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The globalization promotes specialization according to comparative advantage. The ability to shift nation’s comparative advantage in a globalized environment is an important key factor for middle income trapped countries. While the comparative advantage of resource-abundant countries such as Algeria, Saudi Arabia remains a given endowment factor, Korea managed to shift its comparative advantage from labor abundant to capital abundant. In order to understand the reasons of success and failure of economies, the competitiveness in international trade was examined. Historical changes in export structures using the Net Export Ratio were studied to determine whether countries’ industrial upgrading of exported goods follows a smooth transition. This study’s finding is that for trapped countries, the patterns of exporting mainly were concentrated at the primary goods and this narrow industrial base is thus a possible cause of the MIT. This trend has intensified during the period of 1995-2015 when free trade environment was dominant. As for Korea, the industrial upgrading process appears to be consistent with the “flying-geese model” indicating that the industrial upgrading process passed through the backward linkage from consumption goods to capital goods.
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참고문헌 (22)
참고문헌 신청
Aiyar, M. / 2013 / Growth Slowdowns and the Middle-income Trap
Akamatsu, K. / 1962 / A Historical Pattern of Economic Growth in Developing Countries / Journal of Developing Economies 1 (1) : 3 ~ 25
Aoki, M. / 2012 / The Five Phases of Economic Development and Institutional Evolution in China, Japan and Korea / Institution and Comparative Economic Development 2012 (35) :
Caruso, D. / 2015 / Trade and History : The Case of EU-Algeria Relations / Boston University International Law Journal 33 (1) : 14 ~ 49
Choi, I. / 2012 / Understanding of International Trade and Finance for Korean Economy / Haenam
Akamatsu, K. / 1962 / A Historical Pattern of Economic Growth in Developing Countries / Journal of Developing Economies 1 (1) : 3 ~ 25
Aoki, M. / 2012 / The Five Phases of Economic Development and Institutional Evolution in China, Japan and Korea / Institution and Comparative Economic Development 2012 (35) :
Caruso, D. / 2015 / Trade and History : The Case of EU-Algeria Relations / Boston University International Law Journal 33 (1) : 14 ~ 49
Choi, I. / 2012 / Understanding of International Trade and Finance for Korean Economy / Haenam
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