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Misallocation Between Manufacturing Plants in Korea

其他書名	Trends and International Comparison
出版	SSRN, 2016
URL	http://books.google.com.hk/books?id=E3f8zgEACAAJ&hl=&source=gbs_api

註釋Allocation efficiency in Korean manufacturing firms (0.65) has shown a downward trend from the 1990s to 2012. Furthermore, it is lower than that of the US (0.73), similar to Japans' and higher than China's (0.50). oThe downward trend in the time series data is comparable to that of Japan's manufacturing industry, but the pace is faster. If allocation efficiency does not decrease in Korea's case, the manufacturing TFP growth rate is estimated to climb 0.6%p on an annual basis.As the productivity gap between Korea's large and small firms is relatively higher than in other countries and is also widening, this paper recommends the following policy measures.oIt is desirable to concentrate more on a selective support for younger SMEs with consideration to their growth potential rather than on unilateral support to all SMEs.- According to this paper, there is a tendency that older firms overproduce, SMEs policies have to aim for supporting young and productive firms. o It is also necessary to correct anti-competitive practices such as large firms' abuse of market dominance.