A reexamination of Korea's trade flows : what has changed and what explains these changes /

A reexamination of Korea's trade flows : what has changed and what explains these changes /

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Bibliographic Details
Author / Creator:	Cheng, Kevin C., author.
Imprint:	[Washington, D.C] : International Monetary Fund, ©2004.
Description:	1 online resource (24 pages).
Language:	English
Series:	IMF working paper, 2227-8885 ; WP/04/145 IMF working paper ; WP/04/145.
Subject:	Exports -- Korea (South) Imports -- Korea (South) Exports. Imports. Korea (South) Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12496838

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. Asia and Pacific Department, issuing body.
ISBN:	1451901704 9781451901702 9781451856576 1451856571
ISSN:	2227-8885
Notes:	Includes bibliographical references. Restrictions unspecified Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
Summary:	This paper reexamines Korea's trade flows. Using the standard demand-based models, the paper finds that owing to the increasing share of electrical and electronic products (EEPs) in total exports, the income elasticity of the Korean export demand has fallen sharply while its price elasticity has risen dramatically. This is a curious result, which begs the question of why. Accordingly, an alternative supply-based model shows that the sharp increase in exports of EEPs is mainly due to Korea's remarkable ability to make technological improvements in their production. After reestimating the standard import equation, the paper finds estimates similar to those from previous studies. Since most of these imports are industrial inputs, they are jointly determined by consumption, fixed investment, and exports.
Other form:	Print version: Cheng, Kevin C. Reexamination of Korea's trade flows. [Washington, D.C] : International Monetary Fund, ©2004
Standard no.:	10.5089/9781451901702.001

Description
Summary:	This paper reexamines Korea's trade flows. Using the standard demand-based models, the paper finds that owing to the increasing share of electrical and electronic products (EEPs) in total exports, the income elasticity of the Korean export demand has fallen sharply while its price elasticity has risen dramatically. This is a curious result, which begs the question of why. Accordingly, an alternative supply-based model shows that the sharp increase in exports of EEPs is mainly due to Korea's remarkable ability to make technological improvements in their production. After reestimating the standard import equation, the paper finds estimates similar to those from previous studies. Since most of these imports are industrial inputs, they are jointly determined by consumption, fixed investment, and exports.
Physical Description:	1 online resource (24 pages).
Format:	Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Bibliography:	Includes bibliographical references.
ISBN:	1451901704 9781451901702 9781451856576 1451856571
ISSN:	2227-8885 2227-8885 ;