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Export dynamism of Korea : A comparative analysis

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Frame of Image xport Dynamism of Korea : A Comparative Analysis1)
Recent trade studies have shifted perspectives of investigating the role of trade for economic growth from how much a country exports to what and how it exports. The argument is that the diversification of export basket and the quality of exporting goods, rather than the volume of exports, are better indicators of economic growth. Rich countries are rich because they produce and export more complex goods and services, while poor nations are poor due to the lack of sophistication of their production and exports structures. The orthodox approach to accounting for this distinction was to rely on the fundamental characteristics of the trading nations—namely, natural resources, labor, physical and human capital, and technology. The standard trade theory suggests that the changing structure of exports should reflect the changing factor endowments, and does not allow any artificial and self-reinforcing factors in the development process. The evolution of export dynamics, however, is more complicated than the conventional
1) The article draws on a part of the issue paper, entitled“The Creative Economy and the Dynamism of Industry and Trade”to be published in Korean. ,
42
KIET Industrial Economic Review
models predict. It is well known that learning by exporting and economies of scale from expanding overseas markets create market failures, affecting the pattern of specialization. Any firm’s efforts to discover export opportunities and


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Title Export dynamism of Korea
Similar Titles
Sub Title

A comparative analysis

Material Type Reports
Author(English)

Youn, Woo-Jin

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2013-11
Journal Title; Vol./Issue KIET Industrial Economic Review: Current Issues:vol. 18(no. 6)
Pages 16
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Holding KIET; KDI School