• Korea Trade Review
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• v.46 no.1
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• pp.83-111
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• 2021

This paper conducts a Structural Dcomposition Analysis on the structure of factors contributing to the output growth of Korean Maritime and Port Industry during year 2000~ year 2017. Some of results are as follows. The output growth rates of the industry (yearly average 4.3%) was far lower than the average growth rates of Service as well as of Manufacturing Industries (yearly average 9% and 6.8%, respectively) due to the lower output growth of Maritime Industry. Among the growth contributing factors, change in domestic demand for final goods is the first contributing factor, and then change in technology, change in export and import substitution for intermediate goods are followed in order, but import substitution for final goods decreased its output. However, in each respective sub-periods of pre-global financial crisis and post-global financial crisis, change in the export, especially change in the export of Maritime Industry is the dominant determinant of output change in the Maritime and Port Industry in opposite ways. In the periods of the former the increase in the export of Maritime Industry overwhelmingly led the output growth of the Maritime and Port industry, but in the periods of the latter the decrease in its export was the culprit of lower output growth of the industry. On the other hand, among all industries of service and manufacturing sectors, Wholesale and Retail industry is the leading industry in contributing to the output growth of the Maritime and Port Industry, and Transportation Equipment industry is the leading industry among all manufacturing industries.

• Analyses & Alternatives
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• v.6 no.1
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• pp.195-222
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• 2022

From the economic development perspective, economic growth should accompany structural improvement in order to meet complex demands from a society. In the context of development economics, economic growth is critically dependent on successful structural advancement. The issue of structural change is also important for advanced economies as the landscape of modern industry is changing fast. Many advanced countries of slow growth are experiencing dawdling changes in industry structure. However, there is no definitive answer to the question of whether there is a causal relationship between structural change and growth. This study empirically assesses the relationship between structural change or 'speed' thereof and economic growth in developed countries of OECD. Rather than looking into the causes of structural changes, this study simply measures structural changes in OECD economies and examines if structural change is really contributing to growth. The reason why this study focuses on advanced countries of OECD is rather obvious; technological innovation and emergence of new industries pressure these countries to restructure their economies to address these new challenges though they are at stages well beyond conventional industrialization. And structural rigidity can always limit growth even in advanced countries. The main results of this study can be summarized as a positive relationship between 'change and growth'. 'Change' in this study refers to changes in the industrial structure based on value-added and was analyzed to have a close positive relationship with economic growth. This result is consistent with arguments of early development economists emphasizing structural upgrade as an indispensable process for growth and development. The result of this study potentially confirms that the main argument of development economics is valid also for advanced economies. One of our results suggests that business/professional services and social services should be main targets for restructuring for advanced economies. The rational may be that rapid convergence of manufacturing and services is a key for structural advancement in the era of new technologies. Obviously, as manufacturing technology and production are standardized, it is difficult to secure international competitiveness through traditional manufacturing alone and the role of R&D, design, logistics, and marketing is becoming more important.

• Environmental and Resource Economics Review
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• v.20 no.2
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• pp.255-289
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• 2011

This study made linked Energy IO Table 00-05-08 of 76 sectors in intermediate sectors and analyzed structural decomposition analysis in energy consumption change in industrial sector with both by aggregate data and micro data. Structural decomposition analysis focused value added level change, value added share change of each industry, output structural change of each industry and energy intensity change of each industry as factors. Supply side model based on Ghosh inverse matrix was applied as empirical model because Korea has export driven industrial structure. Empirical results with aggregate data showed that value added change increased energy consumption and output structural change of each industry decreased energy consumption in both 2000~2005 and 2005~2008. However value added share change and energy intensity change caused opposite direction in energy consumption change with time. Policy based on aggregate data can not evaluate effort of each industry in energy efficiency and make effective results because aggregate data delete character of each industry.

• Journal of Labour Economics
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• v.33 no.1
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• pp.85-107
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• 2010

In this article, since the financial crisis, Korean employment movement to service market, productivity gap between manufacturing and service industry was significant compared with other countries. The results from productivity decomposition show that negative structural changes, which employment increase is contrary to the productivity, have been intensified since the financial crisis. It is caused from a different developing pattern. While the proportion of employment was reduced, productivity has improved in manufacturing industry. While the developing was due to the high increase of the employment proportion in service industry, productivity was not improved significantly. This tendency is clearly revealed in international comparisons. In Korea the negative trend of structural changes in service industry are intensified compared to manufacturing industry after the financial crisis.

• The Journal of Fisheries Business Administration
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• v.36 no.3 s.69
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• pp.65-88
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• 2005

The fisheries industry has been changed drastically during the so - called Golden Growth Era of Korea. Recently, WTO/DDA agenda drove industries out of their safe refuges toward infinite competitions in the world. This paper aims at finding out distinguished features in the structural changes of fisheries since 70s. Furthermore, policy implications are investigated in order for the fisheries to survive in the outdoors. The paper consists of the following sections. First, we consider why and for what the structural change of fisheries in historical perspective should be investigated. And we introduce how we can approach to the goal in various aspects in the second section. In the third section, we examine the historical change of Korean fisheries in respect of national economy, resource allocation mechanism, industrial structure, and fisheries society. In the fourth section, we extract the development steps in fisheries from the periodic characteristics, using various methods of the above approaches. And we deduce the next step for Korean fisheries in the future. Finally, we conclude that there needs some turning point of fisheries policies in Korea, striving to foster the fisheries industry in the future. As results of empirical analysis in this paper, we find that fisheries industry in Korea has experienced some momentous changes during 30 years, using I/O data of B.O.K. The weight of fisheries sector in the whole economy of Korea increased during early 70s, initially leading the national economy to export - oriented engine for growth. But fisheries sector has shrunk rapidly since late 70s. Almost resources in Korea were allocated to expanding manufacturing industries. Further, fisheries industry has encountered perfect international competitions since the late 90s. This paper draws that fisheries industry in Korea will jump across to next step of qualitative growth in the future. Therefore, we recommend that the policies should be focused on enhancing the industrial competitiveness, switching quantitative growth to qualitative advance in fisheries.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.1
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• pp.13-24
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• 2022

The main goal of this study is to look at how South Korea can catch up to the rest of the world through policy-driven structural change and manufacturing revolutions. To achieve the objective, this study used annual data on real exports and real GDP from the World Development Indicator WDI of South Korea for the period 1960 to 2019. The study's goal is to use econometrics to detect this policy-driven structural change trend. Multiple nonlinear Granger causality test was used to accomplish this. The findings revealed structural breaks and nonlinearities in the dynamic link between South Korea's real GDP and real exports. Furthermore, results also show evidence of multiple structural breaks in South Korean data. South Korea's economic catch-up was the result of a constant reevaluation of industrial policies, readjustment, and structural change to constantly explore and utilize comparative advantage, realizing economies of scale at the global level, and reallocating and redistribution of resources towards productive sectors with high value-added output, according to econometric analysis. If South Korea would have not done this structural change this miracle to escape the middle-income trap would not have been possible. These findings support the descriptive evidence of structural change in favor of manufacturing revolutions and value addition industry development in South Korea.

• Journal of Korea Technology Innovation Society
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• v.8 no.3
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• pp.1157-1174
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• 2005

This paper aims at examining the disembodied technological progress in the Korean IT service industry, on the assumption that competition leads to the disembodied technological progress. Hobijn model (2000) which abstracts the disembodied technological progress from the total technological progress and Bai et al. Model (1998, 2003) which identifies time of the technological structural change are used for empirical study. The empirical analysis indicates the major structural change in the pattern of the disembodied technology progress occurred after 1995 in the Korean IT service industry. This means that policies for the introduction of competition system and the industry promotion around 1995 have a positive effect on the development of the Korean IT service industry.

• Environmental and Resource Economics Review
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• v.12 no.1
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• pp.29-48
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• 2003

The Steel Industry has made a significant contribution to the increase of energy use in Korea. This paper presents a method for development energy efficiency indicator in the steel industry based on the decomposing approach. This paper develops a logically consistent method for decomposing a change in energy consumption into the effects of three factors structural change, energy intensity and output level. Numerical illustration of the method is given using 1992~2001 data for energy consumption in a virtual works. The most dominant factor is revealed to be the output effect. The energy intensity for the steel industry has increased and the effect of such a growth was relatively strongly reflected in the decomposition analysis. The structural effect turned out to be also important during the periods.

• Journal of the Korea Fashion and Costume Design Association
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• v.3 no.2
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• pp.137-160
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• 2001

A study on the structural change in the U.S. textile industry. The U.S. textile industry has undergone significant changes over the last fifty years, including a steady decline in the relative scale of domestic production, employment reduction, and increased competition from imported products. In order to weather a crisis, the responses of the U.S. textile industry have been made such as investment in technology, specalization in the textile and apparel industries. The textile and apparel industries have taken steps to increase labor productivity through automations to speed management to create and introduce new products and new methods, and have lowered indirect overhead costs. Regarding these response of the U.S. and other situation of world textile and apparel trade market, much of the sense of crisis that pervades korean textile and apparel industries has to do with the problem of adjusting corporate policy.

• Proceedings of the Korea Technical Association of the Pulp and Paper Industry Conference
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• 2004.11a
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• pp.247-254
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• 2004