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The purpose of this paper is to examine the impact of education and R&D investment on regional economic growth in South Korea. We develop a simultaneous model of production, human capital accumulation, migration, population and physical capital investment of two regions: the Seoul Metropolitan Area and the rest of Korea. We decompose the regional growth path into a quality path and a quantity path to identify how regional economies grow and run simulations to evaluate alternative policies in terms of effectiveness and adaptability. The impact of education and R&D investment on regional growth in the rest of Korea is only 22.3% of that in the Seoul Metropolitan Area due to lower elasticity values of young in-migrants with respect to the investment in the rest of Korea. An enhanced efficiency of regional human capital accumulation is effective and adaptable to alleviate regional economic disparity.


education and R&D investment; human capital; brain drain; migration; regional economic divergence


Public Affairs, Public Policy and Public Administration

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Creative Commons Attribution 4.0 License
This work is licensed under a Creative Commons Attribution 4.0 License.

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