scholarly journals A Study of Regional Economic Policy Focusing on Three Approaches

2005 ◽  
Vol 20 (1) ◽  
pp. 35-48
Author(s):  
Sam Youl Lee
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
The United States ◽  
Ordinary Least Squares ◽  
Regional Economic Growth ◽  
High Tech ◽  
Regional Economic ◽  
Quality Of Place ◽  
Industrial Mix

Regional economic growth can have a quite different dynamic and logic than national economic growth. This paper empirically investigates whether three major approaches to regional economic development: industrial mix, human capital, and quality of place significantly contribute to the regional economy. This paper tests the hypotheses using ordinary least squares (OLS) based on state-level data from the United States. The OLS results indicated a significant effect of industrial mix on regional economic growth when other factors were controlled for, though significance levels differed depending on the definition of "high-tech industry". The joint hypothesis test on human capital and quality of place showed they were statistically insignificant. The insignificance of the human-capital variables was different from the expectation. This may be caused by the fact that the level of analysis of this study is a state rather than a city, which may dilute the concentration of human capital in major cities. The significance of the industrial mix variables is meaningful because the positive relation between the concentration of high-tech industries and regional economic growth supports regional governments' efforts in Korea to establish or lure more high-tech industries into their regions. However, because the result is sensitive to various definitions of high-tech industries, it needs cautious interpretation.

scholarly journals The Impact of High-Speed Railway on China’s Regional Economic Growth Based on the Perspective of Regional Heterogeneity of Quality of Place

2021 ◽  
Vol 13 (9) ◽  
pp. 4820
Author(s):  
Shanlang Lin ◽  
Prithvi Raj Dhakal ◽  
Zhaowei Wu
Keyword(s):  
Economic Growth ◽  
High Speed ◽  
Regional Economic Growth ◽  
High Speed Railway ◽  
Regional Economic ◽  
Fixed Assets ◽  
Quality Of Place ◽  
Investment In Fixed Assets ◽  
The Impact

Transport enables trade between people, which is essential for the development of civilizations. Transport is a crucial necessity for specialization, allowing production and consumption of products to occur at different locations. High-speed rail (HSR) allows the flow of people between regions, cities, countries. With rapid global development in HSR technology for passenger transportation, it plays a vital role in transportation systems. The improvement of the quality of cities with different emphasis will bring different economic development results. Therefore, exploring the impact of high-speed railways and quality of place on economic development is necessary. This paper takes the prefecture-level city with a high-speed railway opened in 2008–2013 as the research sample and takes other prefecture-level cities in the country as the control group. The study findings revealed that employment, investment in fixed assets, average wage, and higher education institute significantly affect China’s regional economic growth. Institute of higher education reflects the negative effect on the regional economic growth whereas the employment, investment in fixed assets, and average wage rate positively impact it. Based on the results, it can be concluded that China’s regional economy is significantly affected by its quality.

scholarly journals Social capital and economic growth in the regions of Europe

2021 ◽  
pp. 0308518X2110000
Author(s):  
Jonathan Muringani ◽  
Rune D Fitjar ◽  
Andrés Rodríguez-Pose
Keyword(s):  
Economic Growth ◽  
Social Capital ◽  
Human Capital ◽  
European Social Survey ◽  
Knowledge Flows ◽  
Regional Economic Growth ◽  
Lower Growth ◽  
Regional Economic ◽  
Bonding Social Capital ◽  
Bridging Social Capital

Social capital is an important factor explaining differences in economic growth among regions. However, the key distinction between bonding social capital, which can lead to lock-in and myopia, and bridging social capital, which promotes knowledge flows across diverse groups, has been overlooked in growth research. In this paper, we address this shortcoming by examining how bonding and bridging social capital affect regional economic growth, using data for 190 regions in 21 EU countries, covering eight waves of the European Social Survey between 2002 and 2016. The findings confirm that bridging social capital is linked to higher levels of regional economic growth. Bonding social capital is highly correlated with bridging social capital and associated with lower growth when this is controlled for. We do not find significantly different effects of bonding social capital in regions with more or less bridging social capital, or vice versa. We examine the interaction between social and human capital, finding that bridging social capital is fundamental for stimulating economic growth, especially in low-skilled regions. Human capital also moderates the relationship between bonding social capital and growth, reducing the negative externalities imposed by excessive bonding.

scholarly journals Human Capital and Regional Economic Growth in Russia

2021 ◽  
Vol 17 (2) ◽  
pp. 57-80
Author(s):  
Boris Alekhin
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Panel Data ◽  
Capital Accumulation ◽  
Positive Impact ◽  
Regional Economic Growth ◽  
Human Capital Accumulation ◽  
Regional Economic ◽  
Long Run ◽  
Per Capita

This study examines the contribution of human capital accumulation to regional economic growth using panel data for 82 subjects of the Russian Federation over 2002–2019. This paper aims to test the hypothesis that in the long-run equilibrium there exists a connection between economic growth and human capital accumulation in the regions of Russia. From the point of view of econometrics, it would mean that we should refute the hypothesis that there is no cointegration of time series describing the aforementioned variables. General theoretical framework was drawn from the neoclassical growth theory, and panel data econometrics suggested the appropriate empirical methodology. Pooled mean group and fully modified least squares estimators were applied to an autoregressive distributed lags model based on the Solow model. The results indicate that accumulation of human capital has a positive and statistically significant long-term impact on the rate of growth of per capita income and that these variables are cointegrated. Such calculations allow us to make the following conclusions: per capita GRP is cointegrated with physical and human capital on the regional level. The cointegrating equation ‘explained’ more than 90% of per capita GRP variance. Human capital accumulation had a significant positive impact on per capita GRP growth in the long run; such impact exceeded the impact of physical capital accumulation. The positive impact of human capital accumulation on per capita GRP growth surpassed the negative elasticity of growth GRP by the amount of resource excluded from the real sector to provide support to students and maintain the regional education system. The paces at which regional economies were heading towards the steady state differed which is an evidence that there exist an incredible manifold of ways and means for regions to adjust to disbalancies

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