This study examines the relations among wage differentials, trade, and productivity in Korea, using the methodology of Granger causality and vector error correction modelling. Cointegration test results over the 1975-2004 period indicate that all the test variables are cointegrated. Therefore, wage differentials, trade, and productivity are all related in the long run. We found some evidence on long-run relationship, while there is no short-run relationship between three test variables. First, trade and wage differentials have positively and bi-directionally Granger causality in the long-run. Second, productivity Granger causes negatively wage differentials in the long-run. Finally, productivity Granger causes positively trade in the long-run. These results explain partially the current theoretical predictions for wage inequality as well as supports the productivity-led growth hypothesis in the Korean economy.
Ⅰ. 서론
Ⅱ. 선행연구 검토 및 자료설명
Ⅲ. 분석기법
Ⅳ. 인과관계 검정결과
Ⅴ. 요약 및 결언
참고문헌
Abstract