Replication data for: How Much of South Korea's Growth Miracle Can Be Explained by Trade Policy?

Principal Investigator(s): View help for Principal Investigator(s) Michelle Connolly; Kei-Mu Yi

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Project Citation:

Connolly, Michelle, and Yi, Kei-Mu. Replication data for: How Much of South Korea’s Growth Miracle Can Be Explained by Trade Policy? Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114056V1

Project Description

Summary: This paper assesses the importance of trade policy reforms in South Korea, as well as the General Agreement on Tariffs and Trade (GATT) tariff reductions, in explaining Korea's growth miracle. We develop a model of neoclassical growth and trade in which lower tariffs lead to increased gross domestic product (GDP) per worker via comparative advantage and specialization, and capital accumulation. We calibrate the model and simulate the tariff reductions that occurred between early 1962 and 1989. The model can explain 17 percent of South Korea's catch-up to the G7 countries in value-added per worker in the manufacturing sector. These gains, as well as most of the welfare gains, are driven by two key transmission channels: multistage production and imported investment goods. (JEL F13, F43, L60, O47)

Scope of Project

JEL Classification:
      F13 Trade Policy; International Trade Organizations
      F43 Economic Growth of Open Economies
      L60 Industry Studies: Manufacturing: General
      O47 Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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V1 [2019-10-12]

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