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Wage Inequality and the Contribution of Capital, Differential Labor Quality and Efficiency to Economic Growth in Korea, 1965-2007
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Kwack, Sung Yeung | - |
dc.date.accessioned | 2012-03-05T01:02:03Z | - |
dc.date.available | 2012-03-05T01:02:03Z | - |
dc.date.issued | 2012-01 | - |
dc.identifier.citation | Seoul Journal of Economics, Vol.25 No.1, pp. 1-23 | - |
dc.identifier.issn | 1225-0279 | - |
dc.identifier.uri | https://hdl.handle.net/10371/75316 | - |
dc.description.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. | - |
dc.language.iso | en | - |
dc.publisher | Institute of Economic Research, Seoul National University | - |
dc.subject | Wage inequality | - |
dc.subject | Labor efficiency | - |
dc.subject | Skill-biased technological change | - |
dc.subject | TFP | - |
dc.subject | Korea | - |
dc.title | Wage Inequality and the Contribution of Capital, Differential Labor Quality and Efficiency to Economic Growth in Korea, 1965-2007 | - |
dc.type | SNU Journal | - |
dc.contributor.AlternativeAuthor | 곽성영 | - |
dc.citation.journaltitle | Seoul Journal of Economics | - |
dc.citation.endpage | 23 | - |
dc.citation.number | 1 | - |
dc.citation.pages | 1-23 | - |
dc.citation.startpage | 1 | - |
dc.citation.volume | 25 | - |
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