Innovative Korea : lessons on leveraging innovation and technology for development / Hoon Sahib Soh, Youngsun Koh, and Anwar Aridi.

Format:

Book

Author/Creator:

Soh, Hoon Sahib, author.

Ko, Yŏng-sŏn, author.

Aridi, Anwar, author.

Language:

English

Subjects (All):

Economic development.

Physical Description:

1 online resource (316 pages)

Edition:

First edition.

Place of Publication:

Washington, DC : International Bank for Reconstruction and Development / The World Bank, [2023]

Summary:

Innovative Korea, edited by Hoon Sahib Soh, Youngsun Koh, and Anwar Aridi, explores the development of South Korea's economy through innovation and technology. This work, a product of the World Bank, delves into Korea's rapid transformation into a high-income economy, highlighting key factors such as macroeconomic performance, structural changes, firm dynamics, and inclusive growth. The book examines Korea's transition from state-led to market-led development, the role of innovation in economic growth, and the significance of human capital investment. It also discusses Korea's integration into global markets and the challenges faced in sustaining growth. Aimed at policymakers and development professionals, the book provides insights on leveraging innovation for development, with implications for other developing countries. Generated by AI.

Contents:

Front Cover

Contents

Foreword

Acknowledgments

About the Editors

Overview

Abbreviations

Chapter 1 The Foundation of Korea's Long-Run Growth

Introduction

Korea's Rapid Development

Conclusions and Implications for Developing Countries

Notes

References

Chapter 2 Korea's Transition to a High-Income Economy

Macroeconomic Performance and Key Sources of Growth

Structural Transformation of the Economy

Firm Dynamics

Inclusive Growth

Green, Sustainable Growth

Chapter 3 Transformation of Korea's Growth Paradigm

Development of the Private Sector

Transformation of the State-Market Paradigm

The Asian Financial Crisis

Comprehensive Financial Sector Reforms

Promoting Private Markets: From State-Led to Market-Led Development

Korea's Growing Focus on SME and Entrepreneurship Development

Chapter 4 Leveraging Global Integration and International Trade

Trade Liberalization in the GVC Era

Financial Integration and Economic Consequences

Trade and Financial Integration and Macroeconomic Stability

Conclusion and Policy Implications for Developing Countries

Chapter 5 Promoting Innovation and Technology

Korea's Innovation Leadership

National Innovation System and R&amp

D in Korea

Evolution of Korea's STI Policy

Innovation and Growth: Remaining Challenges

Chapter 6 Investing in Human Capital and Strengthening the Labor Market

Human Capital Development in Korea

The Labor Market in Korea.

Conclusions and Lessons for Developing Countries

Boxes

Box 1.1 The Middle-Income Trap

Box 1.2 Industrialization and the Industrial Policy Debate

Box 1.3 Korea's Five Largest Chaebols

Box 2.1 How Have Global Productivity Trends Evolved?

Box 2.2 Is Korea Capturing the Promise of Services-Led Growth?

Box 3.1 The Republic of Korea's Digital Government Reforms

Box 3.2 Public Procurement and SME Growth and Innovation in the Republic of Korea

Box 4.1 Republic of Korea-US Free Trade Agreement

Box 4.2 Reserve Accumulation and Global Imbalances

Box 4.3 Empirical Analysis of the Impact of Global Trade Shocks on Macroeconomic Fluctuations

Box 5.1 Korea's Semiconductor Industry

Box 5.2 Pangyo Techno Valley

Box 5.3 Case Study of the Information Technology Gaming Industry in the Republic of Korea

Box 6.1 Brain Korea 21

Figures

Figure O.1 Gross Domestic Product per Capita in the Republic of Korea, the OECD, and EMDEs, 1960-2020

Figure O.2 Relative Income Dynamics, OECD Countries, 1960-2019

Figure O.3 Capital Formation and Its Contribution to Gross Domestic Product Growth

Figure O.4 Gross Capital Formation, 1960-2020

Figure O.5 Total Factor Productivity, 1960-2019

Figure O.6 Changes in Industrial Economic and Employment Structure, 1970-2018

Figure O.7 Within- and Between-Sector Labor Productivity Growth, 1980-2017

Figure O.8 Sectoral Labor Productivity, Republic of Korea, 1970-2018

Figure O.9 TFP Growth Decomposition Based on Enterprise Data, 1991-2018

Figure O.10 Trade Openness, 1970-2018

Figure O.11 Foreign Direct Investments of Republic of Korea, China, and Other Countries, 1982-2018

Figure O.12 Structural Changes in Korean Merchandise Exports, 1980-2010

Figure O.13 Value-Added Share, by Level of Technology, Republic of Korea, 1980-2018.

Figure O.14 Digital Adoption Index, OECD Countries, 2021

Figure O.15 Value Added of the ICT Sector, 2020

Figure O.16 Gini Coefficients, 1990-2016

Figure O.17 Greenhouse Gas Emissions, GDP, and Carbon Intensity, 1990-2019

Figure O.18 Impartial Administration and Predictable Enforcement of Laws, Republic of Korea, 1900-2015

Figure O.19 Relative Strength of Elite Actors, Republic of Korea, 1904-2015

Figure O.20 Legal Enforcement by the KFTC, 1981-2019

Figure O.21 Effectively Applied Weighted Tariff Rates, Republic of Korea, 1989-2019

Figure O.22 R&amp

D versus GDP per Capita, across Countries, 1965-2020

Figure O.23 Sources of R&amp

D Expenditure, Republic of Korea, 1995-2018

Figure O.24 Targeting of Beneficiaries by Ministry as Share of Total Resources Allocated, 2018

Figure O.25 Estimated Technology Sophistication in Manufacturing, Selected Countries

Figure O.26 Changing Trend in Gross Enrollment Rates, by Level of Education, Republic of Korea, 1965-2019

Figure O.27 Labor Market Development since the AFC, Republic of Korea, 1997-2016

Figure 1.1 Relative Income Dynamics, 1960-2019

Figure 1.2 Income Level and Long-Run Economic Growth in Subsequent Years

Figure 1.3 Central Government Financial Balance, 1970-2019

Figure 1.4 Outstanding Stock of External Assets and Liabilities, 1965-2019

Figure 1.5 Imports and Exports, 1955-2019

Figure 1.6 Trend in Import Liberalization, 1955-99

Figure 1.7 Relationship between Government Effectiveness and per Capita Income

Figure 1.8 Gross Capital Formation, 1960-2020

Figure 1.9 Gross Enrollment Rate, by Level of Education, 1965-2019

Figure 1.10 Wage Premium Compared to High School, by Level of Education, 1980-2016

Figure 1.11 Share of Students Attending Private Institutions, 1965-2019

Figure 1.12 Infant Mortality Rate, 1970-2018.

Figure 1.13 Life Expectancy at Birth, 1965-2020

Figure 2.1 GDP and GDP per Capita, 1960-2020

Figure 2.2 Capital Formation and Its Contribution to GDP Growth

Figure 2.3 Human Capital

Figure 2.4 Total Factor Productivity, 1960-2019

Figure 2.5 Capital Contribution to Growth and Capital Returns

Figure 2.6 Public and Private Capital Stock per Capita, 2017

Figure 2.7 Total Factor Productivity Growth, 1974-2019

Figure 2.8 Changes in Industrial Economic and Employment Structure, 1970-2018

Figure 2.9 International Comparison of Industrial Structural Transformation

Figure 2.10 Labor Productivity, Republic of Korea, by Sector

Figure 2.11 Sectoral Labor Productivity Compared to Global Frontiers, 1970-2018

Figure 2.12 Productivity Growth and Structural Transformation, 1980-2017

Figure 2.13 Key Capital-Intensive Industries, Republic of Korea

Figure 2.14 Shares of Technology (Research and Development)-Intensive Manufacturing Industries, 1980-2018

Figure 2.15 Electrical Manufacturing, Republic of Korea

Figure 2.16 Labor Productivity of Manufacturing Subsectors, 1970-2018

Figure 2.17 Key Industries versus Non-Key Industries, Republic of Korea, 2002- 17

Figure 2.18 Labor Productivity of the Service Sector, 1998-2018

Figure 2.19 Employment Share of Traditional Services in Total Services

Figure B2.2.1 Compound Annual Growth Rate of Value Added per Worker in the Service and Industry Sectors, 1991-2019

Figure 2.20 Performance of Manufacturing Firms, by Size, 1980-2019

Figure 2.21 Employment Shares, by Firm Size: Manufacturing and Selected Services across Countries

Figure 2.22 TFP Growth Decomposition, 1991-2018

Figure 2.23 Total Factor Productivity and Employment Growth, by Plant Age

Figure 2.24 Productivity Decomposition of Within Effects, by Plant Age, 1991-2018.

Figure 2.25 Productivity Decomposition into Different Tech Sectors, 1995-2013

Figure 2.26 Average TFP Growth of Young Plants and Productivity Decomposition by Age, 1991-2018

Figure 2.27 Productivity and Export Growth in Manufacturing, 2000-17

Figure 2.28 Gini Coefficients, 1990-2016

Figure 2.29 Wage, by Establishment Size, 1980-2019

Figure 2.30 Labor Productivity of Small and Medium-Size Manufacturing Firms Relative to Large Firms, OECD Countries, 2017 or Most Recent Year

Figure 2.31 Use of Maternity and Childcare Leaves, by Firm Size, 2018

Figure 2.32 Employment-to-Population Ratio, by Sex and Age, Republic of Korea, 2020

Figure 2.33 Employment-to-Population Ratio for Prime Working-Age (25-54) Women, OECD Countries, 2019

Figure 2.34 Total Fertility Rate and GDP per Capita across Countries, 2017

Figure 2.35 Share of the Elderly (65 years and older) in the Population, 1950-2060

Figure 2.36 Relative Poverty in the OECD Area, 2018 or Most Recent Year

Figure 2.37 Greenhouse Gas Emissions, GDP, and Carbon Intensity, 1990-2019

Figure 2.38 Share of Manufacturing Carbon Emissions and GDP, 2005-19

Figure 2.39 Annual Growth Rate of the Carbon Intensity of Energy Use, by Manufacturing Sector

Figure 3.1 Structure and Evolution of Enterprises, by Size, Republic of Korea, 2000-18

Figure 3.2 Birth Rate of Enterprises, Selected Countries, 2016

Figure 3.3 Structure of Enterprises, by Size, Republic of Korea and OECD Average, 2018

Figure 3.4 GVC Participation of Manufacturing Enterprises, Republic of Korea, 2010-14

Figure 3.5 Trends in the Adoption of Digital Technologies, Republic of Korea, 2010-17

Figure 3.6 Robot Density in the Manufacturing Sector, Selected Economies, 2019

Figure 3.7 Technology Adoption, by Sector and Firm Size Group (General Business Functions), Republic of Korea.

Figure 3.8 Trajectory toward Impartial Administration and Predictable Enforcement Laws, UMICs, OECD, and the Republic of Korea, 1900-2015.

Notes:

Description based on publisher supplied metadata and other sources.

Part of the metadata in this record was created by AI, based on the text of the resource.

Description based on print version record.

Includes bibliographical references.

Other Format:

Print version: Soh, Hoon Sahib Innovative Korea

ISBN:

9781464819841

146481984X

OCLC:

1401058875