투자촉진을 위한 지역산업입지정책 (Regional Industrial Location Policies to Stimulate Manufacturing Investment)

KDI Policy Study 2010-20, 1-58

68 Pages Posted: 9 Jun 2016

See all articles by Hyungtai Kim

Hyungtai Kim

Korea Development Institute (KDI)

Date Written: December 31, 2010

Abstract

Korean Abstract: 본 연구는 효과적인 지역산업입지정책 및 광역경제권 발전정책 수립에 기여하기 위한 목적으로 최근의 주요 대규모 교통인프라 투자 가운데 하나인 고속전철의 개통을 포함한 입지요인의 변화가 신규 제조업체, 특히 소위 ‘KTX 경제권’ 논의와 밀접한 연관이 있는 첨단산업의 공간적 분포에 미치는 영향을 토지이용패턴이 상이한 기존 거점도시 정차역과 신규 정차역으로 구분․분석하였다. 효과적인 분석을 위해 2004년 4월 개통된 고속전철 및 지가 등의 변화가 신규 제조업체의 입지에 미친 영향을 읍․면․동 수준의 상세한 공간적 단위에서 고정효과를 이용한 패널 음이항모형의 회귀분석을 통해 분석하였으며, 그 주요 결과를 요약하면 다음과 같다.

English Abstract: With an objective to provide policy implications to help establish effective regional development policies and the so-called ‘KTX (Korea Train Express) Economic Zone’ plans, this study intends to analyze the impacts of the changes in industry location factors, including the opening of the KTX. one of the recent largest infrastructure investment projects, on the spatial distribution of a high-tech industry which is closely related to discussions on the so called ‘KTX Economic Zone’. To this end, this study divides stations into existing stations in hub cities and new stations in order to reflect differences in land use patterns between the two different station types. This study selects the analysis period of a decade before and after the KTX was opened, and links the micro data of the mining & manufacturing industries and the explanatory variables such as average land prices in terms of time-series at the smaller spatial units of Eup, Myeon and Dong. Then, through applying a panel negative binomial model using fixed-effects, this study attempts to analyze the impacts of the changes of location factors including the opening of the high-speed railways on the location of new hi-tech manufacturing establishments. The main findings of the analysis are as follows.

First, it is found that the opening of the KTX tends to reduce the location preference of the high-tech industry near the existing stations located in hub cities. On the other hand, as for new stations, the opening of KTX itself does not appear to produce statistically meaningful changes on the location of the high-tech industry, whereas the improvement of overall road infrastructure appears to bring positive impacts on its location near the new stations. This implies that policies to reduce traffic congestion by improving the overall transport infrastructures nearby the KTX stations has a potential for a successful execution of the regional industrial location policy that aims to lead the development of regional economic zones by creating high-tech clusters near the KTX station. However, given that the pattern of the land uses near the station varies among regions, the regional industrial location policy should be differentiated in accordance with the conditions of the land use near the stations.

Second, the increase in the average land prices turns out to have highly statistically meaningful effects on the location of the new high-tech establishments regardless of differences in the type of stations. Specifically speaking, it is found that an increase of 10,000 won in the land price per square meter is expected to decrease the number of new hi-tech companies by about 0.23~0.30%. This indicates that the supply price of industrial land would be critical for stimulating investment of hi-tech industries.

Third, an increase in the number of employees in the manufacturing industry located in the region, which is used as a proxy variable to control agglomeration benefits, turns out to be a very positive factor for the location decision of a new establishment. This result is overall consistent with the findings from preceding studies. Furthermore, this study finds that clustering by each technology sector is a significant factor for the location decision of a new establishment. This implies that even when the large-scale investment is made on the transport infrastructure and the land is supplied at lower prices, the effects of location policies would be limited without the consideration of industrial clustering effects, particularly of the same technology sectors.

Note: Downloadable document is in Korean.

Suggested Citation

Kim, Hyungtai, 투자촉진을 위한 지역산업입지정책 (Regional Industrial Location Policies to Stimulate Manufacturing Investment) (December 31, 2010). KDI Policy Study 2010-20, 1-58, Available at SSRN: https://ssrn.com/abstract=2788395

Hyungtai Kim (Contact Author)

Korea Development Institute (KDI) ( email )

263 Namsejong-ro
Sejong-si 30149
Korea, Republic of (South Korea)

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
33
Abstract Views
281
PlumX Metrics