Three essays on economic sources of spatial development

국문 초록 (Abstract)

본 논문은 지역경제성장에 관한 세 가지 에세이를 제시하였다. 2장은 두 지역모형을 통해 두 지역간 인구와 노동의 이동이 지역 경제에 미치는 영향을 분석하였다. 특히 거주지와 직장이 일치될 때 효용이 증가되는 것으로 나타났다. 궁극적으로 세종시에서 수도권 지역으로의 통근 없이, 이주를 통해 세종시에 조기 정착하기 위해서는 보조금이나 인센티브 정책이 적극적으로 필요하였다. 시뮬레이션 결과에서는 물류비나 통행비의 증가가 수도권과 충청 지역간 인구분산을 촉진시키는 것으로 나타났다. 또한, 충청 지역의 생산은 증가하나 사회후생은 감소하였다. 결과적으로 물류비나 통행비의 감소는 수도권 지역으로의 인구 집중을 초래하였다. 궁극적으로 수도권에서 충청권으로의 인구분산을 위해서는 물류비나 통행비의 증가보다도 보조금 또는 감세정책을 보다 적극적으로 수립할 필요가 있을 것이다.
3장은 저성장 지역의 성장패턴과 성장요인을 불균형 성장모형을 통해 분석하였다. 저성장 지역은 우리나라의 강원, 호남 지역에 집중되어 있었으며, 외환위기 이후 저성장 패턴이 고착화되었다. 특히 저성장 지역은 경기회복기에 국내 평균 성장률보다 낮은 성장률을 보였다. 주변지역의 경제성장 효과와 관련하여 주변에 고성장 지역이 분포할 때 저성장 지역은 보다 더 성장하는 것으로 나타났다. 저성장 지역의 성장을 위해서는 자본축적, 제조업 기반 강화, 지방정부의 감세 또는 재정확대 정책 등이 필요한 것으로 나타났다. 또한, 국내에서 추진되고 있는 행정구역 통합과 관련하여 저성장 지역의 성장을 견인하기 위해서는 주변지역 도시 간의 통합이 중요한 고려사항으로 대두되었다.
4장은 지방 정부의 금융지원과 재정정책의 효과를 고려하여 금융 수단별로 기업 성장에 미치는 영향을 분석하였다. 이를 위해 기업 통계 자료와 지방 정부의 거시 지표를 사용하여 다중 통계 모형을 적용하였다. 분석 결과, 비수도권 지역의 기업들은 채권발행이나 유상증자와 같은 직접금융 시장에서의 자금조달에 제약이 있었다. 또한, 지방 정부의 금융지원에 있어서도 수도권 지역의 기업들보다 불리한 환경에 처해 있었다. 하지만, 지방 정부의 금융지원과 재정정책의 효과는 비수도권 지역의 기업성장에 보다 긍정적으로 작용하였다. 궁극적으로 지방 정부의 금융지원과 재정정책은 기업 성장의 지역별 격차를 초래하지만, 현행 간접금융 시장에서의 지방 정부의 신용보증과 같은 금융지원 수단은 채권매입 또는 유상증자 참여 등과 같은 직접금융 수단으로까지 확대될 필요가 있었으며, 비수도권 지역의 경우 보다 적극적인 재정정책이 필요하였다.

다국어 초록 (Multilingual Abstract)

This study focused on the regional development and consisted of three essays. The first thesis analyzed the effect of labor or population mobility between the two regions on regional economies employing a simple two-region model. As a result of comparative analysis, for the success of Sejong City, the residential and work sites need to be reconciled without having to commute to the SMA region. Finally, the key issue is the policy of migration to Sejong City for a short period of time, which needs to involve subsidies or incentives. Consequently, economic activities should be relocated in the target region. Numerical simulation showed that high transportation and commuting costs induce labor and population dispersion to the Choungchong region, including Sejong City, and positively affect the output growth. However, social welfare also decreases. Therefore, subsidies and tax policies are needed to achieve labor and population dispersion in the Choungchong region, including Sejong City, without a decrease in welfare.
The second paper is to analyze economic growth patterns of high and low income regions during economic recession and recovery periods using asymmetric income growth model with neighboring effects. This paper also attempts to identify economic causes for the stagnant underdevelopment of the less developed region. The quantitative results found that there have been the less developed regions which recorded a low average regional income levels from 1998 to 2009 and even lower regional income growth rates in 2009 against 1998 compared with the national average, moreover grew less during the recovery periods compared with the developed regions. This structural factor caused the low income growth among less developed regions. In addition, the neighboring developed regions pulled most of the regional income growth of the less developed regions. Finally, capital enlargement, reinforcement of the manufacturing basis, and a more active role in of regional government, including the optimal regional tax burden, were needed to facilitate regional income growth in the less developed regions. These results imply that urban integration would be needed not between the developed regions and the adjacent developed regions but between less developed regions and its neighboring developed regions. Moreover, the empirical results of concentration in manufacturing sector suggest that the relocation of manufacturing facilities among regions may be required.
The third study analyzed the factors of output growth of firms in financial sectors considering the role of local government in regional government policies. This study employed multi-level statistical models using firm-level data. Firms in ROK are inferior in financing through the direct financial market (market-based financial system). Moreover, firms in ROK regions are inferior in the financial credit assistance of local governments to firms in SMA, which can cause them financial constraints. The relationship between the market-based system and the bank-based system must be mutually complementary even though the direct financing market more significantly affects the output growth of firms. Also, financial tools and fiscal policies as local government policies positively and differently activate the output growth of firms per region at the macro level. This result continues to promote the regional deviation of output growth of firms. Finally, the local government should establish a vigorous fiscal policy on economic activities and financing assistance for firms. The local government credit guarantee program must also be revised more efficiently to contribute to the financing and the output growth of firms. Also, financial tools and fiscal policies should be more diversified in ROK regions. Lastly, the regional financial policy of the local government must be revised in the direction more suitable to the output growth of firms through the participation in the direct financial system such as bond issues and paid-in-capital increase.

목차 (Table of Contents)

• Chapter I Introduction
• 1.1 Background and Purpose
• 1.2 Organization
• Chapter II Migration and Regional Economic Growth Using a Simple Two-Region Model
• 2.1 Introduction
• 2.2 Migration, Transportation, and Mobility Costs
• 2.3 Agglomeration in New Economic Geography
• 2.4 Model
• 2.5 Comparative Analysis
• 2.6 Numerical Simulation
• 2.7 Conclusion
• Chapter III Asymmetric Patterns of Regional Income Growth and Decline
• 3.1 Introduction
• 3.2 Sources of Regional Economic Growth
• 3.3 Analysis
• 3.4 Conclusion and Policy Implications
• Chapter IV Contribution of Financial Incentives of Local Governments to the Output Growth of Firms
• 4.1 Introduction
• 4.2 Financial Sectors and Regional Economic Growth
• 4.3 Analysis
• 4.4 Conclusion and Policy Implications
• Chapter V Conclusion
• 5.1 Summary
• 5.2 Further Research
• Appendix
• Reference

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