earticle

영어

This paper examines the limits of Korea's exogenous economic growth and the necessity of changing to endogenous economic growth. Contrary to exogenous economic growth with the import of foreign capital and technology, endogenous economic growth demands that we build a new paradigm with our own capital accumulation and endogenous technical innovation. For this structural change, Korea should make an efficient incentive system to encourage investment in new technology development. In conclusion, only endogenous technical innovation can lead Korean economic growth in this world economy circumstances.