• East Asian Economic Review
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• v.17 no.1
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• pp.55-79
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• 2013

The objective of this article is to explore the economic relationship between China and the surrounding dynamic Asian economies. It delves into China's influence over the Asian economies and whether this relationship is a market-led or de facto symbiosis. The three principal channels of regional integration analyzed in this article are trade, FDI and vertically integrated production networks. They are essentially based on the activities of the private-sector in these economies. China methodically expanded and deepened its economic ties with the regional neighbors. At the present juncture, China's integration with the surrounding Asia is deep. Another issue that this article explores is the so-called China "threat" or "fear" in Asia. It implies that China is crowding out exports of the other Asian economies in the world market place. Also, as China has become the most attractive FDI destination among the developing countries, it is apprehended that China is receiving FDI at the expense of the Asian economies. These concerns were examined by several empirical studies, and the inference is that they are exaggerated. This article concludes that the private-sector business activities in China and other rapidly growing Asian economies were (and are) instrumental in bringing together the production structures and real economies. The result is both convergence and integration among the dynamic Asian economies. Over the years China and its Asian neighbors has developed a close and symbiotic economic relationship and a de facto regional integration.

• Journal of the Korean Regional Science Association
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• v.14 no.2
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• pp.65-75
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• 1998

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.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.4
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• pp.1992-1998
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• 2014

This paper aims to understand the meaning of balanced development among regional economies and its importance in the s0-called knowledge-based economy. It is shown that the balanced allocation of human capital is necessary to achieve the efficient allocation of physical capital among regional economies, which makes the equality of marginal product of capital. And a simulation experiment is conducted to calculate the cost of unbalanced growth. It is shown that balanced growth among regional economies may increase the growth rate of whole national economy while unbalanced growth among them reduce it. The policy implication is that for an any economy to grow at a higher rate, the efficient allocation of physical and human capital both are necessary to have the balanced growth of regional economies in knowledge-based economy.

• Journal of the Economic Geographical Society of Korea
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• v.10 no.4
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• pp.355-376
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• 2007

The aim of this study is to examine the changes of approach methods of research framework in the history of Korean economic geography during the last fifty years($1956{\sim}2005$). The five factors that have influenced Korean economic geography are Korean geography, European, American, and Japanese geography, fundamental theories of economics and business administration, regional problems, and culture. The study of Korean economic geography can be divided into four periods: 'period of cradle of economic geography($1956{\sim}1962$)', 'period of establishment of economic geography(1963$\sim$later 1970s)', 'period of leap of economic geography(the former half of 1980s$\sim$the former half of 1990s)', and 'period of transition of economic geography (since later 1990s)'. And research framework of Korean economic geography has changed from the regional structure theory in 'period of leap' to the spatial system of economies and network theory in 'period of transition'. Spatial system of economies and network theory consists of spatial system of world economies, spatial system of national economies, spatial system of regional economies, spatial network of enterprise economies, and spatial network of information economies.

• East Asian Economic Review
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• v.17 no.4
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• pp.333-359
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• 2013

Two mega-regional negotiations are changing the landscape of Asia Pacific trade policy: an Asian track centered on ASEAN (the Regional Comprehensive Economic Partnership or RCEP), and a Trans-Pacific track centered on the Trans-Pacific Partnership (TPP) among 12 economies, including the United States, which Korea is expected to join. Modeling results suggest that both would generate substantial benefits for Korea and the global economy. From Korea's viewpoint, the agreements would establish new FTAs with China, Japan and smaller economies, improve the utilization of FTAs by permitting the regional cumulation of inputs, and help to upgrade some Korean FTAs to more rigorous standards. By participating in these agreements, Korea could also help to guide them toward inclusive, high-quality regional outcomes. As one of the region's most open and agile economies, Korea has a large stake in regional integration and would be well advised to pursue both tracks.

• Journal of the Korean Regional Science Association
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• v.13 no.2
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• pp.45-54
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• 1997

A regional economy is characterized as a spatial economy. However the literature shows that it has been treated as a point economy since space is little recognized in regional modeling due to mathematical complication. This leads to the fact that regional model does not sufficiently represent regional characteristic. This paper attempts to construct a regional growth model in a partial equilibrium framework specifically taking into consideration land as a primary factor. The model is formulated largely neoclassical. Labor is assumed to move in response to differences in the wage rate, while capital is perfectly mobile across regions. The paper shows that two growth equilibrium points exist, one stable equilibrium point and the other unstable equilibrium point. The unstable growth equilibrium indicates the existence of minimum threshold that a region must overcome the minimum threshold to grow constantly. Consequently, directions of regional growth are characterized by two growth paths depending on the initial condition of a region. That is to say, a region below the minimum threshold is converging toward the lower stable equilibrium point over time. When a regional economy initially lies above the minimum threshold, it will grow forever. A regional economy is not thus necessarily converging a stationary is not thus necessarily converging a stationary equilibrium point through factor movement. Finally, the impacts of the presence of agglomeration economies and diseconomies are analyzed through the phase diagram. The paper also shows that agglomeration economies result in lowering the minimum threshold and in escalating the level of stable equilibrium However, when agglomeration diseconomies prevail, the results are opposite, i.e., rising the minimum threshold of growth and lowering the growth level of stable equilibrium.

• World Technopolis Review
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• v.3 no.2
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• pp.66-77
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• 2014

This paper aims at exploring a conceptual framework of analyzing the evolutionary processes of regional economies by reconciling the notion of regional resilience and the concepts prevailing in the disciplines of evolutionary economics and geography. The resilience framework appears to offer a promising outlet with which combination of the seemingly contradictory conceptions is made possible. It can address why some regions manage to adapt to external shocks, renew themselves, or lock out themselves, while others are more locked in decline. In addition, it can also explain how the spatial organization of economic production, distribution, and consumption is transformed over time. Then, regional economic resilience, together with its accompanying vehicle of panarchy, emerges as a workable framework of explaining regional differentiation in regional economic performance and trajectories. Despite the risk of being a fuzzy concept, the resilience conception can be properly operationalized to provide policy principles of regional economic innovation adjusted to region-specific contexts.

• International Commerce and Information Review
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• v.11 no.3
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• pp.191-215
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• 2009

This study extends the previous research into the effects of knowledge spillovers on innovation and regional exports growth by more clearly distinguishing, both theoretically and empirically, two different types of knowledge spillovers, namely product and market knowledge spillovers. More importantly, this research provides insights on their role of knowledge spillovers in shaping regional innovative activities and, eventually, regional export growths. Furthermore, this research makes an important contribution to the understudied market knowledge spillovers by developing two variables that could be used to assess the flow of market knowledge spillovers at the regional level: localization economies and export consulting advice. Using secondary data on eight 2-digit manufacturing industries in ten New Zealand regions over a seven year period, this research found that regional competition, localization economies and the availability of export consulting advice have positively and significantly impact on the regional export growth in New Zealand.

• International Commerce and Information Review
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• v.2 no.1
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• pp.3-24
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• 2009

This study extends the previous research into the effects of knowledge spillovers on innovation and regional exports growth by more clearly distinguishing, both theoretically and empirically, two different types of knowledge spillovers, namely product and market knowledge spillovers. More importantly, this research provides insights on their role of knowledge spillovers in shaping regional innovative activities and, eventually, regional export growths. Furthermore, this research makes an important contribution to the understudied market knowledge spillovers by developing two variables that could be used to assess the flow of market knowledge spillovers at the regional level: localization economies and export consulting advice. Using secondary data on eight 2-digit manufacturing industries in ten New Zealand regions over a seven year period, this research found that regional competition, localization economies and the availability of export consulting advice have positively and significantly impact on the regional export growth in New Zealand.

• East Asian Economic Review
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• v.20 no.2
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• pp.129-168
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• 2016

The Asia-Pacific region is not typically seen as one geographic or socio-economic space. Yet, 58 regional economies occupying the space of 28 million square kilometers from Turkey in the West, Russian Federation in the North, French Polynesia in the East and New Zealand in the South belong to the Economic and Social Commission of Asia and the Pacific (ESCAP). This commission provides a forum for member states that "promotes regional cooperation and collective action, assisting countries in building and sustaining shared economic growth and social equity". In 2013, ESCAP's members adopted the Bangkok Declaration to enhance efforts towards deeper regional economic integration. Yet this document neither proposes a concrete modality or modalities of achieving deeper integration, nor provides a sense of distance of individual countries to a "perceived" integrated Asia-Pacific.This paper aims to comprehensively quantify recent integration efforts of economies in the Asia-Pacific region. We provide an "index of integration effort" based on twelve metrics that measure the relative distance of a given economy to the region as an economic entity. Generally, we find that while the region has trended towards becoming integrated in general, both the level of integration and integration effort are inconsistent among Asia-Pacific economies. We discuss potential applications and extensions of the index in developing our perspective of the region's economic and social dynamics.