International Vertical Integration and Economic Growth

• 발행기관: 서울대학교 경제연구소
• 저자명: Chang Geun Yoo Jisoon Lee
• 간행물 정보: 『Seoul Journal of Economics』Seoul Journal of Economics Volume 10 No.3, 179~199쪽, 전체 20쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 1997.09.30

영문 초록

Korea's trade patterns with U. S. in industrial products are remarkably different from those with Japan. Korea has been running deficits visa vie Japan every year since mid 1960s, whereas she has been running surpluses visa vie U. S. during the same period. These trade patterns can be a manifestation of an international vertical integration between Korea and Japan. with U. S. acting as a third country. Thus since 1960s Korea has been buying capital goods developed and produced in Japan to manufacture final goods. This arrangement allowed Korea to achieve economic growth as rapid as that of Japan. as she was able to tap into the advanced technology developed in Japan. Korea's faster growth then can be partly explained by the catch up effect. Here U. S. offered huge markets in which Korea was able to sell the final goods produced with Japanese technology. This paper explains these observed trade patterns with an endogenous growth model where an international vertical integration promotes more rapid economic growth not only for the advanced country, but also for the developing country.

목차

Abstract

Ⅰ. Introduction

Ⅱ. Long Run Growth in a Closed Economy

Ⅲ. International Vertical Integration and Long Run Growth

Ⅳ. Concluding Remarks

References