Publications
Detailed Information
Wage Inequality and the Contribution of Capital, Differential Labor Quality and Efficiency to Economic Growth in Korea, 1965-2007
Cited 0 time in
Web of Science
Cited 0 time in Scopus
- Authors
- Issue Date
- 2012-01
- Citation
- Seoul Journal of Economics, Vol.25 No.1, pp. 1-23
- Keywords
- Wage inequality ; Labor efficiency ; Skill-biased technological change ; TFP ; Korea
- 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 Koreas policy of educating its workforce has boosted productivity
and growth and it prevented a widening in wage inequality.
- ISSN
- 1225-0279
- Language
- English
- Files in This Item:
Item View & Download Count
Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.