Optimal Urban Population Size: National vs Local Economic Efficiency
This paper explores whether the population size of the Seoul Metropolitan Area (SMA) in Korea is efficient in terms of the national economy. To undertake this analysis, a recursively dynamic interregional computable general equilibrium (ICGE) model with a population module is developed. In this mode...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
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Sage Publications
2014
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| Online Access: | http://hdl.handle.net/1721.1/86416 https://orcid.org/0000-0002-4579-4815 |
| _version_ | 1811093279956008960 |
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| author | Nam, Kyung-min Kim, Euijune Hewings, Geoffrey |
| author2 | Massachusetts Institute of Technology. Joint Program on the Science & Policy of Global Change |
| author_facet | Massachusetts Institute of Technology. Joint Program on the Science & Policy of Global Change Nam, Kyung-min Kim, Euijune Hewings, Geoffrey |
| author_sort | Nam, Kyung-min |
| collection | MIT |
| description | This paper explores whether the population size of the Seoul Metropolitan Area (SMA) in Korea is efficient in terms of the national economy. To undertake this analysis, a recursively dynamic interregional computable general equilibrium (ICGE) model with a population module is developed. In this model, the explicit costs and benefits of population growth are estimated by using the industrial value added and consumer price inflation functions for each region. The counter-factual analysis shows that national population decentralisation away from the SMA is desirable for Korea’s economic growth. Korea’s GDP is estimated to be maximised when the SMA’s national population share is at 39 per cent in the short term and 35 per cent in the long term. However, the SMA government is likely to have incentive to maintain its population at around 40 per cent of the national population, where per capita income at the regional, not national, level is maximised. |
| first_indexed | 2024-09-23T15:42:44Z |
| format | Article |
| id | mit-1721.1/86416 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T15:42:44Z |
| publishDate | 2014 |
| publisher | Sage Publications |
| record_format | dspace |
| spelling | mit-1721.1/864162022-10-02T03:33:21Z Optimal Urban Population Size: National vs Local Economic Efficiency Nam, Kyung-min Kim, Euijune Hewings, Geoffrey Massachusetts Institute of Technology. Joint Program on the Science & Policy of Global Change MIT Energy Initiative Nam, Kyung-Min Nam, Kyung-min This paper explores whether the population size of the Seoul Metropolitan Area (SMA) in Korea is efficient in terms of the national economy. To undertake this analysis, a recursively dynamic interregional computable general equilibrium (ICGE) model with a population module is developed. In this model, the explicit costs and benefits of population growth are estimated by using the industrial value added and consumer price inflation functions for each region. The counter-factual analysis shows that national population decentralisation away from the SMA is desirable for Korea’s economic growth. Korea’s GDP is estimated to be maximised when the SMA’s national population share is at 39 per cent in the short term and 35 per cent in the long term. However, the SMA government is likely to have incentive to maintain its population at around 40 per cent of the national population, where per capita income at the regional, not national, level is maximised. 2014-05-05T18:56:05Z 2014-05-05T18:56:05Z 2013-06 2013-02 Article http://purl.org/eprint/type/JournalArticle 0042-0980 1360-063X http://hdl.handle.net/1721.1/86416 Kim, E., G. Hewings, and K.-M. Nam. “Optimal Urban Population Size: National Vs Local Economic Efficiency.” Urban Studies 51, no. 2 (February 1, 2014): 428–445. https://orcid.org/0000-0002-4579-4815 en_US http://dx.doi.org/10.1177/0042098013489737 Urban Studies Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use. application/pdf Sage Publications Nam |
| spellingShingle | Nam, Kyung-min Kim, Euijune Hewings, Geoffrey Optimal Urban Population Size: National vs Local Economic Efficiency |
| title | Optimal Urban Population Size: National vs Local Economic Efficiency |
| title_full | Optimal Urban Population Size: National vs Local Economic Efficiency |
| title_fullStr | Optimal Urban Population Size: National vs Local Economic Efficiency |
| title_full_unstemmed | Optimal Urban Population Size: National vs Local Economic Efficiency |
| title_short | Optimal Urban Population Size: National vs Local Economic Efficiency |
| title_sort | optimal urban population size national vs local economic efficiency |
| url | http://hdl.handle.net/1721.1/86416 https://orcid.org/0000-0002-4579-4815 |
| work_keys_str_mv | AT namkyungmin optimalurbanpopulationsizenationalvslocaleconomicefficiency AT kimeuijune optimalurbanpopulationsizenationalvslocaleconomicefficiency AT hewingsgeoffrey optimalurbanpopulationsizenationalvslocaleconomicefficiency |