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Purpose – The purpose of this study was to examine what determinants had an effect on the structural change of trade which had occurred to Korean manufacturing industry in 1980s when Korea experienced a rapid economic growth. Design/methodology/approach– After Leontief (1954)’s empirical analysis, Heckscher-Ohlin theorem was extended into multi-factor trade model including human capital. It was summed up as Heckscher-Ohlin-Vanek (HOV) equation: AT=V-sVw. This equation which consists of three variables-trade (T), factor intensity matrix (A) and relative abundance (V-sVw)-provides the theoretical base for the empirical test. As for the method of empirical test, I used logit analysis designed for the binary variable. This method makes it possible to test the correlation between the export probability of one goods and determinants of trade. Findings– According to the results of logit analysis, in early 1980s, because Korea was abundant in labor, labor was net-exported, while physical capital and human capital were net-imported. But in late 1980s, labor and human capital were net-exported, while physical capital was net-imported. It is found that human capital factor had emerged as significant factor when it comes to explaining the structural change of trade in Korean manufacturing industry in 1980s. Research implications or Originality– Korean experience of rapid economic growth in the past can be a guideline of the economic growth of developing countries in the future. In this context, this study is considered to be meaningful, being applied to the structural change of trade in developing countries such China and Vietnam etc which have promoted the similar economic growth strategy and which are closely linked to Korean economy.
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참고문헌 (35)
참고문헌 신청
Amemiya, Takeshi / 1981 / Qualitative Response Model : A Survey / Journal of Economic Literature 14:1483~1536
Aw, B. Y. / 1983 / The Interpretation of Cross-section Regression Tests of the Heckscher-Ohlin Theorem with Many Goods and Factors / Journal of International Economics 14(1):163~167
Balassa, B. / 1979 / The Changing Pattern of Comparative Advantage in Manufactured Good / Review of Economics and Statistics 56(2):259~266
Baldwin, R. E. / 1971 / Determinants of the Commodity Structure of U. S. Trade / American Economic Review 61(4):126~146
Bank of Korea / 1981 / Input-Output Table 1980 / Bank of Korea
Aw, B. Y. / 1983 / The Interpretation of Cross-section Regression Tests of the Heckscher-Ohlin Theorem with Many Goods and Factors / Journal of International Economics 14(1):163~167
Balassa, B. / 1979 / The Changing Pattern of Comparative Advantage in Manufactured Good / Review of Economics and Statistics 56(2):259~266
Baldwin, R. E. / 1971 / Determinants of the Commodity Structure of U. S. Trade / American Economic Review 61(4):126~146
Bank of Korea / 1981 / Input-Output Table 1980 / Bank of Korea
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