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Micro-dynamics of industrial competition : Evidence from Korean manufacturing plants

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Frame of Image  of this paper. I would also like to thank Jeong Sam Yang for his invaluable data processing help and Soo Kyung Lee for preparing the manuscript.
KDI Policy Study 2000-05 ⓒ December 2000 Korea Development Institute 207-41, Cheongnyangni-dong, Dongdaemun-gu P.O. Box 113, Cheongnyang Seoul, Korea Price:₩4,000 ISBN 89-8063-103-0
Foreword
Since the 1997economic crisis, firms have failed, and workers have lost their jobs. Because some surviving firms still have high debts and chronic losses, many of these firms are expected to fail as well. People have argued that corporate restructuring improves efficiency as weak, failing firms exit. However, we have observed that policy makers are still trying to save failing firms by giving them more money. So the question arises, should we try to save these failing firms? Or, should we let them to fail? Sung Wook Joh of the Korea Development Institute (KDI) provides an insightful article that addresses this issue. By documenting why firm entries and exits occur and whether it improves efficiency, Joh implies that government policies supporting failing firms to maintain jobs cause inefficiency. Through empirical analysis of Korean manufacturing census data, Joh examines how macro-, industry- and plant-level factors affect plant entries and exits. In addition, Joh also documents that the performance of entrants and dying plants was the study also shows continual replacement of inefficient producers by efficient producers. lower than that of con


Full Text
Title Micro-dynamics of industrial competition
Similar Titles
Sub Title

Evidence from Korean manufacturing plants

Material Type Reports
Author(English)

Joh, Sung Wook

Publisher

Seoul:Korea Development Institute

Date 2000-12
Pages 78
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Conditions
Industry and Technology < Manufacturing
Holding Korea Development Institute