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Determinants of Korean Trade Flows and Their Geographical Destination Lorenzo Giorgianni

Determinants of Korean Trade Flows and Their Geographical Destination

Lorenzo Giorgianni

Published April 1st 1997
ISBN : 9781281601001
ebook
48 pages
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 About the Book 

Koreas growth performance during the past three decades has been impressive. The economy has evolved from a closed and backward agricultural economy to an industrial country member of the OECD. An increasingly outward-oriented development strategyMoreKoreas growth performance during the past three decades has been impressive. The economy has evolved from a closed and backward agricultural economy to an industrial country member of the OECD. An increasingly outward-oriented development strategy has played an important role in Koreas strong growth performance. During the past 25 years, the volume of Korean exports has grown at an average annual rate of over 15 percent- as a result, Koreas share of world trade is now over 2 percent, four times higher than 20 years ago. Are traditional explanations of the dynamics of trade flows consistent with these observations? This paper addresses this question by investigating the determinants of Korean trade flows and their geographical destination during this period of substantial economic transformation.