ABSTRACT

• 영문명: ABSTRACT
• 발행기관: 한국경제연구원
• 저자명: Dong-Ho Rhee
• 간행물 정보: 『한국경제연구원 기타 간행물』영국 산업사양화의 요인분석과 그 교훈, 298~304쪽, 전체 7쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 1998.06.01

영문 초록

United Kingdom has been the most forerunning industrialized country in the world since the first Industrial Revolution after James Watts had invented the steam engine in 1795. The country thus dominated the largest share of exporting goods market in the world for decades in the late 18th century. Since the interim years between two world wars, however, when the second Industrial Revolution began to take place, it started to delay relatively behind the competing countries such as the United States, West Germany and Japan in improving its competitiveness in the production industries. The proportion of employment in the production industries began to decrease from early 20 century, and this Phenomena was named as the De-industrialization later. There have been large numbers of surveys and research work not only from inside but also from outside of U.K. to find out the causes of this de-industrialization. Amongst them one of the most outstanding was Rowthorn and Wells(1997), which have clearly defined the concept of the do-industrialization as the declining employment in the production industries, and stipulated the theory of the de-industrialization in which he maintained 'the specialization thesis' as the most relevant. This study, thus accepting their theory of 'the specialization thesis' which persuasively articulated the possibility that the manufacturing share of the employment would have fallen even further if U.K's industrial performance had been more successful, and tried to explained the causes of the de-industrialization as they are closely related with unique characteristics of 'the English system' or 'Anglo-American System' of corporate governance in the industrial organization. This unique system had exercised strong influences on the U.K.'s system of industrial organization which made possible both extreme specialization of U.K. industries to manufacturing sectors and the earliest de-industrialization of U.K. economy among other industrialized countries. And furthermore, this study argued that the origin of the British system of corporative governance stemmed out of the Gentlemanly Capitalism by the Crafts' concept. This study attributed the reason of the earliest de-industrialization of U.K.'s economy among all other Industrial countries to its own unique system of the corporate governance. The de-industrialization of U.K. economy can never be said to be a disaster but a comfort, and this study claimed that, if Korea wants to maintain its economic growth in the next millennium, it should try to import the British system of corporate governance. Even though the system may accelerate the de-industrialization, it can contribute for the growth and development of the Korean economy by stimulating the service industries to lead the economy. In historical retrospects, we find that the de-industrialization triggered off only after that the maturation of the production industries had been attained. If we introduce U.K.'s system of corporate governance, it will accelerate the do-industrialization before reaching the matured stage of the production industry. However, it will help to trigger restructuring the economy and intensifying the productivity. The service industries is to lead the economic growth after the de-industrialization In every matured economy. Admitting that the system is not very good for rapid development of manufacturing industries, it is clear that the de-industrialization should be paralleled with the effort to develop the production industries as well as the primary industries, especially when the service industries did not show trade surplus within the sector. Manufacturing industries require longer-term insight, longer-term investment planning and ever-increasing efforts for product innovation. It is difficult for managements to maintain the consents of shareholders and to assure these risk-bearing supports from the owners and shareholders, because this longer-term bears more risks