The Korean KLEMS Database Hak K. Pyo (Seoul National University) Hyunbae Chun (Sogang University) Keun Hee Rhee (Korea Productivity Center) The First World.

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Presentation transcript:

The Korean KLEMS Database Hak K. Pyo (Seoul National University) Hyunbae Chun (Sogang University) Keun Hee Rhee (Korea Productivity Center) The First World KLEMS Conference August 19-20, 2010 Harvard University

Korea KLEMS: History Industry-level Database in Korea before KIP2007 DB –KDI (2004; 29 industries) –Pyo et al. (2005; 33 industries) First KLEMS Database for ICPA(International Comparison of Productivity among Asian Countries) Project 2

Korea KLEMS: History –Launched by RIETI (33 industries for China, Korea, Japan, Taiwan and the United States, 1980~2000) –Published in Productivity in Asia, edited by Jorgenson, Kuroda and Motohashi, Edward Elgar (2007) –Growth Accounting and Productivity Analysis by 33 Industrial Sectors in Korea ( ) by Pyo, Rhee and Ha 3

Korea KLEMS: History Korea Industrial Productivity (KIP) Database Project in 2007 –Following EU KLEMS Manual (Timmer et al., 2007) –72 industries for

KIP Database: Variables Construction Gross output (GO) –Bank of Korea internal data Labor Input –Employment, Hours, Compensation –Composition: 18 types = Gender(2) x Age (3) x Education (3) for 15 industries Intermediate Input –Use U & V tables to divide intermediate inputs into E,M,S 5

Capital Input KIPEUKLEMS 1970–1997 – National Wealth Survey (1968, 1977, 1987, 1997) 1998–2007 – Modified Perpetual inventory method – Country-specific depreciation rates (Pyo, 2003) Perpetual inventory method (PIM) Same depreciation rates for all EU countries 6

Estimated Initial Capital Stock by Dadkhah and Zahedi(1986) Method and K_EUKLEMS AustraliaAustriaUKFinlandGermany Initial year D-Z Method796,984326,2991,051,334123,6476,430,996 K_EUKLEMS650,802375,181812,482100,2315,480,048 Difference(%)22.5%-13.0%29.4%23.4%17.4% ItalyNetherlandsJapanKoreaSlovenia Czech Republic Initial year D-Z Method1,252,831432,994464,920,978278,071,75825,71810,599,354 K_EUKLEMS1,143,575548,984452,780,704119,339,60421,3916,501,090 Difference(%)9.6%-21.1%2.7%133.0%20.2%63.0% Source: Pyo(2008) 7

Percentage Difference between Estimated Initial Capital Stock by Dadkhah and Zahedi(1986) Method and K_EUKLEMS Source: Pyo(2008) 8

Estimated Initial Capital Stock by Kohli (1982) Method and K_EUKLEMS AustraliaAustriaUKFinlandGermany Initial year Kohli Method625,856360,211780,460164,0205,181,816 K_EUKLEMS650,802375,181812,482100,2315,480,048 Difference(%)-3.8%-4.0%-3.9%63.6%-5.4% ItalyNetherlandsJapanKoreaSlovenia Czech Republic Initial year Kohli Method1,736,841654,907782,181,760190,198,63615,3674,309,882 K_EUKLEMS1,143,575548,984452,780,704119,339,60421,3916,501,090 Difference(%)51.9%19.3%72.8%59.4%-28.2%-33.7% Source: Pyo(2008) 9

Percentage Difference between Estimated Initial Capital Stock by Kohli(1982) Method and K_EUKLEMS Source: Pyo(2008) 10

KIP versus K_EUKLEMS KIP Korea Productivity Center EUKLEMS KIP industries up to 2005 GO VA KLEMS TFPGO (TFPVA) March 2008 Release 72 industries up to 2005 GO VA KLEMS TFPVA KIP industries up to 2007 GO VA KLEMS TFPGO (TFPVA) November 2009 Release 32 industries up to 2007 GO VA KLM TFPVA 11

Notes: 2000=100; for Korea & for the other countries MFP (Gross Output) Whole Economy: Korea, US, Japan, EU10

MFP (Value-added) Market Economy: Korea, US, Japan, EU15EX

Contributions to Gross Output Growth 14

Contributions to Value-Added Growth in the Market Economy

Sectoral Composition of MFP Growth in the Market Economy 16

World Input-Output Database (WIOD) Project International collaborative research project based on international Input-Output Tables Main purpose –Construction of internationally harmonized database –for the data between countries and between industries –about national production structure, international trade, socio-economic issues and environmental issues

Koreas Participation in WIOD WIODs first annual consortium meeting –Vienna, May 26-28, 2010 –Paper presented: The Effect of Intangible Investment on Employment in Korea –Supplied WIOD with available Korean I-O tables from 1995 to current Koreas Participation –Plans to take an active role in this kind of international research –Intends to provide Korean data for the construction of DB, following WIODs 3 years( ) schedule 18

KIP 2010 Plan KIP 2010 –Updates DB for 72 industries for –Available in December 2010 –Extends estimation methods for TFP Gross output and value added growth accountings TFP analysis for specific sectors –New growth engines and ICT sectors –Intangible investment (following Corrado, Hulten and Sichels definition) including R&D Seoul International Conference on Productivity –October 20, 2010