Digital Commons Network^™

The Impact Of Education And R&D Investment On Regional Economic Growth, Youngjin Woo, Euijune Kim, Jaewon Lim

Public Policy and Leadership Faculty Publications

The purpose of this paper is to examine the impact of education and R&D investment on regional economic growth in South Korea. We develop a simultaneous model of production, human capital accumulation, migration, population and physical capital investment of two regions: the Seoul Metropolitan Area and the rest of Korea. We decompose the regional growth path into a quality path and a quantity path to identify how regional economies grow and run simulations to evaluate alternative policies in terms of effectiveness and adaptability. The impact of education and R&D investment on regional growth in the rest of Korea is only …