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Industrial Relations And Economic Growth In Korea

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  • KiSeong Park

Abstract

The wage rate, labour productivity, and labour share are examined as they relate to changing industrial relations over the last four decades in the Korea. The results imply that the labour share is greater than that of Korea's competitive equilibrium in the 1990s. We analyse the effect of industrial relations on economic growth through a theoretical model comparing the growth rate of the competitive equilibrium with that of the bargaining equilibrium. The bargaining growth rate is lower than that of the competitive equilibrium. Among bargaining equilibria, the growth rate decreases as the labour share increases. Copyright 2007 The Author Journal compilation 2007 Blackwell Publishing Ltd

Suggested Citation

  • KiSeong Park, 2007. "Industrial Relations And Economic Growth In Korea," Pacific Economic Review, Wiley Blackwell, vol. 12(5), pages 711-723, December.
  • Handle: RePEc:bla:pacecr:v:12:y:2007:i:5:p:711-723
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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0106.2007.00382.x
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    Cited by:

    1. Amy Peng & Louis N. Christofides, 2009. "Real Wage Chronology," Working Papers 011, Ryerson University, Department of Economics.
    2. Eichengreen, Barry & Park, Donghyun & Shin, Kwanho, 2014. "Growth slowdowns redux," Japan and the World Economy, Elsevier, vol. 32(C), pages 65-84.

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