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Industrialization Policies of Korea and Taiwan and Their Effects on Manufacturing Productivity

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  • Okuda, Satoru
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    Abstract

    In this paper the total factor productivity (TFP) of the manufacturing sectors in Taiwan and the Republic of Korean was measured and compared using the growth accounting method. Through descriptive analysis, inefficiency in the Korean manufacturing sectors was revealed, especially for the period prior to 1986. Also for the period posterior to 1986, it was found that TFP tended to contribute more to the value-added growth in both countries. An econometric analysis with industrialization-related variables revealed a contrast in the structure of TFP growth between the two countries. Import penetration, capital intensity, and growth of real output were estimated to exert a positive productivity impact in Taiwan, reflecting Taiwan's flexibility and superiority in factor utilization compared with Korea. It was estimated that the export ratio did not have any major productivity impact in both countries, in contrast with the results reported by the World Bank (The East Asian Miracle: Economic Growth and Public Policy, New York: Oxford University Press, 1993).

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    File URL: http://ir.ide.go.jp/dspace/bitstream/2344/124/1/ARRIDE_DE_Vol35%284%29_1997.04.02_okuda.pdf
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    Bibliographic Info

    Article provided by Institute of Developing Economies, Japan External Trade Organization(JETRO) in its journal The Developing Economies.

    Volume (Year): 35 (1997)
    Issue (Month): 4 (December)
    Pages: 358-381

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    Handle: RePEc:jet:deveco:v:35:y:1997:i:4:p:358-381

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    Related research

    Keywords: Industrialization; Industrial policy; Productivity; Manufacturing industries; South Korea; Taiwan;

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    References

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    1. Abe, Makoto & Kawakami, Momoko, 1997. "A Distributive Comparison of Enterprise Size in Korea and Taiwan," The Developing Economies, Institute of Developing Economies, Japan External Trade Organization(JETRO), vol. 35(4), pages 382-400, December.
    2. Kwon, Jene K., 1986. "Capital utilization, economies of scale and technical change in the growth of total factor productivity : An Explanation of South Korean manufacturing Growth," Journal of Development Economics, Elsevier, vol. 24(1), pages 75-89, November.
    3. Okuda, Satoru, 1994. "Taiwan's trade and FDI policies and their effect on productivity growth," The Developing Economies, Institute of Developing Economies, Japan External Trade Organization(JETRO), vol. 32(4), pages 423-443, December.
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    Cited by:
    1. Sun, Chia-Hung, 2004. "Decomposing productivity growth in Taiwan's manufacturing, 1981-1999," Journal of Asian Economics, Elsevier, vol. 15(4), pages 759-776, August.
    2. Chia-Hung Sun, 2005. "Productivity growth in East Asian manufacturing: a fading miracle or measurement problem?," Journal of International Development, John Wiley & Sons, Ltd., vol. 17(1), pages 1-19.

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