Download or read book Productivity Growth and Efficiency Dynamics of Korean Structural Transformation written by Hyeok Jeong and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Growth and Structural Transformation written by Kwang Suk Kim and published by Harvard University Press. This book was released on 1979 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study provides a comprehensive overview of Korea's macroeconomic growth and structural change since World War II. The authors explore in detail colonial development, changing national income patterns, relative price shifts, sources of aggregate growth, and sources of sectoral structural change, comparing them with other countries.
Download or read book From Firm Level Imports to Aggregate Productivity written by Mr.JaeBin Ahn and published by International Monetary Fund. This book was released on 2016-09-06 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the Korean manufacturing firm-level data, this paper confirms that three stylized facts on importing hold in Korea: the ratio of imported inputs in total inputs tends to be procyclical; the use of imported inputs increases productivity; and larger firms are more likely to use imported inputs. As a result, we find that firm-level import decisions explain a non-trivial fraction of aggregate productivity fluctuations in Korea over the period between 2006 and 2012. Main findings of this paper suggest a possible link between the recent global productivity slowdown and the global trade slowdown.
Download or read book Long term Shifts in Korean Manufacturing and Plant level Productivity Dynamics written by Yoonsoo Lee and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Innovative Korea written by Hoon Sahib Soh and published by World Bank Publications. This book was released on 2023-08-25 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Republic of Korea today is a highly industrialized, global leader in innovation and technology. It is the 10th largest economy in the world and has a per capita income approaching the average of OECD countries. In the 1950s, however, it was one of the world’s poorest countries, with decidedly bleak prospects. Its transformation has made Korea a well-known case study of successful development. Innovative Korea: Leveraging Innovation and Technology for Development summarizes the sources of Korea’s remarkable growth and the policies and institutional reforms that made it possible. The report focuses on Korea’s successful transition from a middle-income to a high-income economy. Korea escaped from the “middle-income trap†? by fundamentally transforming its growth paradigm to a more private-sector-led model emphasizing market competition, innovation, and technology. Compared to the previous emphasis on large fi rms and industries, the government became more focused on promoting small and medium enterprises and technology entrepreneurs. Exports expanded significantly through greater integration in global value chains. Already-high levels of human capital development were complemented by an expanded social safety net and a more integrated approach to education and training. Korea succeeded by focusing on the foundations of long-run growth, building global capabilities in innovation and technology, and adapting and evolving its growth paradigm to promote new sources of growth. Innovative Korea, jointly prepared by the World Bank and the Korea Development Institute, provides useful insights on Korea’s development story and practical lessons for public policy making.
Download or read book China s Productivity Convergence and Growth Potential A Stocktaking and Sectoral Approach written by Min Zhu and published by International Monetary Fund. This book was released on 2019-11-27 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s growth potential has become a hotly debated topic as the economy has reached an income level susceptible to the “middle-income trap” and financial vulnerabilities are mounting after years of rapid credit expansion. However, the existing literature has largely focused on macro level aggregates, which are ill suited to understanding China’s significant structural transformation and its impact on economic growth. To fill the gap, this paper takes a deep dive into China’s convergence progress in 38 industrial sectors and 11 services sectors, examines past sectoral transitions, and predicts future shifts. We find that China’s productivity convergence remains at an early stage, with the industrial sector more advanced than services. Large variations exist among subsectors, with high-tech industrial sectors, in particular the ICT sector, lagging low-tech sectors. Going forward, ample room remains for further convergence, but the shrinking distance to the frontier, the structural shift from industry to services, and demographic changes will put sustained downward pressure on growth, which could slow to 5 percent by 2025 and 4 percent by 2030. Digitalization, SOE reform, and services sector opening up could be three major forces boosting future growth, while the risks of a financial crisis and a reversal in global integration in trade and technology could slow the pace of convergence.
Download or read book The Decline of Korean Industrial Vitality as Shown by the Structural Change Index written by Geonwoo Lee and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proportion of added value in Korean manufacturing has remained stable without major changes since the 1990s, and the same was true for the nation's service sector in the 2010s. But the structural change index (SCI), which measures the vitality or dynamism of industry as a whole, shows that the extent of structural change in domestic sectors has steadily declined over time. The continued decline in dynamism could sap Korean industry of its vitality and have a negative impact on productivity and economic growth through owing to less efficient resource distribution.This paper conducts an empirical analysis of the 30 member countries of the Organization forEconomic Cooperation and Development (OECD). The findings show a relatively strong positive correlation between SCI levels and the rate of economic growth. The paper describes implications for industrial policy carried by these findings.
Download or read book Korea s Paradigm Shift for Sustainable and Inclusive Growth A Proposal written by Yangkyoon Byeon and published by International Monetary Fund. This book was released on 2017-11-20 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Korea is facing mounting economic challenges. Productivity growth has been on a trend decline amid demographic headwinds, while the societal demand for inclusive growth has been on a steep rise. Furthermore, the government-led unbalanced growth model—which served Korea well in the past—has become less effective and politically palatable in recent years. As such, Korea needs a major paradigm shift to embark on a new sustainable and inclusive growth path. But policy response has been modest at best with no major reforms being implemented over the past two decades. We propose a paradigm shift in Korea’s economic framework, involving a simultaneous big push for greater economic freedom and stronger social protection within the parameters set by long-run fiscal sustainability. We also provide a detailed account of structural reforms to boost economic freedom and sustainable funding plans for stronger social protection.
Download or read book The Growth Process in East Asian Manufacturing Industries written by Chia-Hung Sun and published by Edward Elgar Publishing. This book was released on 2004 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This book contains the most comprehensive analysis that I have seen of growth dynamics in East Asian manufacturing industries. It reviews most of the previous work published on this subject and also presents an original analyses of growth based on data disaggregated to the 3 digit ISIC level. As far as I am aware, it also uses state-of-the-art theory and estimation techniques to carry out the analysis. In short it presents a thorough coverage of a topic of great interest to growth economists and those interested in understanding the phenomenon of East Asian growth.' - G. Chris Rodrigo, Independent consultant presently on assignment with UNIDO Although it has been previously accepted that Hong Kong, Japan, Korea, Singapore, and Taiwan have achieved the 'economic miracle' of maintaining high economic growth for several decades prior to the Asian financial crisis, recent literature has now cast doubt upon this economic supposed success. Attempting to overcome methodological limitations and underlying assumptions of other studies, The Growth Process in East Asian Manufacturing Industries re-examines the role of total factor productivity (TFP) growth and aims to identify the sources of output growth in these East Asian economies. Chia-Hung Sun aims to explain how TFP growth differs from technological progress, and demonstrates why this study favours the use of the varying coefficients frontier model rather than the conventional scholastic frontier approach. He goes on to statistically test whether manufacturing industries in East Asia homogeneously applied the best practice production technology, and investigates the TFP growth slowdown in East Asian manufacturing sectors. Potential links between technological progress (or technological efficiency change) and structural transformation are considered, and the growth in high-tech and low-tech industries are compared. Using sensitivity tests to consolidate the findings of this study and a comparison with earlier TFP studies for each of the five economies analysed, this book will be a valuable point of reference for economists, researchers and policymakers specialising in Asian economies. Advanced undergraduate and post-graduate students in economic development and economic growth will also find the book of great interest.
Download or read book Aggregate Productivity Growth and Firm Dynamics in Korean Manufacturing 2007 2017 written by Kyoo Il Kim and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Productivity Analysis on the Service Sector in Korea written by Hak K. Pyo and published by . This book was released on 2018 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most dramatic characterizations of late industrialization is the speed and scope of structural transformation from manufacturing-based to service-based economy. This study aims to analyze this transformation in the Korean economy in terms of productivity performance in its service sector over the period of 1995-2013 in which the economy experienced two financial crises in the years 1997 and 2007. The major finding is that, while the growth rate of gross output in the service sector has decelerated more rapidly than in the manufacturing sector, the growth rate of total factor productivity (TFP) has improved from near 0% during 1996-2010 to 1.41% during 2011-2013. Particularly, the improvement in TFP in distribution and producer services has been impressive, which indicates that the Korean economy is transforming itself toward a service-oriented growth and that two financial crises have helped such transformation. However, the relative level of TFP in the service sector remains to be far behind than that of the US and Japan.
Download or read book Total Factor Productivity Growth in Korean Industry and Its Relationship with Export Growth written by Sang-yirl Nam and published by 대외경제정책연구원. This book was released on 1999 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sustainability of Growth in the Korean Manufacturing Sector written by Chang Soo Lee and published by . This book was released on 1998 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Plant level View of Korea s Growth Miracle and Slowdown written by Munseob Lee and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the evolution of the plant size distribution, static allocative efficiency, and business dynamism of the Korean manufacturing sector during its growth miracle (1967-2000) and the subsequent slowdown since 2000. The average plant size has an inverse-U pattern over time, uncorrelated with the level or the growth rate of value-added per worker. The measure of static misallocation decreases modestly until 1983, consistent with the fast economic growth, but increases substantially afterwards, without a corresponding negative trend in manufacturing productivity. These results are seemingly at odds with existing cross-country evidence on the relationship between plant size and economic development, as well as the one between static allocative efficiency and development. In addition, business dynamism, measured by either churning or responsiveness to shocks, diminished significantly since 2000, coinciding with the slowdown in manufacturing productivity. Our findings call for more systematic research on how economic growth correlates with establishment/firm size distribution and with static and dynamic allocative efficiency.
Download or read book Aggregate Productivity Growth in Korean Manufacturing written by Minho Kim and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: I measure aggregate productivity growth in manufacturing between 1995 and 2013 as defined by Petrin and Levinsohn (2012). I decompose aggregate productivity growth into technical efficiency improvements, resource reallocations, and net entry effects. I find that aggregate productivity growth slows down after 2004 and that the rapid drop in technical efficiency growth contributed most to the decline. In this paper, I focus on the role of young plants with regard to productivity growth of Korean manufacturing. I show that young plants account for nearly half of APG (48%), while their value-added share is 14 percent on average between 1995 and 2013. I find that productivity growth at young plants has been declining for the last ten years. The lower growth of continuing young plants contributes to this trend. These results stress the important role of young plants in aggregate productivity growth and imply that understanding the dynamics of young plants is necessary to form effective start-up policies.
Download or read book Economic Growth Productivity and Trade written by Euysung Kim and published by . This book was released on 1996 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mechanical Properties of Growth Accounting written by Chang-Soo Lee and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
