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Korea's infrastructure development and the role of public corporations

Related Document
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


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

Park, Jin

Publisher

[Sejong]:KDI School of Public Policy and Management

Date 2015-07
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