TY - JOUR
T1 - An application of an integrated transport network-multiregional CGE model
T2 - A framework for the economic analysis of highway projects
AU - Kim, Euijune
AU - Hewings, Geoffrey J.D.
AU - Hong, Chowoon
N1 - Funding Information:
Euijune Kim (to whom correspondence should be addressed), Department of Urban Planning and Engineering, Yonsei University, 134 Shinchon-Dong, Seodaemun-Gu, Seoul 120–749, Korea, e-mail: [email protected]. Geoffrey J. D. Hewings, Regional Economics Applications Laboratory, University of Illinois, 607 S. Mathews #220, Urbana, Illinois, 61801–3671, USA. Chowoon Hong, LG CNS, Seoul 120–768, Korea. This paper was presented at the 49th annual North American Meetings of the Regional Science Association International in San Juan, Puerto Rico, 14–16 November 2002. The work was supported by the Korea Research Foundation Grant (KRF-2001–013-C00121).
PY - 2004/9
Y1 - 2004/9
N2 - This paper develops a framework for the economic analysis of highway projects that is then used to estimate the dynamic economic effects of a highway project on the economic growth and the regional disparity in Korea. The framework is composed of a transport model and a multiregional Computable General Equilibrium (CGE) model. The transport model measures a change in interregional shortest distances and the accessibility due to the highway project. The CGE model estimates the spatial economic effects of the project on GDP, the price, exports, and the regional distribution of wages and population. The simulation allows policy makers to determine which highway development deserves the priority for investment, based on consideration of economic growth and regional economic equity in the long run. The simulation found that all the highway projects have positive effects on GDP and export growth as well as regional equity in terms of wage and population.
AB - This paper develops a framework for the economic analysis of highway projects that is then used to estimate the dynamic economic effects of a highway project on the economic growth and the regional disparity in Korea. The framework is composed of a transport model and a multiregional Computable General Equilibrium (CGE) model. The transport model measures a change in interregional shortest distances and the accessibility due to the highway project. The CGE model estimates the spatial economic effects of the project on GDP, the price, exports, and the regional distribution of wages and population. The simulation allows policy makers to determine which highway development deserves the priority for investment, based on consideration of economic growth and regional economic equity in the long run. The simulation found that all the highway projects have positive effects on GDP and export growth as well as regional equity in terms of wage and population.
KW - CGE model
KW - Income distribution
KW - Regional inequality
KW - Regional investment policy
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U2 - 10.1080/0953531042000239356
DO - 10.1080/0953531042000239356
M3 - Article
AN - SCOPUS:4444356213
SN - 0953-5314
VL - 16
SP - 235
EP - 258
JO - Economic Systems Research
JF - Economic Systems Research
IS - 3
ER -