{
  "title": "Determinants of Korean Trade Flows and their Geographical Destination",
  "publication": "IMF Working Papers, April 1, 1997",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/determinants-of-korean-trade-flows-and-their-geographical-destination-2177",
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  "summary": "This paper investigates the behavior of Korean trade flows during the last three decades and presents estimates of aggregate export and import equations.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Title: Determinants of Korean Trade Flows and their Geographical Destination\n- Authors: Gian M Milesi-Ferretti, Lorenzo Giorgianni\n- Date: April 1, 1997\n- Series: Working Paper No. 1997/054\n- Issue: 054\n- DOI: https://doi.org/10.5089/9781451847475.001"
    },
    {
      "heading": "Research focus and scope",
      "content": "- Investigates the behavior of Korean trade flows during the last three decades.\n- Presents estimates of aggregate export and import equations.\n- Considers different choices for scale and price variables.\n- Assesses the relative merits of alternative specifications in terms of stability and forecasting performance.\n- Provides an assessment of the drastic change in the geographical destination of Korean exports during the 1990s."
    },
    {
      "heading": "Key subjects and keywords",
      "content": "- Subjects: Export prices, Exports, Foreign exchange, Imports, International trade, Price elasticity, Prices, Real effective exchange rates\n- Keywords: coefficient of determination, commodity composition, demand and supply, demand equation, demand function, direction of exports, East Asia, elasticity of export demand, evolving export structure, exchange rate, export demand function, Export prices, export share, export volume, Exports, homogeneity restriction, Imports, Korea, Korean export, Price elasticity, price measure, Real effective exchange rates, supply equation, trade elasticities, WP"
    },
    {
      "heading": "Main analytical elements (as presented)",
      "content": "- Aggregate export and import equations estimated for Korea over a thirty-year span.\n- Comparison of alternative scale and price variable specifications for:\n  - Stability of estimated relationships.\n  - Forecasting performance of models.\n- Examination of the change in geographic destination of Korean exports during the 1990s."
    },
    {
      "heading": "Intended contribution",
      "content": "- Clarify empirical determinants of Korean exports and imports.\n- Inform model specification choices for scale and price measures in trade equations.\n- Document and evaluate the 1990s shift in export destinations for Korea.\n\nSource: Determinants of Korean Trade Flows and their Geographical Destination, IMF Working Papers 1997/054 (Gian M Milesi-Ferretti and Lorenzo Giorgianni, April 1, 1997).\n\n---\n\n Content in this bundle\n\n- Determinants of Korean Trade Flows and thier Greographical Destination - WP/97/54\n  - Determinants of Korean Trade Flows and thier Greographical Destination - WP/97/54 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Determinants of Korean Trade Flows and thier Greographical Destination - WP/97/54 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/determinants-of-korean-trade-flows-and-their-geographical-destination-2177"
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    "Authors: Gian M Milesi-Ferretti, Lorenzo Giorgianni",
    "Published: April 1, 1997",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451847475.001",
    "Title: Determinants of Korean Trade Flows and their Geographical Destination",
    "Authors: Gian M Milesi-Ferretti, Lorenzo Giorgianni",
    "Date: April 1, 1997",
    "Series: Working Paper No. 1997/054",
    "Issue: 054",
    "DOI: https://doi.org/10.5089/9781451847475.001",
    "Investigates the behavior of Korean trade flows during the last three decades.",
    "Presents estimates of aggregate export and import equations.",
    "Considers different choices for scale and price variables.",
    "Assesses the relative merits of alternative specifications in terms of stability and forecasting performance.",
    "Provides an assessment of the drastic change in the geographical destination of Korean exports during the 1990s.",
    "Subjects: Export prices, Exports, Foreign exchange, Imports, International trade, Price elasticity, Prices, Real effective exchange rates",
    "Keywords: coefficient of determination, commodity composition, demand and supply, demand equation, demand function, direction of exports, East Asia, elasticity of export demand, evolving export structure, exchange rate, export demand function, Export prices, export share, export volume, Exports, homogeneity restriction, Imports, Korea, Korean export, Price elasticity, price measure, Real effective exchange rates, supply equation, trade elasticities, WP",
    "Aggregate export and import equations estimated for Korea over a thirty-year span.",
    "Comparison of alternative scale and price variable specifications for:",
    "Examination of the change in geographic destination of Korean exports during the 1990s.",
    "Clarify empirical determinants of Korean exports and imports.",
    "Inform model specification choices for scale and price measures in trade equations.",
    "Document and evaluate the 1990s shift in export destinations for Korea.",
    "**Determinants of Korean Trade Flows and thier Greographical Destination - WP/97/54**"
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