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The impact of R&D investment on scientists and engineers in Korea

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One of the classical studies analyzing the effects of R&D investment on economic consequences including wages and working hours of scientists and researchers is Goolsbee’s 1994 study. This study used CPS data from 1968 to 1994 to reveal that an increase in R&D investment led primarily to an increase in scientists’ and engineers’ wages in the U.S. He attributed this to inelasticity in the supply of scientists and engineers; because an increase in the numbers of them was limited, an increase in R&D investment translated mostly into an increase in their wages. In contrast to the U.S. in the 1980s and 1990s, Korea is currently beset with a flood of scientists and engineers, leading to a problem of how best they can be utilized. While there is no shortage of scientists and engineers in Korea, there has been criticism that their overall quality is in decline, due to the fact that quality students are not going into science and engineering. Therefore, an increase in science and engineering wages may persuade some of these students into studying science and engineering. Using such insights, this paper analyzes how R&D investment since 2000 has affected wages of scientists and engineers in Korea.
2. R&D Investment and the Supply of Scientists and Engineers
Total R&D investment grew at a brisk annual rate of 12.1% from 13.8 trillion won(in 2000) to 34.5 trillion won(in 2008). Government funding for R&D grew at an annual rate of 11.7% on average from 2000 to 2008,


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Title The impact of R&D investment on scientists and engineers in Korea
Similar Titles
Material Type Reports
Author(English)

Choi, Heeson

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2011
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 15(no. 6)
Pages 12
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < General
Social Development < Employment
Holding KDI School of Public Policy and Management

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