Whether a country's exports consist mainly of manufactures or mainly of primary products depends fundamentally on the skills of its labour force, relative to the extent of its natural resources. This proposition, derived from a modified version of Heckscher-Ohlin theory, is supported by a strong...

This paper examines the terms of trade for South Korea's trade in manufactures with developed and developing countries separately, using primary data for the construction of indices which cover the period 1976-95. During this period, there was no significant trend in South Korea's net barter...