The Impact of Education and R&D Investment on Regional Economic Growth
AbstractThe purpose of this paper is to examine the impact of education and R&D investment on regional economic growth in South Korea. We develop a simultaneous model of production, human capital accumulation, migration, population and physical capital investment of two regions: the Seoul Metropolitan Area and the rest of Korea. We decompose the regional growth path into a quality path and a quantity path to identify how regional economies grow and run simulations to evaluate alternative policies in terms of effectiveness and adaptability. The impact of education and R&D investment on regional growth in the rest of Korea is only 22.3% of that in the Seoul Metropolitan Area due to lower elasticity values of young in-migrants with respect to the investment in the rest of Korea. An enhanced efficiency of regional human capital accumulation is effective and adaptable to alleviate regional economic disparity. View Full-Text
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Woo, Y.; Kim, E.; Lim, J. The Impact of Education and R&D Investment on Regional Economic Growth. Sustainability 2017, 9, 676.
Woo Y, Kim E, Lim J. The Impact of Education and R&D Investment on Regional Economic Growth. Sustainability. 2017; 9(5):676.Chicago/Turabian Style
Woo, Youngjin; Kim, Euijune; Lim, Jaewon. 2017. "The Impact of Education and R&D Investment on Regional Economic Growth." Sustainability 9, no. 5: 676.
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