Performance of the Service Sector in the Republic of Korea: An Empirical Investigation

Arbeitspapier

There is a widespread perception that the Republic of Korea's service sector lags behind its dynamic world-class manufacturing sector. We empirically analyze the past performance of the Republic of Korea's service sector in order to assess its prospects as an engine of growth. Our analysis resoundingly confirms the conventional wisdom of an underperforming service sector. In light of the Republic of Korea's high income and development level, the poor performance of modern services is of particular concern. We identify a number of factors underlying the poor performance, and set forth policy recommendations for addressing them. Overall, the Republic of Korea faces a challenging but navigable road ahead in developing a high value-added service sector.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ADB Economics Working Paper Series ; No. 324

Classification and Topics

• Classification: Wirtschaft ; Industrialization; Manufacturing and Service Industries; Choice of Technology ; Economic Growth and Aggregate Productivity: General ; Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
• Subject: Services ; structural change ; growth ; productivity ; Republic of Korea ; Dienstleistungssektor ; Konjunktur ; Produktivität ; Strukturwandel ; Südkorea

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Park, Donghyun ; Shin, Kwanho
• Event: Veröffentlichung
• (who): Asian Development Bank (ADB)
• (where): Manila
• (when): 2012

Further information

• Handle: http://hdl.handle.net/10419/109443
• Last update: 10.03.2025, 11:42 AM CET