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Reexamination of Korea’s Trade Flows: What Has Changed and What Explains These Changes?
This paper reexamines Korea’s trade flows. Using the standard demand-based models, the paper finds that owing to the increasing share of electrical and electronic products in total exports, the income elasticity of the Korean export demand has fallen sharply while its price elasticity has risen dramatically.
Link
http://d.repec.org/n?u=RePEc:imf:imfwpa:04/145&r=all