%X 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.
%D 2022
%L theses_frw3960
%A Mi Hyun Seong
%T 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