153 0

A Sensitivity Analysis Regarding the Impacts of Trade Openness and Globalization Growth: Empirical Evidence from Korea

Title
A Sensitivity Analysis Regarding the Impacts of Trade Openness and Globalization Growth: Empirical Evidence from Korea
Author
김연규
Keywords
Trade Openness; Trade Globalization; Growth; Sensitivity Analysis; Error Correction Model
Issue Date
2012-11
Publisher
인하대학교 정석물류통상연구원 Jungseok Research Institute of International Logistics and Trade
Citation
Journal of International Logistics and Trade, 20-12, 10(2), P.47-60
Abstract
By using the annual time series data from 1986 to 2008 in South Korea (hereafter Korea) we will examine the possibility that the difference in trade liberalization is causal to the differentials in growth and measure the sensitivity of growth to changes in trade liberalization. For the estimation, we will use both alternative measures of trade liberalization; imports for the total factor cost of national income for trade openness (hereafter openness) and the sum of exports and imports for the total factor cost of national income for trade globalization (hereafter globalization). The regression results suggest that both openness and globalization make a substantial contribution towards Korea’s economic growth. In a comparison between these two indicators of trade liberalization, openness is more sensitive to growth. A negative and statistically significant error correction term implies that the hypothesis of no co-integration is rejected when one period lag is used. The existence of co-integration means that openness and globalization policies can be targeted in order to bring about a desired long-run effect as well as a short run effect on growth.
URI
http://www.dbpia.co.kr/Journal/ArticleDetail/NODE01984125http://hdl.handle.net/20.500.11754/42909
ISSN
1738-2122
Appears in Collections:
ETC[S] > 연구정보
Files in This Item:
There are no files associated with this item.
Export
RIS (EndNote)
XLS (Excel)
XML


qrcode

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.

BROWSE