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An Analytical Study Of The Short-Run Variability Of Korea's Balance Of Payments, 1961-85: Application Of Keynesian And Monetary Approaches To The Problem, Dong Yeub Kim

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

The relationships among the balance of payments and other macroeconomic variables in the Korean economy for the period 1961-85 are analyzed in this study. Theoretical studies on the effects of government policies on the economy and the balance of payments were conducted under both the Keynesian and monetary approaches. The Keynesian approach concentrates on the commodity and capital market adjustment factors and does not focus on the money market factors, whereas the monetary approach considers the balance of payments adjustments as a symptom of money market disequilibrium alone.

The basic assumptions of those two approaches, taken seperately, are not fully …