2010 Fiscal Year Final Research Report
Time-series analysis and policy research on dynamic externalities and endogenous economic growth in Tokyo and Osaka
| Project/Area Number |
20530226
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Applied economics
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| Research Institution | Ritsumeikan University |
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Principal Investigator |
ZHENG Xiao-Ping Ritsumeikan University, 経済学部, 教授 (50251012)
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| Project Period (FY) |
2008 – 2010
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| Keywords | 経済政策 / 都市経済学 / 地域経済学 |
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| Research Abstract |
This research project conducts a cointegration analysis on the effects of dynamic externalities upon economic growth using time-series data from 1975 to 2003 on the one-digit industries of Tokyo and Osaka metropolitan areas in Japan. Some new time-series econometric methods that have been recently developed to conduct unit root and cointegration tests are used in the analysis, allowing for an endogenously determined structural change in the time period studied. It also proposes a new type of dynamic externalities, called Network dynamic externalities, to represent knowledge spillovers resulting from the whole agglomerated area via transportation networks, and shows that they have cointegrated relations with the total factor productivity (TFP) of the manufacturing, finance, wholesale and retail trade, as well as the overall industries. In addition, evidence is also found that Marshall-Arrow-Romer (MAR) dynamic externalities, which are associated with own industrial production concentration, affect the TFP of most industries selected for estimation. However, Jacobs dynamic externalities, which are represented by the diversity of industrial production, only contribute to the TFP of the services industry, and Porter dynamic externalities, which are expressed by the competitiveness within industries, do not influence the selected industrial TFP.
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