Determinants of Korean Trade Flows and their Geographical Destination

Gian Maria Milesi-Ferretti () and Lorenzo Giorgianni

No 1997/054, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; exchange rate; demand and supply; coefficient of determination; Korea; trade elasticities; direction of exports; supply equation; export share; Korean export; price measure; export demand function; homogeneity restriction; demand equation; evolving export structure; export volume; commodity composition; demand function; elasticity of export demand; Exports; Imports; Export prices; Real effective exchange rates; Price elasticity; East Asia (search for similar items in EconPapers)
Pages: 47
Date: 1997-04-01
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Citations: View citations in EconPapers (5)

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Working Paper: Determinants of Korean Trade Flows and their Geographical Destination (1997)
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