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Measuring the evolution of Korea's material living standards 1980-2010 : Korea

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  • Measuring the evolution of Korea's material living standards 1980-2010
  • OECD
  • Organisation for Economic Co-operation and Development


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Title Measuring the evolution of Korea's material living standards 1980-2010
Similar Titles
Sub Title

Korea

Material Type Book
Author(English)

OECD

Publisher

[Paris, France] : Organisation for Economic Co-operation and Development

Date 2012-04
Series Title; No OECD statistics working papers / 2012/02
Pages 26
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Holding OECD
License

Abstract

Based on a production-theoretic framework, we measure the effects of real output prices, primary inputs, multi-factor productivity growth, and depreciation on Korea’s real net income growth over the past 30 years. The empirical analysis is based on a new dataset for Korea with detailed information on labour and capital inputs, including series on land and inventories assets. We find that while over the entire period, capital and labour inputs explain the bulk of Korean real income growth, productivity growth has come to play an increasingly important role since the mid-1990s, providing some evidence of a transition from ‘input-led’ to ‘productivity-led’ growth. Terms of trade and other price effects were modest over the longer period, but had significant real income effects over sub-periods. Overall, real depreciation had only limited effects except during periods of crises where it bore negatively on real net income growth.