IMF Staff Country Reports

Republic of Korea: Selected Issues

Publication Date:

February 12, 2002

Electronic Access:

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Summary:

This Selected Issues paper focuses on some of the key stylized facts of Korean business and export cycles over 1960–2001, and calculates a chronology for the classical cycle in these series by applying a variant of the Bry and Boschan (1971) cycle-doling algorithm. It highlights that the Korean classical business cycle and exports cycles are extremely asymmetric, as they exhibit long-lived expansions and much shorter-lived contractions. The results also indicate that the probability of ending a contraction or expansion phase in Korean industrial production and Korean real exports is independent of their duration.

Series:

Country Report No. 2002/020

Subject:

Banking Business cycles Economic growth Financial institutions Financial markets Industrial production National accounts Production Real exports Stock markets Stocks