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The productivity of foreign savings in a developing economy : A case study of South Korea, 1961-1980

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  • The productivity of foreign savings in a developing economy
  • Yhip, Terence
  • McGill University


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Title The productivity of foreign savings in a developing economy
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Sub Title

A case study of South Korea, 1961-1980

Material Type Articles
Author(English)

Yhip, Terence

Publisher

Montreal:McGill University

Date 1984-10
Pages 274
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Economy < Economic System
Holding McGill University

Abstract

With South Korea as the case study, this thesis analyze the role, allocation, and productivity of foreign capital. We evaluate hypothesis based on the Harrod-Domar, Solow-Swan, and dual-gap growth models with foreign savings. An econometric growth-with-foreign debt model (consisting of forty three equations) is estimated to test hypotheses and to quantify theoretical conclusions. The econometrics include tests of (a) the Griffin-Enos substitution hypothesis, and (b) the Please hypothesis or effect. We also include South Korea’s internal and external economic adjustments in response to the oil-with-recessionary shocks in 1974-1975, and 1979-1980. The econometric model is tested to ensure that its dynamic and system characteristics are economically and statistically sound to support simulation experiments. As a supplement to the economic analysis, the final chapter includes essential non-economic considerations.