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Do intangibles contribute to productivity growth in East Asian countries? : Evidence from Japan and Korea

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  • Do intangibles contribute to productivity growth in East Asian countries?
  • Chun, Hyunbae; Miyagawa, Tsutomu; Pyo, Hak Kil et al.
  • The Research Institute of Economy, Trade and Industry


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Title Do intangibles contribute to productivity growth in East Asian countries?
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Sub Title

Evidence from Japan and Korea

Material Type Reports
Author(English)

Chun, Hyunbae; Miyagawa, Tsutomu; Pyo, Hak Kil et al.

Publisher

[Tokyo]:The Research Institute of Economy, Trade and Industry

Date 2015-05
Series Title; No RIETI Discussion Paper Series / 15-E-055
Subject Country Japan(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Direct Investment
Industry and Technology < IT
Holding RIETI

Abstract

Using the Japan Industrial Productivity (JIP) and the Korea Industrial Productivity (KIP) databases and other primary statistics in Japan and Korea, we estimate intangible investment in Japan and Korea at the industry-level. Comparing our estimates from two-country data, we find that the growth in intangible investment in Korea has exceeded that in Japan in the past 30 years. Intangible investment/gross value added (GVA) ratios in the machinery industries in Japan are higher than in Korea, because Japanese machinery industries are research and development (R&D) intensive. On the other hand, ratios in some service industries in Korea are higher than in Japan, because Korean service industries are information and communications technology (ICT)-intensive. When we conduct growth accounting analysis with intangibles, we find that the contribution of intangible investment to economic growth after 1995 in Japan decreased significantly. (The rest omitted)