[학술논문] Economic Growth and Trade of North Korea with China: Cointegration and Granger Causality Test

This paper uses cointegration tests and the Vector Error Correction Model ( VECM) to examine causality between Sino–North Korean trade and North Korean economic growth from 1970 to 2012. To conduct empirical analysis, VECM is constructed, which is composed of four variables, North Korean GDP, imported capital as a proxy for investment, exports to China, and imports from China. The cointegration...