K. S. Kim and J. K. Park 1985, 61. Though labor's income share in Korea, at 60 percent, is larger than capital's share, this is lower than labor's share in Japan (about 76 percent) and in the United States (81 percent). In this respect Korea is typical of less economically advanced countries, which have relatively low labor shares.
More detailed and comprehensive discussion of labor-market data in the population censuses as well as in the more frequent EPB and MOL surveys can be found in Richardson and Kim 1986, 33-38.
This is an admittedly extreme assumption, for if productivity had remained constant, real incomes and aggregate demand would not have grown enough to support the 1980-90 output increase.
Temporary workers have employment contracts of less than one month, daily workers are employed on the basis of daily need and include all other workers who cannot be classified as regular employees ( Administration of Labor Affairs 1979, 476).
Note, however, that "implementation of the law was found to be difficult" and "some of the . . . programs which were established only for legal compliance reasons were superfi- cial" ( S. Kim 1982, 23).
Korea's secondary and tertiary enrollment ratios in 1990 were not much below the World Bank's weighted averages for OECD members in 1989 (95 and 43 percent, respec- tively).
Estimates of the size and significance of these relations in Korea, based on a recursive fertility model proposed by Davis and Blake, were obtained from the 1974 National Fertility Survey ( Repetto 1981, 161-71).
Because a 1979 mobility survey shows that fewer than 2 percent of respondents obtained jobs through formal employment agencies, "this clearly demonstrates the inade- quacy of Korea's formal employment services" ( S. Kim 1982, 10-11).
Wage differences by sex drop as education levels rise; thus, decline in the overall earnings ratios might result from increasing education rather than from any decline in male/female wage ratios. However, wage ratios for each education level also decline after 1980.
Value added and employment shares refer to manufacturing only, where concentration is likely to be greatest. Note that quantitative assessments of chaebol shares in Korea have sometimes exaggerated their significance. Amsden, for instance, found that in 1984 "the three largest chaebol alone accounted for a staggering 36% of national product in Korea" ( Amsden 1989, 116). This estimate is based on chaebol sales as a proportion of GNP, which overstates concentration. The denominator, GNP, measures value added or the net contribution of firms at each stage of the production process. The sales numerator, however, double counts value added at earlier stages of the production process when, for instance, a flour mill sells flour to a bakery, which in turn sells bread to local supermarkets.
See Lindauer 1984, 17-18. There is little correspondence between year-to-year changes in total compensation for government employees and for workers in the private components of the formal sector.
Docile union leadership was preferred by the government as well as by employers ( Choi 1989, Chapter 5).
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Publication Information: Book Title: Korean Economic Development: An Interpretive Model. Contributors: Paul W. Kuznets - author. Publisher: Praeger Publishers. Place of Publication: Westport, CT. Publication Year: 1994. Page Number: 74.
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