earticle

영어

Since introduction of local self-government, each local government has tried to develop their local economy with autonomy. The results of development differed from local to local due to the characteristics of each local. This study aims to identify factors affecting local economic development focusing on Chungbuk. This study classifies 5 factors influencing on local economic development which consists of GRDP and increase of population. These five factors include transportation, industrial location, capital, environment and, administrative and financial sectors. After identifying the most influential variables using the bivariate tests, the current study employs multiple regression to test the VAR model. There are significant correlations among the variables. In addition, the analyses reveal the causal relationships among road, factory area, and variables related to labor supply. Impulse Response Function and ANOVA show that transportation, industrial location and capital effect on development of GRDP, and conditions of settlement environments such as an educational institution are influential on increase of population of the local.