Labor reallocation and productivity growth
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Total productivity grows through technological progress orreallocation of resources. This paper analyses their contribution toeconomic growth by decomposing economy-wide and sectoralproductivity changes into reallocation of labor and internalproductivity growth using Korean firm-level data. The main finding isthat inter-sector reallocation of labor negatively contributes toproductivity growth as employment moves to service sectors with lowproductivity, but this is offset by industrial technological progress. Onthe other hand, intra-sector decomposition of productivity growthshows that both reallocation of labor input across firms within anindustry and productivity improvement of firms make positivecontributions to the productivity growth.
Abstract
Total productivity grows through technological progress orreallocation of resources. This paper analyses their contribution toeconomic growth by decomposing economy-wide and sectoralproductivity changes into reallocation of labor and internalproductivity growth using Korean firm-level data. The main finding isthat inter-sector reallocation of labor negatively contributes toproductivity growth as employment moves to service sectors with lowproductivity, but this is offset by industrial technological progress. Onthe other hand, intra-sector decomposition of productivity growthshows that both reallocation of labor input across firms within anindustry and productivity improvement of firms make positivecontributions to the productivity growth.
참고문헌 (11)
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