Whereas previous researches on land policy after unification dealt with principally the problem of land confiscation under the communist reign, this research tried to propose a scheme of long-term land reform which was based on case studies on ex-socialist societies' experiences during their transformation, analysis on North Korea's institution related to land ownership and use. To reform North Korea's land ownership and use by the principle of market economy, North Korean should accumulate their commencing asset necessary for private ownership of land and housing. Therefore much focus should be put on the accumulation of the commencing asset at the early state of unification. On the extension of that line, the government of the Unified Korea should try to solve the problem of land confiscation by the communist party and land privatization in the region of North Korea. For the purpose, gradual land reform is more desirable than rapid one according to the case studies on ex-socialist societies. The government should avoid policies than can result in serious fiscal burden. Active participation of local government is highly recommendable in land tax and development. On the direction of land policy, this research proposed a four step long-term scheme of land reformation in North Korea. However, later researches should put more Korea. However, later researches should put more emphasis to the unification of land institution of North and South Korea which this research couldn't deal with sufficiently.

This paper examines the determinants of imbalanced regional development in Korea during the period of 1985-1995. The review of previous analytical techniques have been used to analyze the determinants of disparities in regional development of disparities in regional development, but few has applied the regression technique which reduces a bias due to heterogeneity across region. The results of the study show that Kmenta model with per capita GRDP as dependent variable can reduce the heterogeneity bias in regional development and can minimize the statical errors in estimation and interpretation of the coefficients of the explanatory variables. According to the results of Kmenta model, urban infrastructure such as roads, information and communication facilities are major causes of regional disparity over the period of 1985-1995. The results of the study also indicate that local government should devote their policy efforts to identify and utilize the unique soci-economic characteristics of each locality in the process of regional development.

This paper investigates how the factor inputs of firms are affected by the expectation about land-price increase in the future. We develope a two-factor (land and labor) model, in which expectation about land-price increase plays a key role in determining the "optimal" input level of labor and land. Expecting capital gains from input of the land when land price increases, firms input land up to the point where the marginal productivity of land falls short of the marginal cost of purchasing the land, in order to maximize the "joint-profit". That is, firms have an incentive to use more land than they do when capital gains are not expected. We mean joint-profit by profit in the standard sense plus capital gains. Once the land is input "excessively", the productivity of labor increase and labor is also input more, since land and labor are assumed as complementary in production. This mechanism works in the opposite direction when land price decrease. This paper suggests that land price fluctuation is a major destabilizer of an economy.or destabilizer of an economy.

Education is widely recognized one of main sources for growth. This paper attempts to incorporate the general recognition into formal regional growth model. The model structure is largely neoclassical. It produces a single good with the two factors, educated labor and non-educated labor, via a constant return production migrating to the region with the higher real wage. The educated labor in a region is accumulated by two sources, migration and physical education capital, while the non-educated labor is by only migration. The paper shows that regional growth equilibrium is characterized as a saddle point. This indicates the presence of the minimum threshold size that must be overcome before a region may grow. It contrasts sharply with results obtained in regional growth models. The paper suggests that regional growth is determined less by the technical characteristics of regional production function characteristics of regional production function but by the stock combination of educated function but by the stock combination of education labor and non-educated labor. Based on this result, the impact of agglomeration economies on regional growth is explored. It is by phase diagram demonstrated that the presence of agglomeration economies do not always lead a region to growth since there still exists the minimum threshold even in the presence of agglomeration economies.

This paper examines spatial of industrial restructuring in Korea during the period of 1983 to 1993. Changes in manufacturing location are analyzed using both descriptive and statistical methods. The results strongly suggest that industrial restructuring has brought about a new locational trend of decentralization toward formerly less industrialized regions away from traditional centers. With reduced disparities between core and peripheral regions, the new process of spatial restructuring provides an opportunity for more balanced territorial development in Korea.

Since the election of governors and mayors by vote, many local governments in Korea establish long-range plans for their regional development. The major purposes of the plans are to set up development path for their communities and to devise economic development strategies. But most of the plans established thus formulated by the same method utilized in centralized political regime. This method is considered no longer appropriate to devise the long-range development plans for local government especially in the era of globalization and localization, where local governments behave independently, where local governments behave independently competition. We suggest an alternative way to establish such plans, based on the method employed in business sector. The plans, formulated in this way, are called strategy oriented long-range development plans. The underlying logic for the plans is non-linear one. The plans are issue oriented and focus more on process than outcome. Given that these features are properly incorporated in the plans, we expect that the strategy oriented long-range development plans can be genuine guidelines for local economic development in the years to come.