Values of Household Production in Korea Compared to U.S., Australia, Finland, and Canada: An Analysis from a Cross-National Comparative Perspective

This paper utilized a Korean time-use survey and household expenditure survey in designing an input-output table to develop satellite accounts of household production in Korea in 1999. Additionally, the household production in Korea was compared with that in the United States, Australia, Finland, and Canada. Results of this study may be summarized as follows. First, household production in Korea represented $43\%$ of Gross Domestic Product (GDP,) compared to $63\%$ of GDP in the United States, $68\%$ in Australia, $58\%$ in Finland, and $54\%$ in Canada. Second, labor emerged as the largest input for household production in Korea, while materials and services - both intermediate goods - emerged as the second input. On the other hand, the proportion of housing among the four inputs of household production in Korea was greater than for either the United States or the other countries studied. This implies that the cost of intermediate goods and housing in Korea is more expensive than in other countries.