Economic growth and interfactor/interfuel substitution in Korea

Won G. Cho, Kiseok Nam, José A. Pagán

Research output: Contribution to journalArticlepeer-review


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 languageEnglish (US)
Pages (from-to)31-50
Number of pages20
JournalEnergy Economics
Issue number1
StatePublished - Jan 2004


  • Developing country
  • Economic growth
  • Interfactor/interfuel substitutability

ASJC Scopus subject areas

  • Economics and Econometrics
  • General Energy


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