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来源类型Working Paper
规范类型报告
DOI10.3386/w29252
来源IDWorking Paper 29252
The Plant-Level View of an Industrial Policy: The Korean Heavy Industry Drive of 1973
Minho Kim; Munseob Lee; Yongseok Shin
发表日期2021-09-20
出版年2021
语种英语
摘要Does industrial policy work? This is a subject of long-standing debates among economists and policymakers. Using newly digitized microdata, we evaluate the Korean government's policy that promoted heavy and chemical industries between 1973 and 1979 by cutting taxes and building new industrial complexes for them. We show that output, input use, and labor productivity of the targeted industries and regions grew significantly faster than those of non-targeted ones. While the plant-level total factor productivity also grew faster in targeted industries and regions, the misallocation of resources within them got significantly worse, especially among the entrants, so that the total factor productivity at the industry-region level did not increase relative to the non-targeted industries and regions. In addition, we provide new evidence on how industrial policy reshapes the economy: (i) The establishment size distribution of targeted industries and regions shifted to the right with thicker tails due to the entry of large establishments and (ii) the targeted industries became more important in the economy's input-output structure in the sense that their output multipliers increased significantly more.
主题Macroeconomics ; Consumption and Investment ; Development and Growth ; Development ; Country Studies
URLhttps://www.nber.org/papers/w29252
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/586926
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Minho Kim,Munseob Lee,Yongseok Shin. The Plant-Level View of an Industrial Policy: The Korean Heavy Industry Drive of 1973. 2021.
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