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NABO Briefing

Title Vol. 97 Status of Strategic Investments in Innovative Growth and Analysis of Their Economic Spillover Effects (English Edition)

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    459
  • Date
    2020-10-07
As part of new growth strategies to respond to the paradigm shift caused by the 4th Industrial Revolution, the government is pursuing policies to support innovative growth, including three strategic investment sectors, a focus on nurturing innovative talent and eight leading projects. After linking strategic investment projects for innovative growth to industry sectors on the input-output(IO) table and analyzing their economic spillover effects, five areas exhibited high added value and a high potential for job creation per fiscal input unit: nurturing innovative talent, smart factories, biohealth, the hydrogen economy, and the data & AI economy. While area-specific analysis of economic spillover effects such as production, added-value and job creation potential can be a critical source of reference when determining relative priority for government fiscal input, comprehensive consideration should also be given to area-specific global competitiveness, the division of roles between the public and private sectors, and the environmental impact (including contribution to climate change) as well as other circumstances in Korea and abroad.
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