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Technological change and wage premium in a small open economy: the case of Korea

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  • Kang-Shik Choi
  • Jinook Jeong

Abstract

The aim of this study is to analyse the relationship between technological change and the educational wage premium in Korea. The main findings are as follows. First, the changes in educational wage premium were mostly affected by shifts in the supply of college graduates from 1983 to 1993 while the changes were affected more by the shifts in labour demand from 1993 to 2000. Second, the educational wage premium is greater in the industries with rapid technological change than in the industries with slower technological change. Third, the educational wage premium associated with the technological change is mostly explained by the returns to worker's unobserved heterogeneities, which is correlated with education, rather than the returns to education per se. Finally, there are some evidences that skill biased technologies are developed as the number of skilled workers are increasing.

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Bibliographic Info

Article provided by Taylor and Francis Journals in its journal Applied Economics.

Volume (Year): 37 (2005)
Issue (Month): 1 ()
Pages: 119-131

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Handle: RePEc:taf:applec:v:37:y:2005:i:1:p:119-131

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References

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  1. Berman, E. & Bound, J. & Machin, S., 1997. "Implications of Skill-Biased Technological Change: International Evidence," Papers 25, Centre for Economic Performance & Institute of Economics.
  2. Serrano, Lorenzo & Timmer, Marcel P., 2002. "Is technical change directed by the supply of skills?: The case of South Korea," Economics Letters, Elsevier, vol. 76(2), pages 289-293, July.
  3. John E. DiNardo & Jorn-Steffen Pischke, 1996. "The Returns to Computer Use Revisited: Have Pencils Changed the Wage Structure Too?," NBER Working Papers 5606, National Bureau of Economic Research, Inc.
  4. Daniel S. Hamermesh, 2002. "International Labor Economics," NBER Working Papers 8757, National Bureau of Economic Research, Inc.
  5. David H. Autor & Lawrence F. Katz & Alan B. Krueger, 1998. "Computing Inequality: Have Computers Changed The Labor Market?," The Quarterly Journal of Economics, MIT Press, vol. 113(4), pages 1169-1213, November.
  6. Eli Berman & John Bound & Zvi Griliches, 1994. "Changes in the Demand for Skilled Labor within U.S. Manufacturing Industries: Evidence from the Annual Survey of Manufacturing," NBER Working Papers 4255, National Bureau of Economic Research, Inc.
  7. Edward E. Leamer, 1994. "Trade, Wages and Revolving Door Ideas," NBER Working Papers 4716, National Bureau of Economic Research, Inc.
  8. Entorf, Horst & Kramarz, Francis, 1997. "Does unmeasured ability explain the higher wages of new technology workers?," European Economic Review, Elsevier, vol. 41(8), pages 1489-1509, August.
  9. Ann P. Bartel & Nachum Sicherman, 1997. "Technological Change and Wages: An Inter-Industry Analysis," NBER Working Papers 5941, National Bureau of Economic Research, Inc.
  10. Paul Krugman, 1995. "Technology, Trade, and Factor Prices," NBER Working Papers 5355, National Bureau of Economic Research, Inc.
  11. Chennells, Lucy & Van Reenen, John, 1997. "Technical Change and Earnings in British Establishments," Economica, London School of Economics and Political Science, vol. 64(256), pages 587-604, November.
  12. Juhn, Chinhui & Murphy, Kevin M & Pierce, Brooks, 1993. "Wage Inequality and the Rise in Returns to Skill," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 410-42, June.
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Cited by:
  1. Oscar Afonso, 2006. "Skill-biased technological knowledge without scale effects," Applied Economics, Taylor and Francis Journals, vol. 38(1), pages 13-21.
  2. Gabriel Montes Rojas, 2006. "Skill premia in Mexico: demand and supply factors," Applied Economics Letters, Taylor and Francis Journals, vol. 13(14), pages 917-924.

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