• The Journal of the Korea Contents Association
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• v.12 no.9
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• pp.357-368
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• 2012

The purpose of this study is to empirically examine the impact of enterprise R&D investment on international trade in Korea under the new Normal Era. In order to test whether the time series data of trade variables are stationary or not, we put in operation unit root test and cointegration test. Based on VECM (Vector Error Correction Model), we also apply impulse response functions and variance decomposition to estimate the dynamic effects in the short-run and long-run. The results show that the relationship between enterprise R&D investment and international trade (export and import) exists in the long-run as well as in the short-run. The results of applying impulse response functions and variance decomposition also indicate that the impact of enterprise R&D investment on international trade is positive, and a significant portion of fluctuations in the trade variable is explained by enterprise R&D investment. Therefore, enterprise R&D investment must be continuously increased to improve economic growth with promoting trading competition power in Korea under the new Normal Era.

• The Journal of the Korea Contents Association
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• v.13 no.2
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• pp.390-399
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• 2013

The purpose of this study is to examine the impact of enterprise R&D investment on inter-industry technology spillover in Korea under the new Normal Era. In order to do this, we tested the effect of production inducement, backward and forward linkage effects, and the effect of technology spillover such as technology intensity effects and technology diffusion effects based on an input-output framework. The results show that the high index industries of the production inducement effect were professional, scientific and technical activities, manufacture of metal products, and general machinery. Some manufacturers of other non-metallic mineral products and transport equipment sectors appeared to have the strong effect of forward and backward linkages that were almost equivalent to high-tech manufacturing industries. In particular, the industries of professional, scientific and technical activities appeared to have the strong effect of both forward and backward linkages. Therefore, we need to drive a strong policy support to higher enterprise R&D investment in the those particular industries not only to increase global competitiveness, but also to widen up the technology spillover effect on other industries.