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Title: |
Labor Surplus in Korea: A Reassessment |
| Author: |
Osborne, Evan |
| Author
Affiliation: |
Wright State U |
| Source: |
International Economic Journal, Winter 2000, v. 14, no. 4, pp. 125-141 |
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Publication Date: |
Winter 2000 |
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Abstract: |
The paper estimates the Korean turning
point, as defined in the labor-surplus model of Lewis (1954) and Fei and
Ranis (1964), using a wide variety of data. The best estimate is
somewhere in the period 1964-68. In addition, unlike previous estimation
work several data series are shown to support the entire model in
addition to dating the turning point. Caution is urged in the use of
econometric estimations of production-function parameters as a way to
time the turning point. |
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