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KIM Sangho
Department Ritsumeikan Asia Pacific University College of Asia Pacific Studies Position Professor |
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| Language | English |
| Publication Date | 1999/07 |
| Type | Research paper (Academic/Professional Journal) |
| Peer Review | Peer reviewed |
| Title | Finance, Production Efficiency, and Growth: Evidence from the Korean Manufacturing Industries |
| Contribution Type | Corresponding |
| Journal | Seould Journal of Economics |
| Volume, Issue, Page | 12(2),pp.127-141 |
| Author and coauthor | J. Koo |
| Details | Numerous studies focus on the development of financial market as a driving force in economic growth. We find that the provision of sufficient financial services enhances the production efficiency, and thereby promoting economic growth. Applying a stochastic frontier production function approach to the panel data from Korean regional manufacturing industry, we show that an increase in financial services is associated with the reduction in technical inefficiency. It suggests that the mature financial market works as a lubricant in production and that the supply of financial services is essential to economic growth.. |