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The Effect of Sector-Biased Technological Progress on Economic Growth: An Approach Based on a Multi-Sector Growth Model (in Korean)

Author

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  • Bae-Geun Kim

    (Department of Economics, Chung-Ang University)

Abstract

This paper examines the effect of sector-biased technological progress on consumption and real income. To this end, differential rates of technology growth are allowed between the domestic and export sectors. The paper then analyses which sector's technological progress is more effective in increasing consumption and real income. The results show that, in the absence of any technology spillover, technological progress in the domestic sector leads to higher consumption and real income than does technological progress in the export sector. In contrast, under the presence of technology spillover to the domestic sector, the effect of technological progress in the export sector is significantly enhanced.

Suggested Citation

  • Bae-Geun Kim, 2011. "The Effect of Sector-Biased Technological Progress on Economic Growth: An Approach Based on a Multi-Sector Growth Model (in Korean)," Economic Analysis (Quarterly), Economic Research Institute, Bank of Korea, vol. 17(3), pages 43-88, September.
    • Handle: RePEc:bok:journl:v:17:y:2011:i:3:p:43-88
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    Cited by:

    1. Kim, Bae-Geun, 2023. "Technological advances in manufacturing and their effects on sectoral employment in the Korean economy," Economic Modelling, Elsevier, vol. 126(C).

    More about this item

    Keywords

    Multi-sector growth model; Technological progress; Technology spillover; Export-biased growth; Terms of trade;
    All these keywords.

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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