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Policy Study
A Study on Agglomeration and Urban Growth: Market Access Approach to Urban Growth

December 31, 2018

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Policy Study
A Study on Agglomeration and Urban Growth: Market Access Approach to Urban Growth

December 31, 2018

PDF
This paper studies population and employment growth of Korean cities in the period of 1975-2015. I document that urban growth patterns in the first 20 years of 1975-1995 are different from those in the recent 20 years of 1995- 2015. First, Zipf’s law did not hold in the first period while the distribution of city sizes have become linear lately. Second, the population growth looks independent from city sizes in the second period. In 1975-1995, on the other hands, Gibrat’s law does not hold as an inverse U pattern appears. In sum, the growth patterns in the second period support random growth theory.

Then, I focus on the period of 1995-2015 to examine market access effects on urban growth. The market access is a measure of economic advantages of urban geography. Cities have a high level of market access when they are located near a big metropolitan area. The market access, an geographical advantage, has a significant influence on employment growth. This effect is higher in Seoul metropolitan area than in the rest of South Korea. The market access effect is stronger on the employment growth of manufacturing industry than on that of service industry. This result is robust with various checks of, e.g., different definition of urban areas and different values of elasticity of transport costs. The policy makers in South Korea should consider geographical characteristics when they make policy decisions with respect to regional development.
 
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Office of Global Economy
Providing Economic Forecast and Macroeconomic Policy Direction, the Groundwork for a Brighter Future

The Department of Macroeconomics is conducting researches on the macro economy and macroeconomic policy, particularly focusing on suggesting the analysis of macroeconomic trends and current status of the economy at home and abroad, the economic forecast, and the policy direction of the macro economy. The Department is also in charge of establishing, sustaining and maintaining various econometric models, based on which it analyses policy effects and develops a long-term economic forecast.

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  • Economic trend analysis, short- and long-term forecast
  • Policy study on macroeconomic management
  • Basic structural analysis on macroeconomic areas
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Department of Macroeconomic Policy
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  • CHO, Byungkoo On leave

    Director and Vice President, Department of North Korean Economy

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  • LEE, Jongkyu

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  • KIM, Seulki

    Research Associate

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  • CHUN, Eunkyung

    Research Associate

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