우리나라 주요산업들의 노동생산성에 미치는 외부성의 영향

Abstract

This study aims to analyze the effects of dynamic externalities on the labor productivity of regional industries as factors of regional economic growth in Korea, and to draw implications for the role of localization and urbanization economies in increasing regional economic productivity. The purpose of this study is to verify whether localization, urbanization, and urbanization are affecting the labor productivity of regional industries as a regional economic growth factor. Under the consciousness that the effects of localization and urbanization economies may differ, we intend to analyze the industry in detail. Among manufacturing industry, by consumer goods industry, capital goods industry, high-tech industry and among the service industry, by consumer service industry and producer service industry. To perform this study, a panel analysis will be made considering GRDP data, capital, and human capital by province from 1993 to 2018. Panel analysis combines cross-section data and time-series data, which can compensate for the problems of only cross-section data analysis and time-series data analysis. Through this, we will analyze the effects of localization and urbanization economies on labor productivity of major industries in Korea. The panel analysis tested whether the linear coupling between unstable panel time series variables was stable through the panel unit root test. As a result, in some of the variables of labor productivity per worker, capital stock per worker, human capital stock per worker, specialization, and diversity in the six industries, the result was “time series is stable.” Comprehensive methods show that most of them are unstable time series. Panel cointegration tests were performed to analyze the existence of long-run equilibrium between labor productivity and explanatory variables. As a result, I dismissed the null hypothesis that “there is no cointegration relationship” between the labor productivity of each of the six industries and the explanatory variables in the industry. Also, the panel cointegration coefficients were estimated to explicitly analyze the long-run equilibrium relationship between labor productivity and explanatory variables where cointegration relationships exist. As a result, in all six industries, the localization economies had a positive impact on the labor productivity of each industry, and in the non-metallic mineral and metal products manufacturing industry and the financial and insurance industry, the urbanization economies had a positive impact on the industrial labor productivity. According to the empirical analysis results of this study, the effects of localization and urbanization economies differ according to industries. In all industries, localization economies showed positive results. But, the Diversity Index has significant positive results only in the non-metallic mineral and metal products manufacturing and financial and insurance industries. These results suggest that the localization economies is very important in the labor productivity of the regional industry in Korea. But, the reason why the impact of the urbanization economies in the manufacturing of non-metallic minerals and metal products was a positive result was seen in terms of demand. Even if sales in one consumer group decrease, orders from other consumer groups may increase and offset each other. Therefore, it seems that the companies that do business in regions with diversified industries are able to conduct production activities without compromising production plans. The reason for the impact of the urbanization economies in the financial and insurance industries as a positively significant result can also be seen in terms of demand. Financial loans and insurance products also seem to have influenced the demand of other industries. Looking at the results of this study and what is common in previous studies, industrial policy in Korea has been concentrated on manufacturing. But, looking at the results of this study, it was found that service industry specialization is very important. Accordingly, in the process of economic growth in each region, it will be necessary to develop industries that include not only manufacturing but also service industries. Also, to improve labor productivity in the local economy, strategies to strengthen the localization economies and urbanization economies will be needed. We believe that a policy is needed to increase the degree of specialization by concentrating companies through cluster creation. The method of inducing the accumulation of companies by selecting regional specializations and strategic industries and creating industrial complexes will be an important means to promote the regional economy. Also, In order to increase the diversity, I think that a policy is needed to expand infrastructure that can be exchanged by various industries and can be used in common. A significant economy in supplying public and social capital, such as roads, railroads, and information and communication networks, is seen as a sufficient factor to increase corporate productivity.