The Cross-Sectional, Inter-Industry Structure of Capital Utilization in a Developing Economy: The Case of S. Korean Manufacturing
基于Kim-Winston最优资本利用率模型，利用韩国制造业截面数据，检验该模型在跨行业资本利用率结构中的推论。
T HE literature on capital utilization has experienced a remarkable growth of late.' In particular, implications of a model of optimal capital utilization put forth by Kim and Winston (1974) have been shown to be consistent with empirical findings (1) on inter-country, crosssectional, sectoral rates of capital utilization (Kim (1969), Mason and Sakong (1971), and Winston (1971b)) and (2) on intra-country, timetrend rates of capital utilization (Kim and Kwon (1977)). As a sequel to such recent developments, this paper proposes to show an implication of the Kim-Winston model in the context of an intra-country, cross-sectional, inter-industry structure of capital utilization and, then, to test this implication against cross-sectional data from S. Korean manufacturing industries.