic savings and export growth in light of the Korean experience, beginning with the early 1960s when trade policy shifted from an inward to outward orientation. The paper also examines how domestic investment might have been affected by the trade reforms. The study reveals that the impressive growth of Korea's domestic savings over the 1960-95 period owes in no small part to the Trade reforms and the subsequent rapid growth of exports. Evidence also Suggests that the long-lasting investment boom experienced by Korea over the 1960-95 period was initiated and maintained to a significant degree by the trade reform of the 1960s and thereafter. [F43, E21].

Suggested Citation

  • Nam Chong-Hyun & Kim Chang-Jin, 2000. "Capital Accumulation And Trade Policy:The Case Of Korea," International Economic Journal, Taylor & Francis Journals, vol. 14(1), pages 111-131.
    • Handle: RePEc:taf:intecj:v:14:y:2000:i:1:p:111-131
    DOI: 10.1080/10168730000000008
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    References listed on IDEAS

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    1. Laumas, Prem S, 1982. "Exports and the Propensity to Save," Economic Development and Cultural Change, University of Chicago Press, vol. 30(4), pages 831-841, July.
    2. World Bank, 1997. "World Development Report 1997," World Bank Publications - Books, The World Bank Group, number 5980, April.
    3. Coe, David T. & Helpman, Elhanan, 1995. "International R&D spillovers," European Economic Review, Elsevier, vol. 39(5), pages 859-887, May.
    4. Coe, David T & Helpman, Elhanan & Hoffmaister, Alexander W, 1997. "North-South R&D Spillovers," Economic Journal, Royal Economic Society, vol. 107(440), pages 134-149, January.
    5. Lee, Joong-Koon, 1971. "Exports and the Propensity to Save in L.D.C.s," Economic Journal, Royal Economic Society, vol. 81(322), pages 341-351, June.
    6. Anne O. Krueger, 1985. "Importance of General Policies to Promote Economic Growth," The World Economy, Wiley Blackwell, vol. 8(2), pages 93-108, June.
    7. Mr. Elhanan Helpman & Mr. David T. Coe, 1993. "International RandD Spillovers," IMF Working Papers 1993/084, International Monetary Fund.
    8. Krueger, Anne O, 1980. "Trade Policy as an Input to Development," American Economic Review, American Economic Association, vol. 70(2), pages 288-292, May.
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    Cited by:

    1. Francisco Garcia-Blanch, 2001. "An Empirical Inquiry into the Nature of South Korean Economic Growth," CID Working Papers 74A, Center for International Development at Harvard University.
    2. Jong Eun Lee, 2004. "The sequential issue in free trade areas: Policy implication for Korea," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 9(2), pages 165-174.

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