미국의 제조업 경쟁력 강화정책과 정책시사점 (Strengthening U.S. Manufacturing Competitiveness and its Implications)

195 Pages Posted: 22 Jun 2015

See all articles by Bo Min Kim

Bo Min Kim

Korea Institute for International Economic Policy

minsoo han

Pennsylvania State University

Hee-Chae Ko

Korea Institute for International Economic Policy

Jonghyuk Kim

Korea Institute for International Economic Policy

Sung Hee Lee

Korea Institute for International Economic Policy

Date Written: December 30, 2014

Abstract

Koroean Abstract: 2008년 글로벌 금융위기 이후 미국 정부는 금융부문의 과도한 성장과 제조업의 경쟁력 약화현상이 경제시스템을 위태롭게 하고 양질의 일자리를 줄어들게 만든다는 사실을 깨닫게 되었다. 이에 오바마 정부는 고부가가치를 창출하는 첨단제조업을 육성하는 제조업 경쟁력 강화정책을 추진하기 시작하였다. 이러한 정책은 글로벌 생산네트워크뿐만 아니라 우리나라 제조업과 수출에도 영향을 미치게 될 것이다. 이 연구는 2009년부터 미국 정부가 추진하고 있는 제조업 경쟁력 강화정책을 분석하여 우리나라 산업정책에 주는 시사점을 도출할 목적으로 수행하였다.

미국은 1990년대까지만 해도 세계 제조업 생산의 30% 이상을 차지했으나 최근에는 그 비중이 18% 수준까지 하락했다. 또 미국 제조업의 GDP 대비 부가가치 비중도 1970년대 20% 중반을 유지하다가 2000년대 초반 15%대로 떨어지더니 지난 2009년에는 11.9%까지 내려갔다. 이에 미국 제조업이 약화된 원인과 오바마 정부 출범 이후 이러한 추세에 변화가 있는지를 알아보기 위해 미국 제조업 관련지표를 살펴보았다. 먼저 미국의 제조업 총요소생산성은 정보통신기술의 발전에 힘입어 1990년대 후반까지 크게 높아졌으나, IT버블 붕괴로 성장률이 지속적으로 하락하였다. 곧이어 2008년 글로벌 금융위기 이후 2년 연속 마이너스 성장을 기록하였다. 비록 오바마 정부 출범 이후에도 총요소생산성 향상은 지난 24년 평균(1.2%)의 절반(0.6%) 수준에 불과하였으나 총요소생산성 둔화추세가 멈췄다는 점은 주목할 만하다. 한편 무역특화지수는 오바마 정부가 취임한 2009년 전후로 철강, 화학, 일반기계, 과학ㆍ의료기기, 반도체 부문 등의 분야에서 하락했는데, 이는 오바마 정부의 제조업 육성정책이 일부 제조업의 국제경쟁력에는 아직까지 큰 영향을 미치지 못했기 때문이다. 또한 국제산업연관표 분석에 의하면 2000년대 초반 이후 글로벌 생산네트워크에서 미국 제조업이 차지하는 비중은 크게 축소하였으며, 부가가치분석 결과, 미국의 무역수지 적자의 대부분이 제조업에서 발생하고 있음을 확인할 수 있었다.

미국의 제조업 생산성 및 국제경쟁력 둔화에 글로벌 금융위기로 인한 실업률 상승이 가세하면서 오바마 정부가 수출확대와 일자리 창출을 위한 제조업 진흥정책을 적극 추진할 당위성을 부여하였다. 따라서 오바마 정부는 취임 초부터 첨단제조업의 혁신성, 수출 제고 및 타 부문보다 높은 경제ㆍ사회적 파급효과에 주목하게 되었다. 아울러 북미 지역의 셰일가스 생산 확대에 따른 에너지 비용 하락, 개도국의 임금상승 추세, 지식재산권의 중요성 증대, 국제운송비 상승 등도 미국 제조업의 재조명에 기여한 것으로 판단된다. English Abstract: Following the 2008 global financial crisis, the U.S. government acknowledged that the explosive growth of the financial sector and weakened competitiveness of manufacturing threatened the whole economic system and failed to contribute to creating quality jobs. In this context, the Obama administration introduced a number of policies to enhance manufacturing competitiveness with particular emphasis on high-tech and high value-added. The recent U.S. policies to strengthen the manufacturing sector will consequently influence Korea’s manufacturing and export performance as well as the global production network. Based on the analysis of the U.S. government’s efforts to revitalize manufacturing competitiveness since 2009, this report is intended to provide recommendations for relevant policies of Korea.

U.S. manufacturing, which accounted for over 30 percent of global manufacturing production in the 1990s, now contributes only 18 percent. Hence, the share of U.S. manufacturing value-added to domestic GDP fell sharply from mid-20 percent in the 1970s, then 15 percent in the early 2000s and to 11.9 percent recently in 2009. In order to examine the causes behind the recent trend of weakening U.S. manufacturing and whether this trend has changed since the Obama administration took office, relevant indicators such as TFP, TSI, input-output and value-added are reviewed. First of all, the Total Factor Productivity (TFP) of U.S. manufacturing recorded significant increases until the late 1990s, driven by remarkable development of information technology, but TFP began to grow at a slower rate after the IT bubble burst and recently reported a minus growth rate for 2 consecutive years since the 2008 financial crisis. Although the growth rate of the TFP between 2009 and 2012 still remained nearly half (0.6 percent) of the average rate for the last 24 years, or 1.2 percent, it is worth noting that the declining trend in the TFP growth rate came to an end after the Obama administration took office. In terms of Trade Specification Index (TSI), the fact that TSI in steel, chemical, general machine, scientific-medical equipments, semiconductor and so on fell both before and after 2009 indicates that Obama’s manufacturing policies has not yet made significant impact on international competitiveness of several manufacturing sub-sectors.

Meanwhile, analysis of the international input-output tables in this report confirms the shrinking share of U.S. manufacturing in global production network after the early 2000s, and a review of value-added shows that most of the U.S. trade deficits resulted from the manufacturing sector.

Increasing unemployment triggered by the global financial crisis as well as worsening productivity and global competitiveness of U.S. manufacturing encouraged the U.S. government to pursue policies for revitalizing the manufacturing sector to increase exports and creating jobs. Therefore, from its early tenure, the Obama administration has highlighted the importance of advanced manufacturing in terms of its potential for innovation, export enhancement and greater economic and social spill-over effects than other industries. Other factors such as decreasing energy costs led by rising production of shale gas in North America, sharply increasing labor cost in developing countries, increasing awareness of intellectual property rights and increasing international transportation costs also contributed to the government’s actions to reinvent manufacturing.

The Obama administration chose to pursue a more proactive and practical policies to achieve its goal of enhancing the U.S. manufacturing sector. In particular, support for advanced manufacturing and tax incentives for reshoring firms are at the core of recent U.S. manufacturing polices. The specific policy measures include promoting exporting of manufactured products, encouraging R&D and PPP in advanced manufacturing, training skilled labor and incentivizing firms to move production bases back to the U.S.. Especially, the government is aiming to establish the ‘National Network for Manufacturing Innovation (NNMI), an initiative to promote commercialization of cutting-edge high technology, process and product innovation; and consequently nurture the high value-added manufacturing sector. With joint participation and cooperation among government, industry and universities, the NNMI initiative is designed to build up to 40 manufacturing innovation institutes in the U.S. Meanwhile, the ultimate goals of policies to promote reshoring include not only reducing the U.S. firms’ operation costs but also reinforcing U.S. manufacturing competitiveness through innovation. There are an increasing number of U.S. companies moving their production facilities from overseas back to the U.S. in order to facilitate innovation in the production process and develop advanced technologies.

Note: Downloadable document is in Korean.

Keywords: Manufacturing industry, Manufacturing Competitiveness, United States

Suggested Citation

Kim, Bo Min and han, minsoo and Ko, Hee-Chae and Kim, Jonghyuk and Lee, Sung Hee, 미국의 제조업 경쟁력 강화정책과 정책시사점 (Strengthening U.S. Manufacturing Competitiveness and its Implications) (December 30, 2014). KIEP Research Paper No. Policy Analysis 14-21, Available at SSRN: https://ssrn.com/abstract=2621319 or http://dx.doi.org/10.2139/ssrn.2621319

Bo Min Kim (Contact Author)

Korea Institute for International Economic Policy ( email )

Seoul 137-602

Minsoo Han

Pennsylvania State University ( email )

University Park
State College, PA 16802
United States

Hee-Chae Ko

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Jonghyuk Kim

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Sung Hee Lee

Korea Institute for International Economic Policy ( email )

Seoul 137-602

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