• Journal of Technology Innovation
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• v.19 no.3
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• pp.57-83
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• 2011

We suggested industry-specific priorities of R&D investment with R&D investment elasticity to GDP calculated from the ripple effect of 28 large-sized industry R&D investment, using a Computable General Equilibrium(CGE) Model. Priority orders apply to only 12 industries, because 16 industries with less than 1% of total investment have been excluded. First, R&D investment elasticity to GDP says that priorities are ordered as Basic metal products, Chemicals, drugs and medicines, Food, beverages and tobacco products, Electronic and electrical equipment, Transportation equipment, Precision instruments, Electrictity, gas, steam and water supply, General machinery and equipment, Communications and broadcasting, Construction, Other services, and Real estate and business services. These priorities show the status quo of Korean industry structures well. The GDP growth rate to 2030 year reference equilibrium, which is an auxiliary index, says a similar priority to results from R&D investment elasticity to GDP. In the end, two criteria of priority order can be functioned as a good index for National Science and Technology Commission deciding what industry to invest and what budget to allocate.

• Journal of Technology Innovation
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• v.14 no.1
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• pp.31-66
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• 2006

The country with a relative abundance of human capital conducts relatively more R&D in the steady state than its partner. This country acquires the know-how to produce a relatively wider range of innovative goods. High technology comprises a large share of the national economy in the human-capital rich country and real output growth is faster. This prediction would seem to accord weakly with empirical observation of Korean economy.