earticle

영어

R&D-oriented regional development strategy is based on the 'endogenous growth theory', which argues that knowledge-creation activities such as R&D are the key elements of sustainable economic growth. However, if we consider this theory at 'regional' level, it is uncertain that R&D guarantees local economic growth. The purpose of this paper is to explore the regional factors which determine the linkage between local R&D and local economies. We use Casetti's 'expansion method' in order to incorporate regional factors in the regression model. This paper finds out that region's innovation capability, localization economies, business services density, percentage of large companies and local universities are the main contributors of localized R&D effect on regional economies while population outflow has negative effect on localization of R&D effect.