A comparative analysis of inter-industry wage differentials: before and after the Korean financial crisis

Yujin Oh, Sung-Joon Park and Yu-Seop Kim

Applied Economics, 2007, vol. 39, issue 11, 1387-1397

Abstract: Korean economy has changed rapidly since the 1997 Korean financial crisis. This article investigates whether the inter-industry wage differentials in the Korean manufacturing industry are consistent over time and how the inter-industry wage structure has changed after the financial crisis. We used the 1995 and 1999 survey report on the wage structure-Korea. Our empirical results provide evidences for a wider inter-industry wage differentials and changes of the wage structure. After the crisis, company size, region (live in capital), sex, tenure, education are more critical to determine wages. According to factor analysis, the job quality factor is most closely related to wages before the crisis, while the industry attributes factor does in 1999.

Date: 2007
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DOI: 10.1080/00036840600606286

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