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The Contribution of Industries over Sixty Years of Economic Growth in South Korea

Author

Listed:
  • Gil, Eunsun

    (Korea Institute for Industrial Economics and Trade)

Abstract

This article reassesses the contribution of industry over 60 years of economic growth in South Korea. The study bases its analysis using one-digit level industrial classification codes used in national GDP accounts, and analyzes the patterns of industrial concentration of growth by looking at five-digit level industrial classification for the most recent 10 years. Based on the historical evidence of economic growth in South Korea, the findings of the work carry five key implications for for economic growth from an industrial policy perspective. It is possible that future economic growth patterns may be totally different with those of the past, but learning from history offers some insight to policy makers seeking to design a realistic roadmap for continued economic prosperity.

Suggested Citation

  • Gil, Eunsun, 2021. "The Contribution of Industries over Sixty Years of Economic Growth in South Korea," Industrial Economic Review 21-17, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kieter:2021_017
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    More about this item

    Keywords

    economic growth; industrial policy; Korea; growth policy; GDP growth;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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