01876cas a2200241 a 4500 AALejournalIMF003049 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451856576 1018-5941 BD-DhAAL BD-DhAAL Cheng, Kevin. A Reexamination of Korea's Trade Flows : What Has Changed and What Explains These Changes? / Kevin Cheng. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (24 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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 (EEPs) in total exports, the income elasticity of the Korean export demand has fallen sharply while its price elasticity has risen dramatically. This is a curious result, which begs the question of why. Accordingly, an alternative supply-based model shows that the sharp increase in exports of EEPs is mainly due to Korea's remarkable ability to make technological improvements in their production. After reestimating the standard import equation, the paper finds estimates similar to those from previous studies. Since most of these imports are industrial inputs, they are jointly determined by consumption, fixed investment, and exports. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2004/145 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/145/001.2004.issue-145-en.xml IMF e-Library