Determinants of Korean Trade Flows and their Geographical Destination

ByGian M Milesi-Ferretti, Lorenzo Giorgianni

April 1, 1997

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper investigates the behavior of Korean trade flows during the last three decades and presents estimates of aggregate export and import equations. In particular, it considers different choices for scale and price variables and assesses the relative merits of these alternative specifications in terms of stability and forecasting performance. It also provides an assessment of the drastic change in the geographical destination of Korean exports during the 1990s.

Subject: 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

Pages:
47
Volume:
1997
DOI:
https://doi.org/10.5089/9781451847475.001
Issue:
054
Series:
Working Paper No. 1997/054
Stock No:
WPIEA0541997
ISBN:
9781451847475
ISSN:
1018-5941

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