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Strategies for improving technology commercialization in the Korean public R&D sector

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Frame of Image hnology Commercialization in the Korean Public R&D Sector
bridging the gap between new technologies and venture capital. Based on these policy directions, the article suggests a variety of strategies to be considered for enhanced TC in Korea’s context.
1. Introduction
Solow (1956, 1957) concluded that technological progress accounted for 80% of the growth in output per worker between 1909 and 1949 in the U.S. A c c o r d i n g to existing studies including Solow’s works, it is largely acknowledged that technological progress is a vital source of economic growth and that R&D is a vital source of technological progress. Technological progress is measured by total factor productivity (TFP). The contribution of R&D to TFP growth is the elasticity of output for R&D that is translated into commercialization of R&D, multiplied by the rate of growth of R&D input (Jamison and Jansen, 2001). Since 1980, it has been more widely recognized that programs to increase the elasticity of output for R&D may be an effective means to realize a larger return on R&D investment. Therefore, the attention on commercialization of
Mar. / Apr.┃2008┃Vol 13┃No 2
27
public research has spread worldwide since. As the world economy has been shifting into a knowledge-based economy since the late 1990s, the Korean gover nment started to move its policy direction from technology-push innovation to market-pull innovation. It is shown that the majority of TFP growth during the period 1970-2004 in Korea was accoun


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Title Strategies for improving technology commercialization in the Korean public R&D sector
Similar Titles
Material Type Reports
Author(English)

Park, Jong-Bok

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2008
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 13(no. 2)
Pages 13
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Science/Technology
Holding KIET; KDI School

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