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South Korea in the Fast LaneEconomic Development and Capital Formation$
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Young-Iob Chung

Print publication date: 2007

Print ISBN-13: 9780195325454

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780195325454.001.0001

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Aggregate and Sectoral Investment

Aggregate and Sectoral Investment

(p.43) 3 Aggregate and Sectoral Investment
South Korea in the Fast Lane

Young‐Iob Chung (Contributor Webpage)

Oxford University Press

This chapter investigates aggregate and sectoral investments in both the public and private sectors, estimating their magnitudes, discerning their patterns and nature, and assessing the role of the government. The nature of aggregate investment is evaluated in terms of the extent and type of investment in construction, equipment, machinery, and replacement/new capital goods, while sectoral investment is examined relative to social overhead capital in the public, business, and household sectors, including manufacturing and housing. The nature of business investment is evaluated relative to capital and technology intensity, scale, and overseas investment. In addition to investment in physical capital, investment in human capital and its contribution to economic development are also scrutinized.

Keywords:   business investment, capital-intensity, technology-intensity, construction, human capital, public investment, scale of investment, social overhead capital

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