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Research, technological change and financial liberalization in South Korea
JOURNAL OF MACROECONOMICS (2010)
  • James B Ang, Nanyang Technological University
Abstract
Drawing on the recent developments in innovation-based growth models that emphasize the importance of financial factors and R&D activity, this paper explores the impact of research efforts and financial sector reforms on inventive activity, using Korea as the case study. Based on time series data over the period 1967–2005, the results consistently show that the implementation of a series of financial liberalization policies is strongly associated with a higher rate of knowledge generation. They also show that R&D intensity has a significant positive influence on ideas production, providing some support for the Schumpeterian endogenous growth framework.
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Publication Date
2010
Citation Information
James B Ang. "Research, technological change and financial liberalization in South Korea" JOURNAL OF MACROECONOMICS (2010)
Available at: http://works.bepress.com/james_ang/22/