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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2012.1
- 수록면
- 178 - 192 (15page)
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This paper tries to evaluate the relative importance of price competition (compared to non-price competition) in the Korea’s trade by examining the relative size of price and income elasticities of the country’s exports and imports. After applying linear regression estimation, the paper finds three distinctive features of Korea’s trade. First, relative price changes have little effect on trade. Secondly, non-price competition is much more important than price competition in Korea’s trade. Thirdly, Korea is strong in non-price competition in its trade vis-a-vis the rest of the world, which means that the Korean economy can grow faster than the rest of the world without suffering balance of payments problems in the long run as long as there are not strong and persistent net long- erm capital outflows. The policy implication of the estimation results is that relative price competition cannot be an effective measure to improve trade performance of Korea. The improvement in a country’s non-price competition may be the only solution to better trade performance.
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참고문헌 (21)
참고문헌 신청
Atesoglu, H. S. / 1997 / On the dynamics of balance-of-paymentsconstrained growth / Applied Economics 29 : 1343 ~ 1351
Bairam, E. / 2001 / Thirlwall’s law and the Stability of Export and Import Income Elasticities / International Review of Applied Economics 15 : 287 ~ 303
Boyd, D. / 2001 / Real Exchange Rate Effects on the Balance of Trade: Cointegration and the Marshall-Lerner Condition / International Journal of Finance and Economics 6 : 187
Britto, G. / 2009 / Thirlwall’s law and the long-term equilibrium growth rate: an application to Brazil / Journal of Post Keynesian Economics 32 : 115 ~ 136
Caporale, G. M. / 1999 / Review of International Economics, Vol / Review of International Economics 7 (2) : 254 ~ 264
Bairam, E. / 2001 / Thirlwall’s law and the Stability of Export and Import Income Elasticities / International Review of Applied Economics 15 : 287 ~ 303
Boyd, D. / 2001 / Real Exchange Rate Effects on the Balance of Trade: Cointegration and the Marshall-Lerner Condition / International Journal of Finance and Economics 6 : 187
Britto, G. / 2009 / Thirlwall’s law and the long-term equilibrium growth rate: an application to Brazil / Journal of Post Keynesian Economics 32 : 115 ~ 136
Caporale, G. M. / 1999 / Review of International Economics, Vol / Review of International Economics 7 (2) : 254 ~ 264
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