From Capital-Driven to Knowledge-Driven Growth in Korea
AbstractUtilizing insights from new growth theory, Porter's competitive advantage theory, and Kojima's theory of DFI, this paper analyzes the overall growth mechanism of the Korean economy by integrating various dimensions, such as factor intensity changes, sectoral growth, trade performance, and direct foreign investment. This paper points out "knowledge accumulation" as one of the engines of growth in the Korean economy, and shows that although knowledge intensity has steadily increased over the last decade Korean industrial growth is still dominated by physical capital accumulation. Then, the problem with the Korean economy is that the fast growing sectors are mostly capital albeit not necessarily knowledge intensive sectors. This is not a desirable pattern of industrial change since high capital intensity eventually leads to declining profitability. Another problem is with weak national competitiveness, which is implied by the negative correlation between value-added per worker of sectors and their shares in world export.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Institute of Economic Research, Seoul National University in its series Working Paper Series with number no30.
Date of creation: Mar 2000
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2000-04-04 (All new papers)
- NEP-DEV-2000-04-04 (Development)
- NEP-EDU-2000-04-04 (Education)
- NEP-HIS-2000-04-11 (Business, Economic & Financial History)
- NEP-INO-2000-04-04 (Innovation)
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Seo seung-Hee).
If references are entirely missing, you can add them using this form.