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Growth and Reform in the Korean Economy Proceedings of the Conference on Growth and Reform in Korea - Implications for Australia

Author

Listed:
  • Jung Soo Seo

    (Australia Japan Research Centre)

  • Jong-Soon Kang
  • Heejin Lee
  • Sangjo Oh
  • Russell D. Lansbury
  • Nick Wailes
  • Eugene Yun

Abstract

This paper explores the issue of outward foreign direct investment (OFDI) exporting Korean jobs during 9862003. In the midst of an overall increase in employment in Korea, there was a temporally coincident increase in OFDI and a decline in manufacturing employment. An examination of the employment structure and capital stock changes suggests that there had been a structural transition in the Korean economy from a capital intensive to a knowledge intensive base. Simple regression analyses demonstrated that the OFDI from Korea had a checking effect on rising unemployment. As such, the increase in unemployment can be attributed to the trends of the time and the East Asian financial crisis.

Suggested Citation

  • Jung Soo Seo & Jong-Soon Kang & Heejin Lee & Sangjo Oh & Russell D. Lansbury & Nick Wailes & Eugene Yun, 2005. "Growth and Reform in the Korean Economy Proceedings of the Conference on Growth and Reform in Korea - Implications for Australia," Development Economics Working Papers 22704, East Asian Bureau of Economic Research.
    • Handle: RePEc:eab:develo:22704
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    File URL: http://www.eaber.org/node/22704
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    More about this item

    Keywords

    Growth refrom; Korea; Australia; OFDI; Outward foreign direct investment; Employment; capital stock; incentive base; East Asian Financial Crisis;
    All these keywords.

    JEL classification:

    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration

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