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Seoul Journal of Economics
[ Article ]
Seoul Journal of Economics - Vol. 18, No. 1, pp.59-85
ISSN: 1225-0279 (Print)
Print publication date 28 Feb 2005
Received 16 Dec 2004 Revised 14 Feb 2005

Capital Stock Matrix for the Korean Economy: 1995-2000

Chang-Sik Shin
Input-Output Statistics Team, Economic Statistics Department, The Bank of Korea, 110, 3-ga, Namdaemunno, Jung-Gu, Seoul 100-794, Korea, Tel: +82-2-759-4407, Fax: +82-2-759-4419 shinmail@bok.or.kr

JEL Classification: O49, O53

Abstract

The purpose of this paper is to make a trial balance of the fixed capital stock matrix for the Korean Economy, examine the trend of capital stocks, and then make an analysis of the capital inducement effect of final demand using the capital stock matrix during the period 1995-2000.

The capital stock matrix of this paper, which is complied based on the concepts of the 1993 SNA, is the type of the 19 (assets)-by-28(industry) matrix based on asset use.

Using the capital stock matrix and the Input-Output table, I analyze the capital inducement of final demand by item. The results show that the capital inducement coefficient of final demand by exports was the highest at 2.45 in 2000, followed by the capital inducement coefficient per unit by consumption with 2.33, and the capital inducement coefficient per unit by investment with 1.75.

Looking at the trend of capital inducement coefficient of final demand, among the components of final demand, the capital inducement coefficient per unit by exports(3.48 in 1995→2.45 in 2000) slowed most rapidly for the same period. This indicates that in case that as the dependency of the economic growth by exports is getting higher, the capital requirement induced directly and indirectly can be relatively smaller than ever before.

Keywords:

Capital stock matrix, Input-Output table, Capital inducement coefficient

References

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