• KDI Journal of Economic Policy
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• v.15 no.2
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• pp.161-179
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• 1993

본고는 생산성(生産性)과 성장률(成長率)간의 누적적(累積的) 성장과정(成長過程)이라 불리는 Kaldor의 축약(縮約)모델을 구조(構造)모델로 확대하여 우리나라의 성장과정을 분석한다. 우리나라는 저임금(低賃金)을 통한 수출주도형(輸出主導型) 경제성장을 추구해 왔으나 87년 이후로 고임금화(高賃金化) 및 수출역할(輸出役割)의 감소(減少)라는 구조적(構造的) 위기(危機)를 겪고 있다. 과거 선진제국에서 고도성장을 가능케 하였던 "포디즘"적 성장체제는 이러한 위기(危機)를 극복하는 데 도움이 안된다. 왜냐하면 오늘날과 같이 국가간 상호의존성(相互依存性)이 크게 증대되고 국가간(國家間) 경쟁(競爭)이 심화되는 상황(globalization)하에서는 국내시장(國內市場)과 해외시장(海外市場)간의 구분 자체가 의미를 잃어가고 있으며, 이에 따라 수출(輸出)과 내수(內需)가 독립적일 수 없게 되었기 때문이다. 우리나라가 어떠한 성장양식으로 이행하든 그 방향은 세계시장에서의 경쟁력강화(競爭力强化)와 일치해야 하며, 이러한 관점에서 고성장(高成長)을 유지하기 위해서는 생산성향상(生産性向上)이 소비증대(小費增大)가 아니라 수출증대(輸出增大)로 이어지도록 해야 할 것이다.

• The Journal of Fisheries Business Administration
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• v.45 no.3
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• pp.111-129
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• 2014

The main purpose of this study is to analyze the disputes concerning the 1982 moratorium on commercial whaling and the standing rights of other natural objects. Basically, the debates has arisen from the very nature of whales and other natural resources, that is to say, a mixed good of consumptive and non-use value. The debates between pro- and anti-moratorium states regarding whaling may not find out a peaceful solution without compromise or negotiation since any international institution for official settlements does not exist. If the pro-states could provide anti-states with a certain type of economic incentive which is side payments, anti-states might offer self-restraint not to whale. Here, it would be considered to apply Kaldor-Hicks compensation principles to this problem. Since 1965, some countries such as the United States and Japan began to recognize the standing right of natural objects. Even though rejected, the newt case in Korea was brought to the Supreme Court. If a standard of living increases significantly to a higher level(i.e. more than per capita income US$30,000), there would be a tendency of valuing natural objects and their beauty more and more highly.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.21-30
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• 2021

This study examines the role of the manufacturing sector in stimulating economic growth in the Saudi economy. Even though the economic literature shows how the manufacturing sector stimulates economic growth, it does not clearly show the role of the manufacturing sector in economic growth. The study employed annual time-series data spanning the 1980-2018 period from the databases of the Saudi Arabian Monetary Authority. Moreover, the cointegration and VECM approaches were employed to examine the short- and long-run relationship causality between variables. The results show a two-way causal relationship exists between the manufacturing sector and economic growth. Furthermore, the results indicate that a unidirectional causal relationship exists, running from the manufacturing sector to the services sector. The study recommends that the determinants of the growth of the Saudi manufacturing sector must be investigated. Moreover, the most productive Saudi manufacturing industries must be identified, and the productivity of other sectors must be increased in a way that contributes to economic plans and policies. Thus, adopting economic policies that stimulate investment in the manufacturing sector contributes to increasing non-oil exports to diversify sources of income to achieve vision 2030 of the Kingdom of Saudi Arabia.

• 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.