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Teknoloji Benimseme, İnovasyon ve Güney Kore Mucizesi

Year 2024, Volume: 58 Issue: 1, 103 - 118, 31.01.2024
https://doi.org/10.51551/verimlilik.1344143

Abstract

Amaç: Ana amaç, özenli bir analiz ve gerçekçi bir denge modeli ile Güney Kore mucizesinin mikroekonomik temellerini anlamaktır.
Yöntem: Makale, verimlilik büyümesinin, (i) beşerî sermayeye, (ii) ülkenin küresel teknoloji uç sınırına olan uzaklığına ve (iii) kentsel yığılma düzeyine içsel olduğu basit bir denge modeli inşa etmektedir. Makale, 1960 sonrası dönem için Güney Kore ulusal hesaplarından çeşitli gözlemlenen değişkenleri kullanarak, gözlemlenmemiş verimlilik terimlerini belirlemekte ve hesaplamaktadır. Makale, daha sonra, model parametrelerinin yapısal tahminlerini ve ayrıştırma analizinin sonuçlarını sunmaktadır.
Bulgular: Güney Kore ekonomisi başlangıçta geri bir teknoloji kullanırken, 1980’lerin başında yenilikçi bir ekonomi haline gelmektedir. Yapısal tahminler, kentsel yığılmanın Güney Kore örneğinde istatistiksel olarak anlamlı olmadığını göstermektedir. Son olarak, bir ayrıştırma analizi, 1960’ların başında beşerî sermayenin ve teknoloji uçsınırına olan uzaklığın verimlilik büyümesine benzer katkılar yaptığını göstermektedir.
Özgünlük: Model ekonominin iki sektörü vardır. Modern sektördeki teknoloji, Ölçeğe Göre Sabit Getiri sergilemektedir, ancak geleneksel teknoloji, Ölçeğe Göre Azalan Getirilerle kısıtlanmıştır. Ek olarak hem teknoloji benimseme rejimi hem de yenilik rejimi aynı matematiksel fonksiyonla temsil edilebilmektedir ve bu nedenle makale teorik olarak orijinaldir.

Project Number

-

References

  • Abramovitz, M. (1986). “Catching Up, Forging Ahead, and Falling Behind”, Journal of Economic History, 46(2), 385-406.
  • Acemoglu, D., Aghion, P. and Zilibotti, F. (2006). “Distance to Frontier, Selection, and Economic Growth”, Journal of the European Economic Association, 4(1), 37-74.
  • Attar, M.A. (2018). “Economic Development in Turkey and South Korea: A Comparative Analysis”, Bogazici Journal: Review of Social, Economic & Administrative Studies, 32(1), 1-28.
  • Baumol, W.J. (1986). “Productivity Growth, Convergence, and Welfare: What the Long-Run Data Show”, American Economic Eeview, 1072-1085.
  • Barro, R.J. (1991). “Economic Growth in a Cross Section of Countries”, Quarterly Journal of Economics, 106(2), 407-443.
  • Benhabib, J. and Spiegel, M.M. (2005). “Human Capital and Technology Diffusion”, Handbook of Economic Growth, Vol. 1, 935-966.
  • Bolt, J. and van Zanden, J.L. (2020). “Maddison Project Database”, Version 2020. “Maddison Style Estimates of the Evolution of the World Economy. A New 2020 Update”.
  • Cohen, W.M. and Levinthal, D.A. (1989). “Innovation and Learning: The Two Faces of R&D”, Economic Journal, 99(397), 569-596.
  • Cohen, W.M. and Levinthal, D.A. (1990). “Absorptive Capacity: A New Perspective on Learning and Innovation”, Administrative Science Quarterly, 128-152.
  • DeLong, J.B. (1988). “Productivity Growth, Convergence, and Welfare: Comment”, American Economic Review, 78(5), 1138-1154.
  • Durlauf, S.N. and Quah, D.T. (1999). “The new Empirics of Economic Growth”, Handbook of Macroeconomics, Vol. 1, 235-308.
  • Feenstra, Robert C., Robert Inklaar and Marcel P. Timmer (2015), "The Next Generation of the Penn World Table" American Economic Review, 105(10), 3150-3182.
  • Gerschenkron, A. (1962). “Economic Backwardness in Historical Perspective: A Book of Essays,” Cambridge, MA: The Belknap Press of Harvard University Press.
  • Gomulka, S. (1971). “Inventive Activity, Diffusion, and the Stages of Economic Growth”, Vol. 24, Aarhus University Institute of Economics.
  • Isaksson, A. (2007). “World Productivity Database: A Technical Description”, RST Staff Working Paper, 2007/10, UNIDO.
  • Islam, N. (2003). “What Have We Learnt from the Convergence Debate?”, Journal of Economic Surveys, 17(3), 309-362.
  • Kneller, R. and Stevens, P.A. (2006). “Frontier Technology and Absorptive Capacity: Evidence from OECD Manufacturing Industries”, Oxford Bulletin of Economics and Statistics, 68(1), 1-21.
  • Kormendi, R.C. and Meguire, P.G. (1985). “Macroeconomic Determinants of Growth: Cross-Country Evidence”, Journal of Monetary Economics, 16(2), 141-163.
  • Lucas Jr, R.E. (1988). “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22(1), 3-42.
  • Lucas Jr, R.E. (2009). “Trade and the Diffusion of the Industrial Revolution”, American Economic Journal: Macroeconomics, 1(1), 1-25.
  • Nelson, R.R. and Phelps, E.S. (1966). “Investment in Humans, Technological Diffusion, and Economic Growth”, American Economic Review, 56(1/2), 69-75.
  • Nelson, R.R. and Pack, H. (1999). “The Asian Miracle and Modern Growth Theory”, Economic Journal, 109(457), 416-436.
  • Rogers, M. (2004). “Absorptive Capability and Economic Growth: How Do Countries Catch-Up?”, Cambridge Journal of Economics, 28(4), 577-596.
  • Stokey, N.L. (2015). “Catching Up and Falling Behind”, Journal of Economic Growth, 20, 1-36.
  • Stokke, H.E. (2004). “Technology Adoption and Multiple Growth Paths: An Intertemporal General Equilibrium Analysis of the Catch-Up Process in Thailand”, Review of World Economics, 140, 80-109.
  • Veblen, T. (1915). “Imperial Germany and the Industrial Revolution”, New York: Macmillan Co.

Technology Adoption, Innovation, and the South Korean Miracle

Year 2024, Volume: 58 Issue: 1, 103 - 118, 31.01.2024
https://doi.org/10.51551/verimlilik.1344143

Abstract

Purpose: The main purpose is to understand the microeconomic foundations of the South Korean miracle through careful analysis and a realistic equilibrium model.
Methodology: The paper constructs a simple equilibrium model where productivity growth is endogenous to (i) human capital, (ii) the country’s distance to the global technology frontier, and (iii) the level of urban agglomeration. The paper identifies and calculates unobserved productivity terms using various observed variables from South Korean national accounts for the post-1960 period. The paper then presents the structural estimates of the model parameters and the results of the decomposition analysis.
Findings: While the South Korean economy was initially using a backward technology, it became an innovation economy in the early 1980s. Structural estimates show that urban agglomeration is not statistically significant in the South Korean case. Finally, a decomposition analysis shows that, in the early 1960s, human capital and distance to the frontier made similar contributions to productivity growth.
Originality: The model economy has two sectors. Technology in the modern sector exhibits Constant Returns to Scale, but traditional technology is constrained by Decreasing Returns to Scale. In addition, both the technology adoption regime and the innovation regime can be represented by the same mathematical function, and the article is therefore theoretically original.

Supporting Institution

-

Project Number

-

References

  • Abramovitz, M. (1986). “Catching Up, Forging Ahead, and Falling Behind”, Journal of Economic History, 46(2), 385-406.
  • Acemoglu, D., Aghion, P. and Zilibotti, F. (2006). “Distance to Frontier, Selection, and Economic Growth”, Journal of the European Economic Association, 4(1), 37-74.
  • Attar, M.A. (2018). “Economic Development in Turkey and South Korea: A Comparative Analysis”, Bogazici Journal: Review of Social, Economic & Administrative Studies, 32(1), 1-28.
  • Baumol, W.J. (1986). “Productivity Growth, Convergence, and Welfare: What the Long-Run Data Show”, American Economic Eeview, 1072-1085.
  • Barro, R.J. (1991). “Economic Growth in a Cross Section of Countries”, Quarterly Journal of Economics, 106(2), 407-443.
  • Benhabib, J. and Spiegel, M.M. (2005). “Human Capital and Technology Diffusion”, Handbook of Economic Growth, Vol. 1, 935-966.
  • Bolt, J. and van Zanden, J.L. (2020). “Maddison Project Database”, Version 2020. “Maddison Style Estimates of the Evolution of the World Economy. A New 2020 Update”.
  • Cohen, W.M. and Levinthal, D.A. (1989). “Innovation and Learning: The Two Faces of R&D”, Economic Journal, 99(397), 569-596.
  • Cohen, W.M. and Levinthal, D.A. (1990). “Absorptive Capacity: A New Perspective on Learning and Innovation”, Administrative Science Quarterly, 128-152.
  • DeLong, J.B. (1988). “Productivity Growth, Convergence, and Welfare: Comment”, American Economic Review, 78(5), 1138-1154.
  • Durlauf, S.N. and Quah, D.T. (1999). “The new Empirics of Economic Growth”, Handbook of Macroeconomics, Vol. 1, 235-308.
  • Feenstra, Robert C., Robert Inklaar and Marcel P. Timmer (2015), "The Next Generation of the Penn World Table" American Economic Review, 105(10), 3150-3182.
  • Gerschenkron, A. (1962). “Economic Backwardness in Historical Perspective: A Book of Essays,” Cambridge, MA: The Belknap Press of Harvard University Press.
  • Gomulka, S. (1971). “Inventive Activity, Diffusion, and the Stages of Economic Growth”, Vol. 24, Aarhus University Institute of Economics.
  • Isaksson, A. (2007). “World Productivity Database: A Technical Description”, RST Staff Working Paper, 2007/10, UNIDO.
  • Islam, N. (2003). “What Have We Learnt from the Convergence Debate?”, Journal of Economic Surveys, 17(3), 309-362.
  • Kneller, R. and Stevens, P.A. (2006). “Frontier Technology and Absorptive Capacity: Evidence from OECD Manufacturing Industries”, Oxford Bulletin of Economics and Statistics, 68(1), 1-21.
  • Kormendi, R.C. and Meguire, P.G. (1985). “Macroeconomic Determinants of Growth: Cross-Country Evidence”, Journal of Monetary Economics, 16(2), 141-163.
  • Lucas Jr, R.E. (1988). “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22(1), 3-42.
  • Lucas Jr, R.E. (2009). “Trade and the Diffusion of the Industrial Revolution”, American Economic Journal: Macroeconomics, 1(1), 1-25.
  • Nelson, R.R. and Phelps, E.S. (1966). “Investment in Humans, Technological Diffusion, and Economic Growth”, American Economic Review, 56(1/2), 69-75.
  • Nelson, R.R. and Pack, H. (1999). “The Asian Miracle and Modern Growth Theory”, Economic Journal, 109(457), 416-436.
  • Rogers, M. (2004). “Absorptive Capability and Economic Growth: How Do Countries Catch-Up?”, Cambridge Journal of Economics, 28(4), 577-596.
  • Stokey, N.L. (2015). “Catching Up and Falling Behind”, Journal of Economic Growth, 20, 1-36.
  • Stokke, H.E. (2004). “Technology Adoption and Multiple Growth Paths: An Intertemporal General Equilibrium Analysis of the Catch-Up Process in Thailand”, Review of World Economics, 140, 80-109.
  • Veblen, T. (1915). “Imperial Germany and the Industrial Revolution”, New York: Macmillan Co.
There are 26 citations in total.

Details

Primary Language English
Subjects Sustainable Development, Applied Economics (Other)
Journal Section Araştırma Makalesi
Authors

M. Aykut Attar 0000-0003-0142-713X

Project Number -
Publication Date January 31, 2024
Submission Date August 16, 2023
Published in Issue Year 2024 Volume: 58 Issue: 1

Cite

APA Attar, M. A. (2024). Technology Adoption, Innovation, and the South Korean Miracle. Verimlilik Dergisi, 58(1), 103-118. https://doi.org/10.51551/verimlilik.1344143

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