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Electrification, productivity growth, and firm heterogeneity in Korean manufacturing plants

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Frame of Image cation affects firm productivity. This study of the relationship between electrification and firm productivity suggests several policy implications related to the price, demand and supply of electricity, and energy efficiency.
2. S ummary
In previous studies, there are two streams of examining the relationship between energy and economic growth. One stream is to identify the causality between energy and economic growth using time series analysis on an aggregated level, and the other is to recognize electricity as one of the key factors in productivity growth. Previous studies have certain limitations in identifying the effect of energy on economic growth. For example, energy is closely correlated to capital, and the dataset used in the research is too aggregated and small to achieve unbiased and consistent results. Moreover, these studies do
Abstract i
not consider the effects on firm productivity caused by the change in energy form (i.e. electrification). In other words, earlier studies focus only on the quantity of energy, even though the quality of energy is the critical factor in determining the degree of economic growth. In the current research, we have tried to overcome the limitations of previous studies both with a large-scale dataset at the plant level and by focusing on the quality of energy. First, our theoretical model explains how a rising share of electricity affects firm productivity using an endogenous growth model. Two important predictions relating to a firm


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Title Electrification, productivity growth, and firm heterogeneity in Korean manufacturing plants
Similar Titles
Material Type Reports
Author(English)

Jung, Yonghun

Publisher

[Uiwang]:Korea Energy Economics Institute

Date 2011-12
Pages 86
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Energy
Holding Korea Energy Economics Institute

Abstract

The purpose of this study is to empiricaly verify the efects of a rising share of electricity on firm productivity, using census data of Korean manufacturing plants. To conduct this research, we first identify the theoretical model that explains how electrification afects firm productivity. This study of the relationship betwen electrification and firm productivity sugests several policy implications related to the price, demand and suply of electricity, and energy eficiency. (The rest omitted)