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There is a widespread perception that the Republic of Korea's service sector lags behind its dynamic world-class manufacturing sector. We empirically analyze the past performance of the Republic of Korea's service sector in order to assess its prospects as an engine of growth. Our analysis...
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Which structural reforms affect labour productivity growth in developing countries? This paper answers this question by … that financial reforms, trade reforms, and product market reforms boost labour productivity growth. By documenting the main … channels, our results reveal that the reforms studied stimulate labour productivity growth by inducing dynamic efficiency …
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Proponents of minimum wage increases have argued that such hikes can serve as an engine of economic growth and assist low-skilled individuals during downturns in the business cycle. However, a review of the literature provides little empirical support for these claims. Minimum wage increases...
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of sectoral labor input and total factor productivity trend growth variation on the persistent decline in long-run output …-term decline. Zooming into the reunification period, we find a pronounced decline of total factor productivity growth in …
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