Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/109443
Authors: 
Park, Donghyun
Shin, Kwanho
Year of Publication: 
2012
Series/Report no.: 
ADB Economics Working Paper Series 324
Abstract: 
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.
Subjects: 
Services
structural change
growth
productivity
Republic of Korea
JEL: 
O14
O40
O47
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/igo
Document Type: 
Working Paper

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