Intangible Investment and Changing Sources of Growth in Korea

Hyunbae Chun; M. Ishaq Nadiri

doi:10.1111/jere.12079

Intangible Investment and Changing Sources of Growth in Korea

Hyunbae Chun, M. Ishaq Nadiri

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

Abstract

We examine how intangible investments change the sources of growth in the Korean economy. After constructing a novel industry-level data set on intangibles, we estimate the contribution of intangible-intensive industries and other industries to aggregate productivity growth in 1981-2008. The contribution of intangible-intensive industries to aggregate labour productivity growth has significantly increased, whereas that of other industries has substantially decreased. The increased contribution of intangible-intensive industries is mainly associated with total factor productivity growth rather than with input growth. This suggests that innovations related to intangible investments in these industries might become a new key source of productivity growth in Korea.

Original language	English (US)
Pages (from-to)	50-76
Number of pages	27
Journal	Japanese Economic Review
Volume	67
Issue number	1
DOIs	https://doi.org/10.1111/jere.12079
State	Published - Mar 1 2016

ASJC Scopus subject areas

Economics and Econometrics

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10.1111/jere.12079

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Intangible Investment and Changing Sources of Growth in Korea

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