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Korea's infrastructure development and the role of public corporations

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Frame of Image >> A lot of criticism for regionally unbalanced growth, but inevitable choice. KDI School Becoming the Core-Knowledge Hub •2 Concentration creates lower Transaction Costs and higher Spillover Effect Transaction Costs: less transportation costs + more benefits Chemical (Oil) >> Steel >> Automobile, Ship-building << Electronics Spillover Effect (1) MAR Spillovers (A. Marshall, K. Arrow, P. Romer) When firms in the same industry are concentrated in the area : Silicon Valley (good for knowledge exchange and innovation) >>> Generally more important spillover in the development (2) Jacobs Spillovers (J. Jacobs) When firms in the diverse industries concentrated in the area : University (good for interdisciplinary interactions) KDI School 3 Becoming the Core-Knowledge Hub From Regional Focus to Balanced Growth Benefits Regionally Focused Strategy Regionally Balanced Strategy Low transaction cost High spillover effect Higher return for infrastructure Regional co-development No mega city problems Costs Mega city problems Regional disparity High transaction costs No spillover effect n general, at the early stage of development, Benefits of regional focus are bigger than the costs. Compromise: Multiple hubs and spokes strategy Concentrate Industries with linkage effects at a complex, and locate those complexes to different regions KDI School 4 I Becoming the Core-Knowledge Hub (2) Prioritize Infrastructure Necessary Infrastructure from Industries’ Point of View Supply of human resources


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Title Korea's infrastructure development and the role of public corporations
Similar Titles
Material Type Proceeding
Author(English)

Park, Jin

Publisher

[Sejong] : KDI School of Public Policy and Management
Date 2015
Event [Workshop] Mid-Career Training Program for IAS Officers
Series Title; No Mid-Career Training Program for IAS Officers: Korea Study Tour
Pages 15
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < General
Industry and Technology < Entrepreneurship
Holding KDI School
License