The Fundamental Sources of Technological Progress in Korean Manufacturing during 1973-1993

다국어 초록 (Multilingual Abstract)

The objective of this study is to identify the source of technological progress in Korean manufacturing during 1973-1993. We used the extreme bound analysis of Levine and Renelt (1992)and employed a variety of all possible macroeconomic growth variables including R&D sectors. We examined the robustness of macroeconomic indicators in the relationship with the technological progress." None of the macroeconomic indicators, except trade sectors, show a positive and robust relationship with technological progress. In the trade sector, the growth of total exports, total imports,light industry exports, and capital goods imports shows a positive and robust relationship with technological progress. We conclude that the fundamental sources of technological progress of Korean manufacturing will be from the growth of export and imports.

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