Growth Accounting Analysis of Korean Port-Logistics Industry

한국의 항만물류산업의 성장회계 분석

The purpose of this study is to analyze contribution factors of economic growth through growth accounting analysis in Korean port-logistics industry. Comparing with the average level of entire industry for 1990-2003, the contributions of total factor productivity and labor in port-logistics industry were high, but that of capital stock was very low. The pattern of growth in Korean port-logistics industry has greatly changed before and after Korean financial crisis. Before the 1997 financial crisis, the economic growth rate of port-logistics industry was 14.1%, which is higher than that of the whole industries, 7.7% for 1990-1998. Main contribution factors of the economic growth rate were the growth of capital stock and productivity, but ratios of their contributions were relatively low and did not come up to that for the whole industry. After the financial crisis, annualized growth rate of GDP in port-logistics industry had rapidly declined at 5.4% for 1998-2003, which did not get to that of the entire industry (10.1%). The main contribution factors of the economic growth rate over the 1998-2003 period were capital stock 13.1%, labor 57.0 %, and total factor productivity 29.9 %, Such growth pattern as excess dependence on growth of labor brought reduction of the rate of economic growth with degradation of productivity growth in the Korean port-logistics industry.

본 연구의 목적은 한국의 항만물류산업의 성장회계분석을 통하여 경제성장의 기여요인을 분석하는 것이다. $1990{\sim}2003$년간 항만물류산업은 전 산업 평균에 비하여 총요소생산성과 노동의 기여도는 높고 자본스톡 기여도는 낮다. 외환위기 전후로 항만물류산업의 성장 패턴은 크게 변화하였다. 외환위기 이전, $1990{\sim}1998$년간 항만물류산업의 경제성장률은 14.1%로 전 산업 평균 경제성장률 7.7%보다 크게 높고 그 주된 기여요인도 자본스톡과 총요소생산성으로 나타나지만 이들의 기여도는 전 산업 평균에 미치지 못하였다. 외환위기 이후, $1998{\sim}2003$년간 항만물류산업의 경제성장률은 5.4%로 전 산업 평균(10.1%)에 크게 미치지 못하였고 경제성장에 대한 기여도는 자본스톡 13.1%, 노동 57.0%, 총요소생산성(성장률) 29.9%로 노동에 의존한 성장패턴이 총요소생산성의 성장률 저하와 함께 경제성장률을 격감시키는 결과를 초래하였다.