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Knowledge capital and export growth in Korean manufacturing industries

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Frame of Image athering statistical information and in answering questions about the data. I would like to thank Yi Houn Jung for her help. I am also gratefully acknowledge the financial support of the Korea Institute for Industrial Economics and Trade in Seoul, Korea.
Korea Institute for Industrial Economics and Trade (KIET)
206-9, Cheongnyangni-Dong, Dongdaemun-Gu, Seoul 130-742, Korea T E L:(82)(2)3299-3114 FAX:(82)(2) 963-8540 http://www.kiet.re.kr
ISBN 978-89-5992-120-1 93320
i
Contents
Abstract ··································································································· 1 Ⅰ. Introduction ················································································· 3 Ⅱ. Measurement of Total Factor Productivity ······························ 7
1. Total Factor Productivity ····································································· 7 2. Data Sources and Generation ······························································· 8 (1) Real Output and Materials ···························································· 12 (2) Labor Hours worked and Labor Cost ··········································· 13 (3) Capital Stock ···················································································· 16 3. The Estimation of TFP ······································································ 26 (1) The TFP Estimation with the Share Estimates from the National Accounts ·························································· 29 4. The Leve


Full Text
Title Knowledge capital and export growth in Korean manufacturing industries
Similar Titles
Material Type Reports
Author(English)

Kwack, Sung Yeung

Publisher

Korea Institute for Industrial Economics and Trade

Date 2007-06
Pages 186
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Industry and Technology < Manufacturing

Abstract

The most developed industrial countries have been entering the stage of a postindustrial society and production structure. At this stage, knowledge replaces capital and ideas replace manual labor. Knowledge and ideas are the key determinants of the production costs and economic growth. The cost of production not only depends on the cost of materials, labor and capital, but more critically on the amount of knowledge capital. Knowledge also reduces the cost of production by introducing new innovations and raising the quality of institutions. Hence, the comparative cost of an industrial economy is greatly dependent upon the cumulative knowledge stock; the industrial country in an open world economy tends to export more knowledge intensive goods.
In this paper, knowledge capital can be approximated operationally by total factor productivity(TFP) and labor skills. The focus of this study is on the role of knowledge capital in international trade. (The rest omitted)