Keywords: demand side, exponential smoothing, forecasting, supply side, technology policy, Korea, technological change, R&, amp, D investment, research and development
Balancing industry outlooks and technology policy as response
Technology policy has been blamed for its supply side orientation. In other words, there have always been possibilities that technology policy could be abused to justify new R&D investments in many countries. This does not mean that emphasising the demand side would always bring guaranteed success, which suggests that there should be a fine balance between demand and supply side issues in discussing 'correct' technology policy. With this backdrop, this research, utilising the Korean industry data, tried to perform forecasting of technology change for selected sectors to discuss implications for technology policy, preceded by a literature review on the merits and demerits of demand and supply side policies.