Determinant Factors of Korean Economic Growth
Faktor Penentu kepada Pertumbuhan Ekonomi Korea
Keywords:
Economic growth, capital formation, total trade, financial development, inflationAbstract
This study examines the determinants of economic growth in Korea based on Ordinary
Least Squares estimation technique. The data consists of 151 observations. This study is
using quarterly time series data for the period 1970–2007. The empirical results indicate
that capital formation and total trade lead to an increase in economic growth in Korea.
This study also finds that financial development and inflation have negative effect on
economic growth. These findings suggest that the need for policymakers to identify and
makes useful recommendations on how to increase and sustain capital formation and
total trade to improve the well-being of Koreans.
Kajian ini menyelidik penentu pertumbuhan ekonomi di Korea berdasarkan teknik
anggaran Regresi Kuasadua Terkecil Biasa. Data terdiri daripada 151 pemerhatian.
Kajian ini menggunakan data siri masa suku tahunan dari 1970–2007. Hasil kajian
menunjukkan bahawa pembentukan modal dan jumlah perdagangan membawa kepada
peningkatan dalam pertumbuhan ekonomi di Korea. Kajian ini juga mendapati bahawa
pembangunan kewangan dan inflasi mempunyai kesan negatif ke atas pertumbuhan
ekonomi. Dapatan ini mencadangkan bahawa keperluan untuk pembuat dasar bagi
mengenalpasti dan membuat cadangan yang berguna mengenai cara untuk
meningkatkan dan mengekalkan pembentukan modal dan jumlah perdagangan bagi
meningkatkan kesejahteraan rakyat Korea.
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