International Trade and Global Investment Analysis in Regional Economy
|Author||Park Jaegon, Byeon Changuk, Kim Jisoo , Yoon Junghyun||Date||2016.12.27||Page|
The purpose of this study is to ascertain advancements in globalization at the regional level and analyze relationships and influences between major global activities and local economies to identify policy implications towards promoting local economic development and building local industry competitiveness. The focus of analysis is global trade (imports and exports) and global investment (foreign direct investment and overseas investment). As a first step, it considers the existing body of research to identify aspects of globalization and examine them in the context of local economies. Specifically, current conditions and characteristics of globalization in terms of local economies are analyzed in the context of global trade to identify implications. For the next step, an analysis of global investment conditions and an empirical examination are conducted in terms of their relationship with and influence on local economies. Finally, existing research findings are summarized to suggest policy implications for response measures in the local economy to advancements in globalization. While most previous research on advancements in globalization and global value chains (GVCs) has approached response measures at the national level, the current study is distinct in examining them at the local level and in offering a comprehensive analysis focusing on major trade, investment, and other global activities, in contrast with the analysis of local economy impacts from individual forms of globalization found in some studies at the local level.