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Total factor productivity in Korea and international comparison : Data structure and productivity estimates of Korea industrial productivity database

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  • Total factor productivity in Korea and international comparison
  • Chun, Hyunbae; Pyo, Hak K.; Rhee, Keun Hee
  • Harvard University


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Title Total factor productivity in Korea and international comparison
Similar Titles
Sub Title

Data structure and productivity estimates of Korea industrial productivity database

Material Type Proceedings
Author(English)

Chun, Hyunbae; Pyo, Hak K.; Rhee, Keun Hee

Publisher

[Cambridge, U.S.]:Harvard University

Date 2008-05
Event

The 2008 World Congress on National Accounts and Economic Performance Measures for Nations

Pages 30
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Industry and Technology < Others
Holding Harvard University

Abstract

The purpose of our study is to identify the sources of economic growth for the Republic of Korea, which experienced a financial crisis in 1997 after joining OECD. We report estimates of output, input, and productivity based on the newly constructed Korea Industrial Productivity (KIP) database following EU KLEMS project guidelines. We find that Korea’s catch-up process with industrial nations in its late industrialization has been predominantly input-led and manufacturing-based. However, since its financial crisis in December 1997, the sources of growth seem to have switched to productivity-growth based. But lower productivity in service industries seems to work against finding renewed sustainable growth path.