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"Addresses new issues and challenges for economic growth arising from ongoing significant change in the world economy, focusing especially on technological transformation. Analyzes how technological change, shifts in investment, and demographic transition are affecting potential economic growth globally and across major groups of economies. The contributors explore possible scenarios for the global economy as the digital revolution drives rapid technological change, including impacts on growth, jobs, income distribution, trade balances, and capital flows. Technology is changing the global configuration of comparative advantage and globalization increasingly has a digital dimension. The implications of these developments for the future of sectors such as manufacturing and for international trade are assessed. Part II of the book addresses new issues in the growth agenda from the perspective of an individual major economy: South Korea. The chapters in this section analyze how macroeconomic developments and technological change are influencing the behavior of households and firms in terms of their decisions to consume, save, and invest. Rising income and wealth inequalities are a major concern globally. Against this backdrop, trends in the labor income share and wage inequalities in South Korea are analyzed in terms of the role played by technology, industrial concentration, shifts in labor demand and supply, and other factors. Throughout the book, the contributors, in their analysis of both global and Korea-specific trends and prospects, place emphasis on drawing implications for policy"--

Economic development. --- Technological innovations --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Economic aspects. --- Economic development --- Economic development - Korea (South) --- Technological innovations - Economic aspects --- Technological innovations - Economic aspects - Korea (South) --- Economic History --- Korea (South) - Economic conditions --- Korea (South) --- Economic conditions.

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Business and politics --- Economic development --- Korea (South) --- Economic policy --- Economic conditions --- Politics and government --- K9400.80 --- K9401.10 --- K9413.10 --- Development, Economic --- Economic growth --- Growth, Economic --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Business --- Politics and business --- Politics, Practical --- Political business cycles --- Korea: Economy and industry -- history -- modern period, postwar period (1945- ) --- Korea: Economy and industry -- policy, legislation, guidelines, codes of behavior --- Korea: Economy and industry -- relations -- state --- Political aspects --- Economic conditions. --- Economic policy. --- Politics and government. --- Business and politics - Korea (South) --- Economic development - Korea (South) --- Korea (South) - Economic policy --- Korea (South) - Economic conditions --- Korea (South) - Politics and government

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This 2015 Article IV Consultation highlights that Korea’s growth momentum that had been building since early 2013 has stalled. Average quarterly growth rate declined to about 0.5 percent in the last three quarters of 2014 from about 1 percent in the previous four quarters. A turning point was the April 2014 Sewol ferry accident, which had a surprisingly large and persistent impact on consumer and investor sentiment. Growth is projected to be in a range centered about 3 percent in 2015. The main external risks include slower-than-expected growth in Korea’s main trading partners, the impact of a persistently weak yen on Korean export industries, and side-effects from the global financial conditions.

Economic development -- Korea. --- Fiscal policy -- Korea. --- International Monetary Fund -- Korea. --- Korea -- Economic conditions. --- Monetary policy -- Korea. --- Structural adjustment (Economic policy) -- Korea. --- Business & Economics --- Economic History --- Accounting --- Exports and Imports --- Foreign Exchange --- Macroeconomics --- Statistics --- Real Estate --- Price Level --- Inflation --- Deflation --- International Lending and Debt Problems --- Data Collection and Data Estimation Methodology --- Computer Programs: Other --- Trade: General --- Public Administration --- Public Sector Accounting and Audits --- Housing Supply and Markets --- International economics --- Econometrics & economic statistics --- Financial reporting, financial statements --- Currency --- Foreign exchange --- Property & real estate --- External debt --- Government finance statistics --- Exports --- Financial statements --- Exchange rates --- International trade --- Economic and financial statistics --- Housing prices --- Prices --- Public financial management (PFM) --- Debts, External --- Price indexes --- Finance --- Finance, Public --- Housing --- Korea, Republic of