• Proceedings of the KSR Conference
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• 2010.06a
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• pp.432-436
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• 2010

This paper investigates the productivity growth in Korean railway lines. The productivity growth is calculated by a process of measuring of pure efficiency change index(PECI), scale efficiency change index(SECI), and technical change index(TCI), using Data envelopment analysis (DEA) method. The data cover the period 1990~2007; 1990~2003 are the pre-structural reform years and the post-structural reform years are 2005~2007. The framework for the analysis is Malmquist Productivity Index (MPI) of the to investigate the impacts of structural reform on productivity growth, respectively. The inputs considered are the length of operating line, the number of staff, the number of coach and wagon, and the outputs are the trains movement of passenger and freight, and the traffic of passenger and freight.

• International Commerce and Information Review
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• v.12 no.4
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• pp.67-109
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• 2010

The theory of creative class has shown that the creative people are the key factor of success in regional economic growth. The creative people strengthen the economic competitiveness which is crucial to attract, cultivate and mobilize the resources of that region. In order to examine the theory of creative class for regional economic growth and firm productivity in Korea, this study uses the panel data of 492 Korean firms of the industrial complex producing electic and electronic manufactured goods. They are grouped into 10 industrial complexes among 16 metropolitan areas. Our findings demonstrate that creative class and 3Ts are related to the ratio of creative population density and the regional economic growth. Specifically the creative core class is of more significance to the regional economic growth than the creative professional class or the creative artist class. In our findings the panel analysis of random effects model shows that the talent index of 3Ts as well as the regional climates arc related to the individual firm's total factor productivity. This also reflects a conglomeration of the other regional climates statistically. On the other hand, the research and development expenditure of individual firms shows positive influence for each second consecutive year for the total factor productivity. Sales volume also contributes to the total factor productivity. In conclusion, we recommend that it is important to upgrade the level of creative climates by attracting the creative minds and R&D investment of the enterprises for regional economic growth and firm's total factor productivity.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1998.10a
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• pp.107-110
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• 1998

This paper investigates the productivity growth of four manufacturing industries employing TFP and Malmquist productivity indexes on data for 13 OECD countries covering 1977-1990, and estimates the effects of R&D investment on productivity growth. The results show that there is a large difference between these indexes, and that R&D effects on productivity using TFP and Malmquist productivity indexes are different in value and significance.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.1033-1039
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• 2020

Vietnam is conducting an export-led growth model and labour-intensive industries contributing majorly to the total export value. In the context of Industry 4.0, the labour-based industries are significantly affected; hence, enhancing productivity is the key measure to maintain these industries. The garment industry contributes significantly to the total export value of Vietnam. Based on meta-frontier framework, the approach of data envelopment analysis is used to measure technical efficiency of Vietnamese garment firms and the global Malmquist TFP index is utilised to identify productivity change and its components including efficiency, technology and technical gaps between different groups of firms. The data of Vietnamese garment firms from 2013 to 2018 collected from the Vietnam General Statistic Office is used in this study. The results show that: (i) The total factor productivity of Vietnamese garment firms growth, technical progress is the main contributor; (ii) The private garment sector is the leading group; (iii) There is a large technological gap among Vietnamese garment sectors. The private and FDI garment firms have experienced a growth in all components of total factor productivity change. Meanwhile, technological progress change is the main reason to constrain the productivity growth of state-owned garment firms.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.66
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• pp.263-284
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• 2015

This study has analyzed the efficiency of 10 leading global shipping companies listed in the New York Stock Exchange from2010 to 2014 in order to find the changes of the productivity of shipping industry. The paper observed the Malmquist Productivity Index by using Efficiency and Productivity Analysis System Version 1.0. The data used in this study is the Guggenheim Shipping ETF mainly including the companies of shipping, management, and shipbuilding areas. The results from this statistical analysis indicate that the 10 selected companies have experienced a severely negative growth in 2010. Nevertheless, these companies have accomplished a significant growth of productivity. In particular, the energy transport companies operating Tanker and LNG ships carried out remarkable growth. The reason why the productivity of liner shipping companies did not show the improvement of productivity for five years was attributed to the fact that the P3(Project 3) or M2(Maersk-MSC) including Maersk, MSC, and CMA-CGM were excluded in this research because of the difficulty of attaining reliable source data. The method of this study could be extended to Korean shipping corporations and other global airlines to investigate a changes of certain industries.

• Journal of Microbiology and Biotechnology
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• v.23 no.4
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• pp.539-544
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• 2013

The effects of culture depth (2-10 cm) and cell density on the growth rate and biomass productivity of Chlorella sp. XQ-200419 were investigated through the use of a self-designed open circular pond photobioreactor-imitation system. With increases in culture depths from 2 to 10 cm, the growth rate decreased significantly from 1.08 /d to 0.39 /d. However, the biomass productivity only increased slightly from 8.41 to 11.22 $g/m^2/d$. The biomass productivity (11.08 $g/m^2/d$) achieved in 4 cm culture with an initial $OD_{540}$ of 0.95 was similar to that achieved in 10 cm culture with an initial $OD_{540}$ of 0.5. In addition, the duration of maximal areal productivity at a 4 cm depth was prolonged from 1 to 4 days, a finding that was also similar to that of the culture at a 10 cm depth. In both cases, the initial areal biomass densities were identical. Based on these results and previous studies, it can be concluded that the influence of culture depth and cell density on areal biomass productivity is actually due to different areal biomass densities. Under suitable conditions, there are a range of optimal biomass densities, and areal biomass productivity reaches its maximum when the biomass density is within these optimal ranges. Otherwise, biomass productivity will decrease. Therefore, a key factor for high biomass productivity is to maintain an optimal biomass density.

• Analyses & Alternatives
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• v.4 no.2
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• pp.71-102
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• 2020

This study analyzes the effect of demographic changes on economic growth. We use the supply-side output identity to forecast the growth potential of the Korean economy. According to the results, even based on optimistic assumptions and prospects, the economic growth rate is likely to fall drastically starting in 2020. Of course, to maintain growth potential, efforts to increase productivity are necessary. However, given the historical experience of developed countries, it is not clear whether the huge trend of demographic change can be offset by efforts to increase productivity. In the so-called '30-50 club' countries, both labor productivity and growth rate tend to fall after reaching the per capita income of $30,000. The degree of decline in the growth rate is closely related to changes in the working age population and the prime-age workforce. The results are similar when tracking the path of changes in total factor productivities of the economy. When a certain level of income is reached, the increase in total factor productivity also tends to slow down. The ripple effects of rapid changes in demographics will indeed be extensive. The negative impact is likely to be concentrated at a time when the working age population, the prime-age workforce, and the total population shrink simultaneously. Above all, it is necessary to use the government's fiscal space to block the possibility of a rapid fall in the growth rate. In addition, it is important to continuously implement various reform tasks that should be promoted, such as improving the education system and strengthening the social safety net.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.177-187
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• 2021

The purpose of the research to evaluate the efficiency and productivity growth rate of some Vietnamese commercial banks in the period 2008-2020. Using input and output selection theory, the author selected 2 models, estimating the efficiency for model 1 and estimating the yield change for both the models. We have built a model to estimate the efficiency and calculate as well as decompose the productivity growth of Vietnamese commercial banks during the period of active mergers and acquisitions activities in the banking system. Based on the results of the efficiency estimation, TFP shows during mergers and acquisitions, efficiency fluctuates but in an inverted U-shape (increasing from 2008-2011 but decreasing from 2013 to 2020). The estimated results of the impact assessment model show that FDI reduces the efficiency of banks. Productivity analysis shows that 6 out of 23 banks in the study period had positive TFP growth (tfpch > 1) due to technical progress and management efficiency. The findings of this study suggest that Vietnam's commercial banking system has many opportunities to improve operational efficiency in many aspects. In which, there are opportunities to increase credit, improve governance as well as improve the technology level of each bank. In addition, along with traditional products such as deposits and loans, diversification with a wide range of products and services is an important factor to enhance customer experience and demand in commercial banks.

• Journal of Korea Trade
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• v.25 no.8
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• pp.25-44
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• 2021

Purpose - This research aims to provide empirical evidence that highlights the importance of imported intermediate goods in long-term economic growth. To this end, this paper develops an index that measures the productivity gains associated with a country's intermediate goods imports using highly disaggregated trade data. Design/methodology - The basic hypothesis is that countries sourcing higher-productivity (or higher-quality) inputs from developed economies derive a larger benefit from foreign R&D. To explore this hypothesis, standard cross-country growth regressions are performed using the highly disaggregated data from the United Nations (UN) Commodity Trade Statistics Database (COMTRADE). To address the endogeneity issue, I apply an instrumental variable (IV) approach. Findings - The results of this study demonstrate that the index predicts subsequent economic growth in middle- and low-income countries. This finding is consistent with previous studies that have argued that developing countries can achieve substantial productivity gains by importing intermediate inputs from developed countries. By contrast, there is no evidence of a significant association between the index and economic growth in high-income countries. Originality/value - This paper contributes to our understanding of the causal relationship between international trade and economic growth. From an economic policy perspective, the results suggest that developing countries with limited technology endowment can boost growth from input-tariff liberalization.

• Journal of Korea Port Economic Association
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• v.24 no.4
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• pp.47-70
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• 2008

The purpose of this study is to estimate total factor productivity(TFP) growth by stochastic frontier function and to grasp contributing factors of its growth rate by decomposing the total factor productivity into efficiency change, technical progress, scale change, and allocation change. Annual growth rate of total factor productivity for 1990-2003 is 0.019 (1.9%), higher than that of overall industry (0.010). The main component of TFP growth is not efficiency change but technical progress. Contributing factors of total factor productivity growth are change of allocation efficiency in port industry, technical progress in sea-transportation industry, and change of scale efficiency in transportation-equipment industry. The change of total factor productivity shows a decreasing trend since late in the 1990s. The annual technical efficiency of port-logistics industry is less than that of overall industry. Capital elasticity for output (0.391) is higher than labor elasticity (0.227), but scale economy of port-logistics industry is 0.618, which is far from optimal scale economy.