slowdown is structural or cyclical. I provide two concrete evidence that the export drop in 2015 stems from low oil prices: one … is the divergence of Korean export value index from its export quantity index, which started in late 2014 when oil prices … are steadily increasing since 2012 as the protectionist measures toward Korea's export products are steeply increasing …

real estate boom had an adverse impact on country's export performance. For that purpose we use quarterly data ranging from … 1Q1998 to 3Q2013, and estimate export equations using maximum likelihood and dynamic ordinary least squares estimators … (construction and real estate), which is a direct by-product of the real estate boom, has had stifling effects on export performance …