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Policy Study Economic Dynamism of Korea: With a Focus on the Economic Concentration of Business Groups December 30, 2017

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Series No. 2017-14

Policy Study KOR Economic Dynamism of Korea: With a Focus on the Economic Concentration of Business Groups #Issue Analysis #Financial Market Structure
DOIhttps://doi.org/10.22740/kdi.ps.2017.14 P-ISBN979-11-5932-291-4 E-ISBN979-11-5932-299-0

December 30, 2017

  • 프로필
    Cho, Duksang
Summary
The gross domestic product (GDP) growth rate of South Korea has declined since 2011 mainly due to dampened growth in total factor productivity (TFP). By studying changes in productivity growth from 2006 to 2015 with firm-level microdata, this paper shows that a decrease in allocative efficiency across firms can account for the recent dampened aggregate productivity growth and that most of a decrease in allocative efficiency since 2011 can be attributed to firms affiliated with business groups subject to the limitation on cross-shareholding designated by the Fair Trade Commission. Given the fact that business groups’ shares in input markets have been steadily rising, the economic concentration of business groups can be a main factor in the recent misallocations, which give rise to the diminished economic dynamism and dampened TFP growth of South Korea.
Contents
발간사
요 약

제1장 서 론

제2장 우리 경제의 생산성 증가율 둔화요인 분석
 제1절 분석자료: 통계청 「기업활동조사」
 제2절 분석방법: Dynamic Olley-Pakes Decomposition
 제3절 분석 결과: 기업 간 자원배분 효율성의 감소

제3장 자원배분 효율성 감소의 주요인: 기업집단
 제1절 최근 기업집단으로의 경제력 집중 증가 추세
 제2절 기업집단이 기업 간 자원배분 효율성의 하락에 미친 영향
 제3절 기업 규모에 따른 기업 간 자원배분 효율성 하락요인 분석

제4장 기업집단의 성장과 우리 경제의 역동성 하락
 제1절 기업집단의 자본투입 중심 성장
 제2절 기업집단 형성을 통한 기업의 성장경로
 제3절 소유지배구조에 따른 진입률과 퇴출률의 차이

제5장 결 론

참고문헌
부 록
ABSTRACT
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