서비스업의 수요함수추정을 통한 서비스화 진전에 대한 연구: 수요편향가설에 대한 검토

초록

Using Korean panel data for 1970-2004, this study investigates the conventional wisdom regarding service-related stylized facts. The Panel GMM estimation results are as follows. First, the real share of services in aggregate declines in association with increase in GDP per capita. However, the result for producer services confirms that the real share in GDP tended to rise with GDP per capita. Second, income elasticity of demand for services is shown close to unity while the demand for producer services and personal services are income elastic. Third, a falling real share of service activities in GDP is consistent with income elasticity close to unity and an inelastic price response. Finally, demographic changes such as population size, population dependency and participation rate of female workers have shown to exhibit significant impacts on service demands. Population size shows a negative effect on the demand for producer services while it positively influences the demand for distributive services.

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