Emergence of Manufacturing Related Services and Collaboration between Korea and China Manufacturing Innovation Perspectives

Sang Hyun Lee ()
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Sang Hyun Lee: Korea Institute for Industrial Economics and Trade, http://www.kiet.re.kr

No 19-24, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: The emergence of manufacturing related services (MRS) coincides with the revaluation of manufacturing. We observed that manufacturing-focused countries overcame the financial crisis which broke out in 2007 with less difficulty than their service-focused counterparts. Manufacturing played a crucial role in navigating the economic problems such as unemployment, polarization and stagnant growth and so on. Moreover, this pattern of positive impacts from the manufacturing sector was observed from European countries trying to boost their economy. Germany, a manufacturing-driven economy, showed continuous economic growth, while service-driven economies in Greece and Austria experienced recession. This work reevaluates the importance of manufacturing.

Keywords: manufacturing; service; MRS (search for similar items in EconPapers)
JEL-codes: L60 L80 O11 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2023-01-08
New Economics Papers: this item is included in nep-cna
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Persistent link: https://EconPapers.repec.org/RePEc:ris:kieter:2019_024

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