Estimating research productivity using endogenous growth theory: focusing on Korean nuclear industries

Abstract

The discovery of new ideas through research and development is an essential element for sustainable growth in the endogenous growth theory. Previous studies estimated the research productivity of various industries to derive appropriate policy implications. Nevertheless, studies estimating the research productivity of the Korean nuclear sector are scarce. Therefore, this study summarizes the latest status of the Korean nuclear sector and estimates its research productivity. After analyzing time series data of related variables from 1995 to 2018, the results suggest that the Korean nuclear sector’s economic/technological growth rate was relatively stable but had been falling sharply since 2016. Furthermore, research productivity has steadily declined in the long-run. Finally, a policy implication is proposed to offset declining research productivity.