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Macroeconomic consequence of deindustrialization : The case of Korea in the 1990's

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Contents
Abstract ······································································································· 1 Ⅰ. Introduction ···························································································· 3 Ⅱ. Deindustrialization in the Korean Economy ·································· 7 Ⅲ. The Effect of Deindustrialization on Economic Growth ·········· 15
1. Deindustrialization and Economic Growth ········································· 17 2. Method of Estimation ·········································································· 18 3. Data ······································································································· 29 4. Results of Estimation ·········································································· 29
Ⅳ. The Effect of Deindustrialization on Business Cycles ············· 33 Ⅴ. Policy Implication and Conclusion ················································· 39 References ··································································································· 43
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Table Contents
Table 1. The Shifts of Labor due to Deindustrialization(%) ··············· 11 Table 2. The Effect of Deindustrialization on Economic Growth:Estimation Results(%) ·························· 31 Table 3. The Volatility of Sectoral Employment Growth ···················· 36 Table 4. The Contribution of Deindustrialization to the Stabilization of Employment Fluctuation during the 1990's ·····


Full Text
Title Macroeconomic consequence of deindustrialization
Similar Titles
Sub Title

The case of Korea in the 1990's

Material Type Reports
Author(English)

Kang, Du-Yong

Publisher

Korea Institute for Industrial Economics and Trade

Date 2004-10
Pages 41
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic System
Industry and Technology < General

Abstract

Deindustrialization affects economic growth and fluctuation because both productivity growth and volatility are different between the industrial sector and the service sector. This paper investigates the effect of deindustrialization in the Korean economy on its growth and fluctuation. The estimation shows that the one year labor shift effect is a 0.2%p (narrow manufacturing)∼0.45%p(broad manufacturing) decrease in annual average economic growth, and the cumulative labor shift effect is a 0.4%p∼0.6%p decrease. Meanwhile, comparing the year 2000 with the year before the start of deindustrialization, it is estimated that deindustrialization reduced the volatility of employment by about 10%.