@article{ART003214892},
author={Han, Hongyul},
title={A Note on the Speed of Structural Changes and Economic Growth: Cases of Korea and Japan},
journal={Analyses & Alternatives},
issn={2508-822X},
year={2025},
volume={9},
number={2},
pages={7-34},
doi={10.22931/aanda.2025.9.2.001}
TY - JOUR
AU - Han, Hongyul
TI - A Note on the Speed of Structural Changes and Economic Growth: Cases of Korea and Japan
JO - Analyses & Alternatives
PY - 2025
VL - 9
IS - 2
PB - Korea Consensus Institute
SP - 7
EP - 34
SN - 2508-822X
AB - Economic development is a dynamic process involving both structural transformation and economic growth. Therefore the speed of structural change carries significant implications as it shapes the relative economic performance of nations. The current stagnant economic situations of Japan and Korea can largely be attributed to the slowing speed of structural change. This study traces structural change in both countries since the 1970s. The study identifies a notable deceleration of structural changes in both economies since the 2000s. The finding suggests that both economies have failed to upgrade their industrial structures significantly while the world economy has experienced industrial and technological transformation. This study also confirmed that the speed of structural change strongly influences economic growth. As the speed of structural changes reflects the capacity of an economy to allocate resource efficiently, it could be a good candidate index for innovation. Therefore growth stagnation in both economies may be an inevitable result of delayed structural transformation, suggesting that Korea and Japan may face the “ advanced income trap”. While both countries have pursued industrial policy reform in one way or another, those efforts appear ineffective in producing real change when measured by the speed of industry structure in this study.
KW - Economic Development;Industry Structure;Growth Rate;Trade Structure;Korea;Japan
DO - 10.22931/aanda.2025.9.2.001
ER -
Han, Hongyul. (2025). A Note on the Speed of Structural Changes and Economic Growth: Cases of Korea and Japan. Analyses & Alternatives, 9(2), 7-34.
Han, Hongyul. 2025, "A Note on the Speed of Structural Changes and Economic Growth: Cases of Korea and Japan", Analyses & Alternatives, vol.9, no.2 pp.7-34. Available from: doi:10.22931/aanda.2025.9.2.001
Han, Hongyul "A Note on the Speed of Structural Changes and Economic Growth: Cases of Korea and Japan" Analyses & Alternatives 9.2 pp.7-34 (2025) : 7.
Han, Hongyul. A Note on the Speed of Structural Changes and Economic Growth: Cases of Korea and Japan. 2025; 9(2), 7-34. Available from: doi:10.22931/aanda.2025.9.2.001
Han, Hongyul. "A Note on the Speed of Structural Changes and Economic Growth: Cases of Korea and Japan" Analyses & Alternatives 9, no.2 (2025) : 7-34.doi: 10.22931/aanda.2025.9.2.001
Han, Hongyul. A Note on the Speed of Structural Changes and Economic Growth: Cases of Korea and Japan. Analyses & Alternatives, 9(2), 7-34. doi: 10.22931/aanda.2025.9.2.001
Han, Hongyul. A Note on the Speed of Structural Changes and Economic Growth: Cases of Korea and Japan. Analyses & Alternatives. 2025; 9(2) 7-34. doi: 10.22931/aanda.2025.9.2.001
Han, Hongyul. A Note on the Speed of Structural Changes and Economic Growth: Cases of Korea and Japan. 2025; 9(2), 7-34. Available from: doi:10.22931/aanda.2025.9.2.001
Han, Hongyul. "A Note on the Speed of Structural Changes and Economic Growth: Cases of Korea and Japan" Analyses & Alternatives 9, no.2 (2025) : 7-34.doi: 10.22931/aanda.2025.9.2.001
