Revisiting the Export‐Led Growth Hypothesis in Korea: New Insights From the Quantile ARDL Approach
Asian-Pacific Economic Literature
Published online on October 29, 2025
Abstract
["Asian-Pacific Economic Literature, EarlyView. ", "\nABSTRACT\nThis study examines the export‐led growth (ELG) hypothesis in Korea by considering possible nonlinearity. Utilising yearly data from 1990 to 2020 and the quantile autoregressive distributed lag (ARDL) model, we find long‐run nonlinearity between exports and economic growth. Specifically, the marginal long‐run effect of exports shows a decreasing trend with the quantiles. In the long term, capital is positively associated with economic growth. Additionally, the marginal long‐run effect of capital shows an increasing trend with the quantiles. On the other hand, labour does not have a long‐run relationship with economic growth, except in the 70th and 80th quantiles. Our study provides some contributions and implications for previous studies on the ELG hypothesis based on the long‐run nonlinearity in exports, capital, and labour.\n"]