earticle

영어

This study analyzes regional income determination using a five year panel of 163 Korean cities and counties for the year of 1998-2002. Empirical results show that all the variables representing agglomeration economies, infrastructure and financial deepening have significant and great impacts on regional income. The number of patent application, which represents regional innovation activities, has significant and great impact on regional growth, but human capital has only marginal significance. For other variables, the share of agriculture has negative significant effect on regional income, and both the number of private institutes and that of travel companies have positive significant impact along with the share of tertiary sector.