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Analysis of the Impact of Decreasing Labor and Growing Income Polarization on Economic Growth

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dc.contributor.authorJongwook Won
dc.contributor.authorInsu Chang
dc.date.accessioned2016-01-19T02:17:44Z
dc.date.available2016-01-19T02:17:44Z
dc.date.issued2015
dc.identifier.isbn978-89-6827-242-4
dc.identifier.urihttps://repository.kihasa.re.kr/handle/201002/15078
dc.description.abstractAs Korea's changing demographic structure is expected to exert diverse and far-reaching ripple effects throughout the country's society and economy like Korea's declining birth rate and the increasing aging population affect the quantity of its economically active population. This study aims to examine how the changes in the demographic structure and the growing polarization in income levels interact with each other and affect economic growth. In the result of this study suggests that the qualitative improvement in the country's human capital can help offset the decreasing quantity of labor.
dc.description.tableOfContentsCHAPTER 1 Contents Background 1 CHAPTER 2 Literature Review: Theories of Economic Growth 5 1. Solow’s growth model 7 2. Estimating TFP 10 3. Literature on economic growth in Korea 12 CHAPTER 3 Input Factors for Economic Growth Rate Decomposition 25 1. Gross domestic product (GDP) 27 2. Quantitative input factors 27 3. Qualitative input factors 32 4. Factor income share ratios 37 CHAPTER 4 Decomposition of Economic Growth, 1990-2010 39 1. Primal decomposition 41 2. Dual decomposition 42 3. Different education spending of income quantiles and wage polarization 44 CHAPTER 5 Long-term Growth Projections Using the Dual Method (2011 to 2050) 49 1. LTPNP’s rates of increase in economic growth and TFP 52 2. Long-term TFP projections using the dual method 53 3. Growth accounting predictions (2011-2050) 61 CHAPTER 6 Conclusion: Substitution Effect of the Quality and Quantity of Labor 65 References 73
dc.formatapplication/pdf
dc.languageeng
dc.publisher한국보건사회연구원
dc.publisherKorea Institute for Health and Social Affairs
dc.rightsAttribution-NonCommercial-NoDerivs 2.0 Korea (CC BY-NC-ND 2.0 KR)
dc.rightsKOGL BY-NC-ND
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/2.0/kr/
dc.rights.urihttp://www.kogl.or.kr/info/licenseType4.do
dc.titleAnalysis of the Impact of Decreasing Labor and Growing Income Polarization on Economic Growth
dc.typeBook
dc.type.localReport
dc.subject.keyword노동력 감소
dc.subject.keyword경제성장
dc.type.otherWorking Paper
dc.identifier.localIdWorking Paper 2015-01
dc.subject.kihasa인구변화
dc.subject.kihasa소득보장 일반
KIHASA 주제 분류
소득보장 > 소득보장 일반
인구와 가족 > 인구변화
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