@article{Nam:330824,
      recid = {330824},
      author = {Nam, Kyungsoo},
      title = {The Domestic Wood Industry’s Contribution to the National  Economy and Its Growth Factors},
      journal = {Journal of Rural Development/Nongchon-Gyeongje},
      address = {2021-09-30},
      number = {1071-2023-494},
      month = {Sep},
      year = {2021},
      abstract = {For the sustainable development of the wood industry, this  study examines the impact of the wood industry on the  national economy. It identifies factors that promote the  growth of the sector. The wood industry consists of 17  wood-related industries from the classification of the  input-output table. The result shows that the contribution  of the wood industry to the national economy is estimated  to be 32,253.6 billion won and 2,486.5 billion won based on  the amount of output and value-added, respectively, as of  2018. In other words, even though the self-sufficiency rate  of raw materials is less than 20%, the wood industry has a  tremendous impact on the national economy. Moreover, the  decomposition of the growth rate shows that the main factor  in the growth of the wood industry is the effect of  expanding final domestic demand. The factors that hindered  the growth are the effect of substituting intermediate  goods imports and the impact of technological change. The  result implies that the expansion of the final demand of  the domestic wood industry has a positive effect on the  shift in domestic output. On the other hand, the dependence  on raw material imports and the stagnation of technological  development harm the growth of the wood industry.},
      url = {http://ageconsearch.umn.edu/record/330824},
      doi = {https://doi.org/10.22004/ag.econ.330824},
}