지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2007.11
- 수록면
- 205 - 235 (31page)
이용수
초록· 키워드
오류제보하기
The primary objective of this paper is to examine the major determinants of GDP growth in South Korea, emphasizing the importance of investment, trade and human capital using quarterly time series data covering the period 1980Q1 to 2005Q3. The time series properties of the data are, first, analyzed using the Zivot-Andrews (1992) model. The empirical results derived indicate that there is insufficient evidence against the null hypothesis of unit roots for all of the variables under investigation. Second, the Gregory-Hansen (1996) co integration technique, allowing for the presence of potential structural breaks in the data, is applied, and is found to reject the null hypothesis of no co integration relationship in favour of the existence of at least one cointegration relation in the presence of single structural breaks in the system. By applying these methodologies we find that most of the endogenously determined structural breaks coincide with the gradual effects of the Asian crisis on the Korean economy.
Taking into account the resulting endogenously determined structural breaks the error correction version of the ARDL procedure is then employed, to specify the short- and long-term determinants of economic growth in the presence of structural breaks. Based on the preliminary empirical findings obtained we conclude that, in the long-term, policies aimed at promoting various types of physical and human capital, and trade openness, have improved Korea’s economic growth.
More specifically, the empirical results show that while the effects of physical and human capital as well as exports are highly significant, as expected, total imports were found to be non significant, and this could be due to compositional changes away from the importation of capital goods to consumer goods as Korean standards of living have improved. It was also found that the speed of adjustment in the estimated models is relatively high and had the expected significant and negative sign.
Taking into account the resulting endogenously determined structural breaks the error correction version of the ARDL procedure is then employed, to specify the short- and long-term determinants of economic growth in the presence of structural breaks. Based on the preliminary empirical findings obtained we conclude that, in the long-term, policies aimed at promoting various types of physical and human capital, and trade openness, have improved Korea’s economic growth.
More specifically, the empirical results show that while the effects of physical and human capital as well as exports are highly significant, as expected, total imports were found to be non significant, and this could be due to compositional changes away from the importation of capital goods to consumer goods as Korean standards of living have improved. It was also found that the speed of adjustment in the estimated models is relatively high and had the expected significant and negative sign.
목차
1. INTRODUCTION
2. AN OVERVIEW OF KOREA‘S ECONOMIC GROWTH
3. EMPIRICAL ANALYSIS OF THE TIME SERIES PROPERTIES OF THE DATA
4. THE ARDL COINTEGRATION APPROACH
5. SUMMARY AND CONCLUSION
REFERENCES
참고문헌 (0)
참고문헌 신청함께 읽어보면 좋을 논문
논문 유사도에 따라 DBpia 가 추천하는 논문입니다. 함께 보면 좋을 연관 논문을 확인해보세요!
-
Multiple Structural Breaks in Korea's Macroeconomic Data : An Application of the Lumsdaine and Papell Test
Korea and the World Economy
2008 .12
-
Testing for Structural Breaks in the Korean Economy 1980-2005 : An Application of the Innovational Outlier and Additive Outlier Models
Korea and the World Economy
2006 .11
-
On the breaking of *i in Korean
아세아연구
1959 .12
-
Effective Human Capital and Long-run Economic Growth
Korea and the World Economy
2013 .12
-
인적자본형성과 지역경제성장
지역연구
1997 .06
-
Foreign Capital In ows-Growth Nexus and Role of Domestic Financial Sector: An ARDL Cointegration Approach for Pakistan
Journal of Economic Research (JER)
2010 .01
-
Structural Break in the Real Exchange Rates: The Asian Crisis
[KIEP] East Asian Economic Review
2009 .06
-
1980년대 한국 제조업 무역결정요인 분석
무역연구
2020 .01
-
Re-exploring the nexus between oil prices and ASEAN exchange rates: An ARDL bounds testing approach
Journal of Economic Research (JER)
2016 .01
-
경제통합지역에서 사회자본이 경제성장에 미치는 영향에 대한 연구
무역학회지
2005 .10
-
Structural Breaks and Testing for the Random Walk Hypothesis in International Stock Prices
Korea and the World Economy
2007 .05
-
패널VAR를 이용한 무역, 인적자본과 경제성장의 인과관계
무역연구
2019 .01
-
Measuring the Impact of Human Capital on the Economic Growth of South Korea
Korea and the World Economy
2008 .05
-
인적자본과 지역성장의 실증분석에 관한 연구
지역연구
2000 .12
-
국제자료를 통해 본 인적자본과 경제성장 : 내생적 성장이론에 대한 실증적 재검토
무역학회지
2003 .12
-
Structural Changes and U.S.-Korean Economic Relations
아세아연구
1982 .01
-
서울의 지역경제지표들에 대한 다중구조변화 연구
서울도시연구
2009 .12
-
GMM 방법을 이용한 부동산가격의 구조변화검정
부동산학연구
2007 .01
이 논문의 저자 정보
이 논문과 함께 이용한 논문
최근 본 자료
댓글(0)
0
UCI(KEPA) : I410-ECN-0101-2009-320-016270437