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International competitiveness : A comparison of the manufacturing sectors in Korea and Japan

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  • International competitiveness
  • Fukao, Kyoji; Ikeuchi, Kenta; Kim, YoungGak; Kwon, Hyeog Ug; Makino, Tatsuji
  • Seoul National University


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Title International competitiveness
Similar Titles
Sub Title

A comparison of the manufacturing sectors in Korea and Japan

Material Type Articles
Author(English)

Fukao, Kyoji; Ikeuchi, Kenta; Kim, YoungGak; Kwon, Hyeog Ug; Makino, Tatsuji

Publisher

[Seoul, Korea]:Seoul National University

Date 2016-02
Journal Title; Vol./Issue Seoul Journal of Economics:vol. 26(no. 1)
Pages 26
Subject Country Japan(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Industry and Technology < Manufacturing
Holding Seoul National University

Abstract

Using firm-level data covering most firms in the manufacturing sectors of Korea and Japan, we compiled a new dataset of TFP and factor costs by firm size and industry. Employing this dataset, we quantitatively examine changes in the two countries’ relative com- petitiveness. Following Dekle, and Fukao’s (2011) approach based on production cost functions, we decompose intertemporal changes in the relative competitiveness of Korean firms vis-à-vis Japanese firms into four factors: (1) differences in TFP growth (catching up of Korean firms); (2) changes in relative factor prices; (3) changes in relative intermediate input prices; and (4) changes in real exchange rates. Using our new dataset, we also compare changes in the two countries’ competitiveness by different firm-size groups. We find that during the period of 1994-2010, the real wage rate of Korean workers doubled in most industries. (The rest omitted)