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Performance of the services sector in Korea : An empirical investigation
- Performance of the services sector in Korea
- Park, Donghyun; Shin, Kwanho
- Peterson Institute for International Economics
| Title |
Performance of the services sector in Korea
Similar Titles
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|---|---|
| Sub Title | An empirical investigation |
| Material Type | Reports |
| Author(English) |
Park, Donghyun; Shin, Kwanho |
| Publisher |
Washington, DC : Peterson Institute for International Economics |
| Date | 2012-10 |
| Series Title; No | Working Paper / 12-20 |
| Pages | 34 |
| Subject Country | South Korea(Asia and Pacific) |
| Language | English |
| File Type | Link |
| Original Format | |
| Subject | Industry and Technology < General |
| Holding | IIE |
| License |  |
Abstract
There is a widespread perception that Korea’s services sector lags behind its dynamic world-class manufacturing sector. We empirically analyze the past performance of Korea’s services sector in order to assess its prospects as an engine of growth. Our analysis resoundingly confirms the conventional wisdom of an underperforming service sector. In light of Korea’s high income and development level, the poor performance of modern services is of particular concern. We identify a number of factors underlying the poor performance, and set forth policy recommendations for addressing them. Overall, Korea faces a challenging but navigable road ahead in developing a high value-added services sector.
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