정책세미나 An Analysis of Structural Dependence Between the Republic of Korea and Japan : Toward a More Optimal Division of Labor 1980.09.01
The trade between ROK and Japan is characterized by its
vertical relationship lacking in complementary interdependence.
ROK`s imports of producers goods from Japan are much greater
than her exports of consumer goods to Japan. Consequently,
ROK is unilaterally dependent in Japan, as evidenced by her
large and growing balance of trade deficit. This vertical
relationship with one-sided dependence has been fostered by the
trade between the contrasting industrial structures of the two
countries and the other centered around a number of industries
geared to export processed goods of high import contents.
The vertical relationship between the two economic has been
examined in detail by analyzing the linked input-output tables. It
has been found therefrom that the induced production coefficients
of expanded outputs in Korean industries relative to the
Japanese economy are much larger than the other way around,
especially in producers goods subsectors. This is due to the
larger leakage to Japan of induced production effects generated
in Korean industries. In contrast to Japan`s self-sufficient
full-range industrial structure which is capable of absorbing
most of the induced production effects generated in her
industries, the industrialization in ROK is yet non-self-sufficient
and incapable of benefiting wholly from the induced effects
fostered in her own industries. Even though ROK`s increased
exports to U.S.A. reduce Japan`s market share, it should not be
overlooked that they directly contribute to the expansion of
output in the Japanese economy by way of leakage of their
induced production effects.
The Republic of Korea is, however, promoting heavy and
chemical industries under the current Fourth Five-Year
Development Plan and thereby aims to effect import substitution
of intermediate goods and eventually to export some of them.
This will duly serve to change the existing vertical trade
relationship to one of more horizontal and interdependent
specialization. Japan`s horizontal specialization coefficients are
expectedly high in relation to developed countries but low
vis-a0vis developing countries. However, horizontalization has
been gaining speed in recent years relative to developing
regions, most notably Asian ADCs. the progress of horizontal
specialization vis-a-vis Asian ADCs is now markedly rapid in
such subsectors as machinery, metals and chemicals, but losing
momentum in labor-intensive subsectors. Increased horizontal
division of labor with asian ADCs centering on heavy and
chemical industries is expected to play role in expanding Japan`s
sphere of horizontal interdependence.
Ⅰ. Basic Structure of Industrial Specialization Between Korea
Ⅱ. Contrast in Industrial Structure Between Korea and Japan
Ⅲ. Industrial Interdependence Between ROK and Japan
Ⅳ. Horizontal Division of Between ROK and Japan
Ⅴ. Summary and Conclusion
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