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... According to the research results, long-term economic growth in a region is followed by an increase in R&D investment, indicating a causal relationship between regional economic growth and R&D investment. Choi & Kim (2015) examined the effects of regional economic variables on regional employment growth. The results showed that an increase in regional gross domestic product (GRDP) and local government spending leads to long-term growth in regional employment. ...
This study investigates the impact of regional innovation initiatives on economic development in South Korea. Through a comprehensive analysis, the study demonstrates a compelling relationship between regional innovation efforts and positive economic outcomes. Key findings reveal that regional innovation activities led to significant improvements in the region's economic prowess, as evidenced by increased GRDP, investment levels, and average monthly wages. Research and development (R&D) expenditure and local government spending were identified as key drivers of economic revitalization, further contributing to enhanced employment rates in most regions. The study concludes that regional innovation plays a critical role in boosting the overall competitiveness of a region. By fostering economic growth, generating employment opportunities, and attracting investment, regional innovation initiatives pave the way for sustainable local development. This paper is highlighting the positive impact of regional innovation on economic development in South Korea.
The investment in real estate is an essential part of the regional economic development. In the digital economy, the data element has promoted economic development by accelerating information dissemination. Despite prior studies that have found that real estate investment can positively affect economic development, limited empirical studies explore this relationship based on new production elements perspective. In this study, the data samples are obtained from 31 provinces of China from 2006 to 2019. The OLS regression model is established to evaluate the influence of the investment in real estate on economic development and further examine the change of this kind of influence from regional heterogeneity and temporal heterogeneity aspects. This study demonstrates that the investment in real estate can influence the economy positively when the data element is involved in production. The influence of investment in real estate on economic growth in developed regions is lower than that of undeveloped regions. The influence was positive and significant before 2010, while the influence of the investment in real estate on economic development was negative after 2010. Besides, the data element has gradually become essential in driving economic growth. The government should control the investment in real estate and emphasize the value of data element to facilitate the real estate industry.Keywordseconomic developmentreal estatenew production element
Job creation and economic growth are considered as main issues in economic policies around the world. Specifically Korea has experienced low and jobless economic growth in the recent past. Employment problem is one of the sensitive issues framing national and regional economic policies in Korea. In this context, it is important to capture the relationship between the employment and economic growth in any Korean regional economy.
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