Research Reports
A Research for the Establishment of Regional Economic Model for supporting the decision-making process of Local Self-governments
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AuthorPark, Sihyun
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Publication Date2010.10.01
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Original
As local self-governments' authority have been expanded, they have needed policy simulation model on rational decision-making to achieve their goals.
To match local self-governments's rational decision, The main purpose of this study is to build a regional economic model for supporting the decision-making process of local self-governments.
In order to build the regional economic model, we first divided local district into 3 sectors, namely urban, urban-rural, and rural district. Each sectors are classified by population, employment, industrial production and local government finance, and each parts are estimated by single behavior equations with panel analysis.
To reduce the prediction errors and secure realistic forecasting, KREI regional economic model(KREI-REMO) is constructed in such a way as Dynamic Panel analysis, and also is made up with MS-Excel for easy operation. by so doing, KREI-REMO can perform economic and policy simulation under various conditions.
However, this KREI-REMO is the first stage project as a part of local self-governments' decision-making supporting system. For the sake of continued and wide utilization of this model, it is necessary to update model structure, policy simulation tools, and correct parameter's estimation methods continuously.
Researchers: Si-Hyun Park, Suk-Ho Han, Jeong-Min Lee, In-Hye Kwon
Research Period: 2010. 1 ~ 2010. 10.
E-mail Address: shpark@krei.re.kr, shohan@krei.re.kr, fantom99@krei.re.kr, kinhye@krei.re.kr
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