An Empirical Analysis on the Contribution of Technical Progress and Technical Efficiency to Korea’s Economic Growth

Abstract

As a typical “technically innovative†country, Korea has always regarded science and technology and education as a major force to promote economic development, and technical innovation is an important guarantee for strong innovation capability in Korea. After adopting data envelopment analysis method to research Korean economic growth, technical innovation and technical progress, it is found that: in 1970-2015, Korea’s technical progress rate is higher than the degree of technical efficiency improvement, and total factor productivity improvement is mainly from technical progress.