INDUSTRIAL RELATIONS AND ECONOMIC GROWTH IN KOREA

Ki Seong Park

8 citations0/0 files storedPacific Economic Review

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Labor Movements and Unions Labor market dynamics and wage inequality Economic Theory and Policy

Abstract

Abstract. The wage rate, labour productivity, and labour share are examined as they relate to changing industrial relations over the last four decades in the Korea. The results imply that the labour share is greater than that of Korea's competitive equilibrium in the 1990s. We analyse the effect of industrial relations on economic growth through a theoretical model comparing the growth rate of the competitive equilibrium with that of the bargaining equilibrium. The bargaining growth rate is lower than that of the competitive equilibrium. Among bargaining equilibria, the growth rate decreases as the labour share increases.

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1988On the mechanics of economic development 1986Increasing Returns and Long-Run Growth 1957Technical Change and the Aggregate Production Function 1965Optimum Growth in an Aggregative Model of Capital Accumulation 1975Accounting for United States Economic Growth, 1929-1969.1991The industrial relations system in Japan: An interpretation and policy implications

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