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The relationship between investment and employment

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Frame of Image s of a rebound in the Korean economy after the crisis, the growth rate of investment still remained low, at 3.1% after 2000, as an annual average rate. Huh(2008)1) notes that the recent decrease in employment creation is mainly caused by lower economic growth rather than a change in a growth elasticity of employment. On the other hand, Kim(2008)2) suggests that even if economy and investment grow more rapidly, it may not be possible to attain the degree of employment creation as in the past because of the change in the indus-
trial structure and structural problems of the labor market. Besides the above issues, Ha(2008)3) raises an important question of whether it is desirable and/or possible for policy makers to encourage investment activities, especially in the long-run. First, it is reasonable that a slowdown of investment since 2000 is considered a reaction to adjust for excess investment by the middle of the 1990s. Second, although investment rates have decreased since the 1990s, they are still higher than those of other developed countries. In addition, he emphasizes the transition of the Korean economy towards an innovation-driven economy, and therefore suggests expanding innovative investment rather than physical investment. Therefore, this paper investigates the relationship between investment and employment considering innovation such as TFP4)(Total Factor Productivity). That is, the role of innovation in increasing employment and investment will be identified. Also


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Title The relationship between investment and employment
Similar Titles
Material Type Reports
Author(English)

Kim, Jin Woong; Kim Won-Kyu

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2009
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 13(no. 6)
Pages 7
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Macroeconomics
Economy < Direct Investment
Holding KIET; KDI School

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