Growth in the Service Sector and Its Policy Implication (Written in Korean)
Korean economy has experienced rapid expansion of the service sector at the expense of the manufacturing sector since 1988, which was caused by the wage increase and the appreciation of Won. The government worried about the deindustrialization and the erosion of the international competitiveness, an...
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| Format: | Article |
| Language: | English |
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Korea Development Institute
1992-10-01
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| Series: | KDI Journal of Economic Policy |
| Online Access: | https://doi.org/10.23895/kdijep.1992.14.3.73 |
| Summary: | Korean economy has experienced rapid expansion of the service sector at the expense of the manufacturing sector since 1988, which was caused by the wage increase and the appreciation of Won. The government worried about the deindustrialization and the erosion of the international competitiveness, and various measures were taken to enduce labor force into the manufacturing sector. However, this article argues that the expansion of the service sector is inevitable phenomenon in the process of economic development, and the balanced industrial policies are desirable. In addition, the Uruguay Round Service Negotiations require liberalization of the service market and internationalization of the service industries. |
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| ISSN: | 2586-2995 2586-4130 |