• Analyses & Alternatives
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• v.4 no.2
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• pp.71-102
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• 2020

This study analyzes the effect of demographic changes on economic growth. We use the supply-side output identity to forecast the growth potential of the Korean economy. According to the results, even based on optimistic assumptions and prospects, the economic growth rate is likely to fall drastically starting in 2020. Of course, to maintain growth potential, efforts to increase productivity are necessary. However, given the historical experience of developed countries, it is not clear whether the huge trend of demographic change can be offset by efforts to increase productivity. In the so-called '30-50 club' countries, both labor productivity and growth rate tend to fall after reaching the per capita income of $30,000. The degree of decline in the growth rate is closely related to changes in the working age population and the prime-age workforce. The results are similar when tracking the path of changes in total factor productivities of the economy. When a certain level of income is reached, the increase in total factor productivity also tends to slow down. The ripple effects of rapid changes in demographics will indeed be extensive. The negative impact is likely to be concentrated at a time when the working age population, the prime-age workforce, and the total population shrink simultaneously. Above all, it is necessary to use the government's fiscal space to block the possibility of a rapid fall in the growth rate. In addition, it is important to continuously implement various reform tasks that should be promoted, such as improving the education system and strengthening the social safety net.

• Journal of Korea Technology Innovation Society
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• v.6 no.3
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• pp.328-344
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• 2003

This paper is aimed at analyzing the effect of Information Technology (IT) investment on the output growth and Total Factor Productivity (TFP) of Korean stock industry. Data on 24 stock firms for the eleven years (1991-2001) are used for the analysis. It is identified that there are both direct and indirect impacts of IT investment of the Korean stock industry on output growth. The total effect on output growth is 1.34 percentage point per year, which divided into a direct effect of investment in IT on the output growth is 1.97 and an indirect effect on the TFP is -0.63 percentage points per year. Results show that IT investment cannot contribute to increased stock industry productivity. Therefore, the Korean stock industry has not benefited from increased investment on IT in increasing productivity, implying the so-called productivity paradox has existed during the period.

• STI Policy Review
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• v.8 no.1
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• pp.1-22
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• 2017

There has been a pronounced increase in research and development (R&D) expenditure in Singapore over the last two decades, with government spending accounting for a sizeable share. This increase has been spurred by public policy emphasis on research and innovation as engines of economic growth. This paper analyses the impact of R&D on economic performance in Singapore from 1978 to 2012 through the use of time series analysis. The Cobb-Douglas based analysis shows a long-run equilibrium relationship between Total Factor Productivity (TFP) and R&D investments. We found that the short-run productivity of R&D in Singapore is comparable to smaller advanced economies in the Organisation for Economic Co-operation and Development (OECD). However, in terms of long-run R&D productivity, Singapore lags slightly behind the smaller OECD nations and far behind the G7 countries. This suggests leakage of value capture and low absorptive capacity in local firms. Possibility of productivity improvements induced by policy changes in the 1990s was considered, but no evidence of significant structural breaks was found. Lastly, Granger causality analysis reveals that public sector R&D augments private sector R&D capital, thus playing an important role in generating externalities and spillover effects. Policy implications and lessons for other middle-income countries are discussed.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.19 no.38
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• pp.117-129
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• 1996

This Study intends to analysis what 3 factors, which are indices of Capital, Labor and Distribution, really affect to Value-Added Productivity through Statistical Analysis. For this, We selected 12 indices of Value-Added from the edition of 'Annual report of Korean companies' published in 'Korea Investors Service., Inc', especially in parts of Chemicals and Chemical products of total 85 companies. Using this data, Multivariate Statistical Analysis such as Principal Component Analysis, Factor Analysis, Covariance Structure Analysis is taken for modeling the effect of 3 factor(Labor Productivity, Capital Productivity and the Index of Distribution) on Value-Added Productivity.

• Proceedings of the Safety Management and Science Conference
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• 2009.04a
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• pp.337-350
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• 2009

Using the Malmquist productivity index, this paper compares the productivity of Korean manufacturing industries from 1999 to 2006. The malmquist productivity index has more advantages than previous methods such as solow model, endogenous growth theory. The malmquist productivity index can be decomposed productivity into two parts. The first part is an index of the technical efficiency change. This index has high value when the elements of production is used more efficiently. The second part is an index of technical change. This index has high value if the advent of new technology and process innovation occur.

• East Asian Economic Review
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• v.27 no.2
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• pp.89-114
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• 2023

This paper empirically examines how controlling strategic goods affects productivity by focusing on Korean industries from 2015 to 2019. We hypothesize that strategic goods control positively affects productivity because it promotes international trade by making up for market failures, building up national credibility, and stabilizing market environment; in turn, international trade contributes to productivity growth. The regression results are congruent with our hypothesis. The effects of strategic goods control on productivity were positive and statistically significant in general. These positive effects were more prominent in the group of industries that include strategic goods and, thus, are technologically intensive. The results also support that international trade is a key medium for the effects of strategic goods control on productivity. Consequently, our empirical results support government policy on strategic goods control, ensuring that strategic goods control can contribute to economic growth by reducing diplomatic friction and stabilizing the global market.

• Korea Journal of Hospital Management
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• v.22 no.3
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• pp.46-60
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• 2017

The purpose of this study is to analyze the difference of productivity according to environmental factors among 25 Regional base public hospitals. Also this study is to propose a method to improve the productivity of Regional base public hospitals in the future by improving the public performance and stable management performance by studying the productivity variables affecting profitability. The survey period was based on the last three years, and 25 Regional base public hospitals were selected for the survey. The dependent variable is the total capital medical marginal profitability and the medical profit marginal profitability which are the indicators of profitability. The independent variable, productivity, is classified into three indicators: capital productivity, labor productivity, and value added productivity. The ANOVA analysis method was used to analyze the productivity difference according to the frequency factor and the environmental factors of the Regional base public hospitals. Finally, we conducted a hierarchical regression analysis to examine the productivity variables affecting profitability. The results of this study showed that there were differences in productivity due to environmental factors such as hospital size, competition in the local medical market, and differences in management performance. The difference in productivity and profitability depending on the environmental factors suggests that it is difficult for Regional base public hospitals in each regional base to perform a balanced public service. In order to overcome this, it is necessary to provide balanced medical services such as government financial support expansion, regional medical demand forecasting and facility infrastructure construction.

• Archives of design research
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• v.14
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• pp.181-191
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• 1996

The '10 Productivity' -a combined term of 'ID'

• Journal of Korea Technology Innovation Society
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• v.8 no.3
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• pp.1225-1249
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• 2005

This study aims at investigating whether foreign direct investment plays a role as a channel of international technology diffusion. We used the annual panel data from 1980 to 2002. The nonstationary panel techniques, in particular group mean panel FMOLS(fully modified OLS) was exploited as an empirical methodology in order to tackle the heterogeneity between members and low frequency. The empirical results show that inflow direct investments lead to an increase in total factor productivity and economic growth. Also outflow direct investments contribute to an higher total factor productivity and economic growth. These results confirms that both inflow and outflow direct investments are important channels for international technology diffusion or spillover.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.411-417
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• 2021

This study aims to estimate the production function and total factor productivity (TFP) of Vietnamese seafood processing firms. At the same time, the study analyses the impact of internal factors of firms and the quality of economic institutions on the TFP of the Vietnamese seafood processing industry. The study uses the Function Control (FC) approach in TFP estimation and the Feasible Generalized Least Squares (FGLS) regression model in the analysis of factors affecting TFP. The study was carried out on the census data of enterprises of the Vietnamese seafood processing industry collected by the Vietnamese General Statistics Office and Provincial Competitiveness Index data of Vietnam Chamber of Commerce and Industry in the period from 2013 to 2018. Estimated results from the models show that: i) Vietnamese seafood processing firms are, currently, mainly labor-intensive, the TFP contribution and output is only about 2.258. ii) Factors such as the firm's age, firm's size, and the firm's ownership affect TFP. In which, firms that have few numbers of years of operation, small and medium firms, and private firms have low TFP. iii) Institutional quality and the provincial business environment have a positive impact on the TFP of Vietnamese seafood processing firms in this period.