DOI QR코드

DOI QR Code

Balanced Growth among Regional Economies : Its Implications and Polices

지역균형발전의 의미와 정책

  • Received : 2013.11.15
  • Accepted : 2014.04.10
  • Published : 2014.04.30

Abstract

This paper aims to understand the meaning of balanced development among regional economies and its importance in the s0-called knowledge-based economy. It is shown that the balanced allocation of human capital is necessary to achieve the efficient allocation of physical capital among regional economies, which makes the equality of marginal product of capital. And a simulation experiment is conducted to calculate the cost of unbalanced growth. It is shown that balanced growth among regional economies may increase the growth rate of whole national economy while unbalanced growth among them reduce it. The policy implication is that for an any economy to grow at a higher rate, the efficient allocation of physical and human capital both are necessary to have the balanced growth of regional economies in knowledge-based economy.

Acknowledgement

Supported by : 전북대학교

References

  1. Alcaly, R., The New Economy, FSG, New york. 2003
  2. Allen, Kevin, Balanced National Growth, Lexington Books, 1979
  3. Andersen, Birgitte, Howell, J., Hull, R. Miles, I. and Robert, J., Knowledge and Innovation in the new Service Economy,Edward Elgar, 2000
  4. Barro, R. and Sala-i-martin, X., "Convergence," Journal of Political Economy, 100, April 1992, 223-251. DOI: http://dx.doi.org/10.1086/261816 https://doi.org/10.1086/261816
  5. Barro, R. and Sala-i-martin, X., Economic Growth, 2nd ed. McGrawhill, 2003
  6. Boisot, Max, Knowledge Assets: Securing Competitive Advantage in the Information Economy, 1999, Oxford Univ. Press
  7. Brynjolfsson, E., and Kahin, B., Understanding the Digital Economy: Data, Tool, Research, MIT, 2000
  8. Choi, Chang kon, "Measuring the Capital Productivity of Regional Economies" Kyung-je-hak yon-gu (Korean Association of Economics ), Vol. 50, No. 1, P 41-64, 2002
  9. Choi, Chang kon, "Digital Economy and Balanced Development among Regional Economies", Research Paper, Ministry of Information and Communication, 2004.
  10. Johansso, B., Karlsson, Ch., and Stough, R. R.Theories of Endogenous Regional Growth, Springer, 2001. DOI: http://dx.doi.org/10.1007/978-3-642-59570-7 https://doi.org/10.1007/978-3-642-59570-7
  11. Kremer, M., "Population Growth and Technological Change: One Million B.C. to 1990," Quarterly Journal of Economics, 108, 3 (August) 681-716.
  12. Kuznets, S., "Population Change and Aggregate Output," in Demographic and Economic Change in Developed Countries, Princeton Univ. Press, 1960
  13. Liebowitz, S., Re-thingking the Network Economy, Amacom, 2002
  14. Lucas, R. E, Jr., "On the Mechanics of Economic Development," Journal of Monetary Economics, 22, 1 (July), 3-42.
  15. Matthews, R., Fordism, Flexibility, and Regional Productivity Growth, Garlan Publishing, 1996
  16. Mcknight, Lee and Bailey J., Internet Economics, The MIT Press, 1999
  17. Nelson, R., "A Theory of the Low-Level Equilibrium Trap in Underdeveloped Economies," American Economic Review, 1956.
  18. Romer,, P. M., "Increasing Returns and Long-Run Growth," Journal of Political Economy, 94, 5. 1986. DOI: http://dx.doi.org/10.1086/261420 https://doi.org/10.1086/261420
  19. Siebert, H. Regional Economic Growth: Theory and Policy, 1969, International Textbook Company.
  20. Simon, J., "Population Growth may be good for LDC's in the Long Run: A Richer Simulation Model," Economic Development and Cultural Change, Vol 24, 1975-1976. 1981.
  21. Solow, R., "A Contribution to the Theory of Economic Growth," Quarterly Journal of Economics, 70, 1956, 65-94. DOI: http://dx.doi.org/10.2307/1884513 https://doi.org/10.2307/1884513