Economic growth and interfactor/interfuel substitution in Korea

Won G. Cho; Kiseok Nam; José A. Pagán

doi:10.1016/j.eneco.2003.04.001

Economic growth and interfactor/interfuel substitution in Korea

Won G. Cho, Kiseok Nam, José A. Pagán

Global Public Health

Research output: Contribution to journal › Article › peer-review

Abstract

This paper investigates the impact of increases in oil consumption and changes in wage rates on the interfactor/interfuel substitution in Korea. A two-stage translog cost function is estimated to incorporate the feedback effect between the interfactor and interfuel substitution. Empirical results show that the substitutability/complementarity relationships among factors and fuels exhibit substantially different patterns before and after 1989.

Original language	English (US)
Pages (from-to)	31-50
Number of pages	20
Journal	Energy Economics
Volume	26
Issue number	1
DOIs	https://doi.org/10.1016/j.eneco.2003.04.001
State	Published - Jan 2004

Keywords

Developing country
Economic growth
Interfactor/interfuel substitutability

ASJC Scopus subject areas

Economics and Econometrics
General Energy

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10.1016/j.eneco.2003.04.001

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title = "Economic growth and interfactor/interfuel substitution in Korea",

abstract = "This paper investigates the impact of increases in oil consumption and changes in wage rates on the interfactor/interfuel substitution in Korea. A two-stage translog cost function is estimated to incorporate the feedback effect between the interfactor and interfuel substitution. Empirical results show that the substitutability/complementarity relationships among factors and fuels exhibit substantially different patterns before and after 1989.",

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author = "Cho, {Won G.} and Kiseok Nam and Pag{\'a}n, {Jos{\'e} A.}",

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AU - Cho, Won G.

AU - Nam, Kiseok

AU - Pagán, José A.

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AB - This paper investigates the impact of increases in oil consumption and changes in wage rates on the interfactor/interfuel substitution in Korea. A two-stage translog cost function is estimated to incorporate the feedback effect between the interfactor and interfuel substitution. Empirical results show that the substitutability/complementarity relationships among factors and fuels exhibit substantially different patterns before and after 1989.

KW - Developing country

KW - Economic growth

KW - Interfactor/interfuel substitutability

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Economic growth and interfactor/interfuel substitution in Korea

Abstract

Keywords

ASJC Scopus subject areas

Access to Document

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