Productivity and Performance of the Firms in Korea, Japan, and China

Seoul Journal of Economics, Spring 2008

Editor's Introduction to the Special Issue

The 15th Seoul Journal of Economics International Symposium, which was co-hosted with the Korea Economic Research Institute (KERI) and Brain Korea 21, Department of Economics, Seoul National University was held on October 23, 2007 with the theme of 'Productivity and Performance of the Firms in Korea, Japan, and China.'

Seoul Journal of Economics has hosted recent conferences on the issue of growth in East Asia from a few different perspectives. This year we have focused on the issue of productivity and performance of the firms In Korea, Japan, and China. The conference is focused narrowly in terms of economic agent to be considered and the area to be covered.

Korea, Japan, and China are unique to one another in terms of their history and culture. While they share many things together due to the geographic proximity, they also differ in terms of the economic development stage, technology, and economic institutions. This year's conference offers a good opportunity to consider these 3 countries together. By focusing on the performances of the firms In the 3 countries, we were able to understand their similarities and differences. A deeper understanding of the critical factors which generate the similarities and differences seems an important issue for policy makers and academic researchers. The Editorial Board at Seoul Journal of Economics has invited the following experts to the Symposium to present their views with the selected subjects:

Kyoji Fukao (Hitotsubashi University), Tomohiko Inui (Nihon University), Shigesaburo Kabe (Japan Center for Economic Research), and Deqiang Liu (Kyoto University) "An International Comparison of the TFP Levels of Japanese, South Korean, and Chinese Listed Firms"

Keiko Ito (Senshu University), Moosup Jung (Seoul National University), YoungGak Kim (Hitotsubashi University), and Tangjun Yuan (Hitotsubashi University) "A Comparative Analysis of Productivity Growth and Productivity Dispersion: Microeconomic Evidence Based on Listed Firms from Japan, Korea, and China"

Moosup Jung (Seoul National University), Keun Lee (Seoul National University), and Kyoji Fukao (Hitotsubashi University) Total Factor Productivity of the Korean Firms and Catching up with the Japanese Firms"

Xiaoxuan Liu (Chinese Academy of Social Sciences) and Shiyong Zhao (Chinese Academy of Social Sciences) The Change of Performance of Chinese Large-sized Private Enterprises and Its Determinants (2004-2006)"

Tsutomu Miyagawa (Gakushuin University) and YoungGak Kim (Hitotsubashi University) "Measuring Organization Capital in Japan: An Empirical Assessment Using Firm-Level Data"

Tomohiko Inui (Nihon University), Jungsoo Park (Sogang University), and Hyun-Han Shin (Yonsei University) "International Comparison of Japanese and Korean Banking Efficiency"

Young-Sam Kang (Seoul National University) and Keun Lee (Seoul National University) "Performance and Growth of Large Firms in China"

The Symposium was chaired by Hak K. Pyo (Seoul National University), In Kwon Lee (Korea Economic Research Institute), and Shin-Haing Kim (Seoul National University).

Following our guidelines, designated commentators have served as referees of each paper. The Editor requested all the contributors to revise their papers reflecting the designated commentators' remarks together with the comments and criticisms raised in the Symposium.

The Journal wishes to thank Dr. Jong-Seok Kim. (President of Korea Economic Research Institute) and Professor Younghoon Rhee (Chief of Brain Korea 21, Department of Economics, Seoul National University) for financial support for the Symposium.

In Ho Lee

Editor

Seoul Journal of Economics

Institute of Economic Research

Seoul National University