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Intangible investment and changing sources of growth in Korea

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  • Intangible investment and changing sources of growth in Korea
  • Chun, Hyunbae; Nadiri, M. Ishaq
  • John Wiley & Sons Australia, Ltd


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Title Intangible investment and changing sources of growth in Korea
Similar Titles
Material Type Articles
Author(English)

Chun, Hyunbae; Nadiri, M. Ishaq

Publisher

[Brisbane, Australia]:John Wiley & Sons Australia, Ltd

Date 2016-03
Journal Title; Vol./Issue The Japanese Economic Review:vol. 67(issue 1)
Pages 27
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Social Development < Employment
Holding John Wiley & Sons Australia, Ltd

Abstract

We examine how intangible investments change the sources of growth in the Korean economy. After constructing a novel industry-level data set on intangibles, we estimate the contribution of intangible-intensive industries and other industries to aggregate productivity growth in 1981–2008. The contribution of intangible-intensive industries to aggregate labour productivity growth has significantly increased, whereas that of other industries has substantially decreased. The increased contribution of intangible-intensive industries is mainly associated with total factor productivity growth rather than with input growth. This suggests that innovations related to intangible investments in these industries might become a new key source of productivity growth in Korea.