지역경제별 투자생산성의 추정 : 지역균형발전과 효율성 = Measuring the Marginal Productivity of Capital of Regional Economies : Balanced Growth of Regional Economies and Efficiency

다국어 초록 (Multilingual Abstract)

This paper deals with the question of how to allocate the resource of capital efficiently among many regional sectors in the economy. The allocation efficiency would be achieved when the marginal productivity of capital is equalized across all regional sectors, the measurement of which is not easy without the stock data of capital of each region. This paper suggests a method which allows us to measure the marginal productivity of capital without capital stock data of each region. The estimation results using this method tell us that the marginal productivity of capital is quite different across regional economies. It means that the stock of capital has not been allocated efficiently across regional economies in Korea. This paper suggests several basic policies for efficient allocation of capital across regional economies.