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Korea’s trade, growth of trade and the world economy in post-crisis ASEAN+3 free trade agreement : An econometric and policy analysis

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  • Korea’s trade, growth of trade and the world economy in post-crisis ASEAN+3 free trade agreement
  • Hoa, Tran Van
  • The Association of Korean Economic Studies


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Title Korea’s trade, growth of trade and the world economy in post-crisis ASEAN+3 free trade agreement
Similar Titles
Sub Title

An econometric and policy analysis

Material Type Articles
Author(English)

Hoa, Tran Van

Publisher

[Seoul]:The Association of Korean Economic Studies

Date 2004
Journal Title; Vol./Issue The Journal of the Korean Economy:vol. 5(no. 2)
Pages 36
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Economy < Trade
Holding AKES

Abstract

The Korean economy had achieved economic ‘miracles’ in the past, but it currently faces many challenges, economically and politically (Tran Van Hoa, 2002), compounded by a global economic slowdown with hesitant recovery (IMF, 2004), terrorist attacks, regional wars, the SARS and avian flu outbreaks in Asia, and domestic and global uncertainty ahead. The paper introduces the extended gravity theory to construct a simple flexible simultaneous-equation econometric model of Korea trade and growth with its major trading partners, and provides efficient empirical results on its trade-growth causality and trade determination over the past two decades. Based on these findings, economic policy challenges are then targeted for study and solution development.