| 000 | 01669nam a2200229 4500 | ||
|---|---|---|---|
| 999 |
_c51115 _d51115 |
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| 003 | OSt | ||
| 005 | 20190401143123.0 | ||
| 008 | 190401b ||||| |||| 00| 0 eng d | ||
| 100 |
_aTrofimov, Ivan D _933429 |
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| 245 | _aIndustry Rates of Return in Korea and Alternative Theories of Competition: Equalizing Convergence Versus Tendential Equalization. | ||
| 300 | _a7-50 p. | ||
| 520 | _aThis paper considers convergence and equalization in industry profit rates in the Republic of Korea during the period 1970-2015, from the perspective of alternative paradigms of competition--classical and neoclassical. Two measures of profitability--average rate of profit based on the total capital stock in the economy, and Incremental Rate of Profit (IROP) based on the concept of regulating capital--are estimated. It is shown that little convergence in industry rates of profit occurs when the former measure is used, while almost complete equalization of IROP is achieved. The classical-type equalization takes place in particular capital accumulation and competitive settings in Korea, characterized by the prominent role of diversified conglomerate firms, the capital flows within conglomerates, investment coordination by the state, and the fast pace of capital accumulation and renewal. | ||
| 653 | _aEconomic competition | ||
| 653 | _aEconomic convergence | ||
| 653 | _aProfitability | ||
| 653 | _aProfitability | ||
| 653 | _aCapital movements | ||
| 653 | _aCapital movements | ||
| 653 | _aKorea -- Economic conditions -- 1945- | ||
| 773 | 0 |
_030428 _974155 _aMURTHY, E N _dIUP PUBLICATION HYDERABAD _o55510048 _tAPPLIED ECONOMICS |
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| 942 |
_2ddc _cJA-ARTICLE |
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