• Journal of Distribution Science
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• v.15 no.4
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• pp.25-32
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• 2017

Purpose - The introduction and expansion of the railway network since the 19th century brought revolutionary changes in economic activities, performance, and structure. The purpose of this study is estimating the impact of railroads on the local agricultural and manufacturing structures in the 19th century USA. Research design, data, and methodology - To identify the impact of railroads on local economic structure, county-level panel data from the U.S. census were analyzed using a panel fixed-effect differences-in-differences regression. The empirical investigation focuses on whether railroads changed the overall volume and sectoral composition of the local agricultural sector, and whether they contributed to the growth of the local manufacturing industry and its productivity. Results - The railroad introduction led to the relative decline of the agricultural sector, while encouraging the growth of market-oriented gardening. As such, manufacturing productivity increased by the introduction of railroads, although manufacturing inputs and home manufactures were unaffected. Conclusions - The findings imply that railroads contributed to the growth of market-oriented farming in rural areas, and the rise of productivity in the local manufacturing sector. Meanwhile, evidence of railroad-driven growth for the entire agricultural sector or a massive reallocation of resources from agriculture to manufacturing were not found.

• Journal of the Korean Regional Science Association
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• v.40 no.2
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• pp.3-19
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• 2024

The purpose of this study is to analyze the impact of attracting a university campus on the local economies of small and medium-sized cities, focusing on changes in local commercial neighborhoods(such as the number of startups, closures, and stores counts). For this study, a Difference-in-Difference(DID) analysis was used to compare the period before and after the attraction of university campuses in four local small and medium-sized cities. These include the Yangsan Campus of Pusan National University, the Jincheon Campus of Woosuk University, the Taean Campus of Hanseo University, and the Dangjin Campus of Hoseo University. The comparison was based on the number of startups, closures, and store counts, using local data provided by the Ministry of the Interior and Safety. The main findings of the study are as follows. First, attracting a university campus has a positive impact on the number of startups, both spatially and temporally. The spatial factors for the number of closures and stores showed a decrease, while the interaction terms representing the period before and after attracting the university campus all indicated an increase. Second, the number of startups in cultural and food-related sectors increase, reflecting the new demand created by attracting the university campus. However, there was also an increase in the number of closures, indicating rapidly changing consumption trends among university students. Third, physical environmental factors such as the number of building floors, land use zoning, and officially assessed land prices have a significant impact on the number of startups, closures, and stores. This supports the assertion that attracting university campus have a positive impact on the revitalization of local commercial neighborhoods.

• Korean Business Review
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• v.15
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• pp.47-58
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• 2002

Samsung Electronics has 25 production bases, 36 marketing subsidiaries and 23 overseas offices in 46 countries around the world. Samsung Electronics global strategy involves seven main regions: North America, Europe, Southeast Asia, Central Asia, China, the CIS and Latin America. Samsung Electronics is dedicated to helping the local communities where it does business, helping to advance local economies and develop products that best suit local needs. This case attempts to introduce the localization strategies of Samsung Austin Semiconductors especially with respect to the community service programs. Samsung Austin Semiconductors develops a framework for a firm to adapt in a foreign environment creating corporate citizenship. This model surely helps the firm to adapt, survive and grow even in a hostile foreign environment.

• Journal of the Economic Geographical Society of Korea
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• v.24 no.3
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• pp.350-364
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• 2021

The purpose of this study is to examine changes in local government objectives due to the change of local government heads in Hwasun-gun of Jeonnam province, and to analyze performances of regional development policies, regional development vision, and local government objectives setting by the 6th local election. The local government objective and slogan of hwasun-gun continued to change due to frequent replacement of local government heads from 1st to 6th local election. The slogan of the 6th local election was set as 'Luxury Hwasun, Happy Citizens' and addition, six local government objectives were set: trusted administration, shared welfare, attractive culture, vibrant rural areas, dream-planting education, and vibrant economies. The performance of local government objectives of the 6th local election showed a 90% achievement rate compared to the planned goal.

• Journal of the Korean Regional Science Association
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• v.15 no.1
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• pp.75-92
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• 1999

In this study, the present state of fiscal crisis for local governments after IMF is analyzed, firstly. its implications Characteristics of structural reform of finance after IMF bailout in Korea are examined, secondly. Since Korea was shocked by the currency crisis at the end of 1997, its local governments have also faced fiscal difficulties. The Depression of national and local economies led to decreases in tax revenues of local governments. And these shrunken revenues led to their expenditure cuts. Many investment plans were curtailed, and ordinary expenditures were also reduced sharply. The negative influences of the currency crisis on local government's finances can be examined in terms of fiscal revenue, fiscal spending, and debt burden. As a result many local governments are now experiencing fiscal stress, and some of them are even faced with fiscal crisis although the possibility of extreme measures, such as moratoriums or bankruptcies, is very slim. This is due in part to the weight of debt in local governments' budgets having remained small since the debt of local governments has been controlled by the central government. Another reason is that, central government, which functions as a lender of last resort for the local governments, will pay the debt for them. Also, without a legal system which stipulates the adjudication of bankruptcy for municipalities in Korea, local Korean governments have no legal right to declare bankruptcy. Although not a single municipality has fallen into insolvency, yet, this trend will continue to deepen as the recession continues and may lead to a situation where manu local governments fall into virtual bankruptcy in the near future, and its effects on society, as a whole, will be serious. Therefore, measures to prevent and overcome such an extreme situation are necessary, but both short-and long-term policies should be to cope with the current fiscal crisis and to prevent the deepening of the current situation.

• STI Policy Review
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• v.8 no.1
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• pp.1-22
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• 2017

There has been a pronounced increase in research and development (R&D) expenditure in Singapore over the last two decades, with government spending accounting for a sizeable share. This increase has been spurred by public policy emphasis on research and innovation as engines of economic growth. This paper analyses the impact of R&D on economic performance in Singapore from 1978 to 2012 through the use of time series analysis. The Cobb-Douglas based analysis shows a long-run equilibrium relationship between Total Factor Productivity (TFP) and R&D investments. We found that the short-run productivity of R&D in Singapore is comparable to smaller advanced economies in the Organisation for Economic Co-operation and Development (OECD). However, in terms of long-run R&D productivity, Singapore lags slightly behind the smaller OECD nations and far behind the G7 countries. This suggests leakage of value capture and low absorptive capacity in local firms. Possibility of productivity improvements induced by policy changes in the 1990s was considered, but no evidence of significant structural breaks was found. Lastly, Granger causality analysis reveals that public sector R&D augments private sector R&D capital, thus playing an important role in generating externalities and spillover effects. Policy implications and lessons for other middle-income countries are discussed.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.7
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• pp.219-229
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• 2022

This study aims to analyze the economies of scale of the cottage industry for coconut sugar production in Banyumas, Indonesia. This study applies a survey method to coconut sugar craftsmen. Data analysis was performed by regression analysis based on the Cobb-Douglas production function approach. The findings indicated that decreasing returns to scale was a problem for the domestic production of coconut sugar. These findings show that the production of coconut sugar is not very productive. Labor and financial capital inputs have a significant positive share but the resulting increase in output is less proportional than the increase in the two inputs. Social capital, experience, and education do not affect industrial performance. To increase input productivity and production efficiency, it is necessary to apply more effective production techniques and technologies to produce quality products so that the selling price can be higher. Additionally, it is required to enhance the sap's quality through its extraction methods and the regrowth of high-yielding coconut tree varieties. From the institutional aspect, the development of this industry requires stronger partnerships with related parties such as local governments, exporting companies, cooperatives, and universities through research and development.

• Food Quality and Culture
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• v.2 no.2
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• pp.73-79
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• 2008

Recently, increasing interests in local foods have been highlighted along with active efforts and activities from autonomy organizations to develop local cultures and promote local economies by generating value added products and profits through the development of local foods. Subsequently, useful effects might result by making local foods attractive to tourists, such as by using indigenous Gimpo products to make menu items that incorporate the social, economic, and cultural aspects of the Gimpo area, and contributing to its food culture, the development and use of its indigenous products, and promoting local restaurant businesses, etc. The items of the survey used to select the local food menu items to be developed were limited to ideas offered by expert groups, and were implemented by a new menu development process. In order to derive the menu items to develop, the following method was applied: a brainstorming session with experts to generate and draft ideas, a questionnaire to chefs and cooks in special grade hotels is Seoul to select the menu items to develop from those drafted, and sensory evaluations by experts to evaluate the developed items. Frequency analysis and technical statistical analysis were performed using the SPSS 12.0 program package, where 13 kinds of local foods were ultimately developed using indigenous products of Gimpo. The developed local food menu items were rice & grape sujaebi, grape sikhae, fried rice embryo bud, grape yanggaeng, rice pancakes, rice spaghetti, grape seed oil dressing, grape sauce, rice pizza, grape pie, rice & grape ice cream, grape chocolate, and rice roll cakes.

• World Technopolis Review
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• v.5 no.2
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• pp.98-107
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• 2016

By highlighting the efficiencies gained from regional specialization, the cluster concept has distracted economic development officials from their traditional role of diversifying regional and local economies. Clustering was a viable strategy for much of the 18 years following its original appearance in the literature. Now, two events cast doubt on the continued viability of cluster-based specialization. First, the digital convergence has blurred the boundaries that once separated one industry from another. An industry cluster strategy becomes difficult when the industry cannot be defined. Second, many cluster initiatives fail. Combining literature search with the system-theoretic notions of efficiency and redundancy, we find many factors moderate cluster success. This implies regions facing uncertain success in their cluster-building efforts should thoroughly understand their unique circumstances and build upon them. Regions with successful clusters are advised to aim for multiple related clusters or superclusters.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.28 no.3
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• pp.109-114
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• 2005

The founding purpose of Business Incubation System is to induce those businessmen who have technology and promising business ideas but are lacking fund, information, and management skill, and to speed up their business establishment and enhance the level of success by providing them with managerial knowledge, production technology, design, and equipment. While some universities made Business Incubation Center to achieve the above purpose, some other universities, especially the local ones, believed that Business Incubation Center, if managed successfully, could be an accelerator picking up the sluggish local economies. This study studied the motivators that let them move in an Incubating Center, their request for support, their level of expert utilization, and the role of head of a Center. This study found a significant level of correlation among the variables such as industrial-educational cooperation, the development of common items, utilization of professors with matching majors, utilization of research professors, and transfer of technology.