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The Bank of Korea’s profile in the global economic environment

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  • The Bank of Korea’s profile in the global economic environment
  • Kim, Choongsoo
  • Bank for International Settlements


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Title The Bank of Korea’s profile in the global economic environment
Similar Titles
Material Type Proceedings
Author(English)

Kim, Choongsoo

Publisher

[Basel]:Bank for International Settlements

Date 2011
Series Title; No BIS central bankers’ speeches
Pages 15
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Financial Policy
Holding Bank for International Settlements

Abstract

The economic sentiment indicator (ESI) for the Korean economy is recently developed by combining the BSI and CSI components that have a high correlation with GDP growth and a leading feature with respect to GDP cycle. We evaluate the forecasting performance of the Korean ESI with respect to GDP growth and cycle. For this purpose we use Granger causality tests to show that the constructed ESI contains useful information in predicting GDP growth. Using a probit model, we also show that the ESI is helpful in monitoring and predicting the turning points of GDP.