Premium
Accounting for South Korean GDP Growth: Index‐Number and Econometric Estimates
Author(s) -
Kohli Ulrich,
Werner Augustin
Publication year - 1998
Publication title -
pacific economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.34
H-Index - 33
eISSN - 1468-0106
pISSN - 1361-374X
DOI - 10.1111/1468-0106.00047
Subject(s) - economics , index (typography) , real gross domestic product , growth accounting , econometric model , econometrics , production function , production (economics) , capital (architecture) , macroeconomics , monetary economics , total factor productivity , history , world wide web , computer science , productivity , archaeology
The paper estimates the contribution of each one of the major determinants of South‐Korean nominal GDP growth: technological change, movements in the terms of trade, increases in the endowments of labor and capital, and changes in domestic output prices. An index‐number technique is used as well as an econometric approach. Both have a tight theoretical foundation, being based on the GDP function approach to modeling the production sector of an open economy.