On the Behavior of Import Demand of Korea

Jai S. Mah

doi:10.1111/j.1467-8381.1992.tb00085.x

On the Behavior of Import Demand of Korea

Jai S. Mah

International Studies

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5 Scopus citations

Abstract

In this paper, I provide estimates of the Import demand function for Korea for the period of 1971 – 1988. Second, considering the possibility of structural change in our data period, we test the stability of the coefficients. Cusum of squares test result shows the constancy of the parameters broken between pre‐1980 and post‐1981 data. The estimation result based on data only after 1981 shows that the income elasticity becomes less responsive over time and the relative prices do not exercise significant influence on Korean imports.

Original language	English
Pages (from-to)	115-119
Number of pages	5
Journal	Asian Economic Journal
Volume	6
Issue number	2
DOIs	https://doi.org/10.1111/j.1467-8381.1992.tb00085.x
State	Published - Jul 1992

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AB - In this paper, I provide estimates of the Import demand function for Korea for the period of 1971 – 1988. Second, considering the possibility of structural change in our data period, we test the stability of the coefficients. Cusum of squares test result shows the constancy of the parameters broken between pre‐1980 and post‐1981 data. The estimation result based on data only after 1981 shows that the income elasticity becomes less responsive over time and the relative prices do not exercise significant influence on Korean imports.

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On the Behavior of Import Demand of Korea

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