외국인투자기업의 한국 내 입지 결정요인 분석 = Location Choices of Foreign-invested Firms in Korea

다국어 초록 (Multilingual Abstract)

This paper analyzes the location determinants of foreign investors in Korea over the period of 2007-2013. The analysis uses nested logit model and covers both manufacturing and service sectors. I find that the agglomeration of industry-specific foreign-invested firms in a local government has positive and statistically significant effects on the location choices in both sectors. A local government which has taken a step ahead of others in attracting foreign investments would enjoy self-reinforcing agglomeration effects. In contrast, the agglomeration of industry-specific domestic firms and other characteristics of local governments have different impacts between manufacturing and service sectors. Each sector would require bespoke investment promotion policies. The impact of the agglomeration of industry-specific domestic and foreign-invested firms in a local government spills over into other local governments. Such spatial correlation raises the need for cooperation between adjacent local governments in attracting foreign investments. Government-designated Foreign Investment Zones and Free Economic Zones do not have statistically significant impacts on the location choices. A local government would need to differentiate its investment promotion policies to win a race over the others for attracting foreign investments.

참고문헌 (Reference)

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