earticle

영어

The portion of Japan in the Korean export market has been decreased from 19.4 percent in 1990 to 7.1 percent in 2012. And the export structure of Korea is not only very similar to that of Japan, but there are also behavioral differences among the main export items. This paper, hence, employs the Comparative Advantages by Countries(CACs) and estimates the integrating vectors to reveal the behaviors of the seven main export items, which are the household electronic appliances, industrial devices, electronic components, wire and wireless communication devices, semiconductors, and computers. The study finds that the coefficients of CAC on the exports of 7 items are not only significant but positive in both the fixed-effect and random-effect model. The export elasticity of CAC is higher than unity in the wire communication devices, computers, and industrial devices, while the household electronic appliances, electronic components, wireless communication devices, and semiconductors have elasticity lower than unity. Furthermore, rolling panel regression shows that the influences of CAC on the export performance are on the decrease. The decomposition of CAC shows that a higher CAC is not always indicate a lager export performance of the concerned items.