Economies of scale and production functions in South Korean manufacturing

These estimates shed light on the following questions. 1. Are there economies of scale in the production technologies of South Korea"s manufacturing industries? If so, what is the potential and actual importance of the economies of scale in explaining output growth in South Korea"s manufacturing industries? 2. What is the magnitude and extent of substitutability of factors in South Korea"s manufacturing industries? 3. What is the extent of interindustry variations of marginal products of factor? 4. Are the estimated production functions relevant for both small and large establishments? 5. Is the product process homothetic, i.e., are the output elasticities of inputs and the elasticity of substitution independent of the level of the factors of production?