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Does Trade Expansion Still Promote Employment in Korea?

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  • Chong‐Hyun Nam

Abstract

According to the Heckscher–Ohlin–Samuelson (HOS) model, trade can be an important source of job gains for developing economies, but, conversely, result in job losses for developed economies. Empirical research to date, however, has provided mixed results regarding the direction and size of the employment effects for both developing and developed economies. This paper attempts to evaluate the employment implications of trade for Korea over the 1975–2000 period. Korea merits attention because it has successfully transformed itself from a developing to a semi‐developed economy during this period. Empirical results show that trade has indeed played an important role in enhancing job opportunities in Korea throughout this period, but its role as a job creator has diminished since 1985, suggesting that such a role could soon end, or even reverse.

Suggested Citation

  • Chong‐Hyun Nam, 2008. "Does Trade Expansion Still Promote Employment in Korea?," The World Economy, Wiley Blackwell, vol. 31(6), pages 720-737, June.
    • Handle: RePEc:bla:worlde:v:31:y:2008:i:6:p:720-737
    DOI: 10.1111/j.1467-9701.2008.01104.x
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    References listed on IDEAS

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    1. Anne O. Krueger, 1983. "Trade and Employment in Developing Countries, Volume 3: Synthesis and Conclusions," NBER Books, National Bureau of Economic Research, Inc, number krue83-1.
    2. Robert E. Baldwin, 1995. "The Effects of Trade and Foreign Direct Investment on Employment and Relative Wages," NBER Working Papers 5037, National Bureau of Economic Research, Inc.
    3. Anne O. Krueger, 1983. "Trade and Employment in Less Developed Countries: The Questions," NBER Chapters, in: Trade and Employment in Developing Countries, Volume 3: Synthesis and Conclusions, pages 1-9, National Bureau of Economic Research, Inc.
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