Intangible Investment and Changing Sources of Growth in Korea

Hyunbae Chun, M Nadiri

    Research output: Contribution to journalArticle

    Abstract

    We examine how intangible investments change the sources of growth in the Korean economy. After constructing a novel industry-level data set on intangibles, we estimate the contribution of intangible-intensive industries and other industries to aggregate productivity growth in 1981-2008. The contribution of intangible-intensive industries to aggregate labour productivity growth has significantly increased, whereas that of other industries has substantially decreased. The increased contribution of intangible-intensive industries is mainly associated with total factor productivity growth rather than with input growth. This suggests that innovations related to intangible investments in these industries might become a new key source of productivity growth in Korea.

    Original languageEnglish (US)
    Pages (from-to)50-76
    Number of pages27
    JournalJapanese Economic Review
    Volume67
    Issue number1
    DOIs
    StatePublished - Mar 1 2016

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    Korea
    Industry
    Intangibles
    Productivity growth
    Innovation
    Labour productivity
    Total factor productivity growth
    Aggregate productivity

    ASJC Scopus subject areas

    • Economics and Econometrics

    Cite this

    Intangible Investment and Changing Sources of Growth in Korea. / Chun, Hyunbae; Nadiri, M.

    In: Japanese Economic Review, Vol. 67, No. 1, 01.03.2016, p. 50-76.

    Research output: Contribution to journalArticle

    Chun, Hyunbae ; Nadiri, M. / Intangible Investment and Changing Sources of Growth in Korea. In: Japanese Economic Review. 2016 ; Vol. 67, No. 1. pp. 50-76.
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