Exports and economic growth. The gains from reallocation in Korea

J.R. España

UC3M Working papers. Economics from Universidad Carlos III de Madrid. Departamento de Economía

Abstract: 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.

Keywords: Export; expansion; Economic; growth; Rellocation; gains; Korea (search for similar items in EconPapers)
Date: 1992-05
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Persistent link: https://EconPapers.repec.org/RePEc:cte:werepe:2834

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