Seong, Mi Hyun (2022) Dominant Industry and Lock-in Ripple Effects on the Local Economy: Searching for a path renewal of the shipbuilding industry and local economy in Geoje, South Korea. Master thesis.
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Abstract
This research investigates regional economic lock-ins in locations where their economy has been shaped with an old industry. Under regional lock-ins of path dependence theory in evolutionary economic geography, the ripple effects of shipbuilding industry in Geoje, South Korea are investigated to measure how strongly its local economy is tied into the dominant industry. This ripple investigation is to provide a novel sight of how the local economy could be renewed towards a more stable and resilient one. Using spatial analyses with GIS and econometrics, the statistically significant relationships are found between the shipbuilding industry, and regional economic indicators such as employment (total number of employees) and economic structure (industrial diversity) in each administrative division. These statistical models take spatial and time factors into account in order for the analyses to provide deeper insights of the lock-in effects in Geoje. As the research results indicate, the shipbuilding industry has statistically significant positive relationships with the both indicators, but low coefficients for the industrial diversity. However, even with the low coefficients between the shipbuilding industry and the industrial diversity, the spatial econometrics model (dynamic Spatial Durbin Model (SDM) with common factors) indicates the industrial diversity of one spatial unit impacts its neighbouring units. Therefore, diversifying the economic structure and employment in the shipbuilding industry can provide the ripple effects throughout Geoje. In order to maximize the ripple effect, the attention of the national, regional, and local governments should focus not only on the industry itself but also on intentional plans connecting regional firms to diversify regional economic structures and employments for a more resilient local economy.
| Item Type: | Thesis (Master) |
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| Degree programme: | Spatial Sciences (Research): Islands and Sustainability (track) |
| Supervisor: | Vos, D. |
| Date Deposited: | 16 Aug 2022 13:07 |
| Last Modified: | 16 Aug 2022 13:07 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/3960 |
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