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Economic growth and Income distribution: The case of Korean R&D Investment

Listed author(s):
  • Sungmoon Jung
  • Yeo Yeongjun
  • Jeong-Dong Lee

In the article, we analyze that how the innovative activity affects to income redistribution, which have been considered for prolonged period. The effect of spending on R&D usually affects to higher income level; however, the lower income group also becomes easier to approach to high-tech devices since the internet have developed. Both of groups could earn same information in the same time in spite of different income level. According to the fact, we examine how the R&D investment impact to the each income group. We employ the dynamic Computational General Equilibrium (CGE) model in order to measure the aggregate effect, reflecting the channels of the positive and negative effects and considering the reactions of individual industries and economic agents that it follows in change of public and private R&D expenditure. The result reveals that the R&D spending affect positively to economic growth, but it brings about negative effect on income distribution. In addition, we find a skill-biased technological change in South Korea.

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Paper provided by EcoMod in its series EcoMod2014 with number 7045.

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Date of creation: 03 Jul 2014
Handle: RePEc:ekd:006356:7045
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