Author : Won-Kyu Kim

<Abstract>

  This paper focuses upon estimating the long-run relationship among industrial total factor productivity(TFP), research and development(R&D) stock and TFP of other industries based on domestic intermediate input or demand structure, using the data of 30 industries and the period of 1998-2016. According to the estimation results, the TFP of other industries makes significant and positive effects on the TFP of individual industries through intermediate input or demand spillover channel. Meanwhile, based on the estimation results of manufacturing, service and other industries, when the TFP(R&D stock) of 30 industries increase by 1%(10%) respectively, the TFP growth of whole industry enlarges by 1.34%(1.08%) through intermediate supply and demand channel.