The present study examines the production technology of South Korean manufacturing by linking TFP growth to parameters of a translog cost function. The sources of a productivity growth in 22 industrial sectors were identified by decomposing the measured growth in TFP into technology, returns to scale and capital utilization for the 1963--83 period. The study shows that first, the major source of the rapid growth of Korean manufacturing was the growth of factor inputs (labor, capital, and materials); second, the returns to scale accounted for half of the growth in TFP: and third, technical change contributed 45 percent of TFP growth, while capital utilization accounted for only a small portion of TFP growth. [D 24]
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