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한국경제의 성장과 생산성 수렴(Productivity Convergence): OECE, EU KLEMS, and KIP Database를 중심으로

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Authors
이근희표학길
Issue Date
2022
Publisher
서울대학교 경제연구소
Citation
경제논집, Vol.61 No.1, pp.45-109
Keywords
경제성장, 노동생산성생산성 수렴(Productivity Convergence)Economic growthLabor productivityMultilateral labor productivity indexβ-convergenceσ-convergence
Abstract
The Korean economy has experienced the periodical economic crisis such as
the oil crisis in 1970s, the foreign exchange crisis in 1997-98, the global financial
crisis in 2008-09, and the COVID-19 crisis 2020-22, so has faced with the slowed
economic growth. How can we comprehend the slow-moving economic growth in
the Korean economy? Is it originated from the structural attributes or the specific
properties of the Korean economy? Or is it a kind of general economic conditions as
similar as the other countries can also experience? Our study has uncovered that the
Korean economy has definitely caught up the advanced countries in terms of labor
productivity (β-convergence), and the convergence has been occurred generally among
OECD countries including the Korean economy.
Further the economic growth has been clearly slowed down since 1980s in the
Korean economy, and more importantly the pace of productivity convergence has
been weaken unceasingly. Thus it should be pointed out that it is very significant for
the Korean economy to elevate the speed of convergence by improving productivity
in order to offset the decline in population. More specifically we should construct
some of productivity strategies through technological innovation, minimizing the
inefficiency of production inputs, improvement of quality of capital and labor input,
and enhancement of competitiveness of intangible assets like as R&D, Software,
Intellectual property right etc. Finally, we should try to make the Korean economy
as a productivity-led one in terms of not only labor productivity but also total
factor productivity. Therefore we are to accomplish a leading country or frontier in
succession in terms of productivity growth.
ISSN
1738-1150
Language
Korean
URI
https://hdl.handle.net/10371/184215
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)경제논집경제논집 vol.61 (2022)
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