Research, technological change and financial liberalization in South Korea

James Ang

Journal of Macroeconomics, 2010, vol. 32, issue 1, 457-468

Abstract: Drawing on the recent developments in innovation-based growth models that emphasize the importance of financial factors and R&D activity, this paper explores the impact of research efforts and financial sector reforms on inventive activity, using Korea as the case study. Based on time series data over the period 1967-2005, the results consistently show that the implementation of a series of financial liberalization policies is strongly associated with a higher rate of knowledge generation. They also show that R&D intensity has a significant positive influence on ideas production, providing some support for the Schumpeterian endogenous growth framework.

Keywords: Financial; liberalization; Knowledge; creation; Endogenous; growth; Korea (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (28)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jmacro:v:32:y:2010:i:1:p:457-468

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