한국의 서비스화에 대한 연구: Baumol 가설을 중심으로

초록

Using a panel data of Korea for 1979~2002, this study investigates the determinants of the service sector employment share in Korea. In order to analyze the impact of macroeconomic factors on the service sector's employment share we estimate a simple panel model which is in line with Baumol's model. The panel GMM estimation results show that: 1) The increase in the share of service-related jobs in total employment tends to rise with GDP per capita, which confirms demand-bias hypothesis proposed by Clark. 2) We find that a crucial role in this process has been played by the productivity gap. As Baumol's hypothesis or Baumol's disease, the expansion of the employment share in services relative to industry is the direct consequence of services' lower productivity performances.

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