A Quarterly Econometric Model of the Korean Economy

  • Yoonha Yoo


This paper presents a preliminary report of the KDI quarterly econometric model which is presently under extensive revision. The initial KDI quarterly model was developed in 1979 and has since been revised and reestimated annually. Since 1986, however, the Korean economy has undergone sweeping structural changes in various sectors. As an example, for the first time in Korean history, the balance of payments turned into surplus in 1986 and increased further to $14 billion in 1988. The financial sectors, as a natural consequence of these developments in the external trade sector, also had experienced both qualitative and quantitative shifts and changes as well. Along with these external developments, there has been a substantial restructuring in the Korean financial markets towards more liberalization and deregulations.


Consumer Price Index Money Supply Real Interest Rate Private Consumption Consumption Expenditure 
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  1. [1]
    Friedman, M. (1957) A Theory of the Consumption Function, Princeton: Princeton University PressGoogle Scholar
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    Lee, S. (1984) ”Annual Econometric Model for Korea,” Korea Development Review, pp.136-160 (in Korean)Google Scholar
  3. [3]
    Nam, S. W. and O. H. Chang (1984) ”A Quarterly Macro econometric Model for the Korean Economy: Specifications and Estimated Results,” mimeo., Korea Development InstituteGoogle Scholar
  4. [4]
    Park, W. A. (1987) ”A Quarterly Macroeconometric Model for the Korean Economy,” KDI Working Paper No. 8716, Korea Development InstituteGoogle Scholar

Copyright information

© Springer-Verlag Tokyo 1994

Authors and Affiliations

  • Yoonha Yoo
    • 1
  1. 1.Korea Development InstituteKorea

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