The impact of technology imports on technology balance of payments in Korea: an ARDL bounds testing approach |
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Authors: | Cheolmin Pak Bonchul Ku |
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Institution: | 1. Department of Science and Technology Management Policy, University of Science &2. Technology;3. Strategy &4. Policy Team, Institute for Basic Science, Daejeon, Republic of Korea |
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Abstract: | This study empirically analyses the impact of technology imports on the technology balance of payments in Korea during 1981–2013 using the autoregressive distributed lag bounds testing approach of co-integration. We estimate the long- and short-run coefficients of the technology balance of payments with respect to technology imports. The results show that technology imports produce positive effects on the technology balance of payments in the long run, although it has negative effects in the short run. |
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Keywords: | Technology imports technology balance of payments ARDL ECM |
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