산업구조 변화가 경제성장에 미치는 영향에 관한 연구: 성장수렴 가설 검정을 중심으로 = A Study on the Industrial Structure Change and Economic Growth under Testing for the Growth Convergence Hypothesis in Product Space

다국어 초록 (Multilingual Abstract)

This paper analyze the augmented solow-type model including the traditional slow-type variable (capital, labor), human capital index, network industrial centrality measure in product space using a dynamic panel regression with fixed effects. In addition, we test for the growth convergence hypothesis under this augmented solow-type model. Especially, the solow-type growth model is further augmented and estimated to include the network industrial centrality in addition to proxy for structure transformation in product space, i.e., industrial structure advancement in manufacturing sector. The empirical results based on the dynamic panel model with fixed effect and estimated by generalized method of moments illustrates that the estimated elasticity of network industrial centrality measure in product space is significantly positive in almost all of the model specifications as theoretically expected and have a effect on the  -convergence rate in a different manner. Also, with these results, we carefully predict that the industrial structure advancement in manufacturing sector has more significantly and effectively effects on economic growth and supports the product space and new growth theory.

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