Abstract
The knowledge service industry provides the knowledge services essential to industry production and private consumption and will play an important role in the economic development. As the knowledge service industry grows more rapidly than the other industries, it significantly contributes to economic growth of each countries and the needs for the knowledge service will be boosted continuously. This paper attempts to apply input-output (I-O) analysis to investigate the role of the knowledge service industry in the 4 national economies, with specific application to Korea, US, Japan, and UK. A static I-O framework is employed, focusing on three topics in its application: the impact of knowledge service supply investment on the production of other sectors and the inter-industry linkage effect; the knowledge service supply shortage effect; and the impact of the rise in knowledge service industry on prices of other products. This paper pays particular attention to the knowledge service industry sector by taking the sector as exogenous and then investigating its economic impacts. Moreover, potential uses of the results are illustrated from the perspective of policy instruments and some policy implications are discussed.
| Translated title of the contribution | The role of the knowledge service industry in the four national economy |
|---|---|
| Original language | Korean |
| Pages (from-to) | 3189-3208 |
| Number of pages | 20 |
| Journal | 산업경제연구 |
| Volume | 22 |
| Issue number | 6 |
| State | Published - Dec 2009 |