The Purpose of this study is to estimate contribution of technical progress to the economic development in Korean manufacturing industry from year 1970 to 1985.
This study consists of the following three parts.
First, the basic concepts essential to this study are reviewed.
Second, the embodiment and disembodiment controversy is described and it is concluded that disembodied technical progress is in fact labor-embodied technical progress and embodied technical progress is capital-embodied technical progress.
Third, with the result of the above mentioned conclusion, the contribution of technical progress to economic development is estimated on an empirical basis.