@article{ART002932868},
author={Dong Jin Lee},
title={Asymmetric Changes in Korean Industry and Labor after Economic Crises},
journal={Analyses & Alternatives},
issn={2508-822X},
year={2023},
volume={7},
number={1},
pages={45-81},
doi={10.22931/aanda.2023.7.1.002}
TY - JOUR
AU - Dong Jin Lee
TI - Asymmetric Changes in Korean Industry and Labor after Economic Crises
JO - Analyses & Alternatives
PY - 2023
VL - 7
IS - 1
PB - Korea Consensus Institute
SP - 45
EP - 81
SN - 2508-822X
AB - This paper examines how Korean economy has been asymmetrically changed after economics crises. The three crises during the last three decades, covid19, global financial crisis, and currency crisis, have deteriorated the economic inequalities of Korea in various ways. First, manufacture industry has been affected larger by economic crises, but recovered fast. The shocks in service sector were small but persist longer or were permanent. Second, although the covid19 spreaded out more to the capital area, the negative economic shock was greater in the non-capital region. That is, the crisis in the capital region transferred or amplified to the other region. Third, the inequality between permanent and temporary workers became worse after crises. Fourth, the sluggish small business growth problem became more serious during the covid19. In order to overcome the industrial and labor inequality, it is desirable to government strategy for economic development from focusing on high value-added industry to a balanced growth for all industry and region. To this end, governemt support should be asymmetric. That is, it should focus on indirect support such as regulatory reforms in the high value-added and private-led industries, and, for small business related service sector and non-capital region which have had limited opportunity of renovation and growth, the more active effort of government and government-driven gowth strategy would be desirable.
KW - Economic crisis;government policy;industrial asymmetry;labor inequality;regional inequality;small business
DO - 10.22931/aanda.2023.7.1.002
ER -
Dong Jin Lee. (2023). Asymmetric Changes in Korean Industry and Labor after Economic Crises. Analyses & Alternatives, 7(1), 45-81.
Dong Jin Lee. 2023, "Asymmetric Changes in Korean Industry and Labor after Economic Crises", Analyses & Alternatives, vol.7, no.1 pp.45-81. Available from: doi:10.22931/aanda.2023.7.1.002
Dong Jin Lee "Asymmetric Changes in Korean Industry and Labor after Economic Crises" Analyses & Alternatives 7.1 pp.45-81 (2023) : 45.
Dong Jin Lee. Asymmetric Changes in Korean Industry and Labor after Economic Crises. 2023; 7(1), 45-81. Available from: doi:10.22931/aanda.2023.7.1.002
Dong Jin Lee. "Asymmetric Changes in Korean Industry and Labor after Economic Crises" Analyses & Alternatives 7, no.1 (2023) : 45-81.doi: 10.22931/aanda.2023.7.1.002
Dong Jin Lee. Asymmetric Changes in Korean Industry and Labor after Economic Crises. Analyses & Alternatives, 7(1), 45-81. doi: 10.22931/aanda.2023.7.1.002
Dong Jin Lee. Asymmetric Changes in Korean Industry and Labor after Economic Crises. Analyses & Alternatives. 2023; 7(1) 45-81. doi: 10.22931/aanda.2023.7.1.002
Dong Jin Lee. Asymmetric Changes in Korean Industry and Labor after Economic Crises. 2023; 7(1), 45-81. Available from: doi:10.22931/aanda.2023.7.1.002
Dong Jin Lee. "Asymmetric Changes in Korean Industry and Labor after Economic Crises" Analyses & Alternatives 7, no.1 (2023) : 45-81.doi: 10.22931/aanda.2023.7.1.002
