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Korea's first industrial revolution, 1911–1940

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  • Cha, Myung Soo
  • Kim, Nak Nyeon
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    Abstract

    We estimate output and population of colonial Korea to show that per capita output grew 2.3% with population expanding 1.3% per year from 1911 to 1940. Growth accounting indicated that productivity advance accounted for roughly one half of the per capita output growth. Primary production as a share of GDP fell from 69% to 42% during the period. Rapid productivity improvement caused nontradable sectors to become increasingly important, while capital accumulation drove industrialization. Demographic expansion, per capita output growth, and structural change occurred at considerably faster rates in northern than in southern provinces.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0014498311000428
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    Bibliographic Info

    Article provided by Elsevier in its journal Explorations in Economic History.

    Volume (Year): 49 (2012)
    Issue (Month): 1 ()
    Pages: 60-74

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    Handle: RePEc:eee:exehis:v:49:y:2012:i:1:p:60-74

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    Web page: http://www.elsevier.com/locate/inca/622830

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    Keywords: Population; Economic growth; Structural change; Growth accounting;

    References

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    1. Dongwoo Yoo & Richard H. Steckel, 2010. "Property Rights and Financial Development: The Legacy of Japanese Colonial Institutions," NBER Working Papers 16551, National Bureau of Economic Research, Inc.
    2. Bernard, Andrew B & Jones, Charles I, 1996. "Comparing Apples to Oranges: Productivity Convergence and Measurement across Industries and Countries," American Economic Review, American Economic Association, vol. 86(5), pages 1216-38, December.
    3. Broadberry, Stephen N., 1998. "How Did the United States and Germany Overtake Britian? A Sectoral Analysis of Comparative Productivity Levels, 1870–1990," The Journal of Economic History, Cambridge University Press, vol. 58(02), pages 375-407, June.
    4. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    5. Choi, Seong-Jin & Schwekendiek, Daniel, 2009. "The biological standard of living in colonial Korea, 1910-1945," Economics & Human Biology, Elsevier, vol. 7(2), pages 259-264, July.
    6. Young, Alwyn, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 641-80, August.
    7. Richard H. Steckel, 1995. "Stature and the Standard of Living," Journal of Economic Literature, American Economic Association, vol. 33(4), pages 1903-1940, December.
    8. Joseph P. Ferrie & Werner Troesken, 2005. "Death and the City: Chicago's Mortality Transition, 1850-1925," NBER Working Papers 11427, National Bureau of Economic Research, Inc.
    9. Chang-Tai Hsieh, 2002. "What Explains the Industrial Revolution in East Asia? Evidence From the Factor Markets," American Economic Review, American Economic Association, vol. 92(3), pages 502-526, June.
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    Cited by:
    1. Aoki, Masahiko, 2012. "Historical Sources of Institutional Trajectories in Economic Development: China, Japan, and Korea Compared," ADBI Working Papers 397, Asian Development Bank Institute.
    2. Felice, Emanuele & Carreras, Albert, 2012. "When did modernization begin? Italy's industrial growth reconsidered in light of new value-added series, 1911–1951," Explorations in Economic History, Elsevier, vol. 49(4), pages 443-460.

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