Arbeitspapier
Rebalancing growth in the Republic of Korea
The current account surplus of the Republic of Korea (henceforth Korea) increased significantly in the immediate recovery period after the 1997 - 1998 Asian financial crisis. Since then the surplus has gradually diminished, and from 2006 to 2008, the current account was close to being balanced. Econometric analysis reveals that the effect of exchange rate changes on Korea's trade is not robust during non-crisis periods. Exchange rates only significantly affect trade when observations during crisis periods are included. This suggests that exchange rate adjustments alone will not solve the imbalance issue. Korea's external imbalances are not only caused by external factors; they also reflect internal and policy factors such as: (i) saving-investment imbalances; (ii) export-oriented policies; and (iii) the unbalanced structure of manufacturing and services. These internal imbalances result from domestic distortions and structural imbalances arising from market inefficiencies and public policies. These must be addressed to ensure balanced and sustained economic growth.
- Sprache
-
Englisch
- Erschienen in
-
Series: ADBI Working Paper ; No. 224
- Klassifikation
-
Wirtschaft
- Thema
-
Zahlungsbilanzungleichgewicht
Exportinduziertes Wachstum
Wachstumspolitik
Südkorea
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ha, Joonkyung
Lee, Jong-wha
Sumulong, Lea
- Ereignis
-
Veröffentlichung
- (wer)
-
Asian Development Bank Institute (ADBI)
- (wo)
-
Tokyo
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Ha, Joonkyung
- Lee, Jong-wha
- Sumulong, Lea
- Asian Development Bank Institute (ADBI)
Entstanden
- 2010
Ähnliche Objekte (12)
Thailand's growth rebalancing
Rebalancing growth in Asia
The role of macroeconomic policy in rebalancing growth
Saving in Asia and Issues for Rebalancing Growth
The ASEAN services sector and the growth rebalancing model
The ASEAN Services Sector and the Growth Rebalancing Model
Role of production networks in sustaining and rebalancing Asia's growth
Quantitative easing, portfolio rebalancing and credit growth: Micro evidence from Germany
The Republic of Korea's economic growth and catch-up: Implications for the People's Republic of China
Could Imports be Beneficial for Economic Growth? Some Evidence from Republic of Korea
Trajectories to high income: Growth dynamics in Japan, the People's Republic of China, and the Republic of Korea
Exchange rates and global rebalancing
Thailand's growth rebalancing
Rebalancing growth in Asia
The role of macroeconomic policy in rebalancing growth
Saving in Asia and Issues for Rebalancing Growth
The ASEAN services sector and the growth rebalancing model
The ASEAN Services Sector and the Growth Rebalancing Model
Role of production networks in sustaining and rebalancing Asia's growth
Quantitative easing, portfolio rebalancing and credit growth: Micro evidence from Germany
The Republic of Korea's economic growth and catch-up: Implications for the People's Republic of China
Could Imports be Beneficial for Economic Growth? Some Evidence from Republic of Korea
Trajectories to high income: Growth dynamics in Japan, the People's Republic of China, and the Republic of Korea
Exchange rates and global rebalancing
Thailand's growth rebalancing
Rebalancing growth in Asia
The role of macroeconomic policy in rebalancing growth
Saving in Asia and Issues for Rebalancing Growth
The ASEAN services sector and the growth rebalancing model
The ASEAN Services Sector and the Growth Rebalancing Model
Role of production networks in sustaining and rebalancing Asia's growth
Quantitative easing, portfolio rebalancing and credit growth: Micro evidence from Germany
The Republic of Korea's economic growth and catch-up: Implications for the People's Republic of China
Could Imports be Beneficial for Economic Growth? Some Evidence from Republic of Korea
Trajectories to high income: Growth dynamics in Japan, the People's Republic of China, and the Republic of Korea