Federal Reserve Bank of San Francisco Working Paper Series How Much of South Korea's Growth Miracle Can Be Explained by Trade Policy? How Much of South Korea's Growth Miracle Can Be Explained by Trade Policy?
Federal Reserve Bank of San Francisco Working Paper Series How Much of South Korea's Growth Miracle Can Be Explained by Trade Policy? How Much of South Korea's Growth Miracle Can Be Explained by Trade Policy?
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旧金山联邦储备银行工作论文系列 韩国的增长奇迹在多大程度上可以通过贸易政策来解释？
DOI：
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发表时间：
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期刊：
影响因子：
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通讯作者：
Kei
中科院分区：
文献类型：
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作者：
M. Connolly;Kei
和费城联邦储备银行发表了非常有用的评论。伊迪丝·奥斯塔皮克和莫汉·阿南德提供了出色的研究援助。本文中表达的观点是作者的观点，不一定反映费城联邦储备银行或联邦储备系统的观点。摘要韩国的增长奇迹是有据可查的。20世纪60年代初的一系列大规模机构和政策改革被认为是该国非凡表现的原因之一。在本文中，我们评估了一套关键政策的重要性，即韩国的贸易政策改革，以及同时降低关贸总协定关税。我们开发了一个新古典增长和贸易模型，强调了降低贸易壁垒可以导致人均GDP增长的两种力量：比较优势和专业化，以及资本积累。我们校准了模型，并模拟了1962年代初至1995年间发生的三套关税削减的影响。我们的主要发现是，该模型可以解释韩国在制造业人均产出方面追赶七国集团国家的高达32%。我们发现，关税降低的影响加在一起，大约是每一次单独应用的减税总和的两倍。
and Philadelphia Fed for very useful comments. Edith Ostapik and Mohan Anand provided excellent research assistance. The views expressed in this paper are those of the authors and are not necessarily reflective of views of the Federal Reserve Bank of Philadelphia or the Federal Reserve System. Abstract South Korea's growth miracle has been well documented. A large set of institutional and policy reforms in the early 1960s is thought to have contributed to the country's extraordinary performance. In this paper, we assess the importance of one key set of policies, the trade policy reforms in Korea, as well as the concurrent GATT tariff reductions. We develop a model of neoclassical growth and trade that highlights two forces by which lower trade barriers can lead to increased per worker GDP: comparative advantage and specialization, and capital accumulation. We calibrate the model and simulate the effects of three sets of tariff reductions that occurred between the early 1962 and 1995. Our main finding is that the model can explain up to 32 percent of South Korea's catch-up to the G7 countries in output per worker in the manufacturing sector. We find that the effects of the tariff reductions taken together are about twice as large as the sum of each reduction applied individually.
DOI：
10.2139/ssrn.3595
发表时间：
1998-03
期刊：
Macroeconomics eJournal
影响因子：
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作者：
R. Hall;C. I. Jones
通讯作者：
R. Hall;C. I. Jones