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Capital formation and productivity growth in South Korea and Taiwan : Realising the catch-up potential in a world of diminishing returns

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  • Capital formation and productivity growth in South Korea and Taiwan
  • Timmer, Marcel; Ark, Bart van
  • University of Groningen


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Title Capital formation and productivity growth in South Korea and Taiwan
Similar Titles
Sub Title

Realising the catch-up potential in a world of diminishing returns

Material Type Articles
Author(English)

Timmer, Marcel; Ark, Bart van

Publisher

[Groningen]:University of Groningen

Date 2000-03
Pages 31
Subject Country South Korea(Asia and Pacific)
Taiwan(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Industry and Technology < General
Holding University of Groningen

Abstract

In this paper we reconstruct the non-residential capital stock of South Korea and Taiwan based on long-term series of investment in non-residential buildings and machinery and equipment. Secondly, we looked at the impact of capital input measures, using a stock as a well a flow measure of capital, on total factor productivity growth. Finally, to assess the potential for continued catch-up of the emerging economies towards productivity levels of the more advanced countries, we analyse capital-output ratios and the change in comparative levels of capital intensity and labour productivity. For both countries we find a rapid growth of the capital stock for the total economy and for manufacturing, with growth rates that peaked between the mid-1960s and the mid-1980s. (The rest omitted)