• International Journal of Internet, Broadcasting and Communication
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• v.16 no.1
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• pp.233-240
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• 2024

We analyzed the effect of local college students' economic activities on the local economy. The analysis method was an industry-related analysis based on data obtained from a survey. As a result of the analysis, local university students were found to be sensitive to price when consuming due to insufficient living infrastructure around local universities. In addition, as a result of analyzing the impact of local college students' consumption expenditures on the local economy, especially local income, using a regional industry correlation table, the total income generated was KRW 130.6 billion (direct and indirect income effects KRW 90.9 billion, induced income effects KRW 39.6 billion), and the number of people induced to be employed was KRW 130.6 billion. It was estimated that there were 2,145 people per year. We examined the effect of local college students' economic activities on the local economy through quantitative analysis. This is a contribution point of the study as evidence supporting the maintenance and necessity of local universities, and suggests that the government and local governments should take active interest and efforts in fostering local universities.

• Journal of Preventive Medicine and Public Health
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• v.29 no.4 s.55
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• pp.831-842
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• 1996

Demand for high quality medical care has recently been increasing in step with high level of income and education. Patients prefer the use of large general hospitals to small community hospitals. Large hospitals, usually located at urban area, expand their capacities to cope with the increasing demand, therefore, they easily secure revenue necessary for growth and development of hospitals. However, small community hospitals are facing with serious financial difficulties caused from the reduction of patients in one hand and the inflation of cost in another. If small rural hospitals were closed, the closure would have negative impacts on local economies in addition to the decrease in access to medical care. Community leaders should have an insight on the contribution of community hospitals to local economies. They could make a rational decision on the hospital closure only with the understanding of hospital's contribution to the community. This study is designed to develop an economic model to estimate the contribution of rural hospital to local economies, and also to apply this model with a specific hospital. The contribution of a hospital to local economies consists of two elements, direct effect and multiplier effects. The direct impacts include hospital's local purchasing power, employee's local purchasing power, and the consumption of patients coming from outside the community. The direct impact induces multiplication effect in the local economy. The seed money invested to other industries grows through economic activities in the region. This study estimated the direct effect with the data of expenditure of the case hospital. The total effect was calculated by multiplied the direct effect with a multiplier. The multiplier was drown from the ratio of marginal propensity of income and expenditure. Beside the estimation of the total impacts, the economic effect from the external resources was also analyzed by the use of the ratio of patients coming outside the region. The results are as follows. 1. The direct economic contribution of the hospital to the local economy is 1,104 million won. 2. The value of multiplier in the region is 2.976. 3. The total economic effect is 3,286 million won, and the multiplication effect is 2,182 million won. 4. The economic contribution from the external resources is 245 million won which is 7.5% of the total economic effect.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.4
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• pp.121-131
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• 2020

This study aims to investigate the interplay between education and local roads on Foreign Direct Investment (FDI) in the Philippines, using economic growth as an instrument. The study used the quantitative research design applying both descriptive and inferential statistics. A combination of Two Stage Least Square Regression Model and three approaches in Panel Regression Model such as Pooled Least Square, Fixed Effect Model, and Random Effect Model were utilized in order to study the effects of education and local roads on foreign direct investment of the Philippines. Based on Fixed Effect regression results, higher education graduates and local road investments, as conditioned by economic growth, were significant factors in order to increase the foreign direct investment in the Philippines. Accordingly, a unit increase in higher education graduates, as conditioned by economic growth, leads to 8.758 unit increases in the foreign direct investment. While, a unit increased in local road investments, as conditioned by economic growth, leads to a 0.002 decrease in foreign direct investment. The regression results of the study suggest that the Foreign Direct Investment in the regions such as CAR, I, II, IV-B, V, VIII, IX, X, XI, XII, XIII, and ARMM are higher compared to Region IV-A.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2981-2991
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• 2018

The purpose of this paper is to examine the effect of local festivals on regional economic growth through empirical analysis of festival - economic growth relation. Theoretically, the theory of creative city is at the center of the discussion as to how festivals can influence economic growth. We used the regional convergence equation and used pooled OLS, fixed effect model, and GMM estimation method to analyze the effect of festivals on regional economic growth. According to this empirical analysis, the effect of festival variables such as the number of festivals and the festival period on economic growth has not been affected. This suggests that the effects of festivals on productivity and efficiency have not existed. This implies that the creative city theory that local festivals influence regional economic growth does not work well.

• New & Renewable Energy
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• v.17 no.2
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• pp.9-23
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• 2021

In Korea, various community investment renewable project models are being implemented to increase community acceptance of renewable energy. An important factor for enhancing local acceptance is that renewable energy projects have a positive effect on revitalizing the local economy such as income increase or job creation for residents and local companies. To maximize the local economic effect of large-scale community investment renewable energy projects, this study developed an evaluation index for local economy activation, whose indicators are the local return on investment, local companies' participation, local job creation, regional cooperation, transparency, and governance. Analysis of existing evaluation indicators and current renewable projects, financial analysis, and expert interviews were used in this research. The pilot evaluation determined that, the local economic effect was high in the following order: a fund investment wind project (Gangwon), benefit-sharing wind project (Jeju), and general wind project. In particular, residents' investment amount, the number of participating residents, and the amount and transparency of the regional cooperation fund were key factors to expand the effect of local economy activation. This evaluation index could be used in public bidding for renewable energy projects such as offshore wind zoning areas of local government.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.379-390
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• 2020

This study aims to get empirical evidence about the influence of budgetary participation and understanding of the accounting system on the performance of local government apparatus with organizational commitment as an intervening variable. The population in this study was structural apparatuses in the Regional Apparatus Organization (OPD) of Sleman Regency, Indonesia, which included offices and agencies with a total of 25 OPDs. 125 people were selected as sample by using purposive sampling based on specific criteria. Data were analyzed based on multiple regression and path analysis (Analysis Path) utilizing the SPSS program. The results of this study indicated that budgetary participation had no positive influence on organizational commitment; understanding of the accounting system had a positive effect on organizational commitment; organizational commitment did not have a positive effect on the performance of local government apparatuses; budgetary participation did not impact positively on the local government apparatuses performance; understanding of the accounting system positively effected the performance of local government apparatuses; participation in budgeting did not have a positive effect on the local government apparatuses performance through organizational commitment; while understanding the accounting system had a positive impact on the local government apparatuses performance through organizational commitment.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.2
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• pp.99-115
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• 2011

This study focuses on the economic effect on regional development and spatial distribution of community festivals and events as a regional development strategy in South Korea. Community festivals are totally estimated to 893 cases in 2009, and most of festivals were newly established since 1995. Spatial Distribution of festivals show regional differences. Many of festivals was hold in Jeju, Gyeongnam, Ulsan, and Chungnam provinces, however, Gyeongbuk, Jeonnam, Gwangju, and Gyeonggi provinces were distributed less. The total number of cultural tourism festivals selected as best festival by central government were increased from 10 in 1997 to 57 in 2009, and the everage local economic effects of one cultural tourism festival were also increased from14.2 billion won in 1997 to 33.3 billion won in 2008. In order to estimate the relationship between community frstivals and local economic effect, Geumsan Insam Festival, Muju Firefly Festival, and Hampyeong Butterfly Festival are selected as case study. These three festivals were successful in the tourist attraction, and it were also affected positively to local economic effect.

• Environmental and Resource Economics Review
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• v.33 no.2
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• pp.159-178
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• 2024

This study aims to assess the direct and indirect impacts of local fiscal expenditures on water quality. Panel data spanning from 2010 to 2018 for 173 cities and districts in Korea are assembled, and a two-stage dynamic panel model is utilized for our estimation. The empirical findings reveal several key insights. Firstly, local fiscal expenditures on water quality are effective in ameliorating both Biological Oxygen Demand (BOD) and Total Phosphorus (T-P). Notably, the direct impact on T-P surpasses that on BOD in the short and long run. Secondly, expenditures dedicated to water quality improvement demonstrate a positive effect on local economic growth, and an inverted U-shaped relationship is observed between BOD and local economic growth. Due to the positive linkage, the indirect effect on BOD suggests, on average, a deterioration in water quality during local economic growth. Thirdly, concerning BOD, the direct effect of government expenditure on water quality improvement outweighs the indirect effect, but in the case of T-P, the indirect effect is not significant, and the total effect is solely determined by the direct impact. Despite local fiscal expenditures potentially exacerbating water quality through regional economic growth, the study finds that the direct enhancement of water quality remains a more substantial factor in the short and long run.

• Journal of the Economic Geographical Society of Korea
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• v.20 no.1
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• pp.84-104
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• 2017

In this study, we divided Gyeonggi-do into Northern, Southern, Western, and Eastern Parts and found out fiscal variables which affected regional economic growth of each Part differentially. And we drew the strategy for economic growth of each Part. After we found out the variables which affected regional economic growth using fixed-effect model, we carried out causality test to determine whether a specific fiscal variable caused economic growth. In the Eastern Part, local tax revenues had a significant effect on the economic growth. Total expenditures, current expenditure in the Southern Part and social welfare expenditure, expenditure on industries, current expenditure in the Northern Part had noticeable effects on economic growth respectively. And we calculated multipliers of fiscal variables to compare the magnitudes of effects among these Parts.

• Asian Journal of Business Environment
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• v.9 no.2
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• pp.27-34
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• 2019

Purpose - From the advanced path of development and current situation, the development of enterprises plays a tremendous role in promoting national economic growth and raising the overall national strength. Therefore, this paper aims at examining the mutual effect between small & medium enterprises and economic growth. Research design, data, and methodology - In order to address the operating mutual effect between the small & medium enterprises and economic growth more clearly, this paper sets Alibaba Group and Hangzhou as an example. Meanwhile, the annual data from 2000 to 2017 will be employed, and an empirical analysis will be performed under the vector error correction model. Results - The findings display that the total revenue of Alibaba Group has a positive effect on economic growth in city of Hangzhou. However, the Granger Causality test implies that there is only a unidirectional causality between total revenue of Alibaba Group and economic growth in Hangzhou. More specifically, 1% increase in total revenue of Alibaba Group can result in 0.272% in economic growth of Hangzhou in the long run. Conclusions - In summary, for the long run, the local governments should promulgate a series of policies to assist the small & medium enterprises like Alibaba Group to improve the local economic growth as seen in the city of Hangzhou.