Intangible Investment and Changing Sources of Growth in Korea

Hyunbae Chun, M. Ishaq Nadiri

    Research output: Contribution to journalArticlepeer-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 languageEnglish (US)
    Pages (from-to)50-76
    Number of pages27
    JournalJapanese Economic Review
    Volume67
    Issue number1
    DOIs
    StatePublished - Mar 1 2016

    ASJC Scopus subject areas

    • Economics and Econometrics

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