An Analysis of Income Sensitivity to Social Technology: A Comparison among Country Groups Using Panel Data

In: Asian International Studies Review
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Using available panel clam on 68 countries covering the years 1998-2006, we measure the sensitivity of per capita re-al GDP co change in each of the live social technologies by six country groups: OECD. Asia NlEs, developing countries, BRCs, less-developed countries, and Korea. The regression results suggest that each of the live social technologies in this paper (i.e., anti-corruption, deregulation, property rights, government size, and law) is positively related co per capita real GDP. The regression results also suggest that per capita real GOP is more elastic with respect to each of the five social technologies than IT as a proxy for physical technology in the group of relatively rich countries. It is evident that per capita real CDP is elastic with respect to social technologies in Korea. This implies that co speed up Korea's advancement, improving social technology may be crucial.

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