Job reallocation in Korean manufacturing: 1984–2014

Changkeun Lee and Cheongyeon Won

Journal of Asian Economics, 2021, vol. 74, issue C

Abstract: This paper investigates the patterns of job reallocation in Korean manufacturing during the period 1984–2014. Utilizing establishment-level data from the Mining and Manufacturing Survey, we construct job flow measures and document the trend of job reallocation and test its efficiency. We first find that the pace of job reallocation has diminished since the Asian Financial Crisis. Although jobs were reallocated from less productive to more productive establishments overall, we find that the productivity-enhancing effect has also diminished over time. Although recessions are known to be periods of intense reallocation and restructuring, job reallocation was not particularly more efficient during recessions in Korea. It even decreased during the Great Recession of 2008 because the exit probability of low-TFP establishments was reduced.

Keywords: Job reallocation; Productivity; Korea; Job flow; Great Recession; Asian Financial Crisis (search for similar items in EconPapers)
JEL-codes: J23 J63 O47 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:asieco:v:74:y:2021:i:c:s1049007821000245

DOI: 10.1016/j.asieco.2021.101295

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