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Exports and economic growth. The gains from reallocation in Korea.

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URI: https://hdl.handle.net/10016/2834
ISSN: 2340-5031
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we9225.pdf (748.66 KB)
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1992-05
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This paper presents some empirical evidence suggesting that promotion of manufactured exports can lead to accelerated rates of growth in a developing economy. Based on a two-sectoral model involving exports and non-exports, a method is developed to measure the gains obtained through a reallocation of resources from the domestic to the external sector. The benefits from continued export expansion are found to decline over time. Cointegration tests confirm the long-run character of the estimated relationships. A simulation based on a dynamic, optimal control model illustrates the growth effects of different shocks and policies affecting the Korean export sector.
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Export expansion, Economic growth, Rellocation gains, Korea
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DE - Working Papers. Economics. WE
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