Korea's Manufacturing Exports Boosted by Technological Advancements and Scale Efficiency
This study looked at the productivity levels in the manufacturing industries of Korea, China, and Japan to see how it affects exports. They found that technological progress plays a big role in productivity, especially in Korea. Scale effects were important for all three countries. During the 2008 financial crisis, Korea's productivity dropped but recovered after a couple of years. Technological efficiency had a positive impact on exports in Japan. In Korea, industries like chemicals and electronics benefited from technological progress, while the oil industry in all three countries and electronics in Korea and Japan saw positive effects from scale. To improve productivity and exports, more investment in research and development for technology and production facilities is needed, especially to manage scale effects effectively.