SHERP

Wage Inequality and the Contribution of Capital, Differential Labor Quality and Efficiency to Economic Growth in Korea, 1965-2007

Cited 0 time in webofscience Cited 0 time in scopus
Authors
Kwack, Sung Yeung
Issue Date
2012
Publisher
Institute of Economic Research, Seoul National University
Citation
Seoul Journal of Economics, vol.25, no.1, pp.1-23
Keywords
Wage inequalityLabor efficiencySkill-biased technological changeTFPKorea
Abstract
We show that skilled and unskilled labors are imperfect substitutes
and that capital and skilled labor are complementary in production.
The Korean economy has experienced skill-biased technical
changes. The capital stock growth is found to be the main source of
the economic growth. The contribution of the efficiency and labor
input growth of skilled workers is the second most important source.
The rate of contribution of TFP growth to GDP growth has increased
from 27% in 1991-1996 to 36% in 2001-2007. This paper shows
that Korea’s policy of educating its workforce has boosted productivity
and growth and it prevented a widening in wage inequality.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/75316
Files in This Item:
Appears in Collections:
College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.25 no.1/4 (2012)
  • mendeley

Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.

Browse