earticle

영어

This study shows that productivity and economic growth are related closely in most target countries, and demographic changes and labor market conditions are also identified as major variables for economic growth. Since 2000‘s, the demographic and labor market factors have been more emphasized as inhibition factor of Korean economic growth than in the past. In 2000's, with decrease in productivity improvement, employment growth rate have also not been able to reach half of 1980's. This reveals that negative effects from substitution effects of productivity improvement has descended while positive effects from compensation effects of productivity improvement has relatively decreased more. However Korea shows still higher substitution effects and compensation effects in comparison internationally in 2000's.