콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Economic Administration
Industry and Technology General

Print

From capital-drive to knowledge-driven growth in Korea

Related Document
Frame of Image
  • From capital-drive to knowledge-driven growth in Korea
  • Lee, Keun
  • The Association of Korean Economic Studies


link
Title From capital-drive to knowledge-driven growth in Korea
Similar Titles
Material Type Articles
Author(English)

Lee, Keun

Publisher

[Seoul]:The Association of Korean Economic Studies

Date 2000
Journal Title; Vol./Issue The Journal of the Korean Economy:vol. 1(no. 1)
Pages 30
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Industry and Technology < General
Holding The Association of Korean Economic Studies

Abstract

Utilizing insights from new growth theory, Porter's competitive advantage theory, and Kojima's theory of DFI, this paper analyzes the overall growth mechanism of the Korean economy by integrating various dimensions, such as factor intensity changes, sectoral growth, trade performance, and direct foreign investment. This paper points out "knowledge accumulation" as one of the engines of growth in the Korean economy, and shows that although knowledge intensity has steadily increased over the last decade, Korean industrial growth is still dominated by physical capital accumulation. Then, the problem with the Korean economy is that the fast growing sectors are mostly capital, albeit not necessarily knowledge intensive sectors. This is not a desirable pattern of industrial change since high capital intensity eventually leads to declining profitability. Another problem is with weak national competitiveness, which is implied by the negative correlation between the value-added per worker of sectors and their shares in world export.