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KMID : 0861120040080010163
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Korean Journal of Oriental Preventive Medicine
2004 Volume.8 No. 1 p.163 ~ p.186
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Input-Output Structure and Economic Effects of Oriental Medicine Industry in Korea
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Kim Jin-Hyun
Lim Byung-Mook
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Abstract
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The purpose of this parer is to identify the input-output structure of oriental medicine and its alternative medicine industries in an inter-industry context and to estimate its forward and backward effects on macroeconomic variables such as production, employment and price level. Input-output tables released by The Bank of Korea were used as data in this research and inter-industry analysis was adopted as research methodology. The industry takes less share of production, price and trade in a Korean economy, compared with other industry. However, the industry’s capability of creating value added is estimated to be well above that of other industry and that of making new employments is as more than 4 times as other industries. This result gives us policy implications that the government should enhance its subsidy policy and economic (tax) incentives for oriental medicine and its related alternative medicine industries.
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KEYWORD
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Input-Output Structure, Economic Effect, Oriental Medicine Industry, Korea
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