- Volume 15 Issue 4
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Balanced Growth among Regional Economies : Its Implications and Polices
지역균형발전의 의미와 정책
- Choi, Chang Kon (Department of economics, Chonbuk National University)
- 최창곤 (전북대학교 경제학부)
- Received : 2013.11.15
- Accepted : 2014.04.10
- Published : 2014.04.30
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.
Supported by : 전북대학교
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