A social accounting matrix (SAM) is an economy-wide consistent representation of the payments in an economy, linking production, primary factors, and institutions (the latter often split into households, government, and the rest of the world). In the words of Round (2003), “it is a comprehensive, flexible, and dis-aggregated framework which elaborates and articulates the generation of income by activities of production and the distribution and redistribution of income between social and institutional groups.” Most of the time, a SAM refers to the economy of a country for one year. It may be used to describe the structure of an economy and as a data input to economic models, most importantly CGE models. This paper documents a gendered Social Accounting Matrix (SAM) for South Korea for 2014: the steps followed in its construction, the data sources, and what the SAM says about the economic structure of this country (for brevity from now on referred to as Korea), including gender, time use, and the role of households in providing care and other services provided by households. The SAM that is presented is the key data input to a forthcoming analysis of gender and care in Korea’s economy based on GEM Care, a computable general equilibrium (CGE) model.
At an aggregate level, the value-added in the GDP economy is roughly 86 percent of the total (with agriculture, industry, services accounting for 2, 33, and 51 percent, respectively) and the non-GDP economy 14 percent. This information may be contrasted with aggregate time shares in terms of which, the non-GDP economy accounts for a much larger share, 40 percent. If leisure also were included, then it would on its own account for 50 percent of total time, 53 percent for men and 47 percent for women. The share of time allocated to household activities are drastically different for men and women, 15 and 57 percent, respectively. For women, non-care household services comprise the largest time using activity by a wide margin, followed by household childcare, trade services, and hotel and restaurant services. For men, manufacturing dominates, followed by trade services, household non-care services, and construction. For agriculture and industry, the lesser educated dominate all activities except electricity for both men and women. For services, the differences across sectors are drastic with some dominated by those with high education and others by those with low. These are few of the many descriptive findings from the gendered SAM developed by the authors.
This paper will be available December 2019.