• The Journal of the Korea Contents Association
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• v.17 no.6
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• pp.55-62
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• 2017

The purpose of this study is to investigate the transitory and permanent growth effects of human capital of the Korean economy based on the analysis of the New Normal Era during the period 1970-2014. For the transitory effects, we found out that all the coefficients of capital and labor are significant above the 5% level, whereas the coefficients of labor and human capital are significant only at the 10% level during the period 1999~2014. In particular, in the case of 1% increase in the human capital, the actual growth rate raised up with the rate of 0.15% over a 45-year period. For the permanent growth effects, the coefficients of capital and labor are significant above the 5% level. Furthermore, sum of the coefficients of the capital and labor showed approximately 0.96~0.99, approaching to a unit, which implies that there is a constant returns scale with respect to these inputs. In particular, the coefficient of human capital at 0.064 is significant at the 10% level. This implies that the permanent growth effect of an additional index of human capital is about 0.64% the previous 45-year period.

• Journal of the Economic Geographical Society of Korea
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• v.12 no.4
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• pp.627-644
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• 2009

In the knowledge-based economy highlighting the importance of human capital, there has been a growing interest in human capital externalities as a fundamental engine of growth and development of a region. The purpose of this study is to analyze human capital externalities using 3-level hierarchical linear model(3-HLM), decomposing determinants of wages into three levels involving workers(level-1) nested within firms(level-2) nested within regions(level-3). This study separately estimates the effect of the average education level on the wages by three different schooling groups on the assumption that the intensity of knowledge spillovers varies with each group's schooling level. The main results are as follows; First, the coefficient of the average education level of a region shows 0.044, indicating that one-year increase in the average level of schooling could increase average individual earnings by 4.4%. Secondly, the external effects of human capital on three different schooling groups are considerably different, raising less than high school graduates' wages by 3.0%, college graduates' wages by 4.7%, and graduate schools' wages by 11.8%, respectively. Thirdly, well educated workers are much more sensitive to the variation of the regional education level than less educated ones when we apply the shares of each schooling group as alternative measures for the average level of education. Such findings of this study draw an implication that local governments could speed up regional economic growth in the knowledge-based economy by not only raising total human capital stock in a region but building the close networks that promote productivity-enhancing human capital external effects.

• International Journal of Computer Science & Network Security
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• v.22 no.7
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• pp.21-28
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• 2022

The increase in the number of large cities and the size of their population sharpens attention to the new role of cities as entities to ensure a high-quality, safe and modern life of citizens, which has become significantly more active in recent years. The rapid spread of smart cities in the modern world has actualized the issue of analyzing their success and assessing the role of various factors in this. Every success of a smart city is always the result of a unique combination of the most modern technologies, environmental and social initiatives, skillful and consistent management, as well as available human potential. The purpose of the article is to analyze the success factors of smart cities based on the generalization of the results of the most famous ratings. In order to identify the impact of various factors, primarily intellectual, on the success and leadership positions of smart cities, the following ratings were consistently analyzed: Smart City Index (SCI), City in Motion Index (CIMI), Global Power City Index (GPCI), Global Cities Index (GCI), Global Cities Outlook (GCO). They have a different list of indicators and main pillars (dimensions), but all ratings take into account aspects such as: governance, ICT, mobility, functionality, human capital, etc. The highest correlation coefficient, that is, the strongest linear relationship of the CIMI index was found with such factors as: Human capital, Economy, Governance and Technologies. Summarizing the results of the TOP 20 smart cities according to different ratings allowed us to confirm that the list of leaders is very similar in all ratings. Among those cities that are in the TOP-20 in all five indexes are: London, Sydney and Singapore. There are four indices: New York, Paris, Tokyo, Copenhagen, Berlin, Amsterdam, Melbourne. Achieving leadership positions in smart city rankings is always the result of a combination and synergy of certain factors, and first of all, it is the quality of human capital. The intensity and success of the use of information and communication technologies in locality management processes, city planning and improvement of the city's living conditions depend on it.

• Asia-Pacific Journal of Business
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• v.13 no.1
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• pp.37-52
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• 2022

Purpose - The objective of this study is to investigate what motivates global FDI inflows in the different economic development level and to clarify the FDI motivation type in the level of qualitative economic growth. Design/methodology/approach - Major macroscopic social·economic factors induced FDI inflows were analyzed using fixed-effect panel regression with 30-year panel data of 28 countries from 1985 to 2014. For analysis in the stage of economic growth, two category of developed and developing countries was used. And to analyze FDI motivation type in the level of qualitative economic growth, 4 shares of GDP; consumption·government·investment expenditure and export, was used as explanatory variable. Findings - In developed country, TFP(total factor productivity) and GDP have a great influence on FDI inflows, and consumption and labor compensation have a slight effect. This result indicates that the market seeking-driven, horizontal type investment is shown along with efficiency seeking investment. In developing country, human capital and TFP is shown to have greater impact on FDI inflows and labor compensation, exports, investment and government expenditures also have impacts. Thus it has confirmed that not only efficiency-seeking vertical investment for using low cost well educated laborer, but also government-driven economic growth and export policies could affect the FDI inflows. Research implications or Originality - The FDI investment decision making of multinational companies is decided by their own purpose. But, in the concept of as follows; 1) FDI is a long-term capital flowing for maximization of economic utility with limited global resource, 2) Thus FDI could be affected by macro socio·economic factors of host country. 3) Also such macro factors is different by each economic growth qualitative level. Therefore macro socio·economic factors of each country could be affected by the qualitative level of their own economic growth. To attract FDI inflows, it is desirable to implement differentiated incentive policies in the qualitative level of economic growth. Furthermore in developing countries it is recommended to implement government driven economic growth policies as follows; fostering well educated human resources, improving technology productivity in the relative lower cost labor market compared to developed countries and boosting international export volume.

• East Asian Economic Review
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• v.25 no.1
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• pp.3-31
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• 2021

This paper estimates the effects of transport (road and rail) & energy and ICT infrastructure (telephone, mobile, and broadband) on GDP growths in neighboring countries as well as own countries. We confirm positive direct contributions of infrastructure, access to Internet, and human capital on economic growth. The spatial panel regression models indicate that there exist positive externalities of the broadband infrastructure and human capital, and these results are robust regardless of the choice of spatial weight matrices. Our findings on spillover effects of infrastructure suggest the key role of neighboring countries' infrastructure on own country's economic growth.

• Journal of Labour Economics
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• v.14
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• pp.281-305
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• 1991

• Journal of Technology Innovation
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• v.15 no.2
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• pp.177-209
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• 2007

This work firstly aims to analyse the balance between tangibles and intangibles as well as among human capital, structural capital and relational capital of evaluation indicators for the research institutes in science and technology sector conducted in 2006, by adopting intellectual capital model. The research question of this work comes from that while the R&D activity can produce both tangibles and intangibles, there have no been methodologies to relevantly measure and rationally judge these, in particular, intangible performance. The result shows that the institute evaluation system in 2006 had given more weight on tangibles and structural capital than intangibles and other intellectual capitals such as human capital and relational capital, in comparison to the past evaluation system, even though, in principle, the current evaluation system has to deal with the intangible research performances as well as tangible ones in economic, social and cultural perspective. Finally, based on these analysis, I will try to suggest some policy directions for overcoming the deficits of indicators in institute evaluation system.

• Journal of Digital Convergence
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• v.11 no.2
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• pp.71-78
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• 2013

The purpose of the paper is to empirically investigate the role of human capital and labour market conditions in the growth process. To do so, cross-sectional data for 3062 counties across 50 states of the US. Firstly, findings from the empirical estimation suggest income convergence among US counties. Secondly, the stock of human capital appears to have the growth enhancing effect while education expenditures turn out to retard economic growth. Thirdly, it is found that the unemployment rate would have a negative association with regional growth whereas the net migration rate is likely to have a positive relationship with growth. Once the sample counties are divided into both the poor group and the rich group, finally, such main empirical results overall remain unchanged and statistically significant.

• Journal of Labour Economics
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• v.19 no.2
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• pp.137-159
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• 1996

• Journal of Labour Economics
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• v.26 no.3
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• pp.29-47
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• 2003

The study analyzes how effective the Government Internship Program has been on accumulation of the human capital. The Program was designed under the foreign exchange crisis to support the new, but unemployed graduates with MA or Ph.D degree in the science and the engineering fields. The survey data is collected from the participants in the Program. The Tobit model is estimated to find the economic effects of the Program in terms of the rate of return of investment in the human capitals of the intern researchers. Considering that the Program is tentative and that the human capitals of the participants are easily obsolescent, the rate of return is observed to be substantially large. These results imply that the Internship Program has been successful in terms of providing not only the researchers with the opportunity to accumulate the human capital by means of the on-the-job-training, but also the institutes or the firms with the opportunity to utilize the high-quality researchers at the low cost.