 Comparison of Employment Policies Aimed to Deal With Aging Population with respect to Their Effect of Improving Growth Rate (in Korean)Ki-Ho Kim ()
Economic Analysis (Quarterly), 2011, vol. 17, issue 4, 52-98 Abstract: This paper compares and analyzes the effects of increase in labor input, improvement in total factor and productivity on growth. In the analysis, it appears that significant improvement in growth takes place when total factor productivity steadily rises by the increase in effective labor forces through human capital accumulation and improvement in R&D, whereas growth effect is weak in the case of simple labor input increase caused by the rise in participation in economic activities, extension of retirement age and inflows of foreign labor. Korea needs to shift growth strategy from quantitative to qualitative ones in order to effectively deal with the problem of sluggish growth. To this end, we should nurture human capital with global competitiveness by reforming high education system, and should enhance productivity by accumulating material capital through investments in R&D and technology development and by combining the human capital with the material capital. Keywords: Aging; Endogenous growth theory; CGE model; OLG model (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bok:journl:v:17:y:2011:i:4:p:52-98 Access Statistics for this article Economic Analysis (Quarterly) is currently edited by Wook Sohn, Hwan-koo Kang and Jaerang Lee More articles in Economic Analysis (Quarterly) from Economic Research Institute, Bank of Korea Contact information at EDIRC. |
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