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Total Factor Productivity in Korean Manufacturing Industries

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  • Inha Oh
  • Jeong-Dong Lee
  • Almas Heshmati

Abstract

In this study, parametric and non-parametric methods are employed to measure the total factor productivity (TFP) growth in the Korean manufacturing industry from 1993 to 2003. The analysis period contains both periods before and after the Asian financial crisis. The TFP growth rate is decomposed into different components. Also different elasticities are reported. By classifying the results by period and classifying a number of time invariant firm characteristics, such as sector, size, and location of firms, we observe systematic heterogeneity for each characteristic. We discuss the underlying causal factors. The results from a non-parametric approach are also compared with those of a parametric approach.

Suggested Citation

  • Inha Oh & Jeong-Dong Lee & Almas Heshmati, 2008. "Total Factor Productivity in Korean Manufacturing Industries," Global Economic Review, Taylor & Francis Journals, vol. 37(1), pages 23-50.
    • Handle: RePEc:taf:glecrv:v:37:y:2008:i:1:p:23-50
    DOI: 10.1080/12265080801911907
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    References listed on IDEAS

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    1. Gary Gregory & Charles Harvie & Hyun-Hoon Lee, 2002. "KOREAN SMEs IN THE 21-super-st CENTURY: STRATEGIES, CONSTRAINTS AND PERFORMANCE IN A GLOBAL ECONOMY," Economic Papers, The Economic Society of Australia, vol. 21(3), pages 64-79, September.
    2. Chin Hee Hahn, 2004. "Exporting and Performance of Plants: Evidence from Korean Manufacturing," NBER Working Papers 10208, National Bureau of Economic Research, Inc.
    3. Gustavsson, Patrik & Poldahl, Andreas, 2003. "Determinants of Firm R&D: Evidence from Swedish Firm Level Data," Working Paper Series 190, Trade Union Institute for Economic Research.
    4. Gregory, Gary & Harvie, Charles & Lee, Hyun-Hoon, 2002. "Korean SMEs in the Wake of the Financial Crisis: Strategies, Constraints and Performance in a Global Economy," Economics Working Papers wp02-12, School of Economics, University of Wollongong, NSW, Australia.
    5. Gopinath Pradhan & Kaustuva Barik, 2004. "Sustainability of Output Growth in Indian Manufacturing: A Decomposition Analysis of Selected Industries," Microeconomics 0405003, University Library of Munich, Germany.
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    Cited by:

    1. Bory Seng, 2010. "The Driving Forces Underlying the Growth of Total Factor Productivity in Cambodia," TEMEP Discussion Papers 201068, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Oct 2010.
    2. Donghyun Oh & Almas Heshmati & Hans Lööf, 2012. "Technical change and total factor productivity growth for Swedish manufacturing and service industries," Applied Economics, Taylor & Francis Journals, vol. 44(18), pages 2373-2391, June.
    3. Ghulam, Yaseen & Dhruva, Kamini, 2024. "Banking sector reforms in a challenging environment: An emerging financial market experience," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 1074-1096.
    4. Inha Oh & Won-Sik Hwang & Hong Jun Yoon, 2019. "The Role of Work-Family Balance Policy for Enhancing Social Sustainability: A Choice Experiment Analysis of Koreans in their Twenties and Thirties," IJERPH, MDPI, vol. 16(14), pages 1-15, July.
    5. Sauer, J. & Park, T. & Graversen, J., 2008. "Organic Farming in Denmark – Productivity, Technical Change and Market Exit," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 43, March.
    6. Wang-Jin Yoo & Inha Oh, 2017. "Effect of Work-Family Balance Policy on Job Selection and Social Sustainability: The Case of South Korea," Sustainability, MDPI, vol. 9(5), pages 1-15, May.
    7. MIYAGAWA Tsutomu & Keun LEE & EDAMURA Kazuma & YoungGak KIM & Hosung JUNG, 2014. "Is Productivity Growth Correlated with Improvements in Management Quality? An empirical study using interview surveys in Korea and Japan," Discussion papers 14048, Research Institute of Economy, Trade and Industry (RIETI).
    8. Sauer, Johannes & Graversen, Jesper T. & Park, Timothy A., 2006. "Breathtaking or Stagnating? - Productivity, Technical Change and Structural Dynamics in Danish Organic Farming," 2006 Annual meeting, July 23-26, Long Beach, CA 21481, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Nuno Araújo & Leonardo Costa, 2012. "The Productivity Of Innovation In Portugal," Working Papers de Economia (Economics Working Papers) 05, Católica Porto Business School, Universidade Católica Portuguesa.
    10. Budy P. Resosudarmo & Catur Sugiyanto & Ari Kuncoro, 2012. "Livelihood Recovery after Natural Disasters and the Role of Aid: The Case of the 2006 Yogyakarta Earthquake," Asian Economic Journal, East Asian Economic Association, vol. 26(3), pages 233-259, September.
    11. Almas Heshmati & Hyesung Kim, 2011. "The R&D and productivity relationship of Korean listed firms," Journal of Productivity Analysis, Springer, vol. 36(2), pages 125-142, October.
    12. Tomasz Gerard Czekaj & Arne Henningsen, 2012. "Comparing Parametric and Nonparametric Regression Methods for Panel Data: the Optimal Size of Polish Crop Farms," IFRO Working Paper 2012/12, University of Copenhagen, Department of Food and Resource Economics.
    13. Inha Oh & Seogwon Hwang, 2024. "Assessing the Effect of the Size of R&D Subsidies on the Economic Performance of SMEs: Comparison of Manufacturing and Service Firms in Korea," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 518-546, March.
    14. Heshmati, Almas, 2013. "The Effect of Credit Guarantees on R&D Investment of SMEs in Korea," IZA Discussion Papers 7851, Institute of Labor Economics (IZA).

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