High-Technology Development in Regional Economic Growth: Policy Implications of Dynamic Externalities

1st Edition

Byung-Rok Choi

Published April 15, 2019
Reference - 120 Pages
ISBN 9781138725171 - CAT# Y326009
Series: Routledge Revivals


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This title was first published in 2003. Korea has had considerable success in developing its high technology industries and these have become significant employers in this region. By analysing the situation in Korea, this book explores the effects of dynamic externalities on the growth of regional employment in the high-technology industries. It puts forward innovative simultaneous equation models to test three sets of hypotheses related to so-called 'Jacobs', and 'MAR' effects, differentiated by firm size, organizational type and product. Clear evidence is found for endogenous technological progress marked by positive feedback, especially for small firms in diversified high-technology enclaves. There are technological externalities associated with knowledge spillovers, and local employment has indirect effects on employment growth via dynamic externalities. The implications for local economic development policy are outlined in a concluding section. -

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