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Technological progress, structural change and productivity growth in manufacturing sector of South Korea

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Frame of Image quarie University Address: Ritsumeikan Asia Pacific University Beppu, Oita 874-8577 JAPAN E-mail: dsinha@apu.ac.jp dipendra.sinha@gmail.com Abstract : This paper looks at the relationship between patents and economic growth in Japan and South Korea using both individual country and panel data. For the econometric estimation, we use annual data for 1963-2005. For Japan, we find that the logarithms of real GDP and the number of patents are cointegrated. For South Korea, we do find such evidence. For Japan, we find a two-way causality between the growth of real GDP and the growth of the number of patents. For panel data, we find that the logarithms of real GDP and the number of patents are cointegrated. We find some evidence that the growth of real GDP Granger causes the growth of the number of patents. However, we do not find any evidence of reverse causality. JEL Classification: C22, C23, O31
I. Introduction Both Japan and South Korea achieved very high rate of growth for a sustained period during the post-second world war era. The average growth rate of real GDP for Japan during 1955-2005 was 4.52%. Table 1 shows the average growth rate of GDP of Japan by decades for 1955-2005. As it can be seen from the table, the growth rate was particularly high during the 1950s and 1960s. The average growth rate of real GDP for South Korea during 1955-2005 was 6.59%. Table 2 shows the average growth rate of GDP of South Korea by the decades for 1955-2005. The average growth rate was parti


Full Text
Title Technological progress, structural change and productivity growth in manufacturing sector of South Korea
Similar Titles
Material Type Reports
Author(English)

Singh, Lakhwinder

Publisher

Punjabi University

Date 2004
Pages 23
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Manufacturing
Industry and Technology < Science/Technology

Abstract

This paper focuses on the impact of technology and structural change on the aggregate productivity growth in the manufacturing sector of South Korea, using the eight firm size classes over the period 1970-2000. The conventional shift-share analysis is used to measure the impact of shift of both labour and capital inputs. The results show that structural change on an average was conducive to productivity growth during the 1970s and this pattern reversed afterwards. Small and medium industries were more dynamic in terms of reallocation of resources; however, the dominance of large-sized firms in the manufacturing sector outweighed the positive impact of that reallocation. Deliberate state policy favouring large-sized firms has impeded the restructuring process facilitated by technical progress, the penalty for which has been paid in terms of forgone growth.