Intangible Investment and Changing Sources of Growth in Korea

Hyunbae Chun and M. Ishaq Nadiri
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M. Ishaq Nadiri: New York University

The Japanese Economic Review, 2016, vol. 67, issue 1, No 4, 50-76

Abstract: 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.

Keywords: O47; E22; O14; O53 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1111/jere.12079

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