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Summary
Summary
Korea has had considerable success in developing its high-technology industries and these have become significant employers in this region. By analyzing 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.
Table of Contents
List of Tables | p. vii |
List of Figures | p. x |
Acknowledgements | p. xi |
1 Introduction | p. 1 |
2 Theoretical Background and Policy Issues | p. 3 |
Theories of High-technology Development | p. 3 |
Long-wave Theory and the Product Life-cycle Paradigm | p. 3 |
Neoclassical Growth Theory and Industrial Location Theory | p. 4 |
Cumulative Causation Theory and Dynamic Endogenous Growth Models | p. 6 |
Theories of Propulsive, Innovative, and Creative Regions | p. 9 |
Policy Issues: Impacts of High-tech Development on Regional Economic Growth | p. 9 |
High-tech Industry as a Regional Economic Development Tool | p. 10 |
The Role of Government in High-tech Economic Development | p. 10 |
3 Research Questions and Modeling Strategy | p. 13 |
Research Questions | p. 13 |
Conceptual Framework | p. 13 |
Operational Form | p. 15 |
Data Sources | p. 24 |
Models of the Effects of High-tech Development on Regional Employment Growth | p. 31 |
4 Empirical Findings | p. 33 |
Regional High-tech Employment Effects of Dynamic Externalities | p. 33 |
The Effects of Historical Conditions on High-tech Employment Growth: Cross-sectional Analysis | p. 33 |
The Determinants of the Degree of Dynamic Externalities: Cross-sectional Analysis | p. 35 |
The Effects of Historical Conditions on High-tech Employment Growth: Time-series Analysis | p. 37 |
The Determinants of the Degree of Dynamic Externalities: Time-series Analysis | p. 40 |
The Differences in Regional High-tech Employment Effects of Dynamic Externalities by Firm Size | p. 42 |
The Effects of Historical Conditions on High-tech Employment Growth: Cross-sectional Analysis | p. 44 |
The Determinants of the Degree of Dynamic Externalities: Cross-sectional Analysis | p. 46 |
The Effects of Historical Conditions on High-tech Employment Growth: Time-series Analysis | p. 48 |
The Determinants of the Degree of Dynamic Externalities: Time-series Analysis | p. 49 |
The Differences in Regional High-tech Employment Effects of Dynamic Externalities by Organizational Type | p. 54 |
The Effects of Historical Conditions on High-tech Employment Growth: Cross-sectional Analysis | p. 55 |
The Determinants of the Degree of Dynamic Externalities: Cross-sectional Analysis | p. 56 |
The Effects of Historical Conditions on High-tech Employment Growth: Time-series Analysis | p. 57 |
The Determinants of the Degree of Dynamic Externalities: Time-series Analysis | p. 61 |
The Differences in Regional High-tech Employment Effects of Dynamic Externalities by Product | p. 64 |
The Effects of Historical Conditions on High-tech Employment Growth: Cross-sectional Analysis | p. 65 |
The Determinants of the Degree of Dynamic Externalities: Cross-sectional Analysis | p. 66 |
The Effects of Dynamic Externalities on High-tech Employment Growth: Time-series Analysis | p. 75 |
The Determinants of the Degree of Dynamic Externalities: Time-series Analysis | p. 80 |
The Effects of Local Competition on Regional High-tech Employment Growth | p. 86 |
Direct Effects of Local Competition on Regional High-tech Employment Growth | p. 86 |
Indirect Effects of Local Competition on Regional High-tech Employment Growth via Dynamic Externalities | p. 88 |
The Effects of High-tech Employment on Regional Economic Growth | p. 88 |
The Growth Patterns of Texan High-tech Industry | p. 90 |
Impact of Initial High-tech Employment on Regional Growth of Employed Civilian Labor Force | p. 92 |
Differences in the Effects of Initial High-tech Employment on Regional Growth of Employed Civilian Labor Force by Organizational Type | p. 95 |
5 Summary and Policy Implications | p. 101 |
Appendices | p. 105 |
Appendix A The Estimation Model of the Regional High-tech Employment Effects of Dynamic Externalities | p. 107 |
Appendix B The List of Municipalities with High-tech Firms as of 1995 and Relevant Metropolitan Areas and Non-metropolitan Counties | p. 108 |
Appendix C Hausman Specification Test Procedure | p. 116 |
Bibliography | p. 117 |