• Knowledge Management Research
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• v.20 no.3
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• pp.1-16
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• 2019

Jobless Growth, one of the most issue keywords for Korea's economy at this moment, stands for an economic situation where the unemployment rate once edging up at the downturn does not fall sharply even after a business cycle is on the stage of its recovery. A remarkable progress of ICT has intensified the apprehension of technology displacing human labor. A remarkable progress of ICT has intensified the apprehension of technology displacing human labor historically. Nowadays, ICT as the main cause for recent jobless growth in Korea ends up with pointing out. This study is to investigate whether the ICT leads to an economic situation of jobless growth. We served an empirical analysis using firm-level panel data from 2009 to 2013 and estimated the effects of ICT on both firm's employment and productivity. A result suggests not only does the employment increase with the rise of ICT investment, but also the employment becomes a complete mediator in terms of linking ICT and firm's productivity. It turns out to be a groundless fear that the ICT rules out human labor causing jobless growth for Korea's economy according to the result revealed.

• Journal of Fashion Business
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• v.1 no.1
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• pp.43-52
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• 1997

The main purpose of this study was to examine the sectors of Korean textile complex based on various economic characteristics and performances. The sectors in the textile complex differed in many aspects. Man-made fiber industry showed capital-intensive characteristics even though most of the sectors in the textile complex were labor-intensive. Textile industry is composed of weaving and spinning, knitting, dyeing and finishing sectors and even within the textile industry, each sector had different characteristics from each others. Weaving and spinning sector seemed to require relatively high capital investment, while dyeing and finishing was very labor-intensive. Labor-intensive apparel industry has faced decrease in labor-productivity while wage has increased. Slow growth in labor productivity in Korean textile complex was shown to be a more problem than increase in wage or ratio of labor cost to value added. Apparel companies appeared to be in better financial states than the textile companies, even though the exports of apparel products have decreased in the 1990s. However, in overall the financial states of the Korean textile complex were not as strong as those of the other manufacturing sectors.

• Asia-Pacific Journal of Business
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• v.13 no.1
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• pp.37-52
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• 2022

Purpose - The objective of this study is to investigate what motivates global FDI inflows in the different economic development level and to clarify the FDI motivation type in the level of qualitative economic growth. Design/methodology/approach - Major macroscopic social·economic factors induced FDI inflows were analyzed using fixed-effect panel regression with 30-year panel data of 28 countries from 1985 to 2014. For analysis in the stage of economic growth, two category of developed and developing countries was used. And to analyze FDI motivation type in the level of qualitative economic growth, 4 shares of GDP; consumption·government·investment expenditure and export, was used as explanatory variable. Findings - In developed country, TFP(total factor productivity) and GDP have a great influence on FDI inflows, and consumption and labor compensation have a slight effect. This result indicates that the market seeking-driven, horizontal type investment is shown along with efficiency seeking investment. In developing country, human capital and TFP is shown to have greater impact on FDI inflows and labor compensation, exports, investment and government expenditures also have impacts. Thus it has confirmed that not only efficiency-seeking vertical investment for using low cost well educated laborer, but also government-driven economic growth and export policies could affect the FDI inflows. Research implications or Originality - The FDI investment decision making of multinational companies is decided by their own purpose. But, in the concept of as follows; 1) FDI is a long-term capital flowing for maximization of economic utility with limited global resource, 2) Thus FDI could be affected by macro socio·economic factors of host country. 3) Also such macro factors is different by each economic growth qualitative level. Therefore macro socio·economic factors of each country could be affected by the qualitative level of their own economic growth. To attract FDI inflows, it is desirable to implement differentiated incentive policies in the qualitative level of economic growth. Furthermore in developing countries it is recommended to implement government driven economic growth policies as follows; fostering well educated human resources, improving technology productivity in the relative lower cost labor market compared to developed countries and boosting international export volume.

• Journal of Korea Port Economic Association
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• v.23 no.4
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• pp.49-69
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• 2007

The purpose of this study is to analyze contribution factors of economic growth through growth accounting analysis in Korean port-logistics industry. Comparing with the average level of entire industry for 1990-2003, the contributions of total factor productivity and labor in port-logistics industry were high, but that of capital stock was very low. The pattern of growth in Korean port-logistics industry has greatly changed before and after Korean financial crisis. Before the 1997 financial crisis, the economic growth rate of port-logistics industry was 14.1%, which is higher than that of the whole industries, 7.7% for 1990-1998. Main contribution factors of the economic growth rate were the growth of capital stock and productivity, but ratios of their contributions were relatively low and did not come up to that for the whole industry. After the financial crisis, annualized growth rate of GDP in port-logistics industry had rapidly declined at 5.4% for 1998-2003, which did not get to that of the entire industry (10.1%). The main contribution factors of the economic growth rate over the 1998-2003 period were capital stock 13.1%, labor 57.0 %, and total factor productivity 29.9 %, Such growth pattern as excess dependence on growth of labor brought reduction of the rate of economic growth with degradation of productivity growth in the Korean port-logistics industry.

• Journal of Labour Economics
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• v.32 no.2
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• pp.95-124
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• 2009

In this article, I were trying to analyze the listed manufacturing companies' trend of productivity and the corporate education & training effect after the financial crisis. According to the analysis, the listed manufacturing companies have decreased their productivity since financial crisis, and from such declining trend. jobless growth and a growth without physical and human capital investment has been observed. Furthermore, there is no efficient labor force coordination within the manufacturing industry; In order to analyze the effect of education & training investment on productivity more deeply, I have practiced the dynamic panel data analysis from constructing the micro panel data which consists of company level information 1997~2008. According to the consequences, dynamic panel data analysis solved the problem of the overestimating education & training effect fairly well.

• IE interfaces
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• v.21 no.3
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• pp.312-321
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• 2008

The productivity increase by technological advance is the biggest driving force of economic growth. In this paper, we investigate the inputs and outputs of the manufacturing and service industries in Korea. We also estimate the total and partial factor productivities of both industries using the Solow model and the Kendrick model. Finally, we analyze the contribution of each input factor to industrial growth.

• The Journal of the Korea Contents Association
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• v.16 no.11
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• pp.321-329
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• 2016

The purpose of this study is to analyze the impact of R&D investment on productivity growth of the Korean Economy in the New Normal Era. To be specific, this study focuses on the impact of R&D capital, other capitals, and total factor productivity(TFP) on the labor productivity during the three periods: 1970-2014, 1970-1997, and 1999-2014. We found out that the change of the intensity in the R&D capital and other capitals significantly impacted on the change of the labor productivity in Korea. In particular, the estimated coefficients of these variables are higher after the period of the IMF financial crisis than before the crisis. We also estimated the marginal productivity of R&D capital investment in terms of the TFP growth. The estimated coefficients of the variables showed stronger effects after the period of the IMF financial crisis than before the crisis. As a result, the increase of R&D investment has been greatly impacted on the growth of the total factor productivity(TFP) after the IMF financial crisis in Korea.

• KDI Journal of Economic Policy
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• v.34 no.4
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• pp.1-26
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• 2012

Greenhouse gas emission policy in Korea and elsewhere is based on emissions projections, a key element of which is the projected path of structural change from high productivity growth to low productivity growth economic sectors given sector specific labor productivity growth, emissions abatement across sectors and population growth. Thus, it is important to model the source of the structural change to forecast emissions correctly. Using data for the Korean economy, this study constructs and quantitatively evaluates a model of structural change and green growth to generate policy implications for Korea and the international greenhouse gas debate.

• 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.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.4
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• pp.309-316
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• 2020

This research aims to revisit the hypothesis that bribery hurts firm performance in the context of a perceptibly corrupt country. Specifically, we use micro-data from Vietnamese small and medium firm surveys in 2013 and 2015 to examine whether bribery impedes firm revenue growth and labor productivity growth. An issue arising in this type of research is the potential endogeneity between firm bribing behaviors and firm performance. To go around the issue, we follow the literature to instrument bribery variable with the average probability of bribery in other provinces. We further employ the Analysis of Variance technique (ANOVA) to unveil if the effect of bribery is dependent on bribing purposes. The regression results show that firm performance is significantly influenced by firm size, firm age and firm bribing behavior. Larger firms are more likely to grow faster while firm performance tends to be negatively related to firm age. Particularly, we find that bribery significantly impedes firm revenue growth and labor productivity growth. The analysis of variance shows that the effect of bribery on firm performance may vary across bribing purposes. Our findings, therefore, support the sand-the-wheels hypothesis that bribery hurts firm performance even in a highly corrupt business environment.