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Government Interventions and Productivity Growth in Korean ManufacturingIndustries

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  • Jong-Wha Lee

Abstract

This paper investigates the impact of government industrial policy and trade protection of the manufacturing sector in Korea. Empirical results are provided, using 4-period panel data for the years 1963-83, for 38 Korean industries in which trade protection reduced growth rates of labor productivity and total factor productivity, while industrial policies, such as tax incentives and subsidized credit, were not correlated with total factor productivity growth in the promoted sectors. The evidence, thus, implies that less government intervention in trade is linked to higher productivity growth.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 5060.

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Date of creation: Mar 1995
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Publication status: Published as "Government Interventions and Productivity Growth", JEG, Vol. 1, no. 3 (September 1996): 391-414.
Handle: RePEc:nbr:nberwo:5060

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  1. Deepak Lal, 1993. "Poverty and Development," UCLA Economics Working Papers, UCLA Department of Economics 707, UCLA Department of Economics.
  2. Nishimizu, Mieko & Robinson, Sherman, 1984. "Trade policies and productivity change in semi-industrialized countries," Journal of Development Economics, Elsevier, Elsevier, vol. 16(1-2), pages 177-206.
  3. Barro, Robert J. & Lee, Jong-Wha, 1994. "Sources of economic growth," Carnegie-Rochester Conference Series on Public Policy, Elsevier, Elsevier, vol. 40(1), pages 1-46, June.
  4. Gene M. Grossman & Elhanan Helpman, 1990. "Trade, Knowledge Spillovers, and Growth," NBER Working Papers 3485, National Bureau of Economic Research, Inc.
  5. Alwyn Young, 1992. "A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore," NBER Chapters, National Bureau of Economic Research, Inc, in: NBER Macroeconomics Annual 1992, Volume 7, pages 13-64 National Bureau of Economic Research, Inc.
  6. Pack, Howard & Westphal, Larry E., 1986. "Industrial strategy and technological change : Theory versus reality," Journal of Development Economics, Elsevier, Elsevier, vol. 22(1), pages 87-128, June.
  7. Susan M. Collins & Won-Am Park, 1989. "External Debt and Macroeconomic Performance in South Korea," NBER Chapters, National Bureau of Economic Research, Inc, in: Developing Country Debt and the World Economy, pages 121-140 National Bureau of Economic Research, Inc.
  8. Jagdish N. Bhagwati, 1978. "Anatomy and Consequences of Exchange Control Regimes," NBER Books, National Bureau of Economic Research, Inc, National Bureau of Economic Research, Inc, number bhag78-1.
  9. Susan M. Collins & Won-Am Park, 1989. "External Debt and Macroeconomic Performance in South Korea," NBER Chapters, National Bureau of Economic Research, Inc, in: Developing Country Debt and Economic Performance, Volume 3: Country Studies - Indonesia, Korea, Philippines, Turkey, pages 151-152 National Bureau of Economic Research, Inc.
  10. Jong-Wha Lee, 1993. "International Trade, Distortions, and Long-Run Economic Growth," IMF Staff Papers, Palgrave Macmillan, vol. 40(2), pages 299-328, June.
  11. Balassa, Bela, 1988. "The Lessons of East Asian Development: An Overview," Economic Development and Cultural Change, University of Chicago Press, University of Chicago Press, vol. 36(3), pages S273-90, Supplemen.
  12. Rudiger Dornbusch & Yung Chul Park, 1987. "Korean Growth Policy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(2), pages 389-454.
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Cited by:
  1. Jin, Jang C., 2006. "Can openness be an engine of sustained high growth rates and inflation?: Evidence from Japan and Korea," International Review of Economics & Finance, Elsevier, Elsevier, vol. 15(2), pages 228-240.
  2. L. Alan Winters, 2000. "Trade Liberalisation and Poverty," PRUS Working Papers, Poverty Research Unit at Sussex, University of Sussex 07, Poverty Research Unit at Sussex, University of Sussex.
  3. Fernandes, Ana M., 2007. "Trade policy, trade volumes and plant-level productivity in Colombian manufacturing industries," Journal of International Economics, Elsevier, Elsevier, vol. 71(1), pages 52-71, March.
  4. Nicholas Crafts, 2000. "Development history," Economic History Working Papers, London School of Economics and Political Science, Department of Economic History 22384, London School of Economics and Political Science, Department of Economic History.
  5. Jin, Jang C., 2006. "Openness, growth, and inflation: Evidence from South Korea before the economic crisis," Journal of Asian Economics, Elsevier, Elsevier, vol. 17(4), pages 738-757, October.
  6. Robert Z. Lawrence & David E. Weinstein, 1999. "Trade and Growth: Import-Led or Export-Led? Evidence From Japan and Korea," NBER Working Papers 7264, National Bureau of Economic Research, Inc.
  7. Akinlo, Anthony Enisan, 2005. "Impact of Macroeconomic Factors on Total Factor Productivity in Sub-Saharan African Countries," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) RP2005/39, World Institute for Development Economic Research (UNU-WIDER).

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