Even though per capita income has been frequently used to measure the regional growth, it depends on the growth rates of income and population because per capita income is composed of income and population. It is worth analyzing the paths of per capita income through investigating the dynamic changes of income and population in order to examine the regional growth stages. This paper employed the regional cycle hypothesis which decomposes the GRDP growth into income and population growth in order to analyze the regional growth paths of cities and provinces in Korea. The empirical results present four kinds of regional cycle patterns. First, both income and population decline in the metropolitans such as Seoul and Busan while the areas neighboring the metropolitans experience the increase of income and population. Second, both income and population grow in Chungcheong area. Third, there is a negative relationship between income and population in some areas. Finally, population change does not have any effect on income level in other areas. The analysis of characteristics of each pattern suggests that increase of both income and population is desirable for the sustainable regional growth.
Even though per capita income has been frequently used to measure the regional growth, it depends on the growth rates of income and population because per capita income is composed of income and population. It is worth analyzing the paths of per capita income through investigating the dynamic changes of income and population in order to examine the regional growth stages. This paper employed the regional cycle hypothesis which decomposes the GRDP growth into income and population growth in order to analyze the regional growth paths of cities and provinces in Korea. The empirical results present four kinds of regional cycle patterns. First, both income and population decline in the metropolitans such as Seoul and Busan while the areas neighboring the metropolitans experience the increase of income and population. Second, both income and population grow in Chungcheong area. Third, there is a negative relationship between income and population in some areas. Finally, population change does not have any effect on income level in other areas. The analysis of characteristics of each pattern suggests that increase of both income and population is desirable for the sustainable regional growth.
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